Cairn Energy sells stake in Pitu block
Edinburgh-based explorer Cairn Energy plc today said today said it has sold 30.6% stake in Pitu block in the Baffin Bay Basin off the west coast of Greenland to Norway's oil and gas major Statoil ASA for an undisclosed amount.
Cairn Energy is selling an 8% stake in Cairn India for up to $940 million, a source with direct knowledge of the matter said, in a second such deal in three months to pare holding in its former Indian unit.