Cairn India Investors Presentation December 2014

© 2014 Cairn India Limited

December 2014

Cairn India LimitedInvestor Presentation

© 2015 Cairn India Limited 2

This material contains forward-looking statements regarding Cairn India and its affiliates, its corporate and business strategiesand plans, future financial condition and results of operations. All such forward- looking statements are based on themanagement's assumptions and beliefs in the light of information available to them at this time. These forward-lookingstatements are by their nature subject to significant risks and uncertainties; and actual results, performance and achievementsmay be materially different from those expressed in such statements. Factors that may cause actual results, performance orachievements to differ from expectations include, but are not limited to, regulatory changes, future levels of industry productsupply, demand and pricing, weather and weather related impacts, wars and acts of terrorism, development and use oftechnology, acts of competitors and other changes to business conditions. Cairn India undertakes no obligation to revise any suchforward-looking statements to reflect any changes in Cairn India's expectations with regard thereto or any change incircumstances or events after the date hereof. Unless otherwise stated, the reserves and resource numbers within this documentrepresent the views of Cairn India and do not represent the views of any other party, including the Government of India, theDirectorate General of Hydrocarbons or any of Cairn India’s joint venture partner.

Disclaimer


Overview

Rajasthan Potential and Growth Strategy

Mature Assets and Exploration Portfolio

Outlook

Agenda


0.00

2.00

4.00

6.00

8.00

2006 2007 2008 2010 2015 2020 2025 2030 2035

Liquids Production

Liquids Consumption

Mill

ion

FY35e Import Bill US$ 400 Billion

Source: U.S. Energy Information Administration, International Energy Outlook 2013, World Bank; 1 As per latest available 2011 data 2 MoPNG data

FY13 Import Bill >US$150 Bn

Strong fundamentals for demand

~US$ 400Mn per day- Daily Import substitution opportunity

~7 million barrels - India’s daily oil demand by 2035

Untapped Exploration opportunity

~130 billion barrels- Resources in ‘yet-to-find’ category2

65% On-land, 49% Deep Offshore

- Basins with ‘very negligible’ exploration2

Growing Oil Demand with High Import Dependence

India offers significant growth opportunities

Low Per Capita Energy ConsumptionTonnes of Oil equivalent per year

1.00.6

2.92.0 2.01.9

Current1 2035

ChinaIndia World

Rising imports cater to over 70% oil demand in India, forecast to grow rapidly to 90% by 2035Cairn India, Exploration and Production company, focused towards securing India’s energy needs


World Class Resource Base

• Hydrocarbon Initially in Place of 6.1 bn boe• 2P* Reserves and 2C Resources of 1.4 bn boe

* Gross Reserve and Resource estimates based on SPE guidelines as at 31st March, 2014

Assets: Diverse basins, plays and environments

Domestic Crude Oil Production

FY12

38.1

21%

FY11

37.7

18% 28%

37.9

FY14FY13

37.8

26%

Cairn Contribution(Million Metric Tonne)

Rajasthan

RJ-ON-90/1

70%, 3,111 km2

Cambay

CB/OS-2

40%, 207 km2

Ravva

PKGM-1

22.5%, 331 km2

KG Onshore

KG-ONN-2003/1

49%, 315 km2

Mumbai Offshore

MB-DWN-2009/1

100%, 2,961 km2

Palar-Pennar

PR-OSN-2004/1

35%, 9,417 km2

KG Offshore

KG-OSN-2009/3

100%, 1,988 km2

Sri Lanka

SL-2007-01-001

100%, 3,000 km2

South Africa Block 1

60%, 19,898 km2

INDIA

Cairn India - well positioned for the opportunity

• Balanced portfolio, 9 blocks, acreage ~41,000 sq. kms

70481

217667

52742249

1,210

TotalSri Lanka

6,055

KG Onshore

CambayRavvaRajasthan

4,620

1,408

2P + 2CHIIP

(mmboe)


Value creation journey


Delivering consistent revenue growth and profitability

Gross Average Volume(kboepd)

