CNOOC LTD | CIK:0001095595 | 3

  • Filed: 4/19/2018
  • Entity registrant name: CNOOC LTD (CIK: 0001095595)
  • Generator: Unknown
  • SEC filing page: http://www.sec.gov/Archives/edgar/data/1095595/000095010318004942/0000950103-18-004942-index.htm
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    • ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory

    8.        KEY MANAGEMENT PERSONNEL’SREMUNERATION

     

    Key management personnel are those persons having authority and responsibility for planning, directing and controlling the activities of the entity, directly or indirectly, including any director (whether executive or otherwise) of the Company.

     

    (i)      Directors’ remuneration

     

     

     

     

     

     

     

     

     

     

    Salaries

     

     

    Total

     

     

     

    allowances

    Performance

    Pension

    paid/payable

     

     

     

    and benefits

    related

    scheme

    during

     

     

    Fees (1)

    in kind (1)

    bonuses (1)

    contributions

    the year

     

     

    RMB’000

    RMB’000

    RMB’000

    RMB’000

    RMB’000

     

     

     

     

     

     

     

     

    2015

     

     

     

     

     

     

    Executive directors:

     

     

     

     

     

     

     

     

     

     

     

     

     

    Li Fanrong(4)

    -

    170

    470

    117

    757

     

    Wu Guangqi(5)(7)

    -

    170

    470

    117

    757

     

     

     

     

     

     

     

     

    Subtotal

    -

    340

    940

    234

    1,514

     

     

     

     

     

     

     

     

    Non-executive directors:

     

     

     

     

     

     

     

     

     

     

     

     

     

    Wang Yilin(2)

    -

    -

    -

    -

    -

     

    Yang Hua(2)(4)(10)

    -

    -

    -

    -

    -

     

    Lv Bo(7)

    -

    -

    -

    -

    -

     

    Wang Jiaxiang(3)

    -

    -

    -

    -

    -

     

     

     

     

     

     

     

     

    Subtotal

    -

    -

    -

    -

    -

     

     

     

     

     

     

     

     

    Independent non-executive

     

     

     

     

     

     

    directors:

     

     

     

     

     

     

    Chiu Sung Hong

    899

    -

    -

    -

    899

     

    Lawrence J. Lau

    763

    -

    -

    -

    763

     

    Tse Hau Yin, Aloysius

    899

    -

    -

    -

    899

     

    Kevin G. Lynch

    763

    -

    -

    -

    763

     

     

    Subtotal

    3,324

    -

    -

    -

    3,324

     

     

    Total

    3,324

    340

    940

    234

    4,838

     

     

     

     

     

    8.        KEY MANAGEMENT PERSONNEL’SREMUNERATION (continued)

     

    (i)      Directors’ remuneration (continued)

     

     

     

     

     

     

     

     

     

     

     

    Salaries

     

     

    Total

     

     

     

    allowances

    Performance

    Pension

    paid/payable

     

     

     

    and benefits

    related

    scheme

    during

     

     

    Fees (1)

    in kind (1)

    bonuses (1)

    contributions

    the year

     

     

    RMB’000

    RMB’000

    RMB’000

    RMB’000

    RMB’000

     

     

     

     

     

     

     

     

    2016

     

     

     

     

     

     

    Executive directors:

     

     

     

     

     

     

     

     

     

     

     

     

     

    Yang Hua(2)(4)(10)

    -

    -

    -

    -

    -

     

    Yuan Guagnyu(4)(8)

    -

    94

    78

    70

    242

     

    Li Fanrong(4)

    -

    92

    454

    59

    605

     

     

     

     

     

     

     

     

    Subtotal

    -

    186

    532

    129

    847

     

     

     

     

     

     

     

     

    Non-executive directors:

     

     

     

     

     

     

     

     

     

     

     

     

     

    Liu Jian(6)

    -

    -

    -

    -

    -

     

    Wu Guangqi(5)(7)

    -

    92

    454

    59

    605

     

    Lv Bo(7)

    -

    -

    -

    -

    -

     

     

     

     

     

     

     

     

    Subtotal

    -

    92

    454

    59

    605

     

     

     

     

     

     

     

     

    Independent non-executive

     

     

     

     

     

     

    directors:

     

     

     

     

     

     

    Chiu Sung Hong

    957

    -

    -

    -

    957

     

    Lawrence J. Lau

    812

    -

    -

    -

    812

     

    Tse Hau Yin, Aloysius

    957

    -

    -

    -

    957

     

    Kevin G. Lynch

    812

    -

    -

    -

    812

     

     

    Subtotal

    3,538

    -

    -

    -

    3,538

     

     

    Total

    3,538

    278

    986

    188

    4,990

     

     

    2017

     

     

     

     

     

     

    Executive directors:

     

     

     

     

     

     

     

     

     

     

     

     

     

    Yuan Guangyu(4)(8)

    -

    197

    455

    134

    786

     

