HONG KONG, June 15, 2016 /CNW/ -- CNOOC Limited (the
"Company", SEHK: 00883, NYSE: CEO, TSX: CNU) today announced
changes in directors and senior management of the Company. Mr.
Yang Hua has been appointed as CEO
and re-designated Executive Director. He remains Chairman of the
Company. Mr. Wu Guangqi has been re-designated Non-executive
Director and has resigned as Compliance Officer. Mr. Yuan Guangyu
has been appointed as President and Executive Director. Mr.
Li Fanrong has resigned from his
position as CEO, President and Executive Director. Mr. Chen Wei has been appointed as Compliance
Officer and General Counsel. The aforementioned changes take effect
from June 15, 2016.
After Mr. Li was appointed CEO in 2011, he successfully led the
Company in achieving operational targets with his extensive
industry experience and forward-looking vision. The Board of
Directors would like to express their appreciation and gratitude to
Mr. Li Fanrong for his outstanding
contributions to the Company over the past few years, and wish Mr.
Li all the best in his new position.
Mr. Yang Hua, Chairman and CEO of
CNOOC Limited, said, "On behalf of the Board of Directors, I extend
a warm welcome to Mr. Yuan Guangyu on his appointment as President
and Executive Director. Together with Mr. Yuan and the management,
I will lead the Company to proactively tackle the challenges of low
oil prices, adjust our development concept in a timely manner, and
promote the Company's sustainable development to create greater
value for our shareholders."
Mr. Yang Hua
Born in 1961, Mr. Yang is a professor-level senior economist 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 China National Offshore Oil
Corporation ("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.
From 1993 to 1999, he served as the Deputy Chief Geologist, the
Deputy Director and the Acting Director for Overseas Development
Department of CNOOC and the Vice President of CNOOC International
Limited. 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, being a subsidiary of the Company. He also served as
Chairman, Director and President of CNOOC Southeast Asia Limited,
General Manager of CNOOC China Limited and Chairman and Director of
CNOOC International 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 was appointed as Chairman of the Board and
Chairman of the Nomination Committee of the Company with effect
from 19 May 2015. Mr. Yang has been
re-designated from a Non-executive Director to an Executive
Director and appointed as the Chief Executive Officer of the
Company with effect from 15 June
2016.
Mr. Wu Guangqi
Born in 1957, Mr. Wu is a geologist, professor-level senior
economist, Certified Senior Enterprise Risk Manager and Certified
Internal Auditor and graduated with a B.S. degree from the Ocean
University of China, majoring in
Marine Geology. He also holds a master degree in Management from
China University of Petroleum and a doctor degree in
Management from Huazhong University of Science and Technology. Mr.
Wu joined CNOOC in 1982. From 1994 to 2001, he served as the Deputy
General Manager of CNOOC Oil Technical Services Company, a
subsidiary of CNOOC, the Director of the Administration Department
of CNOOC and the Director of the Ideology Affairs Department of
CNOOC successively. Mr. Wu was appointed as an Assistant President
of CNOOC in 2003, and has been the Vice President of CNOOC since
2004. Mr. Wu also serves as the Vice Chairman of China Association
of Risk Professionals, the Vice Chairman of China Association of
Oceanic Engineering, the Director-General of National Energy
Deepwater Oil & Gas Engineering Technology Research Centre
Council and the Chairman of CNOOC Marine Environment and Ecology
Protection Foundation. Mr. Wu served as an Independent
Non-executive Director of China Yangtze Power Limited, a company
listed on the Shanghai Stock Exchange, from May 2003 to July
2010. Mr. Wu has served as the Compliance Officer of the
Company since 1 June 2005 and he also
serves as a Director of CNOOC China Limited and CNOOC International
Limited, all being the subsidiaries of the Company. Mr. Wu was
appointed as an Executive Director of the Company with effect from
1 June 2005. Mr. Wu has been
re-designated from an Executive Director to a Non-executive
Director of the Company and has resigned as the Compliance Officer
of the Company with effect from 15 June
2016.
Mr. Yuan Guangyu
Born in 1959, Mr. Yuan is a professor-level senior engineer. He
graduated from China University of Petroleum with a bachelor's degree in
drilling engineering. He graduated from the EMBA program of China
Europe International Business School in 2007 with an MBA degree.
Mr. Yuan joined CNOOC in 1982 and has over 30 years of experience
in the oil and gas industry. From February
1993 to October 2001, Mr. Yuan
served as Deputy Manager of CNOOC Bohai Drilling Company, Deputy
General Manager of CNOOC China Offshore Oil Northern Drilling
Company, Deputy General Manager of the Operational Department of
CNOOC, General Manager of CNOOC China Offshore Oil Northern
Drilling Company. From October 2001
to February 2009, Mr. Yuan served as
President of CNOOC Services, and Chairman of the Board of
Directors, Chief Executive Officer and President of China Oilfield
Services Limited. In November 2006,
Mr. Yuan was appointed as the Assistant President of CNOOC. In
February 2009, Mr. Yuan was appointed
as the Executive Vice President of the Company. In April 2013, Mr. Yuan was appointed as Director of
Bohai Petroleum Administrative Bureau of CNOOC and General Manager
of CNOOC China Limited Tianjian Branch. Mr. Yuan also serves as the
Director of CNOOC China Limited and CNOOC International Limited,
both subsidiaries of the Company. Mr. Yuan has been appointed as an
Executive Director and President of the Company with effect from
15 June 2016.
Mr. Chen Wei
Please refer to the Company's 2015 annual report for Mr. Chen's
biographical details.
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 Annual Report on Form 20-F filed in April
of the latest fiscal year.
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. Ada Leung
Hill+Knowlton Strategies Asia
Tel: +852-2894-6225
Fax: +852-2576-1990
Email: ada.leung@hkstrategies.com
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SOURCE CNOOC Limited