Cairn Energy's Operations in Nicaragua

Source Company Web Site
Company Cairn Energy PlcEquinor ASA 
Tags Asset Deals, Deals, Upstream Activities
Date May 17, 2019

In 2019 Cairn entered into a farm-in agreement with Equinor for a 35.1% non-operated interest in four exploration blocks offshore the Nicaragua Pacific coast ahead of a potential exploration drilling campaign in 2020.

The farm-in adds to Cairn’s acreage in Latin America and enables Cairn to access high impact resource potential in a frontier location containing a range of exploration play types.

After the transaction, Equinor is the operator with 49.9% equity. Empresa Nicaraguense del Petroleo (Petronic) participates with the remaining 15% equity.

The blocks (C-1, C-2, C-3 and C-4), cover an area of 16,000 km2 in the Sandino Basin.

Source: EvaluateEnergy® ©2019 EvaluateEnergy Ltd