UPDATE 1-Cairn Energy boosts Greenland ops, sheds Med

* Cairn buys 9.99 pct stake in Greenland-based Capricorn

* Sheds interests in Mediterranean

* Seen as commitment to Greenland drilling


(Adds detail, analyst)

LONDON, Nov 30 (Reuters) - Britain's Cairn Energy (CNE.L) boosted its focus on the North Atlantic on Monday, taking full control of its exploration subsidiary Capricorn, which owns large oil blocks in Greenland, and shedding interests in the Mediterranean.

Cairn said in a statement it would buy a 9.99 pct stake in Capricorn owned by Dyas BV, part of the family-owned Dutch group SHV, for $95 million, to be paid in Cairn shares.

As part of the transaction, Capricorn will also give Dyas 15 percent of its interests in Tunisia and Albania.

"This highlights Cairn's commitment to its exploration programme in Greenland. The first well is to be drilled in 2011," Colin Smith, oil analyst at ICAP, said.

Source:reuters.com/