London Listed Oil and gas explorer Cairn Energy announced today its 2013 results.
The company reported a higher-than-expected loss of $556 million due, mainly, to the unsuccessful exploration of the Jubi Maritime region, offshore Morocco.
This year, the company reported $556 million loss to $213 million last year. This year’s loss includes $107 million spent on drilling offshore Morocco.
It is worth pointing out that Cairn had plugged and abandoned 2 wells in Morocco last week as it deemed both noncommercial.
The Moroccan Times.