H1 FY 14

213

+14%

H1 FY 15

206

FY 14

219

FY 13

205

FY 12

173

FY 11

149

H1 FY 14

77%

87

+22%

H1 FY 15

85

69%

FY 14

188

74%

FY 13

175

74%

FY 12

119

86%

FY 11

103

81%

CambayRavvaRajasthan

Revenue(INR Billion)

EBITDA Margin

Cash and Cash equivalents(INR Billion)

160183229

167

9156

H1 FY 14

+60%

H1 FY 15FY14FY 13FY 12FY 11

Profit after Tax(INR Billion)

H1 FY 14

65

+25%

H1 FY 15

50*

FY 14

124

FY 13

121

FY 12

79

FY 11

63

~96% Oil mix by volume

~35% Return on Invested Capital Dividend policy >20% Net Profits

~US$ 4 billion contribution to exchequer

* Normalized PAT excluding net of exceptional items


• Leveraging technology to reduce total cost of ownership

• Skin effect heating system – world’s longest continuously heated pipeline

• Modular well pad concept – rapid moving rigs

• Facility Uptime of 98% in FY14 with a low opex

• Embarked on one of the largest polymer flood EOR project in the world at Mangala field

• Excellence in execution - discovery to production

• Onshore oil production - In 5 years in Rajasthan

• Offshore natural gas production - In 28 months in Cambay

• 26th Discovery, Raag-S1 brought on production – In 12 months in Rajasthan

Operational excellence across the value chain

12

4

1/3rd

Peer average3Cairn - RJ

USD/bbl

4

<2

1/2

Peer average3Cairn - RJ

USD/bbl

LTI Frequency Rate No. of days/10,000 feet

0.210.16

Top Decile1Cairn

19.917.6

Top Quartile2Cairn

All metrics as of 31st March, 20141 Based on Oil & Gas producers; 2 Based on Rushmore data for development well drilling3 Based on select peer set from Bloomberg

Safety FirstTop decile HSE performance

Low Finding CostsOne of the best in Onshore

Low Operating CostsOne of the best in Onshore

High Drilling efficienciesTop quartile development drilling


Well positioned to create long term value for shareholders

Leveraging four key value drivers

Technology- EOR- Hydraulic

fracking

Talent- World class

technical skills and competence

Investment- $3 bn Capex

commitment

Infrastructure- >$4 billion

facilities including pipeline

Set for long term growth

and value creation

Significant Exploration upside

- Cairn at an inflection point where is significant upside to resource base

- HIIP potential of ~10 bn boe in Rajasthan


Overview



Outlook

Agenda


Rajasthan - Prolific block with significant upside

Significant Potential: ~10 bnboe In-PlaceBlock offers multiple formations and play types

Fractured Mesozoic & basement

Fategarh

Barmer Hill

Dharvi Dungar

Thumbli

Akli

Volcanics

Gross Hydrocarbons In-Place potential in RJ (billion boe)

Rest of fields

0.3

2.4

MBA

0.9

2.2

Gross HIIP, Reserves and Resources in RJ(billion boe), At 31st March, 2014

2P + 2CHIIP

0.34

FY14-15 Exploration campaign addition

DiscoveredTo be tested/drilled

5.6

4.2

4.6

Total Potential

~10

Future campaign FY16 onwards

FY14-16 campaign

3.02~3

1.41.61

Till FY13

1 ~0.6 bn boe under evaluation, 2 Unrisked prospect inventory


Focused exploration and appraisal campaign to accelerate early monetization

Rajasthan Block – 11 discoveries since

resumption, 36 in total

Aishwariya-46

Raag S-1

DA-1

DA-2

DA-3

Oil Discoveries (31)

Gas Discoveries (5)

Legend

V2Y Channel

NR3-2100

Kaam-W-8

Guda South 7

SL-1

NL-2

DP-1

Saraswati SW-1

Aishwariya BH

Significant Exploration and Appraisal activity since resumption of exploration

Established 1.4 bn boe of HIIP since resuming exploration in 2013; Additional ~0.6 bn boe discovered and yet to be tested.

