Technical and Reserves Committee

Members of the Technical and Reserves Committee are appointed by the Board and a majority of its members are independent Non-executive Directors.

The Technical and Reserves Committee meets four times each year and otherwise as required.

Committee Members

Alan Booth (Committee Chairman)
Nick Cooper
Bill Higgs
Bill Schrader
Carl Trowell

Role and Responsibility

The Technical and Reserves Committee’s full terms of reference are available below, but in summary, its main responsibilities are to:

  • evaluate the effectiveness of the Group’s technical processes and standards, including the performance of subsurface and commercial assurance processes;
  • review subsurface and operational risks that are assessed to require Board level reporting and endorse the associated mitigation plans and advise the Audit Committee of the Company and, where appropriate, the Board of its conclusions in respect of the same;
  • ensure that there is consistency between the technical activities of the Company and the overall strategy approved by the Board;
  • review the Group’s prospect inventory and advise the Board how best to develop that inventory in line with the Board’s approved strategy;
  • review the technical aspects of any proposal that requires Board approval under the Company’s schedule of matters reserved to the Board and/or internal delegated authorities and to advise the Board if there are any significant technical risks or concerns that the Board should bear in mind when considering any such proposal;
  • evaluate, as required, the technical aspects of any proposed new ventures and advise the Board on the conclusions reached by the Committee in respect of the same; and
  • review the results of management and independent audits of the Group’s reserves and resources and advise the Audit Committee of the Company and, where appropriate, the Board of its conclusions in respect of the same.

Downloads

Download the Technical and Reserves Committee's full terms of reference