Cairn picks up eastern Spain permits

Offshore staff

MADRID -- Spain’s government has awarded Cairn Group two hydrocarbon exploration licenses in the Mediterranean Sea off eastern Spain. 

The licenses comprise five contiguous blocks in the Gulf of Valencia area, spanning 3,992 sq km (1,541 sq mi) in total.

Water depths range from 50 m to almost 1,000 m (164-3,281 ft). Cairn has a 100% interest in the blocks.

01/27/2011