UPDATE 2-Nexen chief executive says CNOOC deal not yet done

Mon Dec 10, 2012 5:32pm EST
 
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* CFIUS ruling in United States seen as key

* Companies resubmitted U.S. application in late November

* Deal would have been "difficult" under new rules: minister

* Nexen closes up 14 pct at $26.77 in New York (Adds CFIUS main remaining ruling, details)

By Jeffrey Jones

CALGARY, Alberta, Dec 10 (Reuters) - The $15.1 billion takeover of Canadian oil and gas producer Nexen Inc by China's state-owned CNOOC Ltd is not yet wrapped up despite the Canadian government's blessing after months of heated debate, Nexen's chief executive said on Monday.

"We are nowhere near done," Nexen interim CEO Kevin Reinhart told Reuters as he left a business conference about economic ties between Canada and Asia. He declined to give his reaction to Ottawa's decision on Friday to approve the deal, saying it was too early.

A further decision on the high-profile transaction still rests with a secretive U.S. foreign investment panel, which gets a say because Nexen has exploration and production assets in the Gulf of Mexico.

Investors had been assuming that Canadian Prime Minister Stephen Harper's green light on Friday - after deliberating on how much control foreign state-owned enterprises may have over the country's energy resources - would be the biggest hurdle.   Continued...