Focus on appraisal of RDG field and key oil discoveries at Raageshwari, Guda, DP, NL and V&V to help build reserves and resources

Focus on drilling horizontal wells on a go forward basis in order to accelerate early production

3D seismic acquisition program continues at pace, with ~590 km2 data acquired as of Q2 FY15

Discoveries in Q2 FY15 highlighted in bold


Development activities to drive the next growth phase at RJ

MBA1

BH + Satellite fields

2

Gas3

DevelopmentHIIPBn boe/Tcf

• Production CAGR of 7-10%1

over the next 3 years

• RRR of over 150%2 in the next 3 years

1 From known discoveries, 2 Subject to PSC extension, 3 Production potential over 3 years till FY17

Production potential3

boepdInvestmentUSD billion

Target recovery% Key projects

2.2

2.0

1-3

180-200,000

10-30,000

10-20,000

1.6

0.6

0.2

~50%

10-15%

~50%

• EOR• Infilling drilling

campaign• Facilities

upgrade

• Mangala & Aishwariya BH development

• Satellite fields

• New terminal at RDG

• 30” new gas pipeline

Note: Overall net capex of $3 bn including exploration till FY17


MBA fields: Targeting recovery of ~50%

• Facilities• Upgraded fluid handling capacities to ~800,000 barrels of

fluid per day in first phase ahead of schedule• Grid power now available as a backup option to increase

reliability and facility uptime

• Mangala EOR• Injected first polymer in October, ahead of schedule• All major equipment erected at central polymer facility• Two dedicated rigs drilling additional wells

• Mangala ASP Pilot• Pilot successful, initial results better than expectations• Expect pilot to be concluded by Q4 FY15

• Bhagyam & Aishwariya• Received operating committee approval to increase

volumes at Aishwariya field up to 30,000 bopd• Bhagyam polymer flood EOR plan being reviewed by JV

partner

Production potential1 of 180-200,000 boepd

1 Potential volumes over 3 years till FY17

Mangala Polymer flood EOR activity in full swing

Construction of surface facilities

Installation of critical equipment


Satellite fields: Focus on low cost development

Barmer Hill: Leveraging technology and existing infrastructure

BH and Satellite fields: Targeting 200-300mn barrels

• Focus on leveraging infrastructure by prioritizing fields near

Mangala and Aishwariya

• Targeting HIIP of ~ 2bn barrels in north of the basin

• Strategic partnership with global service providers

• Drilled and fracced vertical and horizontal wells; Initial

production rates in line with expectation

1 Potential volumes over 3 years till FY17

• Designing wells and facilities that are modular, easy to install

and reuse

• Five fields contributing to production at the end of Q2

• New fields, NI and Guda, commenced production as planned

• New fields NE and Tukaram expected to commence production

in H2 FY15


Hydraulic fracturing activity


Application of hydraulic fracturing technology at BH

Hydrocarbons piped to market

Hydrocarbons flow out of the well

A truck injects a mix of sand, water and chemicals into the well Truck delivers

water for the fracturing processRecovered water is

stored in open pits, then taken to treatment plant

Hydro-fracfissures

Mixture of water, sand & chemical agents

Hydrocarbons flow from

fissures into the well

Sand keeps fissures open

Horizontal well with multi stage fraccing


Significant potential from Gas development

RDGproductionmmscfd

Key drivers • RDG field estimated to hold 1-3 Tcf of Gas in-place

• Estimated recovery factor of 50% based on similar tight gas reservoirs globally

• Installing additional compressors

• Leverage existing 8” pipeline

• New gas terminal with initial capacity of 100 mmscfd

• New 30” 200 km gas pipeline

• Significant NGL potential

Timeline • Q4 FY 15 • FY 17

• FDP for RDG development for 100mmscfd approved by JV, further submitted to MC• Tenders floated in the market for buying and laying 30” gas pipeline, constructing the

gas terminal and availing rig and frac services


1 Potential volumes over 3 years till FY172 Including internal gas consumption

~122

Double production

~100


On track to double gas volumes from RDG field by Q4 FY15

Compressor cooler fansCompressor skids


Potential gas export pipeline route

MBPL

1670 Kms,

30 MMscmd

(Proposed)

