Corporate Governance

Civil Liability for the Members of the Board of Directors and the Management

The liability of members of the Board of Directors, executive bodies, employees of the Company and all the Group Subsidiaries is insured by the contract signed with SOGAZ in 2017 and approved by the Annual General Shareholders Meeting.

This third-party liability insurance policy covers all possible risks during the reporting year with a total liability limit of USD 150 mln.

Additional liability limits apply to:

  • all independent directors capped at USD 6 mln and each independent director capped at USD 1 mln;
  • protection against environmental pollution capped at USD 2.5 mln and environmental management capped at USD 5 mln.