In 2023, 60.8 percent of businesses adhered to worldwide best practices standards, compared to 60.9 percent in 2022. One shareholder has made a decision regarding a proposal that involves the Centralized Internal Audit Service, shareholders, and the Board of Directors.Corporate governance is one of the most crucial factors in assessing a company's level of competitiveness..

The company will never be able to grow if there is no effective mechanism in place to control interactions between the executive board, the shareholders, and the board of directors. Additionally, investors must have faith that the company's management will use their money sensibly to increase capitalization. BIOPETROL COMPANY LLP's corporate governance has been subjected to yearly diagnostics since approval to make sure it conforms with industry best practices. The diagnostics point out the governance framework's shortcomings and offer suggestions for raising the organization's degree of governance. Based on the findings of the diagnostic, corporate governance reform measures are also put into place to guarantee compliance with international best practices.

The Company will use the Kazakhstan Corporate Governance Code, which applies to companies on the Official List. Therefore, to the extent that it is feasible given the size, nature, and board composition of the company, the company must abide by the QCA Corporate Governance Code for Small and Mid-size Quoted Companies (the "QCA Code") as published by the Quoted Companies Alliance (the "QCA"). An outline of how the QCA Corporate Governance Recommendations apply to the Company may be found here.