Implementation of good governance principles

SNH’s good governance is six-fold:

• Participatory and objective-based management;
• Codification of administrative, financial and accounting procedures;
• Negotiation and signing of oil contracts within the framework of a permanent commission chaired by SNH, and comprised of representatives of public administrations concerned by the different aspects of the contracts;
• Marketing of crude oil through contracts;
• Regular transfer of oil revenues to the Public Treasury, which are included in the Government’s financial operations table;
• Regular audit of corporate accounts by renowned firms.