RGT

RGT

AGI-12 Palanpur

Key factors in route selection

Access to best available gas network in India, to ensure better realization

Utilization of existing Right of Use (RoU)

135km pipeline falls in existing RoU and ~65km pipeline from AGI-12 will be in new RoU

Power Plants

Fertilizer Units


Overview



Outlook

Agenda


Ravva – Maximizing value with ~47% recovery

Seismic survey over time

4D seismic, first of its kind in India, to identify un-swept and bypassed areas

New infill wells in these areas to improve recovery and produce oil

3 Infill wells contributed to production in Q2 FY15

4D seismic technology to identify un-swept oil

PKGM-1

Sustaining mature assetProduction, kboepd, mmboe

Andhra Pradesh

17

3

31762 66

FY00

69

FY02

41 37 36

6051

27

61

29

56

39

64

FY96

52

FY98

34

54

FY10FY04 FY06 FY08 FY12 FY14

Cum Production

Gas

Oil


CB – sustain production at optimal costs through technology

CB/OS-2

Gas producing to Oil producingProduction, kboepd, mmboe

Field Direct opex maintained at optimum level

Used Spectral Decomposition of seismic data using Continuous Wavelet Transform technique - to define the reservoir fairway

Infill drilling campaign helped sustain production levels, 44% YoY increase in gross production in FY14

Added sea route for evacuation of crude oil for improved commercial and safety measures

Gujarat

55

FY11FY10

9 1014 12

7

FY07FY04 FY13

1914

20

12

1914 12

FY05 FY09FY06 FY08FY03 FY14FY12

Cum Production

Oil

Gas


Major exploration activity continues across Indian portfolio

KG Onshore Block (KG-ONN-2003/1) Declaration of commerciality for Nagayalanka discovery approved by MC Operatorship for development activities transferred to JV partner as per PSC

India-Onshore

Asset Snapshot• Onshore: Area of 315 sq km• Basin: Krishna Godavari• Play: Structural and Stratigraphic• Reservoir: Tight Sandstone

Opportunity• Hydrocarbon In-place: ~480 mmboe• 2P + 2C: ~74 mmboe• Close to existing infrastructure

KG Offshore Block (KG-OSN-2009/3) Processing of ~934 km2 of 3D seismic data is complete, volumes being evaluated Focus is on building high quality prospect inventory

India-Offshore

Asset Snapshot• Offshore: Area of 1,988 sq km• Basin: Krishna Godavari• Play: Structural and Stratigraphic• Reservoir: Dominantly sandstone with few

carbonate reservoir

Opportunity• Similar to high reserve proven plays in

nearby fields• Close to existing infrastructure

Other Indian Blocks Mumbai Offshore : Processing of recently acquired ~2,128 line-km of 2D seismic data commenced Palar-Pennar: Extension of Exploration Phase-1 is pending with the regulators

KG-ONN-2003/1

Andhra Pradesh

KG-OSN-2009/3


Formulating monetization strategies for International blocks

Sri Lanka Block 4 wells drilled yielding 2 maiden gas discoveries Discussions ongoing with the Sri Lankan Government on commercial terms

International Offshore

Asset Snapshot• Offshore: 3000 sq. km• Basin: Mannar• Play : Structural and stratigraphic• Reservoir: Dominantly Sandstone

South Africa Block Initial interpretations of 3D seismic data indicate exciting plays similar to West

African margin; Prospects for exploratory drilling currently being identified

International Offshore

Opportunity• Hydrocarbon In-place: >70 mmboe• 2P + 2C: >50 mmboe• Emerging market in Sri Lanka

Asset Snapshot• Offshore: 19,898 sq. km Area• 3 wells drilled within the block in 1987 • Basin: Orange• Play : Structural and stratigraphic• Reservoir: Dominantly sandstone

