North Sea operator Nexen is set for a new chief executive after 20-year veteran Kevin Reinhart announced his departure from the firm.
The Canadian company, which was taken over last year by China’s National Offshore Oil Corporation, said Reinhart would be departing from the firm little more than a year after helping to broker the £9.6billion deal.
CNOOC vice president Fang Zhi is to take charge of the firm, which operates the 160,000 barrels a day Buzzard North Sea field
“I’m very pleased to accept this role,” said 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.”
The departure of Reinhart, who was chief financial officer before taking over as interim chief executive in 2012, comes just days after CNOOC said ‘harmony had been further promoted’ between the two firms following last year’s takeover.
“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 CNOOC chief executive Li Fanrong.
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