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Business Review

Chairman’s Statement

Norman Murray, Chairman

First oil from Rajasthan in north west India commenced in August 2009 with evacuation by trucking. This event marked a significant moment in Cairn’s development.

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Chief Executive’s Review

Sir Bill Gammell, Chief Executive

Following 20 years of building a material South Asian business, we are reaching a defining moment in Cairn’s history.

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Operational Review

Dr Mike Watts, Deputy Chief Executive (left) and Phil Tracy, Engineering and Operations Director

We are pleased that the resource base in Rajasthan continues to grow and shows the potential for further value optimisation.

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Financial Review

Jann Brown, Finance Director

We are well funded, with the financial flexibility for our operations. Investment is focused on developing Rajasthan and drilling in Greenland.

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Highlights of 2009 - Oil production commenced from the Mangala field, Rajasthan Highlights of 2009 - Discovered in place resource increased from 3.7 billion boe to 4 billion boe Highlights of 2009 - Geophysical surveys across west, south and eastern Greenland acquired in 2009 Highlights of 2009 - PETRONAS became a 10% partner in existing operated blocks
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