Highlights
Train 1 at the MPT
OPERATIONAL: Oil production commenced from the Mangala field, Rajasthan
INDIA: Discovered in place resource increased from 3.7 billion boe to 4 billion boe
GREENLAND: Geophysical surveys across west, south and eastern Greenland acquired in 2009
GREENLAND: PETRONAS became a 10% partner in existing operated blocks
Operational:
- Group booked entitlement reserves 253.9 mmboe (2008: 254.5 mmboe)
- Gross operated production: 77,222* boepd (2008: 76,298 boepd)
- Average net entitlement production: 20,307* boepd (2008: 12,801 boepd)
*includes Rajasthan boepd production for 125 days
Finance:
- Group gross cash balances of ~$1.2bn
- PLC/Capricorn net cash of $596m with a further $64m received in 2010 following the PETRONAS farm-in to Greenland
- Cairn India Ltd (CIL) gross cash $594m, net debt of $96m and following the $1.6bn refinancing during the year, CIL has committed undrawn loan facilities of $923m
- Profit after tax before exceptional items of $52.7m (2008: $10.9m)
