November 30, 2011 / 8:06 AM / 6 years ago

REFILE-UPDATE 1-Cairn Energy says no commercial discovery in Greenland

1 Min Read

LONDON, Nov 30 (Reuters) - Cairn Energy PLC said on Wednesday two wells it drilled in Greenland and which it hoped would open up a new frontier in oil exploration, were being plugged and abandoned as uncommercial.

Cairn said it still believed Greenland had the elements that could offer "ingredients for success" and that it was considering conducting further seismic work in the area next year.

Cairn's campaign has been closely watched by industry rivals such as Exxon Mobil, which have also acquired licences in Greenland.

The drilling has provoked protests from environmentalists who fear a spill in the Arctic region could prove catastrophic.

Edinburgh-based Cairn said it was in discussions with potential partners about buying into its Greenland licences.

The At7-1 well and At2-1 wells in the Atammik block both West of Greenland failed to discover oil.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below