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.
Nexen successfully entered offshore Newfoundland and Labrador with the acquisition of one of the most sought after blocks in the 2015 Flemish Pass license round. Nexen was awarded a second adjacent block in the 2016 license round. These blocks lie in an emerging play with existing discoveries and will provide Nexen a foundation for building a long term, sustainable business in the region.
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.