More Greenland drilling in prospect for 2014

Offshore staff

EDINBURGH, UK -- Processing is under way of 3D seismic acquired last year over the Pitu block in the undrilled Baffin Bay basin offshore Greenland.

Final 3D migrated results should be available this summer. Depending on the outcome of mapping and technical evaluation, exploration drilling of one or more Pitu prospects could go forward in 2014, subject to approval from Greenland’s government.

Statoil farmed into the Cairn Energy-held permit in January.

Elsewhere in Baffin Bay, Cairn is participating in a joint deep borehole drilling program scheduled for the second half of this year. Shell is operator of the consortium which includes Conoco, Statoil, Gaz de France, and Maersk.

The core gathering program will comprise at least 10 planned 800-m (2,624-ft) boreholes. Cairn says the resulting stratigraphic data can be extrapolated across the undrilled Baffin Bay basin.

Last year Cairn also acquired 3D seismic off South Greenland, and the company hopes to bring in farm-in partners for an exploration program.

Early processed 3D results suggest the acreage is prospective.

5/17/2012

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