Corporate Governance

A strong foundation of solid corporate governance has guided the development of Petro Andina’s corporate culture. We endorse the principles of transparency and responsiveness to shareholders, markets and other stakeholders in all of our activities and at all levels of the organization.

The Company has committed to uphold high corporate governance standards which ensure that the corporate governance system is effective as well as ensuring alignment between the performance of the Officers and the Company on a tactical basis with the strategic objectives and goals of the Company. A key component of the Company’s governance framework is the establishment of effective management practices and internal controls. Through its committees, the Board of Directors monitors these practices and ensures that the Company’s systems are designed and operating as they should and that the Company’s legal requirements are met.

Three Committees are formed by the Board of Directors and Executive team to oversee the Company’s overall strategic direction and management:

• Operations and Reserves Committee, including Health, Safety and Environmental stewardship.
• Finance and Audit Committee.
• Corporate Governance and Human Resources Committee.