Remuneration committee

The board has established a remuneration committee. The work is mainly focused on establishing principles for remuneration to management, to monitor and evaluate variable remuneration and the application of the guidelines for remuneration as well as to construct and propose an incentive programme to the AGM. The remuneration committee reports to the board, normally in conjunction with the following board meeting.

The remuneration committee consist of Per Seime (chairman) and Alexandra Herger.

Audit committee

The board has established an audit committee. The work is mainly focused on supervising the Company’s financial reporting and assessing the efficiency of the Company’s financial internal controls, with the primary objective of providing support to the board in the decision making processes regarding such matters. The audit committee also regularly liaises with the Group’s statutory auditor as part of the annual audit process and reviews the audit fees and the auditor’s independence and impartiality. The Audit committee reports to the board, normally in conjunction with the following board meeting.

The audit committee consist of Klas Brand (chairman), Geoff Turbott and Per Seime.

Technical committee

The board has established a technical committee. The work is mainly focused on monitoring the work program and budget including field development strategies, the development of the reserves and technical review of new ventures opportunities. The technical committee reports to the board, normally in conjunction with the following board meeting.

The Technical committee consist of Rob Anderson (chairman) and Alexandra Herger.