FREP Board of Directors 13^th Meeting was held on October 30, 2012. The meeting was presided by Chairman Lu Dong. BOD members Paul A. Theys, Gary W. Wilson, Lin Li, Deng Hanshen, Abdulaziz Al-Judaimi and Abdallah AL-Saadan were present at the meeting. Supervisor Mr. Matthew J.Aquiar and Mr. Han Baolin, Vice President Abdullah H. Al Sebail, Vice President Brian Ablett, Project General Manager Mr. Hu Hongye etc at management level and relevant people from the shareholders attended the meeting as non-voting attendees.

The production and operation since 2012 as well as the benchmarking and Turnaround/Revamp Strategy for 2013 etc were presented by Office of the President at the meeting. The Business Plan for 2013, Personnel Management Plan for 2013 and SC De-bottleneck Project investment as well as finance and DOAG etc were also reviewed and approved at the meeting.

BOD members at the meeting fully affirmed the performance achieved by the Joint Venture this year and were greatly concerned about FREP optimized operation, efficiency  improvement, construction and development. They required the management to focus on safety, reliability and efficiency improvement and positively cope with great challenges brought about by external market situation. In particular, 2013 will be a critical and challenging year for the joint venture. They expected that the management can properly hit and complete various targets and tasks, including production/ operation, benefit improvement and turnaround/revamp etc through deliberate organization and overall arrangement, thusly laying a solid foundation for building FREP into a leading refining & chemical integrated project in Asia as soon as possible.

This meeting is practical and efficient and defines the targets, tasks and key work for next year, which will positively promote FREP operation and development.