Cairn Announces Farm-In At Porcupine Basin

Edinburgh-based explorer Cairn has announced new activity in the Porcupine Basin off the west coast of Ireland.

In a statement published on its website, Cairn heralds a farm-in as operator to two licences.

The Porcupine Basin holds the undeveloped Spanish Point gas condensate and Burren oil discoveries, and six adjacent licensing option blocks. The acreage covers an area of 2,753 sq km, and will provide locations for Cairn’s frontier drilling programme, the company says.

It anticipates drilling will begin on the first appraisal well at Spanish Point in the second quarter of next year. Cairn's chief executive, Simon Thomson, said the move was a boost for realization of the company's Atlantic Margin portfolio. "Our operated, multi-well exploration programme, for which a rig has been secured, will start later this year in Morocco.”