Cairn Energy has acquired an additional 10% in PL248 J from Wellesley Petroleum, effective 30 June 2018, to increase Cairn's operated stake to 60%. PL248 C was awarded on 9 April 2013 originally covering 175 sq km in block 35/11. NFW 35/11-16 S (2014, Statoil, 3,554m) was drilled on the licence, P&A dry with Late Jurassic Intra Draupne Formation oil shows. The licence was then partitioned in December 2017, with the 67 sq km portion on the SW of the block and SW of Vega & Byrding fields remaining under PL248 C, an undrilled 36.6 sq km portion on the N of the block and to the N of Byrding and Vega was assigned to PL248 J, and 48 sq km on the NE corner of the block, to the E of Byrding licensed as PL248 I. Statoil (previously 30% + Op) did not participate in the new partitions, so assigned its PL248 I share to Wellesley and its PL248 J interest to Cairn Energy. All three licences are in the production phase, valid until 3 June 2035. Following Wellesley's exit from PL248 J, partners are Cairn Energy via Capricorn Norge AS (60% + Op) and Petoro AS (40%).
Cairn Energy has acquired an additional 10% in PL248 J from Wellesley Petroleum, effective 30 June 2018, to increase Cairn's operated stake to 60%.