Corporate Governance
The Board and Management of Santos Ltd are committed to the highest standards of corporate governance.
For the seventh year in a row, the integrity of Santos’ corporate governance was recognised in 2009 with the maximum five-star rating in the Corporate Governance Research Report prepared by Horwath and the University of Newcastle.
Santos is a listed major Australian oil and gas exploration and production company. Santos' operations are conducted in accordance with the laws and regulations of the various jurisdictions in Australia, including the Listing Rules of the Australian Securities Exchange (ASX). International operations are also conducted in accordance with the laws and regulations of the countries in which Santos is operating.
The Board of Santos works under a set of well-established corporate governance policies that reinforce the responsibilities of all Directors in accordance with the requirements of the Corporations Act 2001 and the ASX Listing Rules. The Board regularly reviews and updates its corporate governance policies on an annual basis and as required, to ensure that the Company’s policies remain in accordance with best practice, including compliance with the ASX Corporate Governance Principles and Recommendations, and monitors global developments in best practice corporate governance to ensure that the Company’s practises are attuned to global expectations.
The Company’s Corporate Governance Statement comprises a comprehensive overview of Santos approach to corporate governance and can be accessed via the following links to the 2011 Annual Report.
To enhance shareholders’ understanding of the Company’s corporate governance practises, further information about key policies and charters is available on this Corporate Governance section of the Company’s website.
All policies and procedures are regularly reviewed and updated to take account of changes to the law, the Listing Rules and ASX Corporate Governance Principles and Recommendations.
The following key features of the governance framework and practices are set out on the following pages:
The Company Constitution
The Board
Committees of the Board (including Charters)
Other Items (Business Ethics and Code of Conduct, Guidelines for Dealing in Securities, Diversity, Risk Management, Continuous Disclosure, and Environment, Safety and Sustainability.)