Nexen Completes Redemption of Subordinated Notes

               Nexen Completes Redemption of Subordinated Notes

  PR Newswire

  CALGARY, Alberta, March 28, 2013

CALGARY, Alberta, March 28, 2013 /PRNewswire/ --

Nexen Inc. ("Nexen") announced today that it has completed the previously
announced redemption of all of its 7.35% Subordinated Notes due 2043. The
redeemed Subordinated Notes have been cancelled and will be de-listed from the
TSX at the close of markets on March 28, 2013 and from the NYSE effective on
or about April 8, 2013.

About Nexen Nexen Inc. is a wholly-owned subsidiary of CNOOC Limited. Nexen is
an upstream oil and gas company developing energy resources in some of the
world's most significant basins including the UK North Sea, offshore West
Africa, the Gulf of Mexico and Western Canada. Nexen is strategically focused
on three businesses: conventional oil and gas, oil sands and shale gas.

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 "will", "intends", "expect", "should"
or other similar words. Any statements as to the de-listing of the
Subordinated Notes from the TSX and the NYSE and timing in respect to such
de-listings are forward-looking statements.

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 to complete the de-listings of the
Subordinated Notes on the proposed timeline for such de-listings. These risks,
uncertainties and other factors and their possible impact are discussed more
fully in the sections titled "Risk Factors" in our 2012 Annual Information
Form and "Quantitative and Qualitative Disclosures About Market Risk" in our
2012 annual MD&A.

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.

For further information: For investor relations inquiries, please contact: Kim
Woima Senior Manager, Investor Relations +1(403)699-5821 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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