(EnergyAsia, November 24 2011, Thursday) — CNOOC Limited, China’s largest offshore oil and gas producer, has appointed Li Fanrong as its new CEO with immediate effect, succeeding Yang Hua.
Mr Li has served in a variety of operating, engineering and management positions in the Chinese offshore oil and gas industry for over 27 years, including 20 years in CNOOC Limited.
The company’s board also announced that Mr Yang will remain as its vice chairman to focus on strategic issues and President of subsidiary China National Offshore Oil Corporation. He has been re-designated a non-executive director of CNOOC Limited.
Wang Yilin, CNOOC Limited’s chairman, said:
“On behalf of the board of directors, I would like to welcome Mr Li on his appointment as new CEO of the company. I would also like to express our appreciation and gratitude to Mr Yang for his outstanding contribution.”
Mr Yang said: “I am very proud to be able to personally experience the remarkable growth of CNOOC Limited. In the future, I will be more focused on the company’s strategy.”
Born in 1963, Mr Li obtained a B.S. degree majoring in oil production from Jiang Han Petroleum Institute in China in 1984, and an MBA degree from the Business School of Cardiff University in the UK in July 2003.
He started his career as a petroleum engineer in Nanhai East Oil Corporation, a China National Offshore Oil Corporation subsidiary, in 1984.
From January 2009 to April 2010, he served as an Assistant President of CNOOC, and was promoted to Vice President in May 2010.
Four months later, Mr Li was promoted to President and to the board as a director of CNOOC China Limited and CNOOC International Limited, and chairman and director of CNOOC Southeast Asia Limited and CNOOC Deepwater Development Limited.