An aerial view of a drilling rig in the Gulf of Mexico.
In November 2014, CNOOC Nexen
Petroleum Guyana Limited acquired
a 25 per cent equity share in the
Stabroek License offshore Guyana.
In May 2015, our operating partner
Exxon Mobil announced a significant
oil discovery located approximately
193 kilometres (120 miles) offshore
Guyana in 1,743 metres (5,718 feet) of
water. In early 2016, Wood Mackenzie
announced that this was the world’s
largest oil discovery in 2015.
East Coast Canada
In November 2015, Nexen was
awarded one of the most sought after
blocks in the recent Flemish
Pass license round offshore Eastern
Canada. The block represents a
successful entry for Nexen as an
operator in Newfoundland, competing
against some of world’s most powerful
oil companies. This block lies in an
emerging play where other developers
have discovered close to 1 billion
barrels of oil.
West Coast Ireland
In early 2016, Nexen was awarded four
licenses in the Irish Atlantic Margin
license round, offshore Western
Ireland. The four licenses, covering
about 4,500 square kilometres and
comprising 23 blocks and partial
blocks, were awarded to Nexen the
operator with 100 per cent equity.
Winning these licenses represents
Nexen’s successful entry into the
South Porcupine Basin. These licenses
lie in an emerging play comparable
to the Flemish Pass Basin offshore
CNOOC Limited Assets
Nexen also manages exploration interests on behalf of CNOOC Limited: a 60% equity interest in Northern Cross (Yukon) Ltd., which operates exploration permits in the Yukon in northwestern Canada; and working interests in four Statoil-operated offshore oil exploration prospects in the Gulf of Mexico — 10% interests in Krakatoa, Logan and Cobra and 20% in Tucker.