Stabroek co-venturer CNOOC appoints new president

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CNOOC Limited announced on Friday the appointment of Hu Guangjie as Executive Director and President.

The company said Xu Keqiang has resigned as the President and he remains as an Executive Director and the Chief Executive Officer of the Company.

CNOOC said the changed will take effect immediately.

Born in 1973, Mr. Hu is a professor-level senior engineer. He received a Bachelor of Science degree in Petroleum Engineering (Reservoir Engineering) from Chengdu University of Technology and a Master’s degree in Oil and Gas Field Development Engineering from China University of Petroleum (Huadong).

He served in a number of positions in China Petrochemical Corporation (“Sinopec Group”). In March 2020, Hu was appointed as Vice President of CNOOC and as of March 20, he took over as the president of CNOOC.

The company has a 25 percent stake in Guyana’s Stabroek Block where more than 8 billion barrels of oil equivalent resources have been found since 2015. It will also be lifting its first share of oil from the block this week, according to reports.

The New Melody tanker is expected to load up to 1 million barrels of light, sweet Liza crude for CNOOC when it arrives at the Stabroek Block’s Liza field – some 190 kilometers (118 miles) off Guyana’s coast – around March 24.

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