Corporate Strategic Imperatives

This is how we will manage and operate the business to deliver the objectives.

People

• Continue to enhance workforce effectiveness, giving special emphasis to employee productivity and development.
• Transform KJO into a knowledge-based learning organization.
• Develop qualified Nationals preferentially for placement in managerial, professional and technical positions.
• Provide work and living standards to attract and retain an appropriately qualified workforce to Khafji.
• Maintain recruiting, training and other programs to maximize the National component of the workforce in line with long-term manpower requirements.
• Use contract personnel to supplement the workforce when it is in our economic interest, such as to satisfy short-term needs or highly specialized skill requirements. However, it is not intended to replace employees with contractors solely to meet Company manpower targets.

Technology

• Identify, implement and use appropriate technologies in all operations consistent with our needs, economic objectives and operational standards.
• Provide training programs to employees to maximize the benefits from the use of both general and specialized technology.
• Monitor progress in energy technologies to ensure that our plans are proactive by anticipating their impacts and opportunities for operational improvements.

Excellence

* Conduct all business activities:

• By applying practices, expertise and cost effectiveness that are among the best in the industry;
• To the highest ethical, safety, and operational standards; and
• With a commitment to protect the environment.

* Upgrade and maintain appropriate levels of security, loss prevention and data protection at all KJO facilities and in all activities.

* Continually seek to improve and strengthen relationships with our customers, contractors, suppliers and the Khafji community to leverage the combined capabilities of all parties to best achieve the corporate objectives.

Reliability and Flexibility

• Establish and maintain a maximum sustainable crude oil production capacity that provides reliability and flexibility to economically meet existing quotas and respond to variations in crude demand.
• Manage and develop reservoirs in full compliance with world-class practices.
• Continue a long-term exploration program to evaluate the hydrocarbon potential of the entire offshore partitioned zone, with focus on maintaining oil reserves and evaluating gas reserves.
• Rehabilitate and maintain all operational, industrial and community facilities to appropriate, functional and reliable standards.

Financial Performance

• Implement programs that will maximize the net present value of known and potential hydrocarbon reserves.
• Conduct all activities so as to maximize the long-term profitability of KJO.
• Monitor and measure the financial performance of the entire business as well as each Business Line and Department.
• Pursue development of profitable new business initiatives within the existing portfolio of hydrocarbon reserves.
• Use effective capital and operating cost controls and financial management practices.

Communication

• Foster trust among employees at all levels by promoting open communications and the sharing of ideas within and between Business Lines and Departments.
• Establish and maintain a favorable corporate image through appropriate public relations activities and communications.
• Maintain active and timely coordination with concerned Government entities regarding the Company’s plans and operations.
• Promote understanding, effectiveness and quality through clear instructions, guidelines and policies to all employees, contractors and suppliers.

Best Citizenship

• Maximize the use of locally available goods and services where consistent with our standards and interests.
• Conduct business in a socially and environmentally responsible manner.
• Be a role model to other organizations for co-operation between parties in joint operations settings.