Long Lake—Steam Generator
Leyla Rojas, Engineer
we commit
to powerful strategies
Studies show that applying new technology could increase worldwide supply just as much as successful exploration. Quantum results occur when that technology is applied to a critical mass. Take Long Lake. Years ago we identified hurdles in developing oil sands, accumulated significant inventory and formed a strategy that disrupts conventional wisdom. The patented process substantially reduces the need to purchase natural gas, resulting in an expected $10/bbl cost advantage. Apply this to additional phases, and the rewards are massive. With significant CBM, shale gas and deep-water inventory, we’re planning strategies for what’s next.
Did you know Long Lake is named after a nearby lake, which is more round than long? Learn more about the project at www.nexeninc.com/reports/A4.asp
we commit
to powerful strategies
Phase 1 of Long Lake will only develop about 10% of our total oil sands leases. We will continue to develop this asset in phases, leveraging our unique technology to generate tremendous value.
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Canadian Rockies
we explore
a world of opportunities
Our opportunity inventory is simply unbeatable in both quality and size. Built with foresight, it is global and diverse, making us more sustainable in changing market conditions. Here in Canada, we have billions of barrels of oil sands inventory plus significant land positions with CBM and shale gas potential. Internationally, we have thousands of unexplored acres in the North Sea and the Gulf of Mexico. Now our job is to turn these opportunities into value-generating projects. In 2008, we’ll bring on Long Lake and Ettrick, and drill up to 11 exploration wells worldwide. Any one of these wells could be what’s next.
Did you know we employ about 3,500 people worldwide and opened an office in Norway? Learn more about our global operations at www.nexeninc.com/reports/A5.asp
we explore
a world of opportunities
We are constantly investing in our future. In 2007, we acquired deep-water acreage and now hold about 200 blocks, placing us in the top 10. With several drill-ready prospects, we’re excited to discover what’s next.
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Matt Staines, Project Engineer
we develop
world-class assets
Globally speaking, we are a small company with big company assets. And in this industry, size matters. Oil and gas is largely a fixed cost business—so larger fields and volumes yield lower unit capital and operating costs. Worldwide, there are just over 100 fields producing more than 100,000 boe/d. Buzzard in the North Sea and Masila in Yemen are part of this elite group. Next is Usan, offshore Nigeria, expected to produce around 180,000 boe/d (36,000 boe/d net to us). Long Lake in Canada and Knotty Head in the Gulf of Mexico could soon belong here too. With such exciting mega projects, we can’t wait to develop what’s next.
Did you know our marketing group sells our Buzzard and Masila crude, and power too? Learn more about our dynamic marketing business at www.nexeninc.com/reports/A6.asp
we develop
world-class assets
We transform possibilities into exciting projects. Buzzard came on stream in 2007 generating significant value for shareholders and winning Energy Engineering Project of the Year. We’re proud to be part of this legacy.
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Soderglen Wind Farm
we build
sustainable businesses
We are committed to exemplary corporate governance, environmental and social responsibility, and the health and safety of our workforce. We believe that over the long term, companies that steward to such business practices will be more sustainable and will outperform those with narrower priorities. But don’t just take our word—see for yourself. We are recognized as a leader in corporate governance and sustainability reporting, winning awards for both. For the first time ever, our Scott/Telford offshore UK operations went 2 years without a lost-time injury. And we’ve been included in the Dow Jones Sustainability Index for the past 7 years. Living our values brings value today and to what’s next.
Did you know Soderglen Wind Farm produces enough green energy to power about 25,000 homes? Learn more about sustainability at Nexen by visiting www.nexeninc.com/reports/A7.asp
we build
sustainable businesses
We value our employees and they value us. For five of the past six years, we have been named one of the 50 best employers in Canada. Join us and see why.
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