Module Description: Corporate Governance 17 POLITICS IN THE OIL AND GAS INDUSTRY

Politics in the Oil and Gas Industry 1
POLITICS IN THE OIL AND GAS
INDUSTRY
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Politics in the Oil and Gas Industry 2
Table of Contents
1.1 Introduction................................................................................................................................2
2.1 Corporate Governance...............................................................................................................3
2.3 Documents of Corporate Governance....................................................................................3
2.4 Charters of Committee of the Company................................................................................4
2.4.1 Corporate Governance Committee..................................................................................4
2.4.2 Audit Committee.............................................................................................................5
2.4.3 Finance Committee..........................................................................................................5
2.4.4 Compensation Committee...............................................................................................6
2.4.5 Health Safety and Environment Committee....................................................................7
3.1 Corporate Social Responsibility................................................................................................8
3.1.1 Governance.........................................................................................................................8
3.1.2 Community..........................................................................................................................8
3.1.3 Environment........................................................................................................................9
3.1.4 Employees...........................................................................................................................9
4.1 Boardroom Organization and Management of Transocean Ltd..............................................11
4.1.1 Proactive and Reactive Measures.....................................................................................11
5.1 Reputation Management by Transocean Ltd...........................................................................12
5.1.1 Taking Proactive Actions..................................................................................................12
5.1.2 Being in Control................................................................................................................12
5.1.3 Enhancement of Experiences of the Customers................................................................13
5.1.4 Establishment of Trust of Customers in Every particular Location of the Company.......13
6.1 Management of Reputation at a Glance...................................................................................13
6.1.1 Asking for Reviews from Loyal Customers.....................................................................14
7.1 Recommendation and conclusion............................................................................................14
8.1 References................................................................................................................................15

Politics in the Oil and Gas Industry 3
1.1 Introduction
Transocean Ltd is one of the international providers of offshore contract related drilling services
across the globe for both gas and oil wells. It was established on 18th, August 2008. Its main role
entailed contracting various drilling rigs and therefore they are the major oil producer in the
world. It is situated in Vernier Switzerland. Additionally, it has more than 20 offices across the
world, and these are located in different countries such as India, Norway, Canada and United
States of America among others (Crawford, 2015 p.985).
The company works in a single global market where it offers the contract drilling
services. Also, it is clear that the equipment used for drilling by the Transocean Company can be
used both for development and drilling purposes. However, it carries out both the categories of
drilling (Zheng and Smith, 2017 p.240). There are various drilling units used by the company,
and they include, high specification jackups, ultra-deepwater floaters, deepwater floaters, mid
floaters and riser and environment floaters.
2.1 Corporate Governance
The company is committed towards an upholding of corporate governance which are of high
standard and also other conduct of business activities. The directors of the board regularly
reviews the documents relating to corporate governance including the governance practices of
the company (D’Northwood, 2017 p.480). Also, the corporate governance committee is
responsible for the review of the different practices of governance by the company. There has
therefore been certain new trends and developments such as private ordering, globalization,
technology and shareholder activism among others and this is typically in corporate governance
field which have all been taken into account by Transocean Limited Company.

Politics in the Oil and Gas Industry 4
2.3 Documents of Corporate Governance
There are numerous documents which outlines the different practices of corporate governance in
the company and they include, tax principles statements, modern slavery act statement, code of
integrity, organizational regulations, articles of association and corporate governance guidelines
(Kan, 2018 p.180). Apart from the above mentioned documents, there are also other documents
such as gender pay gap regulations, FIRST shared values and the mission statement.
2.4 Charters of Committee of the Company
There are various committees of the company with a variety of roles to perform with the aim of
ensuring that Transocean has good corporate governance. Such committees include the following
as discussed in the paper below;
2.4.1 Corporate Governance Committee
The directors of the board of Transocean Ltd is entrusted with the appointment of the members
of the corporate governance committee. The committee has different roles to play in the
company, and this entails the following;
Identification of qualified persons who are set to be members of the board of directors.
Establishing a set of principles which are used by the board of directors of the firm
Providing recommendations on the structure, reporting, and operations of the board of
directors
Oversees the annual review of the performance of the board of directors.
Providing advice on the nominees of the board of directors to seek elective posts in the
general meeting of the particular shareholders of the company.
Recommends on the assignments to the directors of the board of the company by the
committee.