Nexen names Fang Zhi as new CEO

Source:Nexen

Nexen names Fang Zhi as new CEO

Following a 20-year career with Nexen, highlighted by overseeing the acquisition of the company by CNOOC Limited, Kevin Reinhart is departing from his role as Chief Executive Officer (CEO) of Nexen Energy ULC, a wholly-owned subsidiary of CNOOC Limited.

"On behalf of CNOOC Limited and the Nexen organization, I want to thank Kevin for his contributions to Nexen and wish him all the best in his future endeavours," said Mr. Li Fanrong, CEO of CNOOC Limited.

Fang Zhi, Executive Vice President, CNOOC Limited, is assuming the position of Nexen CEO.

Fang will bring considerable operational and technical depth to the position, detailed knowledge of CNOOC's organization and processes and extensive executive-level leadership experience at CNOOC Limited. His 30-year career with CNOOC will enable Fang to lead Nexen to collaboratively deliver results for CNOOC Limited.

Fang is well known to Nexen leadership. He has an in-depth understanding of the Nexen organization and has been directly involved in all aspects of integration over the past year.

"I'm very pleased to accept this role," stated Fang. "Nexen is well positioned to create significant value for CNOOC Limited; we've made tremendous gains on integration, our portfolio of assets is world-class, and we have an outstanding team of employees who are committed to driving our success. I'm looking forward to being a part of our organization's bright future."

CNOOC Limited's strategy and priorities for Nexen as a wholly-owned subsidiary remain unchanged.

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