The Board of Directors is responsible for ensuring that the business of the Company is managed in accordance with the Shareholders’ Agreement. The Board delegates some of its authority to the Chief Executive Officer for the efficient and effective management of the company. The Board of Directors meets three times each calendar year. If urgent matters arise between scheduled meetings, decisions can be taken through circular resolution of the directors. The Board of Directors comprises a maximum of fourteen non-executive members, as follows:

• Government of the Sultanate of Oman: seven members, including the Chairman and the Vice-Chairman
• Shell: two members
• Other Shareholders (except Itochu Corporation): One member each

Itochu Corporation is represented at Board meetings by an Itochu nominee who has no voting rights.