North Sea player Nexen Inc., of Calgary, will use part of its record cash flow of $2.7 billion on Norway-sector seismic, Gulf of Mexico production starts and African studies, it was gleaned Friday.

Though 2006 net income fell a reported C$500 million to C$601 million, the company nevertheless could count on first production at Buzzard to fuel its fortunes.

Drill bit success in the Gulf of Mexico, Yemen and Colombia also mean increased flows this year: Nexen predictions have production rising 50 percent to 230,000 barrels of oil equivalent per day in 2007.

Meanwhile, seismic will be shot over four blocks offshore Norway over mostly shallow water near existing pipelines. In Africa, the go-ahead is expected for the Usan development, while at Wrigley, on Block 506 in the Gulf of Mexico, a sub-sea tieback will bring first flows by spring 2007.