CNOOC: Building a World-Class Energy Company

Case Solution

Joseph L. Bower, Nancy Hua Dai, Michael Shih-ta Chen
Harvard Business School ()

Fu Chengyu is the fifth CEO to lead China National Offshore Oil Company, a public company founded in 1982 to develop Chinese offshore deposits. In 2010, he is trying to decide how to drive additional growth for a company that has grown 556 times in less than 30 years and increased profits 2,600 times. He believes that the way CNOOC was conducted, a combination of market orientation and concern for people and the nation, was essential to his success. His challenge is to redistribute resources to new areas to seek oil and new energy sources, and to develop managers who are capable of directing these businesses against world-class competitors. Both technical talent and the ability to integrate the efforts of non-Chinese executives are involved.

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