CNOOC Nexen Petroleum Limited Working Interest in the Consortium

By Dr Clive Thomas On In Guyana and the Wider World |

Introduction

Today I consider the Consortium’s third member, CNOOC Nexen Petroleum Limited; a subsidiary of the CNOOC group and its subsidiary Nexen.  Although I offer brief commentary on this firm as with last week’s on Hess Corporation, I focus on filling informational deficits due to weak coverage of the subject.

CNOOC

CNOOC International holds 25% working interest in the Consortium operating under the Stabroek Block’s PSA with ExxonMobil the Lead Operator [ 45% interest] and Hess Corporation 30%. Declared recoverable sources are estimated at 10 plus billion boe.