Opportunity• Multiple Oil and Gas plays identified• Structural setting similar to plays along

the West African margin

SL 2007-01-001

Block-1

Sri Lanka

South Africa


Overview



Outlook

Agenda


FY14 FY15(E) FY16(E) FY17(E)

MBA BH + Satellite fields Gas

Outlook – FY 15 and beyond

Remain committed to enhance shareholder value

Ongoing capex program of $3bn until FY17 to fuel

growth

Continue to focus on execution of major development

projects to support medium and long term growth

Enhance oil recovery from producing fields

Scale up tight oil development by leveraging

existing infrastructure

Plan to build long term sustainable gas business

Continued success from exploration and appraisal

campaign to achieve target RRR of 150%2 over 3 years

and accelerate monetization

180 – 200

10 – 30

10 – 20

Units - kboepd

1 From known discoveries

2 Subject to PSC extension till 2030


Value Proposition

As India’s largest private sector E&P company accounting for~28% of the country’s domestic oil production, Cairn India iswell positioned to grow revenues and profits. Its strong trackrecord, low cost of operations, high cash flow generation,combined with the world's growing demand for energy,provides confidence for future growth in reserves andproduction while meeting its return on capital targets.

Top

Management

Chairman: Navin Agarwal

CEO: Mayank Ashar

CFO: Sudhir Mathur

FY14 average Production

Gross Production: 218,651 bopd, 6% YoY increase Oil: 209,378 bopd Gas: 56 mmscfd

Countriespresent

India Sri Lanka South Africa

Reserve and Resource Base

Gross Hydrocarbons Initially in Place (mmboe): 6,055 Gross 2P Reserves & 2C Resources (mmboe): 1,408 Net Working Interest 2P Reserves & 2C Resources (mmboe): 956

Producing Assets -Cumulative Production (till FY14)

Rajasthan (RJ-ON-90/1) - ~216mmboe Andhra Pradesh - Ravva (PKGM-1) - ~317 mmboe Gujarat - Cambay (CB/OS-2) - ~55 mmboe

Capital Budget $3 billion over three years (FY2015, 2016, 2017) 84% for Development; 16% in Exploration

Cumulative Capex (till FY14)

Gross Exploration and Development - ~US$ 7 bn RJ Exploration : ~US$ 0.8 bn; RJ Development : ~US$ 4.3 bn

Operational Achievements

Together with its JV partners accounted for ~28 per cent of India’s crude oil production in FY14

Built world’s longest (~600 kms) continuously heated and insulated pipeline

Awards Fastest growing energy company in the world at Platts Top 250 Energy Company

Awards 2013

Financial Strength

FY 2014P&L

Revenues: US$3.1 billion

PAT: US$2.1 billion

Cash Flow from Operations: US$1.8 billion

Balance Sheet

Cash: US$3.8 billion

Assets: US$10 billion

Zero Debt Company

Other Ratios

Diluted EPS: INR 64.95

Dividend Yield: 4%

DPS: INR 12.5

BVPS: INR 309

Stock Market

Market Cap: ~$10 billion

Listed on: NSE, BSE

Index Representation - Nifty 50 and MSCI

Symbols: CAIRN (NSE); 532792 (BSE); INE910H01017 (ISIN); CAIR (Bloomberg)

Shares outstanding: 1874 million

Shareholding Pattern:

Vedanta Group: 60%

Cairn PLC: 10%

Institutional Holding: 27%

Retail: 3%

Contact Information

Nidhi Aggarwal, Head - Investor RelationsM: +91 98101 97755; +91 124 459 [email protected]@cairnindia.com

Cairn India Ltd.

