Corporate Governance
Committed to transparency, accountability, and excellence in corporate governance
Board of Directors
In line with the Company’s Articles of Association and subsequent amendments, the Company is governed by a Board of Directors composed of nine (5) members elected by the General Assembly of Shareholders. On 30 April 2026, nominations for Board membership were officially announced in accordance with the applicable procedures.
Mr. Eng. Sulaiman Khalifa Al-Musallam was duly elected on 30 April 2026 in compliance with these procedures. Following this, the Board of Directors was formally constituted, with members. The Board structure includes a Chairman, a Vice-Chairman, the Chief Executive Officer, and three additional members, two of whom is an independent member. This composition ensures an adequate number of members from the required committees and meets the governance standards established by the Board.
Board Members
Eng. Sulaiman Khalifa Al-Musallam
Chairman of the Board
Elected on 30 April 2026
Dr. Ghazi Ibrahim Al-Enezi
Vice Chairman & CEO
Member since 30 April 2026
Eng. Ibrahim Salman Al-Salman
Independent Member
Member since 30 April 2026
Mr. Mohammed Khaled Al-Hamad
Independent Member
Member since 30 April 2026
Governance & transparency statement
Corporate Governance
At Ahl Alkhaleej Group, sound corporate governance is the foundation upon which every project, partnership, and business decision is built. With more than two decades of dedicated service to Kuwait Oil Company across its various fields, we have established a track record that speaks to both our technical capabilities and our institutional integrity. As a company specializing in drilling and workover well location construction and infrastructure, we recognize that our shareholders and investment partners require not only operational excellence but also the assurance that their capital is managed with the highest standards of accountability. Our governance framework is structured around clearly defined roles and responsibilities at the board and executive levels, ensuring that strategic decisions are made with rigor, oversight, and a firm commitment to long-term value creation.
Our Commitment to Transparency
Transparency is not a periodic obligation at Ahl Alkhaleej Group — it is a continuous commitment embedded in how we plan, execute, and report. Over twenty years of consistently delivering quality outcomes and meeting project timelines for KOC has instilled in our organization a culture of discipline, precision, and open communication. We maintain timely and structured engagement with our shareholders through regular financial disclosures, project performance reporting, and investor briefings that reflect the true state of our operations. Our internal controls and audit processes are designed to provide an accurate and complete picture of the company’s financial position and project portfolio, giving our investment community the confidence to make informed decisions grounded in reliable and consistent data.
Internal Control
Corporate Governance
At AHL AL KHALEEJ, we are committed to maintaining the highest standards of corporate governance to ensure transparency, accountability, and sustainable business performance. Our governance framework is designed to align with the best international practices while supporting the company’s operational goals and stakeholder interests. Through a structured system of oversight, policies, and procedures, we ensure that all business activities are conducted ethically and in compliance with applicable laws and regulations.
Internal Control
AHL AL KHALEEJ has established a robust internal control system aimed at safeguarding company assets, ensuring the accuracy of financial reporting, and promoting operational efficiency. The internal controls are embedded across all levels of the organization and are regularly reviewed to adapt to changing risks and business conditions. These controls help mitigate potential risks, prevent fraud, and ensure that all processes are executed in line with approved policies and procedures.
Governance Framework
Our governance framework defines clear roles, responsibilities, and reporting structures across the organization. It serves as the foundation for effective decision-making and strategic direction. The framework integrates risk management, compliance, and performance monitoring to ensure that the company operates within a controlled and well-regulated environment. By aligning governance practices with business objectives, AHL AL KHALEEJ ensures long-term value creation and organizational resilience.
Internal Audit
The Internal Audit function at AHL AL KHALEEJ operates independently to provide objective assurance on the effectiveness of internal controls, risk management, and governance processes. Through systematic reviews and audits, the function identifies areas for improvement and ensures compliance with internal policies and external regulations. Internal Audit plays a vital role in strengthening accountability and supporting management in achieving operational excellence.
Board Committees
The Board of Directors is supported by specialized committees that focus on key areas such as audit, risk management, and governance. These committees enhance the effectiveness of the Board by providing detailed oversight and expert recommendations on critical matters. Each committee operates under defined terms of reference, ensuring transparency, accountability, and informed decision-making at the highest level of the organization.
Board Committees
The Board of Directors has established several committees to assist in fulfilling its governance and oversight responsibilities. Each committee operates under a charter that defines its purpose, composition, authority, and responsibilities. Committee members are appointed by the Board and include both executive and non-executive directors, including independent members where required.
Audit Committee
Mr. Mohammed Khaled Al-Hamad
Committee Chairman
Eng. Ibrahim Salman Al-Salman
Vice Chairman
Major General Nasser Mukhlif Al-Enezi
Member
Primary Objective
To enhance the integrity of financial reporting, strengthen the effectiveness of internal controls, and ensure regulatory compliance.
Key Responsibilities:
- Review financial statements and reports prior to their submission to the Board.
- Monitor the accuracy, completeness, and reliability of financial reporting.
- Assess the effectiveness of the internal control framework.
- Oversee Internal Audit activities and review its plans and reports.
- Recommend the appointment of the External Auditor and monitor its independence.
- Review regulatory and audit observations and ensure that corrective actions are implemented.
Meeting Frequency
- At least four meetings annually (quarterly).
← Responsible for financial oversight, auditing, and internal control matters.
Risk Management Committee
Eng. Ibrahim Salman Al-Salman
Committee Chairman
Major General Nasser Mukhlif Al-Enezi
Vice Chairman
Dr. Ghazi Ibrahim Al-Enezi
Member
Primary Objective
To establish an effective risk management framework and ensure its alignment with the nature and complexity of the Company’s activities.
Key Responsibilities:
- Develop and periodically update the Risk Management Strategy and related policies.
- Identify, measure, assess, and monitor risks and their mitigation plans.
- Oversee credit, market, operational, compliance, and other material risks.
- Ensure the effectiveness of the Company's risk management systems and processes.
- Submit periodic reports to the Board regarding significant risks and risk exposures.
- Promote a strong risk awareness culture throughout the Company.
Meeting Frequency
- At least four meetings annually, or more frequently as required.
← Responsible for identifying, managing, and monitoring risks that may affect the Company's operations and objectives.
Nomination and Remuneration Committee
Major General Nasser Mukhlif Al-Enezi
Committee Chairman
Eng. Ibrahim Salman Al-Salman
Committee Chairman
Mr. Mohammed Khaled Al-Hamad
Member
Primary Objective
To ensure the availability of qualified competencies within the Board and Executive Management and to align remuneration with performance.
Key Responsibilities:
- Recommend the appointment and re-nomination of Board members.
- Review the Board's competency, expertise, and skill requirements.
- Verify and monitor the independence of Independent Directors.
- Develop and maintain the Company's remuneration and incentive policy.
- Review remuneration packages for Board members and Executive Management.
- Prepare the annual remuneration report.
- Prepare the annual remuneration report.
- Support succession planning and leadership continuity initiatives.