Report on the Management Board’s work in 2016
The Gazprom Neft Management Board considers matters on a scheduled basis taking into account the decisions of the General Meeting of Shareholders and the Board of Directors as well as matters submitted by the CEO and Management Board members. The Management Board’s work plan is also compiled based on the proposals of the heads of Gazprom Neft structural units.
As one of the tools used to additionally inform Board of Directors members about the Company’s performance results, the Charter and Regulation on the Gazprom Neft Management Board provide for MD&A management reports (management’s discussion and analysis of financial conditions and operational results) to be sent to members of the Board of Directors on a quarterly basis.
In 2016, there were 22 meetings of the Gazprom Neft Management Board, including 15 in-person meetings, during which various issues of the day-to-day operations of the Company’s Management Board were considered. The main issues included:
- Transactions were approved for the acquisition of the assets of the Rospolikhim Group of Companies and an interest in the charter capital of NOVA-Brit LLC and the establishment of Gazpromneft-Catalytic Systems LLC.
- The performance results of the Upstream Division, Shelf Projects Development Unit and Downstream Division in 2015 were considered.
- Information about the execution of the Gazprom Neft Group’s Investment Programme and Budget (financial plan) for 2015 was taken under advisement based on the Company’s performance in 2015 and instructions were given to submit this information to the Board of Directors for consideration.
- information about the development strategy for the Gazprom Neft PJSC resource base was taken under advisement and priorities were identified for the development of the resource base in the coming five years. The recommendation was given to consider the main provisions of the development strategy for the Gazprom Neft PJSC resource base at a meeting of the Gazprom Neft PJSC Board of Directors.
- The decision was made as part of the item ‘On the establishment of a system to manage data used when resolving production and business tasks at the Gazprom Neft Group’ to set up a cross-functional working group comprised of representatives of the main production units and present a drafted policy concerning the management of the data to the Gazprom Neft PJSC Management Board for consideration.
- A new version of the Gazprom Neft PJSC Corporate Conduct Code was approved. The Corporate Conduct Code included a new value – ‘Safety and a Green Focus’. The Company’s vision in industrial, environmental and occupational safety and civil defence is worded as: ‘Goal – Zero. No Harm to People, the Environment or Property when Performing Work’.
- The business plans of the production units for 2017-2019 were considered.
- Information on the preliminary results of the implementation of the Gazprom Neft Group’s Investment Programme and Business Plan for 2016 was taken under advisement.
- The Gazprom Neft Group’s Consolidated Business Plan for 2017-2019 was taken under advisement.
|Member of the Management Board||Number of meetings attended by the member of the Management Board||Total number of meetings which the member of the Management Board could have attended|
|A. V. Dyukov Chairman of the Management Board||22||22|
|I. K. Antonov||17||22|
|V. V. Baranov||18||22|
|V. V. Baryshnikov||19||22|
|A. M. Dybal||19||22|
|E. A. Ilyukhina||18||22|
|K. A. Kravchenko||18||22|
|A. N. Patrushev||19||22|
|A. M. Cherner||20||22|
|V. V. Yakovlev||21||22|
|A. V. Yankevich||19||22|