4th Floor, Vipul Plaza, Sun City, Sector-54, Gurgaon 122002

India

Fact Sheet

mailto:[email protected]

mailto:[email protected]


Board members (1/2)Mr. Navin AgarwalChairman & Non-Executive Director

Mr. Navin Agarwal, 53, is also the Chairman of Sesa Sterlite Ltd. and Deputy Executive Chairman of Vedanta Resources Plc. Mr. Agarwal plays a keyrole in developing the strategic thinking and governance framework of the Vedanta Group. He has been part of the Group for the last 32 yearssince its inception, and has been instrumental in shaping and executing the growth strategy of the Group, through a combination of inorganic andorganic initiatives leading to multifold expansion in shareholder returns.

Mr. Tarun JainNon-Executive Director

Mr. Tarun Jain, 54, is a graduate from the Institute of Cost and Works Accountants of India and a fellow member of both the Institute of CharteredAccountants of India and the Institute of Company Secretaries of India. He is a Whole-time Director of Sesa Sterlite Limited. Mr. Jain has over 35years’ experience in corporate finance, accounts, audit, taxation, secretarial and legal matters. He is responsible for Sterlite’s strategic financialmatters, including corporate finance and strategy, business development and M&A.

Ms. Priya AgarwalNon-Executive Director

Ms. Priya Agarwal, 24, has done B.Sc. Psychology with Business Management from the University of Warwick in the UK. She has wide experiencein Public Relations, Human Resources and Strategic Planning having worked with reputed names like Ogilvy & Mather, Korn Ferry International,Vedanta Resources , HDFC Bank and Rediffusion Y&R.

Mr. Mayank AsharManaging Director and CEO*

Mr. Mayank Ashar, 60, holds a Bachelors of Art & Science in Chemical Engineering, a B.A. in Philosophy and Economics, a Masters of Engineeringand an M.B.A. from the University of Toronto. He brings with him rich and diverse experience spanning across more than 36 years in theinternational Oil & Gas industry. This includes top leadership roles in global organizations like British Petroleum, Petro-Canada and Suncor Energy.He has also served as the Chief Executive Officer and President at Irving Oil Limited.

* Subject to shareholder and other regulatory approvals


Board members (2/2)

Mr. Edward T StoryNon-Executive & Independent Director

Mr. Edward T Story, 70, holds a Bachelor of Science degree from Trinity University, Texas, a Masters degree in Business Administration from theUniversity of Texas and an honorary Doctorate degree by the Institute of Finance and Economics of Mongolia. He is a member of the NorthAmerica Mongolia Business Council. Mr. Story has 48 years’ experience in the international oil and gas industry and is the founder, President andChief Executive Officer of the London Stock Exchange listed SOCO International Plc.

Mr. Naresh ChandraNon-Executive & Independent Director

Mr. Naresh Chandra, 79, graduated with Masters’ degree in Mathematics from Allahabad University. A 1956 Indian Administrative Servicesofficer, honored with the Padma Vibhushan in 2007, a high civilian award, he brings vast administrative experience having held leading positionsin various Committees for the Government of India. In December 1990, he became Cabinet Secretary, the highest post in the Indian Civil Servicesfollowed by his appointment as the Senior Advisor to the Prime Minister of India in 1992. He has served as the Governor of Gujarat and as anAmbassador of India to the United States of America during 1996-2001.

Dr. Omkar GoswamiNon-Executive & Independent DirectorDr. Omkar Goswami, 57, holds a Masters Degree in Economics from the Delhi School of Economics and is a D. Phil in Economics from OxfordUniversity. He has taught in several academic institutions in India and abroad; edited one of India’s best known business magazines; was the ChiefEconomist of the Confederation of Indian Industry; and is the Executive Chairman of CERG Advisory Private Limited, a consulting and advisory firm.Dr. Goswami serves as an independent director on many Company boards and has authored books and research papers on economic history,industrial economics, public sector, bankruptcy laws and procedures, economic policy, corporate finance, corporate governance, public finance,tax enforcement and legal reforms.

Mr. Aman MehtaNon-Executive & Independent Director

Mr. Aman Mehta, 67, is an economics graduate from Delhi University. He has over 37 years’ experience in various positions with the HSBC Groupfrom where he retired in January 2004 as CEO Asia Pacific. Mr. Mehta is actively engaged in corporate governance issues, with Board and advisoryroles in a range of Companies and Institutions across the globe. He is also a member of the governing board of the Indian School of Business,Hyderabad and a member of the International Advisory Board of Prudential of America..


