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.