• Discovered significant oil reserves on the Masila Block in the Republic of Yemen in 1991. Production began in 1993 and millionth barrel produced in 1993, 700 millionth barrel produced in July 2003.
• Acquired interests in Gulf of Mexico, offshore Indonesia, offshore northwest Australia, Ecuador, Colombia, Pakistan, Kazakhstan, Vietnam, Nigeria and Saskatchewan (heavy oil).
• Increased interests in the U.K. North Sea.
• Began production in Ecuador and the U.K. North Sea.
• Sold interests in Bolivia, Kazakhstan and Romania.
• Expanded sodium chlorate facility in Brandon, Manitoba.
• Began production of sodium chlorate at a new facility in Bruderheim, Alberta.
• Acquired sodium chlorate plants at Beauharnois, Quebec and Taft, Louisiana (85 per cent interest).
• Increased public ownership to 70% when Occidental Petroleum Corporation sold 12 million common shares.
• Reorganized Company into three strategic business units: North American Oil and Gas, International Oil and Gas and Chemicals.
• Acquired Wascana Energy Inc., increasing our Canadian holdings.

1998

• CXY Energy Inc. (now Nexen Petroleum U.S.A. Inc.) acquired 50% of Fina’s interest in 64 lease Blocks in Gulf of Mexico.
• International Division acquired 50% of Kerr-McGee’s interests in two Blocks in Yemen and also acquired four blocks on the Saudi Arabia/Yemen border, increasing our acreage holdings in Yemen to 20 million acres.
• The Company divested its Canadian assets except for the Wascana assets.
• Syncrude project produces one billionth barrel of synthetic crude oil.
• First offshore project in Nigeria began producing 10,000 bopd in October 1998.

1999

• In Yemen, achieved record production levels - exiting the year at 109,200 barrels per day, net to Nexen.
• Identified additional exploration potential on Masila Block.
• Began development of Hay in northeastern British Columbia and had a significant light oil and natural gas discovery in Western Canada.
• Australia quickly became one of our core areas with the Buffalo Field coming on-stream in December.
• Exited the year producing over 257,000 barrels of oil equivalent - a new record.
• Our Chemicals operation expanded internationally with the acquisition of sodium chlorate and chlor-alkali facilities in Brazil.