Corporate Governance   

 

Corporate governance stands for responsible business management geared towards long-term value creation. It significantly influences the firm performance. As it is a key driver of sustainable corporate growth.

A good corporate governance practices in a firm present opportunities to manage risks and add value. Moreover, it provides a sustainable competitive advantage among other firms  

Petrojet was founded in 1975 thus having an experience for over 45 years. With a qualified and dedicated 36000 employees and a modern fleet of construction equipment, It provides integrated services to Oil, Gas, Petrochemical Industries, Infrastructure and Civil works. It is responsible for developing mega complex projects locally and in the MEA region.

Petrojet solidly adheres to the latest international standards pertaining to Quality Management, Occupational Health and Safety and Environmental Management systems.

Petrojet considers a solid corporate governance system to be a prerequisite for long-term and sustainable value creation through:

• protecting the interest of corporate shareholders

• Enhancing Petrojet’s local and regional reputation as a trusted and highly qualified construction company.

•  Promoting transparency and accountability.

• Strengthening flexibility in the enforcement of the rights and duties of the different corporate constituents.

  • The company is aiming at empowering the board of directors and its members. It realizes the growing importance of the board role regarding internal controls and enterprise risk management. It also admits the growing interest in activating committees of the board.

Petrojet believes that:

• • Truly good corporate governance is not readily subject to simple one-size-fits-all rules

  • Truly good corporate governance is about the complex relationships of people who lead the enterprise and the systems and policies that influence their behavior,

  • Truly good corporate governance is about human dynamics in a complex organizational setting which is devoted to creation of economic value