Governance

Executive Committee

Addax Petroleum is led by an Executive Committee that reflects both deep oil and gas industry expertise and diverse cultural backgrounds.

The Executive Committee’s role is to act as a steward of shareholder value and confidence in the Company:

  • It oversees the conduct of the Company’s long-term strategy and day-to-day business.
  • It ensures that processes and systems are in place to mitigate risk and guarantee transparency and ensure compliance with regulations; environmental, health and safety policies; financial practices and reporting requirements.

Reporting to SIPC

Addax Petroleum is owned by Sinopec International Petroleum Exploration and Production Corporation (SIPC), which is managed and operated by the Sinopec Group. SIPC is specialised in overseas oil and gas investment and operations. It manages Sinopec's international exploration and production portfolio, including Addax Petroleum.


Portfolio Item
Yi Zhang Chief Executive Officer
Portfolio Item
Guus Klusener Chief Legal Officer
Portfolio Item
Rudong Liu Chief Financial Officer
Portfolio Item
Guangjun Chen Senior Vice President, Growth
Portfolio Item
Colin Klappa Senior VP Technical
Portfolio Item
Ruud Schrama Senior VP Operations
Portfolio Item
Cornelius Zegelaar Senior VP & Managing Director Nigeria


Risk Management

Addax Petroleum has established a comprehensive risk management and internal control system that ensures strong governance. Our internal control system is aligned with the 1992 version of the Committee of Sponsoring Organisations of the Treadway Commission (COSO) Framework for Internal Control. This framework helps the Company assess and enhance its internal control system in order to achieve efficient operational control, accurate reporting of financial information, and compliance with applicable laws and regulations.

Given the nature of the E&P business, the Company has to deal with great uncertainties and a number of significant risks, such as oil price risks, reserve risks, political and regulatory risks, technical and operational risks (project execution), and financial risks (FX rates, interest rates, etc.).

The Company has an Enterprise Risk Management programme with a clear governance and defined organisation. Within this framework, it has developed Risk Measurement and Modelling that serves to identify the significant risks in terms of production and cash-flow, quantify the risks for trade-off decisions and prioritisation, develop and quantify mitigation activities and link risk measurement to long-term financial planning in order to make risk-return decisions explicitly, not implicitly.

The overall objective is to add value and improve the Company’s results.

CSR Strategic Committee

Driven by our sense of responsibility and commitment to maximising value for all, we strive to apply CSR in all our activities. The successful execution of our CSR strategy requires support and implementation by different internal teams across all functions and locations. Based on this approach, we created a CSR Strategic Committee, which includes members of the Executive Committee, the Managing Directors of Addax Petroleum’s operating companies, and the Communications & CSR, Human Resources and HSSE Managers.

This Committee meets every quarter to provide guidance on CSR initiatives, make decisions with regard to future CSR plans and ensure that the CSR approach is aligned with the Company’s broader business strategy. Information is then shared between the CSR teams and key functional experts (operations, HSSE, human resources, finance, community relations, legal and external affairs) both at HQ and local levels.

This governance structure ensures that:

