Nexen Announces All Required Regulatory Approvals Received

          Nexen Announces All Required Regulatory Approvals Received

  PR Newswire

  CALGARY, Alberta, February 12, 2013

CALGARY, Alberta, February 12, 2013 /PRNewswire/ --

Nexen Inc. ("Nexen", TSX, NYSE: NXY) announced today that Nexen has received
approval from the Committee on Foreign Investment in the United States (CFIUS)
with respect to the proposed acquisition of Nexen by CNOOC Limited, and now
has all of the requisite approvals to proceed to close.

The transaction is expected to close the week of February 25, 2013 and remains
subject to customary closing conditions.

The letter of transmittal for the acquisition of common shares will be mailed
to registered shareholders shortly and is also available on Nexen's website.
For more information common shareholders may visit\investorinfo .

About Nexen

Nexen Inc. is a Canadian-based global energy company, listed on the Toronto
and New York stock exchanges under the symbol NXY. Nexen is focused on three
growth strategies: oil sands and shale gas in Western Canada and conventional
exploration and development primarily in the North Sea, offshore West Africa
and deepwater Gulf of Mexico. Nexen adds value for shareholders through
successful full-cycle oil and gas exploration and development, and leadership
in ethics, integrity, governance and environmental stewardship.

Forward-Looking Statements

Certain statements in this Release constitute "forward-looking statements"
(within the meaning of the United States Private Securities Litigation Reform
Act of 1995, as amended) or "forward-looking information" (within the meaning
of applicable Canadian securities legislation). Such statements or information
(together "forward-looking statements") are generally identifiable by the
forward-looking terminology used such as "expect", "should" or other similar
words. Any statements as to the ability of the parties to satisfy the
conditions to, and to complete, the transaction; the anticipated timing of the
closing of the transaction; and, changes in any of the foregoing are
forward-looking statements.

All of the forward-looking statements in this Release are qualified by the
assumptions that are stated or inherent in such forward-looking statements.
Although we believe that these assumptions are reasonable based on the
information available to us on the date such assumptions were made, this list
is not exhaustive of the factors that may affect any of the forward-looking
statements and the reader should not place an undue reliance on these
assumptions and such forward-looking statements. Nexen undertakes no
obligation to update publicly or revise any forward-looking statements or
information, whether as a result of new information, future events or
otherwise, unless so required by applicable securities laws. The key
assumptions that have been made in connection with the forward-looking
statements include the ability of the parties to the July 23, 2012 Arrangement
Agreement to satisfy, in a timely manner, the conditions to the closing of the

Forward-looking statements are subject to known and unknown risks and
uncertainties and other factors, many of which are beyond our control and each
of which contributes to the possibility that our forward-looking statements
will not occur or that actual results and achievements may differ materially
from those expressed or implied by such statements. Such factors include,
among others: the possible failure of Nexen and CNOOC Limited to otherwise
satisfy the conditions to the completion of the transaction, in a timely
manner or at all; if the transaction is not completed and Nexen continues as
an independent entity, there are risks that the announcement of the
transaction and the dedication of substantial resources of Nexen to the
completion of the transaction could have an impact on Nexen ' s current
business relationships (including with future and prospective employees,
customers, distributors, suppliers and partners) and could have a material
adverse effect on the current and future operations, financial condition and
prospects of Nexen; the possible failure of Nexen to comply with the terms of
the Arrangement Agreement may result in Nexen being required to pay a fee to
CNOOC Limited, the result of which could have a material adverse effect on
Nexen ' s financial position and results of operations and its ability to fund
growth prospects and current operations; and other factors, many of which are
beyond our control. Additional information on these and other factors that
could affect the completion of the transaction are included in the information
circular and proxy statement of Nexen dated August 16, 2012, which has been
filed with the applicable securities regulatory authorities and may be
accessed through the SEDAR website  ( ),  the SEC's
website  ( )  and Nexen's website  (  The impact of any one risk, uncertainty or factor
on a particular forward-looking statement is not determinable with certainty
as these factors are interdependent, and management ' s future course of
action would depend on our assessment of all information at that time.

For investor relations inquiries, please contact: Janet Craig Vice President,
Investor Relations +1(403)699-4230

For media and general inquiries, please contact: Pierre Alvarez Vice
President, Corporate Relations +1(403)699-5202

801 - 7 ^th Ave SWCalgary, Alberta, Canada T2P 3P7
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