HONG KONG, May 19, 2015 /PRNewswire/ -- The Board of
Directors ("the Board") of CNOOC Limited (the "Company", NYSE: CEO,
SEHK: 00883, TSX: CNU) announced today that Mr. Wang Yilin has
resigned from his positions as Chairman of the Board, Chairman of
the Nomination Committee and Non-executive Director of the Company.
Mr. Yang Hua, an existing
Non-executive Director of the Company, has been appointed as
Chairman of the Board and Chairman of the Nomination Committee of
the Company. In addition, Mr. Yang has no longer served as
Vice-chairman of the Board. The aforementioned changes become
effective from today.
Yang Hua
Born in 1961, Mr. Yang is a professor-level senior engineer and
graduated from China University of Petroleum with a B.S. degree in
petroleum engineering. He also received an MBA degree from the
Sloan School of Management at MIT as a
Sloan Fellow. Mr. Yang joined CNOOC in 1982 and has over 30 years
of experience in petroleum exploration and production. From 1982 to
1992, Mr. Yang served in a number of positions in CNOOC Research
Center including the Director of Field Development Department, the
Manager of Reservoir Engineering Department and the Project
Manager. Thereafter, Mr. Yang was mainly involved in international
business, M&A, corporate finance and capital market operations
in the Company and its subsidiaries. From 1993 to 1999, he served
as the Deputy Chief Geologist, the Deputy Director and the Acting
Director for Overseas Development Department of the Company and the
Vice President of CNOOC International Limited, a subsidiary of the
Company. From 1999 to 2011, Mr. Yang served in a number of
positions in the Company including Senior Vice President, Chief
Financial Officer, Executive Vice President, President and Chief
Executive Officer. Mr. Yang also served as an Assistant President
of CNOOC from November 2006 to
April 2010 and as Vice President of
CNOOC from April 2010 to August 2011. Mr. Yang served as Director and
President of CNOOC from August 2011
to April 2015. He was appointed as
Chairman of CNOOC in April 2015. In
addition, he serves as Chairman and Director of CNOOC China Limited
and CNOOC International Limited, both being subsidiaries of the
Company. He also served as Director and President of CNOOC
Southeast Asia Limited, General Manager of CNOOC China Limited,
Chairman and Director of CNOOC Southeast Asia Limited and Chairman
and Director of CNOOC Deepwater Development Limited, all being
subsidiaries of the Company. He also served as Director of CNOOC
Finance Corporation Limited, a subsidiary of CNOOC. Mr. Yang was
appointed as an Executive Director of the Company with effect from
31 August 2005 and was the Vice
Chairman of the Board of the Company from 16
September 2010 to 19 May 2015,
and was re-designated from an Executive Director to a Non-
Executive Director of the Company with effect from 23 November
2011. Mr. Yang has been appointed as Chairman of the Board
and Chairman of the Nomination Committee of the Company with effect
from 19 May 2015.
Notes to Editors:
More information about the Company is available at
http://www.cnoocltd.com.
This press release includes "forward-looking statements" within
the meaning of the United States Private Securities Litigation
Reform Act of 1995, including statements regarding expected future
events, business prospectus or financial results. The words
"expect", "anticipate", "continue", "estimate", "objective",
"ongoing", "may", "will", "project", "should", "believe", "plans",
"intends" and similar expressions are intended to identify such
forward-looking statements. These statements are based on
assumptions and analyses made by the Company in light of its
experience and its perception of historical trends, current
conditions and expected future developments, as well as other
factors the Company believes are appropriate under the
circumstances. However, whether actual results and developments
will meet the expectations and predictions of the Company depends
on a number of risks and uncertainties which could cause the actual
results, performance and financial condition to differ materially
from the Company's expectations, including but not limited to those
associated with fluctuations in crude oil and natural gas prices,
the exploration or development activities, the capital expenditure
requirements, the business strategy, whether the transactions
entered into by the Group can complete on schedule pursuant to
their terms and timetable or at all, the highly competitive nature
of the oil and natural gas industries, the foreign operations,
environmental liabilities and compliance requirements, and economic
and political conditions in the People's
Republic of China. For a description of these and other
risks and uncertainties, please see the documents the Company files
from time to time with the United States Securities and Exchange
Commission, including the 2014 Annual Report on Form 20-F filed on
22 April 2015.
Consequently, all of the forward-looking statements made in this
press release are qualified by these cautionary statements. The
Company cannot assure that the results or developments anticipated
will be realised or, even if substantially realised, that they will
have the expected effect on the Company, its business or
operations.
For further enquiries, please contact:
Ms. Michelle Zhang
Deputy Manager, Media / Public Relations
CNOOC Limited
Tel: +86-10-8452-6642
Fax: +86-10-8452-1441
E-mail: MR@cnooc.com.cn
Ms. Cathy Zhang
Hill+Knowlton Strategies Asia
Tel: +852-2894 6211
Fax: +852-2576 1990
E-mail: cathy.zhang@hkstrategies.com
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SOURCE CNOOC Limited