Commenting on news this week that Cairn Energy is pulling out of petroleum exploration in India, Paul Daly, Corporate Accountability campaigner, Friends of the Earth Scotland, said:

“Once again, Cairn Energy have had to pull out of a major petroleum exploration project, putting it down to the somewhat non-specific ‘force majeure’.

“We do know that Cairn Energy quit its exploration in the Arctic after two years of unsuccessful exploration. Currently Cairn is seeking a partner to share the financial risk associated with exploration in such a difficult environment.

“Any potential investors should think seriously before investing in Cairn Energy, given its case history and lack of contingency plans as highlighted last year.”

ENDS

For media enquiries, please contact: Per Fischer, Press Office, Friends of the Earth Scotland
 t: 0131 243 2719

Notes to Editors

1. Two oil giants may pull out of Nepal
india.nydailynews.com/business/ae752ba9e6f118ac2e4397eb717c7f6d/two-oil-giants-may-pull-out-of-nepal

2. Verdict: Cairn’s oil spill plan is outlandish, simplistic and “wholly inadequate”
www.greenpeace.org.uk/blog/climate/verdict-cairns-oil-spill-plan-outlandish-simplistic-inadequate-20110831

3. Friends of the Earth Scotland is * Scotland’s leading environmental campaigning organisation * An independent Scottish charity with a network of thousands of supporters and active local groups across Scotland * Part of the largest grassroots environmental network in the world, uniting over 2 million supporters, 77 national member groups, and some 5,000 local activist groups – covering every continent. www.foe-scotland.org.uk