Entity

CNOOC Petroleum North America ULC (formerly Nexen Inc.) is a Canadian unlimited liability company (ULC) incorporated in British Columbia, headquartered in Calgary, Alberta, Canada . It is one of CNOOC Limited's most significant international subsidiaries, serving as the primary vehicle for all of CNOOC's upstream oil and gas exploration, development, and production activities across North and Central America . The company was originally founded as Nexen Inc. — a major independent Canadian oil and gas producer publicly listed on the Toronto Stock Exchange (TSX) and New York Stock Exchange (NYSE) — before being acquired by CNOOC Limited through a landmark US$15.1 billion acquisition completed in February 2013, at the time the largest-ever overseas acquisition by a Chinese company .

Following the acquisition, Nexen Inc. was delisted and operated as a private wholly owned subsidiary of CNOOC Limited. On 31 December 2018, the Nexen brand was formally retired and the company was renamed CNOOC Petroleum North America ULC . Simultaneously, all related Nexen subsidiaries and affiliates were rebranded under the CNOOC name. From February 2013, the company also took accountability for managing approximately US$8 billion in CNOOC Limited assets located throughout North and Central America.

Key Operations & Assets

• Oil Sands (Alberta): Long Lake SAGD project; 7.23% interest in Syncrude
• Shale Gas (British Columbia): Horn River Basin
• Gulf of Mexico (USA): Deepwater E&P assets
• UK North Sea: Buzzard oil field and other assets (managed jointly with CNOOC Petroleum Europe Limited)
• West Africa: Offshore assets in Nigeria
• Carbon reporting: Registered under Alberta's GHG Registry (Company ID: 121)

Key Subsidiary

• CNOOC Marketing Canada — wholly owned Canadian trading/marketing subsidiary