Our Board of Directors is collectively responsible for our management and strategy. The Board of Directors supervises the interests of stakeholders, the creation of a culture aimed at long-term value creation, the internal audit function, and the effectiveness of internal risk management and control systems. Our management team is charged with day-to-day management and is responsible for the continuity and optimization of our business to create long-term value for our stakeholders.
ADNOC Drilling has historically held a strong corporate governance framework which has been matured since 2020 and further enhanced pre-IPO to be fully aligned with the SCA corporate governance guidelines.
In terms of ethics and compliance, we strive to conduct all business activities responsibly, efficiently, transparently, and with integrity and respect towards stakeholders. In doing so, we promote a culture of performance, collaboration, and responsibility. These values underpin everything we do and defines the day-to-day attitudes and behaviours of our employees.
Relationship Agreement with ADNOC
We have entered into the Relationship Agreement with ADNOC which, among other things, ADNOC will agree not to take certain actions that might interfere with our status as an independent company and we agree to enter into transactions with ADNOC, or any other company that is directly or indirectly owned or under the control of ADNOC, only with the approval of a majority of our Board of Directors, including a majority of the independent directors.
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