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Compliance program is a
competitive factor for companies
and institutions of all economic
segments. The adoption of
governance measures offers more
transparency to business and
reinforces ethical commitments
of corporations. The Relations
with Associates Executive Director
of the Sistema FIRJAN, Ricardo
Maia, believes that compliance is
a permanent practice in the oil &
gas market.
“As Petrobras, a large market
demander, requires compliance
with rules from its suppliers, it
replicates to other companies
throughout the supply chain.
Other organizations will
start demanding the same
requirements. Companies will
need to adapt their processes or
may not manage to maintain their
operations in this market”,
Maia warned.
According to him, one of the
advantages of the process is to
find gaps in the implementation
of the code of conduct, both in
internal programs as well as in
external relations: “For instance, in
the way of dealing with contracts,
orders and deliveries”.
The director of the Sistema
FIRJAN alerts to the fact that there
are companies that are not yet
organized to deal with the new
reality. “In large companies this is
not a new practice, but in small
and medium-sized ones it is. In
many of them, the compliance
functions are exercised by their
owners”, Maia noted.
MARKET APPLICATION
Renato Bertani, executive director
of Barra Energia, points out
COMPLIANCE,
A MATTER OF SURVIVAL
For the oil & gas industry, compliance measures are a factor of competitiveness
Image bank/iStock
that this is not just a matter
of ethics, but something that
makes economic sense. “No
organization, whether contractor
or supplier, will be able to survive
without the application of solid
governance practices. Currently,
for a company to have access
to capital, it must have a strict
program of ethics, transparency
and anti-corruption practices”.
Bertani mentions another positive
impact of the process: “If a
company wants to monetize some
or all of its assets, potential buyers
will probably investigate whether
if there is a compliance program
implemented. Otherwise, there
is a tendency for devaluation of
assets”.
Specifically in the case of Barra
Energia, which has among its
investors the two main American
private funds focused on the
energy sector – First Reserve and
Riverstone –, Bertani explains
that the company implemented a
compliance program as part of its
business model, since the first day
of activity, in 2010.
The organization implements
compliance programs, but
their effectiveness depends on
“No company,
whether contractor
or supplier, will
be able to survive
without the
application of
solid governance
practices"
Renato Bertani
Executive Officer of Barra Energia
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OCTOBER 2015 | CARTA DA INDÚSTRIA