Cairn Energy plc has received shareholder approval for the US$460 million sale of its Catcher and Kraken interests in the North Sea.
On 28 October, the company’s shareholders voted on the proposal at a general meeting where the resolution was passed by the requisite majority.
The sale involves Cairn’s entire 20% interest in Catcher and 29.5% interest in Kraken to Norwegian company Waldorf Production Ltd.