Role & Culture of the Board

PetroNor E&P’s Board of Directors of the Company is responsible for establishing the corporate governance framework of the Company, having regard to the Corporations Act 2001 (Cth) and applicable Listing Rules.

In accordance with Oslo Euronext Expand Listing Rules, this corporate governance statement summarises the corporate governance practices adopted by the Company.

Read the current corporate governance plan here

Board Member Selection

The Composition and election of Board members is substantially the province of the shareholders in general meeting. However, subject thereto, the Company is committed to the following principles:

  1. the composition of the Board is to be reviewed regularly to ensure the appropriate mix of skills and expertise is present to facilitate successful strategic direction; and
  2. the principal criterion for the appointment of new Directors is their ability to contribute to the ongoing effectiveness of the Board, to exercise sound business judgement, to commit the necessary time to fulfil the requirements of the role effectively and to contribute to the development of the strategic direction of the Company.

The Board is to comply with the Oslo Børs regulations with respect to Board composition. Directors of the Company are considered to be independent when they are a non executive director (i.e. not a member of management and have not been for the preceding three years), hold less than 5% of the voting shares of the Company and are free of any business or other relationship that could materially interfere with, or could reasonably be perceived to materially interfere with, the independent exercise of their judgement.

The role and responsibilities of the Chief Executive Officer are discharged by Mr. Knut Søvold. The Board considers relevant industry experience and specific expertise important in providing strategic guidance and oversight of the Company, and it believes Mr. K. Søvold is the appropriate person to fulfill the role.


Eyas Alhomouz (Chairman)
Joseph Iskander
Jens Pace
Roger Steinepreis
Alex Neuling
Ingvil Tybring-Gjedde
Gro Kielland

There are procedures in place, agreed by the Board, to enable Directors, in furtherance of their duties, to seek independent professional advice at the Company’s expense.

Board Committees

Please review our annual report