Nexen Concludes Joint Venture with China’s CNOOC in Gulf of Mexico

Nexen Inc., a Calgary-based energy exploration and production company, announced that it has concluded a joint venture with China’s CNOOC Limited, a producer of offshore crude oil and natural gas, in the Gulf of Mexico. The joint venture will give CNOOC Limited a working interest in up to six deepwater exploration wells in the Gulf. Among the prospects included in the deal are the Kakuna well, which is currently drilling, and the Angel Fire well, which is expected to spud in 2012.