Cairn Energy hails licence wins in Gulf of Mexico

Edinburgh-based oil and gas explorer and producer Cairn Energy has secured interests in two licences in a Mexico offshore bid round.

The licences – one operated and one non-operated, covering some 1,100 square kilometres – are located in the Gulf of Mexico in the shallow water Sureste basin.

Cairn said that the licences were secured by its wholly-owned subsidiary Capricorn Energy, with the production sharing contracts scheduled to be signed later this year with the government of Mexico.

Cairn Energy chief executive Simon Thomson said: “As we build on the success of discoveries in Senegal it is important to access new acreage.”