Corporate Governance

The Board

The Oil Search Board now has nine members comprising seven non-executive directors, the Managing Director, Peter Botten and Executive General Manager External & Government Affairs and Sustainability, Gerea Aopi. For details of Oil Search's current Board members, click here.

When appointing new directors, Oil Search looks for individuals who are leaders in their field and who have a commitment to excellence. Several directors have spent their working life in the oil and gas industry and this experience is invaluable to Oil Search. Oil Search also looks for directors who have exceptional qualifications or experience in other relevant areas with a view to ensuring that the Board consists of the best available talent in as many relevant areas as possible.

The Board has established four committees (Board Committees) to consider and make recommendations to the Board on various areas of decision-making and control.

At the Annual Meeting, the following directors automatically retire and are eligible for reappointment:

  1. Any director appointed to fill a casual vacancy by the Board since the previous annual meeting;
  2. One-third (or if that is not a whole number, the next lowest whole number nearest to one-third) of the directors who are not:
    1. to retire under paragraph (a);
    2. the Managing Director; or
    3. an Alternate Director,

selected by reference to those directors who have been in office the longest. As between directors who have been in office for the same period, those to retire are (unless they otherwise agree among themselves) to be selected by lot.

If a director is not reappointed, the director automatically retires at the conclusion of the annual meeting.

The Chairman meets regularly with the Managing Director and the individual members of the Board to review the Company’s performance. Board members are able to seek independent professional advice, at Oil Search’s expense, where such advice is necessary to satisfactorily fulfil their duties as directors.

Responsibilities of the Board

The Board’s principal responsibility is to provide strategic guidance on all matters of importance to the Company. In addition, the Board is responsible for effectively monitoring management and safeguarding the rights and interests of shareholders and other stakeholders.

The Board represents all shareholders, large and small alike. The Board wants every shareholder, no matter how small their shareholding, to feel that the shareholder can approach any director with questions, ideas or complaints. Each director will respond in a timely and courteous manner and is genuinely interested in answering the shareholder’s questions and resolving the shareholder’s concerns. Rick Lee, in his capacity as Chairman of the Board, issues an open invitation to each shareholder to contact him directly concerning any Company related issue.

Download the Procedure for Selection and Appointment of New Directors (24kb)