The 20^th meeting of the 1^st term board of directors of FREP was held on April 27^th at the 15/F board meeting room at Fulian Building. Chairman Gu Yuefeng chaired the meeting. FREP Directors, Supervisors, Office of President, Operation General Manager, Project General Manager and shareholders’ representatives attended the meeting. General Managers of Technical & Planning Department, Finance Department and Human Resources & Administration Department also presented at the review of related agendas as non-voting attendees.

The company management delivered presentations to the meeting covering Performance Report of 2015 and 2016 1Q, 2016 Capital Projects, Finance and DOAG Related Items, People Management Plan, FREP Master Plan, with relevant items reviewed and approved.

The directors fully recognized FREP’s good accomplishments of 2015 in aspects of HSE performance, margin improvement, operating expenses control, energy management etc., especially the outstanding performance in overall profit and cash flow. At the meeting, the directors expected FREP management to attach high importance to field HSE management, continuously improve reliability, reduce oil loss and further enhance profitability of the company.

The company management commented that FREP has confidence to continuously improve the company operation. With strong leadership of directors and great support of shareholders, FREP will realize the approved objectives of safety, reliability, profit, operating expenses and people as the Business Plan.（Yu Wei）