SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 6-K
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REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
For October 17, 2003
CNOOC Limited
(Translation of registrant's name into English)
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65th Floor
Bank of China Tower
One Garden Road
Central, Hong Kong
(Address of principal executive offices)
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(Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F)
Form 20-F X Form 40-F
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(Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.)
Yes No X
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(If "Yes" is marked, indicate below the file number assigned to the registrant
in connection with Rule 12g3-2(b): N/A.)
PRESS RELEASE NO. 1
Appointment of New Chairman and Chief Executive Officer
(Hong Kong, October 17, 2003) - CNOOC Limited (the "Company"; NYSE: CEO; SEHK:
883) announces today that Mr. Wei Liucheng has resigned as Chairman and Chief
Executive Officer of the Company and that Mr. Fu Chengyu has been appointed as
Chairman and Chief Executive Officer of the Company with effect from October
16, 2003.
Mr. Fu has become the President of China National Offshore Oil Corporation
("CNOOC"), the Company's parent, following a recent appointment.
Mr. Fu is a board member and was the chief operating officer and president of
CNOOC Limited. He has very extensive experience in the industry after working
for both local and foreign oil companies in China for over 28 years. He
graduated from Northeast Petroleum Institute in China and received a Master's
degree in petroleum engineering from University of Southern California in the
United States.
Mr. Fu said, "I am excited about this appointment and the challenges and
opportunities associated with it. I will work closely with the board,
management team and staff, with a view to bringing the Company to a new
plateau."
Mr. Zhou Shouwei, president of the Company said, "Mr. Fu is a familiar face to
our shareholders and the market. I am confident that the Company will further
grow and develop under his leadership."
Attachment:
[OBJECT OMITTED] Mr. Fu Chengyu
President, China National Offshore Oil Corporation
Chairman and CEO, CNOOC Limited
Mr. Fu Chengyu was born in 1951. He graduated from Northeast Petroleum
Institute in China and received a Master's degree in petroleum engineering
from University of Southern California in the United States. He has over 28
years of experience in the oil industry in the PRC.
Mr. Fu previously worked in China's Daqing, Liaohe and Huabei oilfields. He
joined China National Offshore Oil Corporation ("CNOOC") in 1982 and served as
chairman of the joint management committee formed through joint ventures
between CNOOC and the international oil companies including BP Amoco, Chevron,
Texaco, Phillips Petroleum, Shell and Agip, etc. He was vice president of
CNOOC Nanhai East Corporation from 1994 to 1995. In December 1995, he was
appointed vice president of Phillips China Inc. and general manager of the
Xijiang Development Project. In 1999, Mr. Fu became president of CNOOC Nanhai
East Corporation.
Since 2000, Mr. Fu has been a vice president of CNOOC. In 2001, he served as
executive director, executive vice president, and president and chief
operating officer of CNOOC Limited. In August 2002, Mr. Fu was appointed
chairman and chief executive officer of China Oilfield Services Limited, a
listed oilfield service vehicle of CNOOC.
In October 2003, Mr. Fu became president of CNOOC.
PRESS RELEASE NO. 2
CNOOC LIMITED EARNED A2 (STABLE) RATING FROM MOODY'S
(Hong Kong, October 17, 2003) - CNOOC Limited (the "Company"; NYSE: CEO; SEHK:
883) announced that Moody's Investors Service ("Moody's") upgraded the issuer
rating of the Company and the foreign currency long-term debt rating of its
guaranteed subsidiary, CNOOC Finance (2002) Limited, to A2 from Baa1.
Moody's also upgraded the issuer rating of the Company's parent - China
National Offshore Oil Corporation from Baa1 to A2.
The outlook on all the ratings is stable.
Mr. Mark Qiu, CFO and Senior Vice President of the Company, commented, "we are
happy to see Moody's recognition of the Company's strength. The rating upgrade
will serve as a strong reminder to the markets about
CNOOC Limited's strong financial profile, competitive cost structure and solid
operations. It will benefit the Company in reducing funding costs in the
future."
End
Notes to Editors:
CNOOC LIMITED - BACKGROUND
Incorporated in Hong Kong in August 1999, CNOOC Limited (SEHK: 883; NYSE: CEO)
is the dominant producer of crude oil and natural gas offshore China. CNOOC
Limited is also one of the largest independent crude oil and gas exploration
and production companies in the world. As of December 31, 2002, its net proved
reserves were 2.0 billion barrels-of-oil equivalents and its net production
averaged 352,780 BOE per day for the first half of 2003.
CNOOC Limited has interests in 45 crude oil and gas properties in four major
producing areas offshore China: Bohai Bay, Western South China Sea, Eastern
South China Sea and East China Sea. The Company is a major oil and gas company
in China with slightly over 2,047 employees. The Company has become the
largest offshore producer in Indonesia after the acquisition of Indonesian
assets.
CNOOC LIMITED - RELATIONSHIP WITH ITS PARENT COMPANY
CNOOC Limited, incorporated in Hong Kong, is a 70.6% held subsidiary of China
National Offshore Oil Corporation ("CNOOC"). CNOOC Limited is the sole vehicle
through which CNOOC carries out oil and gas exploration, development,
production and selling activities offshore China and internationally.
CNOOC, the parent company, is involved in the administrative, research, and
services functions for the China offshore petroleum industry as well as other
mid- or downstream petroleum projects.
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This press release contains statements that are not historical facts,
including statements about beliefs and expectations of the directors of CNOOC
Limited (the "Company"). These forward-looking statements are based on current
plans, estimates and projections, and therefore you should not place undue
reliance on them. Forward-looking statements speak only as of the date they
are made, and the directors of the Company undertake no obligation to update
publicly any of them in light of new information or future events.
Forward-looking statements involve inherent risks and uncertainties. You are
cautioned that a number of important factors could cause actual results to
differ materially from those contained in any forward-looking statement. Such
factors include, but are not limited to changes, of the PRC's economic,
political and social conditions as well as government policies.
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For further inquiries, please contact:
Mr. Xiao Zongwei
CNOOC Limited
Tel : +86 10 8452 1646
Fax: +86 10 8452 1441
E-mail: xiaozw@cnooc.com.cn
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Ms Anne Lui/Ms. Maggie Chan/Ms. Carol Chan
Ketchum Newscan Public Relations
Tel: 852-3141-8016/852-3141-8063/3141-8091
Fax: 852-2510-8199
E-mail: anne.lui@knprhk.com
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carol.chan@knprhk.com
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maggie.chan@knprhk.com
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
as amended, the registrant has duly caused this report to be issued on its
behalf by the undersigned, thereunto duly authorized.
CNOOC Limited
By: /s/ Cao Yunshi
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Name: Cao Yunshi
Title: Company Secretary
Dated: October 17, 2003