Agora Oil & Gas is now a subsidiary of Cairn Energy, aquired by Cairn in 2012. Agora was formed in October 2009 by experienced professionals from the Exploration and Production industry in Norway and the UK. Its area of business activities will be the exploration and exploitation of mature parts of the North Sea in areas of low geological and operational risk. In November 2009, Agora announced an agreement with RIT Capital Partners plc and Lord Rothschild’s family interests to fund a programme of exploration and appraisal projects in Norway and the UK. Under the terms of this agreement the investors will invest up to $200 million over the next five years in Exploration/ Appraisal drilling and Agora is now actively seeking business opportunities. Cairn aquired Agora and it's staff in May 2012.