OGJ Newsletter

12/12/2011
GENERAL INTEREST — Quick Takes Nexen, CNOOC form Gulf of Mexico joint venture Nexen Inc. formed a joint venture with China's CNOOC Ltd. in the Gulf of Mexico, giving CNOOC a working interest in as many as six deepwater exploration wells. Terms of the partnership were not discussed. CNOOC said Nexen is operator of the joint venture. The partnership includes the Kakuna well, now being drilled, and the Angel Fire well, which is expected to spud in 2012. CNOOC will obtain 20% working interest in Kakuna, Angel Fire, and Cypress. It may also participate in three additional exploration wells with a 10-25% working interest. The venture does not include any interest in Nexen's Appomattox discovery...
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