Cairn Boosts North Sea Profile

Cairn Energy has made a US$644.2mn cash offer for North Sea-focused independent Nautical Petroleum . If completed, the acquisition would help to de-risk Cairn's portfolio which remains skewed towards its high-risk frontier exploration programme offshore Greenland. The deal could also boost Cairn's interest in the Catcher project, one of a number of more marginal developments that will be critical if the UK is to avoid a steeper decline in oil production.

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