Offshore staff
EDINBURGH, UK – Cairn Energy is withdrawing from E&P offshore Norway, after agreeing to sell its wholly-owned subsidiary Capricorn Norge.
Stavanger-based Solveig Gas Norway will pay $100 million for Capricorn, plus customary working capital adjustments on completion.
The proceeds will allow Cairn to reduce its exploration and development capex by around $100 million.
11/27/2019