Corporate Governance

Sinopec International Petroleum Exploration and Production Corporation (hereinafter referred to as the “SIPC”), a wholly-owned subsidiary of Sinopec Group, carries out external upstream oil & gas cooperation on behalf of Sinopec, is an integrated strategic business unit of Sinopec engaged in overseas oil & gas exploration and production investments and business operations as well as the sole professional company of Sinopec engaged in overseas upstream investments and operations. The headquarters are the center of investment decision and production management, and regional companies perform the functions of supervision, management and service coordination as representative offices of the headquarters, and the national company is the executive center.

In accordance with the articles of association of SIC, Sinopec Group is the contributor (shareholder) of SIPC and exerts the rights as contributor (shareholder). As a state-owned sole investment company, no board of shareholders is established. The Board of Directors is authorized to exert part of the rights of the board of shareholders (shareholders) to determine major issues of the Company.

Presently, there is 1 president, 2 deputy presidents and 9 directors (including 1 employee director) in the Board of Directors of the Company. A Board of Supervisors is established in the Company. The Board of Supervisors consists of three members (two are assigned by the Group, and one is elected from the employees).

The President of SIPC is Zhang Yaocang; Vice Presidents are Wang Zhigang and Zhanqi, Directors involve Zhou Yuqi, Yuan Zhengwen, Li Yang, Chen Qi, Wang Xinhua, Wen Dongfen, Geng Xianliang, Yang Xiaolin and Cong Peixin. Members of Board of Supervisors involve Qiu Fasen, Wang Liqun, Ben Zhengmei.