Cairn Energy, one of Europe´s leading independent oil and gas exploration and development companies, has revealed their long term plans for exploration drilling programme, which may involve in resuming activity off Greenland.
If the company goes ahead with their plans of exploration and exploitation in Greenland, it could mean that they resume drilling operations in the Pitu field by the second half of next year.
To date, the Edinburgh-based explorer's drilling programme off Greenland has not been fruitful and had been widely criticized by environmentalists.
In the firm's latest half-yearly report it raised its total programme target to an accumulative figure of over four million barrels.
Chief Executive Simon Thomson explained that the company will commence a year-long multi-well frontier exploration programme as of September that will give shareholders ongoing exposure to the potential for material growth.
Cairn's current inventory is made up of 144 leads and 62 prospects in the frontier basins off Morocco, Mauritania, Senegal, Spain, Ireland and Greenland, and the more mature Norwegian Continental Shelf and UK and Norwegian North Sea.