CorporatePrinciples

loulak's business is conducted by its employees, managers and executive officers, under the direction of the Chairman and the oversight of the Board, to enhance the long-term value of the Company for its shareholders. The Board of Directors is elected by the shareholders to oversee management and to ensure that the long-term interests of the shareholders are being served. Both the Board of Directors and management recognise that the long-term interests of shareholders are advanced by responsibly addressing the concerns of other stakeholders and interested parties including employees, customers, suppliers, government regulators and the public at large. loulak considers world class Corporate principle a prerequisite and cornerstone of sustainable growth. To that effect, the Board of Directors that will consist of four Executive and four non-Executive Directors. The Chairman is elected from the Non-Executive Directors and will be responsible for ensuring the company is governed in line with the business principles, policies, guidelines and standards. Appropriate sub-committees have been established.
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.