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Cairn Energy Says Group Production For 2019 Remains Within Guidance

Cairn Energy plc. (CNE.L) reported Friday that its Group production for 2019 remains within guidance of 19,000-22,000 barrels of oil per day or bopd for the first four months.

The company will provide an update on production performance later in the year.

Ahead of the Company's Annual General Meeting, Chief Executive Simon Thomson stated that in the last 12 months, the company has returned to being a full cycle exploration and production company.

The company noted that last year was the first full year of production from its two production assets in the UK North Sea. Between them, Catcher and Kraken generated around 17,500 bopd net to Cairn and around $395million in oil and gas sales revenue.

Catcher is operating ahead of expectations. Further, the company continues to progress two home grown development projects: SNE in Senegal and Nova in Norway. Both projects are firmly on schedule with first oil from Nova targeted in 2021 and from SNE in 2022.

The Company will announce half-year results on September 10.

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