    Xu Keqiang(9)

    -

    146

    162

    94

    402

     

     

     

     

     

     

     

     

    Subtotal

    -

    343

    617

    228

    1,188

     

     

     

     

     

     

     

     

    Non-executive directors:

     

     

     

     

     

     

     

     

     

     

     

     

     

    Yang Hua(2)(4)(10)

    -

    -

    -

    -

    -

     

    Liu Jian(6)

    -

    -

    -

    -

    -

     

    Wu Guangqi(5)(7)

    -

    -

    -

    -

    -

     

     

     

     

     

     

     

     

    Subtotal

    -

    -

    -

    -

    -

     

     

     

     

     

     

     

     

    Independent non-executive

     

     

     

     

     

     

    directors:

     

     

     

     

     

     

    Chiu Sung Hong

    972

    -

    -

    -

    972

     

    Lawrence J. Lau

    824

    -

    -

    -

    824

     

    Tse Hau Yin, Aloysius

    972

    -

    -

    -

    972

     

    Kevin G. Lynch

    824

    -

    -

    -

    824

     

     

    Subtotal

    3,592

    -

    -

    -

    3,592

     

     

    Total

    3,592

    343

    617

    228

    4,780

     

     

     

     

    8.        KEY MANAGEMENT PERSONNEL’S REMUNERATION (continued)

     

    (i)      Directors’ remuneration (continued)

     

    Notes:

    (1)    Fees, salaries, allowances, benefits in kind and performance related bonuses represent the gross amount (before applicable individual salary tax) paid/payable to individual directors.

    (2)    On May 19, 2015, Mr. Yang Hua was appointed as Chairman of the Board and Chairman of the Nomination Committee of the Company and has no longer served as Vice-chairman of the Board. Mr. Wang Yilin resigned as Chairman of the Board, Chairman of the Nomination Committee and non-executive director of the Company.

    (3)    On September 23, 2015, Mr. Wang Jiaxiang retired as a non-executive director of the Company.

    (4)    On 15 June 2016, Mr. Yang Hua was re-designated as an Executive Director and appointed as the Chief Executive Officer of the Company. Mr. Yuan Guangyu was appointed as an Executive Director and the President of the Company. Mr. Li Fanrong resigned as an Executive Director, the Chief Executive Officer and the President of the Company.

    (5)    On 15 June 2016, Mr. Wu Guangqi was re-designated as a Non-executive Director of the Company and resigned as the Compliance Officer of the Company.

    (6)    On 20 December 2016, Mr. Liu Jian was appointed as the Vice Chairman and a Non-executive Director of the Company.

    (7)    On 20 December 2016, Mr. Wu Guangqi was appointed as a member of the Remuneration Committee of the Company. Mr. Lv Bo resigned as a Non-executive Director and a member of the Remuneration Committee of the Company.

    (8)    On 18 April 2017, Mr. Yuan Guangyu was appointed as the Chief Executive Officer of the Company. Mr. Yuan Guangyu resigned as the President of the Company.

    (9)    On 18 April 2017, Mr. Xu Keqiang was appointed as an Executive Director and the President of the Company.

    (10)  On 18 April 2017, Mr. Yang Hua was re-designated as a Non-executive Director of the Company. Mr. Yang Hua resigned as the Chief Executive Officer of the Company and he remains as the Chairman of the Board.

     

    The Company has adopted the share option schemes for the grant of options to the Company's directors. The fair value of share options for the directors measured according to the Group's accounting policy as set out in note 3. No Directors exercised any share option in 2015, 2016 or 2017. No new share option was granted to Directors in respect of their services to the Group under the applicable share option schemes of the Company in 2015, 2016 or 2017. Further details of share option scheme and valuation techniques are set out in note 26.

     

    Save as disclosed above, there was no arrangement under which a director waived or agreed to waive any remuneration during the year. In 2017, the executive directors' remuneration shown above were for their services in connection with the management of the affairs of the Company. The other directors' remuneration shown above were for their services as directors of the Company.

     

     

     

    8.        KEY MANAGEMENT PERSONNEL’SREMUNERATION (continued)

     

    ( ii )     Other key management personnel’s (excluding Directors’) remuneration

     

     

    2015

    2016

    2017

     

     

     

     

    Short term employee benefits

    8

    7

    9

    Pension scheme contributions

    1

    1

    1

    Amount paid/payable during the year

    9

    8

    10

    Share options*

    -

    -

    -

     

    9

    8

    10

     

     

     

     

     

    The bands of the remuneration of other key management personnel (excluding Directors) and the related number of members of other key management personnel (excluding Directors) are as follows:

     

     

    Number of employees

     

    2015

    2016

    2017

     

     

     

     

    Nil to RMB 2,000,000

    10

    10

    12

     

    10

    10

    12

     

    *               This item represents the fair value of share options measured according to the Group's accounting policy as set out in note 3. No other key management personnel exercised any share option in 2015, 2016 or 2017.