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CNOOC Appoints New CEO and Chairman

Credit: CNOOC
Credit: CNOOC

By The Maritime Executive 11-19-2019 06:09:18

CNOOC Limited has appointed Xu Keqiang, Executive Director and President of the company, as the CEO effective from November 19.

Born in 1971, Xu is a professor-level senior engineer. He graduated from Northwest University with a Bachelor of Science degree in Oil and Gas Geology. He received a master's degree in Coalfield Oil and Gas Geology from Northwest University in 1996. 

Xu joined China National Petroleum Corporation in 1996 and served different positions. From April 2003 to April 2005, he served as Deputy General Manager of Sinopetro Investment Company. From April 2005 to September 2008, he served as Deputy General Manager of CNPC International (Kazakhstan) and concurrently General Manager of CNPC Ai-Dan Munai Joint Stock Company. From September 2008 to March 2014, he served as Deputy General Manager of CNPC International (Kazakhstan) and concurrently General Manager of Joint Stock Company CNPC International Aktobe Petroleum. From March 2014 to March 2017, he served as General Manager of PetroChina Tuha Oilfield Company and Director of Tuha Petroleum Exploration & Development Headquarters. 

In March 2017, Xu was appointed as a Vice President of CNOOC. From April 2017 to June 2018, he served as the Chairman of Nexen Energy ULC, a subsidiary of the company. In between May 2017 and June 2018, he served as the Chairman of a subsidiary of the company - CNOOC International Limited. In May 2017, Xu was appointed as a Director of CNOOC China Limited, a subsidiary of the company. 

Xu was appointed as the General Manager of CNOOC China Limited on May 21, 2018. He was appointed as an Executive Director and the President of the Company with effect on April 18, 2017. 

New Chairman

CNOOC Limited has also appointed Wang Dongjin, an existing Non-executive Director of the company, as Chairman and Chairman of the Nomination Committee with effect from November 18.

Born in 1962, Wang is a professor-level senior engineer and received a Bachelor of Science degree in Petroleum Drilling from Development Department of China University of Petroleum and a Doctor of Science degree in Petroleum Engineering Management from China University of Petroleum-Beijing in 2012. 

From July 1995 to December 1997, he was appointed as Deputy Director-General of Jiangsu Petroleum Exploration Bureau. From December 1997 to October 2002, he was appointed as Vice President of China National Oil & Gas Exploration and Development Corporation (“CNODC”). From December 2000 to October 2002, he also served as President of CNPC International (Kazakhstan) and President of AktobeMunai Gas Corp. From October 2002 to September 2008, he served as President of CNODC.

From January 2004 to September 2008, he was appointed as Assistant President of China National Petroleum Corporation (CNPC) and Vice Chairman of CNODC. From September 2008 to March 2018, he served as Vice President of CNPC. From May 2011 to May 2014, he was concurrently appointed as Director of PetroChina Company Limited. From July 2013 to March 2018, he was concurrently appointed as President of PetroChina. From May 2014 to March 2018, he served as Vice Chairman of PetroChina. In March 2018, Wang was appointed as a Director of CNOOC. In October 2018, he was appointed as President of CNOOC. 

Production

The CNOOC Group is the largest producer of offshore crude oil and natural gas in China and one of the largest independent oil and gas exploration and production companies in the world. Its core operational areas are Bohai, the Western South China Sea, the Eastern South China Sea and the East China Sea. Overseas, the group has oil and gas assets in Asia, Africa, North America, South America, Oceania and Europe.

The company achieved a total net production of 124.8 million barrels of oil equivalent (BOE) for the third quarter of 2019, representing an increase of 9.7 percent year over year. Production from offshore China increased 8.9 percent YoY to 80.2 million BOE. Overseas production increased 11.2 percent YoY to 44.6 million BOE, mainly due to the contribution from the new projects Egina and Appomattox.

During the third quarter, the company made three new discoveries and drilled 19 successful appraisal wells. In offshore China, Kenli 6-1 in Bohai was successfully appraised and is expected to be a mid-sized oil and gas structure. In Guyana, the new discovery of Tripletail was made in the Stabroek block, which is the 14th oil discovery achieved in the block and will support the future development of the Turbot area.