Hong Kong, China - August 19, 2010, Hong Kong, China - CNOOC Limited, an oil and gas company, announced that Fu Chengyu has resigned as CEO and remains the chairman of the board. Yang Hua has been appointed as new CEO and vice chairman, but he resigns as president and CFO. Li Fanrong has been appointed as new president of the company.
Article continues below
Mr. Chengyu received a B.S. degree in geology from the Northeast Petroleum Institute in China and a master degree in petroleum engineering from the University of Southern California in the United States.
Mr. Chengyu has more than 30 years of experience in the oil industry in the PRC. He previously worked in China's Daqing, Liaohe and Huabei oil fields.
Mr. Chengyu joined China National Offshore Oil Corporation (CNOOC), the controlling shareholder of the Company in 1982 and served as the Chinese Deputy Chief Representative, the Chief Representative, and Secretary to the Management Committees.
Mr. Chengyu aslo served as the Chairman of the Management Committees formed through joint ventures between CNOOC and Amoco, Chevron, Texaco, Phillips Petroleum, Shell and Agip.
After that, Mr. Chengyu served as Deputy General Manager of CNOOC Nanhai East Corporation, a subsidiary of CNOOC, the Vice President of Phillips China, the General Manager of the Xijiang Development Project, the General Manager of CNOOC Nanhai East Corporation and the Vice President of CNOOC.
Mr. Chengyu became the Executive Vice President, President and Chief Operating Officer of the Company in 2001. Mr. Chengyu became the President of CNOOC in October 2003 and the Chairman of the Board of Directors and Chief Executive Officer of the Company, effective October 16, 2003.
Mr. Chengyu also serves as the Chairman of China Oilfield Services Limited, CNOOC Finance Corporation Limited and Zhonghai Trust Co. Ltd.
Mr. Chengyu is also a Chairman of the Presidium of China Federation of Industrial Economics and the Vice-chairman of China Chamber of International Commerce.
Mr. Hua is a 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. Hua joined CNOOC in 1982 and has more than 28 years of experience in petroleum exploration and production. From 1982 to 1992, he 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.
From 1993 to 1999, Mr. Hua 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. In 1999, he became a Senior Vice President of the Company.
From 2002 to 2003, he was Director and President of CNOOC Southeast Asia Limited, a subsidiary of the Company. Mr. Hua was appointed as the Chief Financial Officer of the Company with effect from January 1, 2005, as well as the Executive Vice President of the Company from December 2005 to March 2009.
Mr. Hua was appointed as General Manager of CNOOC China Limited, a subsidiary of the Company, President of the Company and Chairman of CNOOC Southeast Asia Limited, a subsidiary of the Company, with effect from February 10, 2009, 31 March 2009 and 31 July 2009 respectively.
From November 2006 to April 2010, Mr. Hua served as Assistant President of CNOOC, and was appointed to be Vice President of CNOOC in May 2010. He also serves as Director of CNOOC Finance Corporation Limited, and Director of CNOOC China Limited and CNOOC International Limited, both being subsidiaries of the Company, and Chairman and Director of CNOOC Deepwater Development Limited, a subsidiary of the Company.
Mr. Fanrong is a senior engineer. He obtained a B.S. degree majoring in oil production from Jiang Han Petroleum Institute in China in 1984, and received an MBA degree from the Business School of Cardiff University in United Kingdom in July 2003.
Mr. Fanrong joined CNOOC in 1984. From 1984 to 1989, he was Petroleum Engineer in Nanhai East Oil Corporation of CNOOC. From 1989 to 2001, he worked as Offshore Platform Supervisor in Huizhou Oil Field for ACT Operators Group, later as Production Manager in Liuhua Oil Field Joint Operating Group with Amoco Orient Company, and Assistant to President of CNOOC Limited Shenzhen Branch and Managing Director of Lufeng 22-1 Oil Field Joint Operating Group with Statoil.
From January 2002 to November 2005, Mr. Fanrong worked as Vice President of CNOOC Limited Shenzhen Branch and Chief Representative of Joint Management Committee in CACT (CNOOC-AGIP-Chevron-Texaco) Operators Group.
From November 2005 to February 2007, Mr. Fanrong worked as General Manager of Exploration and Production Department of the Company. From February 2007 to January 2009, he worked as President of CNOOC Limited Shenzhen Branch.
From January 2009 to April 2010, Mr. Fanrong was appointed as Assistant President of CNOOC. He serves as President of CNOOC Energy Technology & Services Limited since February 2009, and serves as Vice President of CNOOC since May 2010. ■