CorporateGovernance

The Directors are responsible for formulating, reviewing and approving the Company's strategy, budget, capital expenditure and senior personnel appointments. The board of Loulak recognises the need to adopt high standards of corporate governance. In recent months it has reviewed its internal procedures and protocols and will continue to develop and implement appropriate facets of corporate governance in keeping with the needs of both the business and its stakeholders. A corporate procedures manual has been created which sets out the rudiments of Loulak`s approach to corporate governance and internal control.
The Company is led by a management team with over 10 years combined experience in the Oil industry. The Company is committed to deploying the requisite Safety, Technical, Financial and Managerial expertise consistent with industry best practice, in order to achieve accelerated recovery of hydrocarbon from abandoned fields. Loulak is also committed to offering the best professional and technical advice to her clients and partners
In line with the Nigerian Local Content law, Loulak shall support community development projects in the rural communities of Niger Delta to help abolish poverty and build local capacity. This would entail local involvement and participation in the projects where they demonstrate required skills.