Cairn reports 2013 loss after cost of unsuccessful drilling rises

LONDON, March 18 (Reuters) - London-listed oil and gas explorer Cairn Energy (LSE: CNE.L - news) posted a $556 million loss after tax in 2013 after high costs for unsuccessful drilling in Morocco and the North Sea.

The company's costs for unsuccessful exploration rose 34 percent year on year to $213 million, which included $107 million spent on drilling offshore Morocco and $81 million in the Norwegian and UK parts of the North Sea.

The oil and gas explorer, which is active in India, also said it was complying with tax legislation in countries it was active in, including India.

The company was contacted by Indian tax authorities earlier this year to discuss tax assessments dating back some seven years, after the country stepped up efforts to enforce tax collection.