  • Responsible business is embedded throughout the Company
  • The Company’s CSR strategy delivers maximum benefits at all levels and in all locations
Executive Committee Senior Vice Presidents Yi Zhang Chief Executive Officer Mr Zhang has 30 years of experience in the E&P business. From 1986 to 2002, he worked at the Oil Production Research Institute in Shengli Oilfield Company, the second largest oilfield in China, in various positions from Oil Engineer to Deputy Director in Heavy Oil Institute and Deputy General Manager in Oil Production Research Institute. In 2002, he was appointed General Manager of Oil Production Research Institute within 3 years, during the time he concurrently held the position of Vice-Chief Engineer of Shengli Oilfield Company to take charge of Petroleum Engineering and R&D from 2003 to 2005. In 2005, he was promoted to Vice-President of Henan Oilfield Company where he was responsible for all Oil and Gas E&P, Operations and R&D until he joined Addax Petroleum in August 2009 as Vice-President (Production & Operations). Mr Zhang is a citizen of the People’s Republic of China. He studied MBA courses for half a year at Marshall University, West Virginia and PED courses for 3 months at IMD, Lausanne, Switzerland. Mr Zhang holds a Masters degree in Oil and Gas Development Engineering and a PhD in Oil and Gas Drilling Engineering, both from China Petroleum University, China. Guus Klusener Chief Legal Officer Mr Klusener joined Addax Petroleum in September 2011 after a career of 23 years with Shell. Mr Klusener has held various Legal and Management positions. He started his Legal career in 1988 in The Netherlands and had assignments with various Shell or Shell affiliated companies in The Netherlands, China, Nigeria, Russia and again Nigeria. During both his assignments in Nigeria, totalling more than eight years, Mr Klusener's responsibilities included Regional Legal responsibility also for Cameroon and Gabon. Mr Klusener is a Dutch citizen and holds a Masters degree in Law from Utrecht University in The Netherlands and a LL.M from New York University School of Law. Chuanhui Xu Chief Geological Officer Mr Xu has 28 years experience in the oil and gas industry. He started his career as geological technician in Qinghai Oilfield, China National Petroleum Corp. from 1983 to 1989. In 1989, he was transferred to East China Petroleum and Geology Bureau, Ministry of Geology and Mineral Resources in various positions from Geologist to Senior Geologist and Deputy Director until 1997, where he was mainly engaged in research and operation management of oil and gas exploration and development of the North Jiangsu Basin and Songliao Basin in China. In 1997, he joined China National Star Petroleum Corporation and worked as Director in the Exploration department and Technology department for 7 years. From 2003 to 2009, he was appointed Deputy Chief Geologist in Sinopec International Petroleum Exploration & Production Corporation (SIPC), during the time he was concurrently appointed President of FIOC in Kazakhstan from 2004 to 2006, and in 2007 he worked as Director of the Business Development department in SIPC. In September 2009, he joined Addax Petroleum as Vice-President (Exploration). Mr Xu is a citizen of the People’s Republic of China and holds a Bachelor degree in Petroleum Geology from Chengdu College of Geology, China. Cornelius Zegelaar Senior VP & Managing Director Nigeria Mr Zegelaar joined Addax Petroleum in July 2011 as Managing Director of Addax Petroleum Development (Nigeria) Ltd (APDNL). Mr Zegelaar has an extensive international experience in the oil and gas industry. He started his career with Schlumberger and subsequently joined Shell where he held various positions in both technical areas (Production Technologist, Operations Manager) and Human Resources (International Recruitment Manager, Manager Shell Learning Center), before moving into Senior Management roles. From 2002 to 2005, he worked as Vice-President EP in Venezuela and from 2005 to 2010, as General Manager of SPDC Nigeria, in Warri. Mr Zegelaar is very familiar with Nigeria as his career in this country covers more than 11 years. Mr Zegelaar is a Dutch citizen. He holds a MSc in Mechanical Engineering and graduated from INSEAD. John Baillie Senior VP Non Operated Assets Mr Baillie joined Addax Petroleum in May 2008 as Technical Manager for the Gabon Business Unit and rapidly moved to the role of Development Director taking on increasing responsibilities for development, planning and new asset integration roles. He has been in the upstream oil and gas industry for 30 years. In his career, Mr Baillie has had a variety of positions for Chevron in Canada, California, Angola and Texas in the functional areas of deepwater oil field development, offshore improved recovery projects, hydrocarbon miscible floods, steam floods, gas cycling projects and new field development planning both on and offshore. Mr Baillie is a Canadian citizen and holds a BSc in Chemical Engineering from the University of Calgary, Canada. Colin Klappa Senior VP Exploration & Development Mr Klappa joined Addax Petroleum in May 2008 serving initially as Managing Director Cameroon and later as General Manager Exploration and Managing Director Middle East. Prior to Addax he spent most of his 32-year career with numerous Chevron subsidiaries in upstream E&P technical, managerial and leadership positions in Canada, Australia, United States, Nigeria, UK, Colombia, and Kazakhstan. In 1999 he was appointed President of Chevron Petroleum Company of Colombia and in 2001 as Deputy Manager Fields Development for the supergiant Tengiz and Korolev fields in Kazakhstan. He started his career with Gulf Canada as a geologist in Calgary in 1980 after a two-year post-doctoral research fellowship at Memorial University of Newfoundland. He is a dual British-Canadian citizen and holds BSc and PhD degrees in geology from the University of Liverpool, UK. Ruud Schrama Senior VP Operations & Production Mr Schrama joined Addax Petroleum in January 2013 after a career of 20 years with Shell. Mr Schrama has held various positions in the areas of Operations and General Management. He started his career in 1993 in The Netherlands and had assignments with various Shell or Shell affiliated companies in The Netherlands, UK, Cameroon, Nigeria and Egypt. During his assignments in Cameroon, Nigeria and Egypt, which span circa eight years, Mr Schrama was responsible as general manager for shallow offshore, deep offshore and land operations. Mr Schrama is a Dutch citizen and holds a Masters degree in Mechanical Engineering and a PhD in Systems Engineering, both from Delft University of Technology.
  • YouTube