Executive summary Nexen is an oil & gas exploration and production company that operates out of Calgary Alberta, Canada. They are a well-run, profitable, and responsible company that operates in 7 countries and does both onshore and offshore drilling for conventional oil & gas, shale gas, and oil sands. Their board of directors has recently unanimously agreed to a $15.1 billion buyout by China National Offshore Oil Company (CNOOC), which is currently under review by the Canadian government. Nexen employs a knowledge-based workforce of highly skilled workers and uses state of the art technology in the oil & gas exploration and production industry. However, the combination of the small number of workers required to operate an oil & gas production facility, combined with the requirement of a highly skilled workforce to operate and maintain the facility is enough to recommend that our country not allow Nexen to set up operations in our country.
Nexen is a Canadian based oil company whose headquarters are in Calgary Alberta. They started operating in Canada in the oil sands in northern Alberta. Since its inception in 1971 the company has expanded internationally to on-shore drilling in Yemen, and off-shore drilling in the North Sea of the UK, the Gulf of Mexico, West Africa, as well as Poland and Columbia (FP Advisor). Nexen explores, develops, and produces in three principle businesses within the Oil & Gas industry, conventional oil and gas, shale gas and oil sands like those found in northern Alberta. In July 2012, China National Offshore Oil Corporation (CNOOC) placed a bid to buy Nexen for $15.1 billion dollars, which is the largest foreign acquisition made by a Chinese company. Forbes ranks Nexen 799th on its 2000 global leading companies list, and attributed its market cap at around $10.22 billion and annual sales of $6.35 billion (Forbes). The company has just over 3,000 employees