Our Board Committees play an important role in the Board’s focus on strong corporate governance and effective risk management. They address key elements of how we deliver our strategic objectives and how we engage with stakeholders, ultimately protecting our company, people and reputation.

There are four Board Committees: Audit and Financial Risk; People and Nominations; Health, Safety and Sustainability; and the Corporate Actions Committee.  The Board Committees are governed by charters that are approved by the Board. These are reviewed annually.  

Aside from Corporate Actions Committee, each Board Committee has a PNG citizen that is an Independent Committee Member who provides ready access to local experience, knowledge and networks.  These appointments reflect our continued investment in PNG’s future and align with our aim of enhancing the local pool of capable, well-rounded business leaders. See the Corporate Governance Statement for more information.

The charters of each Board Committee can be found in tin Board and Board Committee charters section of the website.

Board and Board Committees' structure and responsibilities

NameResponsibilitiesParticipants
Oil Search Board
  • Setting and endorsing the strategic direction on all matters of importance to Oil Search.
  • Making sure the necessary resources are available to achieve our objectives in a socially responsible manner.
  • Setting Oil Search’s vision, values and standards of conduct and ensuring these are adhered to.
  • Establishing a framework of prudent and effective controls that enable risk to be assessed and managed.
  • Monitoring management and safeguarding the rights and interests of shareholders and other stakeholders .
  • Establishing the remuneration policy for Directors, executives and other employees.

  • Executive Directors: One
  • Non-Executive Directors: Eight
  • Chair: RJ Lee
  • Independent Committee Members: None
Board Committees

Audit and Financial Risk Committee
  • Assisting the Board to fulfil its corporate governance and oversight responsibilities in relation to financial reporting, accounting policies, internal control systems, internal audit and compliance functions, external audit functions and Oil Search’s process for managing compliance with laws and regulations.
  • Affirming that all identified material financial risks arising during the Group’s activities have clearly defined ownership and oversight within the Board and Board Committee structure.
  • Executive Directors: None
  • Non-Executive Directors: Five
  • Chair: FE Harris
  • Independent Committee Members: One
  • Regular attendees from senior management team:
    • Managing Director
    • Chief Financial Officer
    • Head of Assurance and Compliance
    • Group Financial Controller
    • General Manager Treasury
People and Nominations Committee
  • Providing advice and recommendations to the Board regarding the remuneration of Directors, executives and other employees.
  • Providing advice and recommendations to the Board regarding the skills needed and available for the Board to be able to discharge its duties and add value.
  • Reviewing and overseeing the implementation of the Code of Conduct.
  • Overseeing the establishment and monitoring of strategies to promote diversity and inclusiveness, setting objectives on diversity and inclusiveness and reviewing progress against these objectives.

  • Executive Directors: None
  • Non-Executive Directors: Five
  • Chair: AJ Kantsler
  • Independent Committee Members: One
  • Regular attendees from senior management team:
    • Executive General Manager Human Resources
    • General Manager Human Resources
    • Rewards and Systems Manager
    • General Manager Planning and Business Projects
Health, Safety and Sustainability Committee
  • Overseeing Oil Search’s strategies, processes and performance relating to health, safety, security and social responsibility, including human rights and climate change.
  • Ensuring our social responsibility performance and direction aligns with the Board’s policies and expectations.
  • Reviewing potential operational risks in relation to climate change, health, safety,  process safety, environment, community and other matters related to social responsibility.
  • Endorsing our annual social responsibility reporting.
  • Reviewing compliance with laws and regulations that apply to our operations in relation to health, safety and sustainability, and international sustainability frameworks and initiatives.
  • Executive Directors: None
  • Non-Executive Directors: Four
  • Chair: EJ Doyle
  • Independent Committee Members: One
  • Oil Search Foundation representative: Executive Director of the Oil Search Foundation
  • Regular attendees from senior management team:
    • Executive General Manager Technical Services
    • General Manager Safety and Risk
    • General Manager Stakeholder Engagement and Social Responsibility
    • General Manager Health and Shared Services
Corporate Actions Committee

  • Assisting the Board to fulfil corporate governance responsibilities in relation to potential mergers, major acquisitions and divestments, capital raisings and other corporate initiatives as delegated by the Board.
  • Executive Directors: One
  • Non-Executive Directors: Three
  • Chair: RJ Lee
  • Independent Committee Members: None