Cairn Energy prepares Greenland wells

20th May 2010 07:36

Oil explorer Cairn Energy said it is preparing a four well exploration programme in Greenland for this summer.The programme is offshore West Disko with the first field expected to spud early July 2010.The group said the average gross field production for the first quarter totalled 74,486 barrels of oil per day. The average realised price per barrel of oil equivalent for Q1 2010 is $62.88. In Rajasthan, Processing Trains One and Two at the Mangala Processing Terminal are operational and Train Three is due for completion by the end of Q2 2010. "Cairn India's resources continue to be targeted on delivering the Rajasthan project, where the initial cash flows are being reinvested in the block. The Group's other financial resources are primarily focussed on the potentially transformational Greenland drilling campaign this summer," it said.