CNOOC Elects Two New Non-Executive Directors

CNOOC Limited has appointed Professor Kenneth Courtis and Dr. Erwin Schurtenberger as Non-executive Directors of the Company effective immediately. They replaced Mr. Tso Kai Sum and Mr. Will Honeybourne who sat on the board on behalf of strategic investors and whose terms now expired.

Professor Kenneth Courtis is Managing Director of Goldman Sachs and Vice Chairman of Goldman Sachs Asia. Professor Courtis has won numerous prizes and distinctions for his research and is a respectable adviser on international economic, financial and investment matters to many corporations around the world.

Dr. Erwin Schurtenberger was the Ambassador of Switzerland to the People's Republic of China, the Democratic People's Republic of Korea, the Republic of Mongolia and Iraq. He has been an independent business advisor to various multinational corporations and humanitarian aid organizations.

"The management and shareholders of CNOOC Limited are honored to have Professor Courtis and Dr. Schurtenberger serve on the Board. Their insights into global economic dynamics, experiences in international affairs and wisdom of dealing with complex problems will help strengthen the governance of this rapidly growing petroleum company," commented Mr. WEI Liucheng, Chairman and Chief Executive Officer of the Company. "The Board also wishes to thank Mr. Tso and Mr. Honeybourn for their excellent service and contribution. They will be solely missed."

Professor Courtis and Dr. Schurtenberger were previously the Company's International Advisory members.


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