UK independent Cairn led its 1H results on 7 August by stressing its imminent Egypt entry. This comes as the firm the same day indicated that it is minded to accept a $1.06bn settlement offered by India to a long-running legal dispute which has hung over the firm for several years.

The settlement, together with plans announced in March to sell formerly-core North Sea production assets and acquire, together with Egyptian firm Cheiron, Shell’s substantial production and exploration acreage in Egypt’s Western Desert creates a new heartland for the company. (CONTINUED - 900 WORDS)