On Jan. 16th, 2012, FREP held 2012 management working conference. FREP OOP members, Department GM/DGM, the heads of PMG, BT managers and employees’ representatives attended the conference.

FREP President Lu Dong made a work report at the conference titled Full Optimization of Management and Constant Promotion of Performance to Lay a Solid Foundation for Building an Integrated Leading Refining & Petrochemical Enterprise in Asia. As stated in the report by Mr. Lu, in 2011, although the macro-economic situation and petroleum/ petrochemical trend was complicated and changeable, FREP withstood various tests and obtained new achievements in each item of work by means of lean management, market expansion, operation optimization, potential exploration and efficiency promotion, creating a good beginning for the five-year goal of "Building a Integrated Leading Oil refining & Chemical Enterprise in Asia", and these achievements should be attributed to the full support from the Shareholder Parties, the correct guidance of the BOD and the concerted efforts made by all FREP staff--- centering on Five Key Focal Areas (KFAs), i.e. safety, reliability, gross margin, operation expense and people, For key work items in 2012, he stressed eight points, i.e. firstly, safety management must be optimized to promote HSE performance; secondly, equipment management must be optimized to improve operation reliability; thirdly, operation management must be optimized to expand gross margin increase space; fourthly, personnel management must be optimized to improve organization efficiency; fifthly, energy management must be optimized to achieve cost reduction; sixthly, control management must be optimized to speed up the establishment of enterprise control environment; seventhly, project management must be optimized to promote ethylene debottlenecking and turnaround preparation; finally, culture management must be optimized to accelerate the construction of beautiful FREP home.

Mr. Abdullah H. Al Sebail and Mr. Brian Ablett, Vice Presidents of FREP, made reports on the work items under their charge.

Furthermore, the participants made discussion in groups and understood each target stated in the KFA documents at the conference.

At last, Mr. Lu Dong made a closing speech. Each agenda was successfully completed. The conference came to a successful close on the afternoon of that day.