(Hong Kong, November 23, 2011) – The Board of Directors (“the Board”) of CNOOC Limited (the “Company", NYSE: CEO, SEHK: 0883) announced today that, Mr. Li Fanrong has been appointed as the new Chief Executive Officer of the Company. The Board also announces that, due to his responsibility as the President of China National Offshore Oil Corporation which requires more of his time, Mr. Yang Hua resigned as Chief Executive Officer of the Company. Accordingly, he was re-designated from an Executive Director of the Company to a Non-Executive Director of the Company. Mr. Yang continues to serve as the Vice Chairman of the Board and will primarily focus on the strategy of the Company.

Mr. Wang Yilin, the Chairman of the Company commented, “On behalf of the Board of Directors, I would like to welcome Mr. Li on his appointment as new Chief Executive Officer of the Company. I would also like to express our appreciation and gratitude to Mr. Yang for his outstanding contribution to the Company. Mr. Li has served the Company for more than 20 years, and has accumulated abundant operation and management experiences in offshore oil and gas development. I firmly believe Mr. Li has the capability to lead the Company and to create more value to our shareholders.”

Mr. Yang Hua, the Vice Chairman of the Company said, “I am very proud to be able to personally experience the remarkable growth of CNOOC Limited. I would take this opportunity to express my gratitude to the Board and the entire staff for their great support in the past. In the future, I will be more focused on the Company’s strategy, and keep on supporting Mr. Li and his management team.”

Mr. Li Fanrong, the newly appointed Chief Executive Officer of the Company stated, “I am honored to be appointed to this new role. I will fulfill my duty with my best endeavor, to promote the company’s long term sustainable growth.”

Mr. Li Fanrong
Born in 1963, Mr. Li is a senior engineer. He obtained a B.S. degree majoring in oil production from Jiang Han Petroleum Institute in China in 1984, and received an MBA degree from the Business School of Cardiff University in United Kingdom in July 2003. Mr. Li has been working in the oil and gas industry in China for more than 27 years. He joined China National Offshore Oil Corporation (the “CNOOC”) in 1984. From 1984 to 1989, he was a Petroleum Engineer in Nanhai East Oil Corporation of CNOOC. From 1989 to 2001, he worked as Offshore Platform Supervisor in Huizhou Oil Field for ACT (AGIP-Chevron-Texaco) Operators Group, later as Production Manager in Liuhua Oil Field Joint Operating Group with Amoco Orient Company, and Assistant to President of CNOOC China Limited Shenzhen Branch and Managing Director of Lufeng 22-1 Oil Field Joint Operating Group with Statoil (Orient) Inc. From January 2002 to November 2005, Mr. Li worked as Vice President of CNOOC China Limited Shenzhen Branch and Chief Representative of Joint Management Committee in CACT (CNOOC-AGIP-Chevron-Texaco) Operators Group. From November 2005 to February 2007, he worked as General Manager of Development and Production Department of the Company. From February 2007 to January 2009, he worked as President of CNOOC China Limited Shenzhen Branch. From January 2009 to April 2010, he served as an Assistant President of CNOOC. Mr. Li has worked as President of CNOOC Energy Technology & Services Limited since February 2009, and has served as Vice President of CNOOC since May 2010. Mr. Li was appointed as President of the Company with effect from 16 September 2010. He also serves 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, all being subsidiaries of the Company. Mr. Li was appointed as a Non-executive Director of the Company with effect from 23 May 2010 and was re-designated from Non-executive Director to Executive Director with effect from 16 September 2010. He was appointed as Chief Executive Officer of the Company with effect from 23 November 2011.

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