Scottish oil firm Cairn Energy gave an update yesterday on its summer drilling programme offshore Greenland, saying arrangements were taking shape for up to four exploration wells.
While Edinburgh-based Cairn reported good progress in its quest to exploit oil reserves within and near the Arctic Circle, there was bad news for investors on its long-awaited deal to sell a majority stake in its India business.
The firm and its Greenland partner, Nunaoil, have recently consulted communities on Greenland’s west coast about drilling, due to get under way next month, with up to four exploration wells planned, including two inside the Arctic Circle.
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