Nexen Bids $113 Million on 30 Blocks in Recent GOM Lease Sale

Nexen was the high bidder on 30 offshore blocks in the Central Gulf of Mexico OCS Lease Sale 205 with bids totaling net $113 million. These awards are subject to the approval of the MMS, which is expected to occur before the end of the year. Nexen's current deepwater portfolio totals approximately 230 blocks.

"This further solidifies our position in the deep-water of the Gulf of Mexico," commented Charlie Fischer, President and CEO. "We were able to capture a number of exciting sub-salt blocks in the lease sale, which adds to our significant portfolio of exploration opportunities."

Nexen Inc. is an independent, Canadian-based global energy company.

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