Governance

Corporate Governance

The company’s integrated Corporate Management System (CMS) is designed to provide a central governance framework and platform for all its policies, standards, and procedures. MEI’s Corporate Governance establishes a set of business governing principles and minimum operating standards that must be adhere to by directors, officers, and employees at all levels of the company.

The framework of the CMS is set out in our governance structure, business principles, policies, code of conduct and processes. It aims to align our business behaviour with our values, vision, and strategy.

Governance

Governance Structure

The company’s organisation has a conventional structure designed to maximise its efficiency and effectiveness while minimising cost. The business of the company is jointly overseen by the Board of Directors (Board) for governance or supervision of company’s business and the Executive Management Team (Management) for the day-to-day management of the business. Whenever feasible, the company fully engages and leverages trusted specialist local and international independent consultants and advisers.

Governance

Board of Directors & Management Team

The Board establishes the high-level business governing principles and the minimum operating standards that must be adhered to for governance or supervision of the company’s business. It acts as the ultimate decision-making body of the company and advises and oversees management. There are presently four members in the Board comprising the three Directors and the CEO. The Board, in conjunction with the CEO, establishes on an annual basis an agenda for consideration by the Board.

The Management team is responsible for the day-to-day operations and management of the company. It supports the Board in performing its oversight of the business. The team is led by the CEO and is supported by Managers and Consultants with backgrounds in geoscience, engineering, finance, commercial, legal and community affairs. The management team is strong, comprising super-major IOCs-trained, commercially focused professionals with proven track records of executing world-class projects ranging from small, marginal fields to large deep-water assets. They have worked worldwide, in a variety of geological settings (onshore, shallow water and deep-water) and with national, supermajor international companies such as Shell, ExxonMobil, Chevron, BG (now Shell) and small independent oil companies, as well as large upstream services and consulting companies.