Powering China’s Economic Rise

Fu Chengyu, Chairman of China National Offshore Oil Corporation discusses how China can meet its energy needs.

WHAT: Press conference
WHO:   Mr. FU Chengyu, Chairman of China National Offshore Oil Corportation?
WHERE:  University of Southern California
University Park Campus (UPC)
Ronald Tutor Hall, RTH 526
3710 McClintock Avenue Los Angeles, CA 90089

RSVP for PARKING INFORMATION
Contact: Michael Chung, 213-821-5808, michaedc@usc.edu

WHY: One of the most influential business leaders in the world, Mr. FU Chengyu heads one of the largest energy companies in the China. Later in the day, Mr. Fu will receive the USC Viterbi School of Engineering’s Global Leadership Award. We invite media outlets to speak with Mr. Fu about China’s rising energy needs and his company’s efforts to help meet them.

China is now the world’s largest energy consumer. Mr. Fu’s CNOOC is one of China’s three largest oil firms. It produces oil and natural gas off China’s coasts, as well as off the Indonesian coast and in Nigeria, Australia, and elsewhere.

Among CNOOC’s recent investments was a deal in February where CNOOC purchased a one-third stake in Chesapeake Energy Corporation’s field in Colorado and Wyoming. The deal involved a cash payment of $570 million and up to $697 million in drilling and completion costs. A few days ago, CNOOC purchased one-third stakes in Ugandan oil fields for $2.9 million. CNOOC had net profits of $8.3 billion in 2010 on revenues of $28 billion.

Mr. Fu Chengyu is a USC Viterbi School alum, having earned a masters degree in petroleum engineering.

The event is hosted by Dean Yannis C. Yortsos with discussion moderated by Associate Director of the USC US-China Institute, Clayton Dube.

Additional information:
http://www.cnooc.com.cn/data/html/english/channel_1.html
http://viterbi.usc.edu
http://china.usc.edu