Key Management team (1/2)Mr. Sudhir MathurCFO

Sudhir has 27 years’ experience across core functions like Corporate Strategy, Finance and M&A, Restructuring and Regulatory Affairs, in reputed organizations like Aircel, GMR and Idea Cellular amongst others. A seasoned CFO with commercial orientation, Sudhir has been exposed to high-growth sectors like Oil & Gas, Telecom and Infrastructure. He stepped into the role of Interim CEO in Cairn India at a critical time when the company had just embarked on executing its biggest ever 3 Year strategic plan of development and exploration.

Sudhir is a Bachelor of Economics from Shriram College of Commerce, Delhi University and MBA from Cornell University, New York.

Mr. Sunil BohraDy CFOSunil became member of Vedanta family in the year 2000 and has demonstrated success across various group companies in diverse assignments across various functions. He has in depth experience in setting up systems and processes, formulate new strategies and develop organization structures to facilitate growth of the company.

Since joining Cairn in 2012 as Deputy Chief Financial Officer, he has been instrumental in strategic decision-making and continued success of the company. He has completed General Management Program from Harvard Business School and is a qualified Chartered Accountant.

Mr. Mike YeagerChairman, Operations Review BoardMike brings in more than 38 years of rich experience in reputed organizations like Exxon Mobil, BHP Billiton and the US Marine Corps. In his last assignment, he was the CEO of the Petroleum business at BHP Billiton. Mike works closely with the Cairn management team to deploy the best global technology and practices to unlock the full potential of existing assets and steer their efficient development.

Mike graduated from the US Naval Academy and went on to complete his Masters of Science from University of Southern California.

Mr. Darran LucasDirector, ExplorationDarran comes with over 30 years of Global Exploration, New ventures and Asset Management experience in both conventional and unconventional areas. His experience includes assignments with Kosmos Energy, Nexen Petroleum International, OMV Aktiengesellschaft, Enterprise Oil and British Petroleum. He has proven track record of building and managing high potential, high value exploration portfolios across the globe including Africa, the Middle East, UK and Europe, Latin America and South-east Asia.

He is a Geology graduate from university of London and MBA from Henley Management College, U.K.


Key Management team (2/2)Mr. Suniti BhatDirector, Rajasthan OilSuniti Bhat has been working with Cairn for more than 5 years and has more than 20 years' experience in global oil and gas industry. Suniti was instrumental in delivering a production CAGR of ~20% over 2011-14 from the Rajasthan block and is responsible for shaping the overall growth strategy of Cairn India. He has completed a General Management Program from Harvard Business School, holds a Masters in Petroleum Engineering from Stanford University and has a degree in BE (Hons.) in Chemical Engineering from Punjab University Chandigarh.

Mr. Ananthakrishnan B.Director, Rajasthan GasB. Ananthakrishnan has more than 25 years of experience in the industry. He has worked in both Exploration and Development projects in Cairn in technical and management roles. He has been closely associated with the Rajasthan project since 2003 and led the subsurface teams involved in the development of all the fields in Rajasthan including the Mangala Field which holds over a billion barrels of oil in place.

He is a post graduate in Petroleum Geology.

Mr. Rich PacesDirector, OffshoreRich has over 32 years of substantial experience and expertise in petroleum and reservoir engineering as well as operations and management. He has worked onshore and offshore with both large and small multinational companies and has a variety of international experience of working in the USA, Trinidad, China, Egypt, Russia, Kazakhstan, India and Equatorial Guinea.

Prior to Cairn, Rich served as Vice President and Country Manager-Equatorial Guinea (EG) at Noble Energy and as Chief Operating Officer of the Oil & Gas Division at Reliance Industries. Rich holds a Bachelor of Science degree in Chemical Engineering from the Ohio State University.

Documents

Cairn India Investors Presentation December 2014