CORRECTED - Nexen sees 2008 capital spending of C$2.4 billion

(Corrects figure in headline)

NEW YORK, Dec 4 (Reuters) - Nexen Inc (NXY.TO: Quote, Profile, Research, Stock Buzz), Canada's No. 4 independent oil producer and exploration company, said on Tuesday it expects to spend C$2.4 billion on capital projects in 2008.

The company also expects production, after royalties, to rise between 8 percent and 10 percent to 220,000 barrels of oil equivalent per day (boepd) to 240,000 boepd.

It expects C$2.9 billion of cash flow, assuming crude oil prices of $70 a barrel and $6.75 per million British thermal units. (Reporting by Michael Erman; Editing by Andre Grenon)