Europe’s leading oil and gas company Cairn will spend $85 million in 2021

Cairn Energy ended 2020 with $570 million cash and now aims to spend $85 million in 2021 for exploration of oil and gas and appraisal of wells in Britain and Mexico, the company declared on Wednesday.

The company even won conciliation last month against India for over $1.2 billion. It forecasts to produce 16,000-19,000 barrels per day this year, said it was engaging with the Government of India over the payment of the award.

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“The company well-positioned to be opportunistic in the current market as it seeks to diversify and grow its production base,” said Simon Thomson, CEO Cairn.

Carin is one of Europe’s leading independent oil and gas exploration and development companies and is listed on the London Stock Exchange. It has set up different branches of the company in different parts of the world.