The implementation of a strong system of corporate governance and compliance policies for the oil and gas industry has become increasingly important for the success and sustainability of companies. It is a fact that inappropriate practices can jeopardize public trust, a company's reputation, transparency, and principles. Therefore, it is necessary to identify, manage and control the company´s inherent risks effectively.
This is why the design and development of a compliance program is an essential tool for OPEX. The program enforces the methodology to carry out periodic evaluations of risks and controls, making it possible to define the next actions to strengthen regulatory compliance. However, to ensure the effectiveness of a compliance program, it is essential to incorporate the company’s Code of Conduct.
OPEX´s Code of Conduct establishes the ethical principles and guiding rules that guide the associates´ practices and decision-making within the organization. By incorporating the provisions of the Code of Conduct into the compliance program, the basic principles (foundation) are laid for an ethical and responsible business environment that strengthens integrity and public trust.
OPEX is a Mexican company specialized in the exploration and drilling of offshore and onshore wells and has successfully implemented a Code of Conduct that guides the behavior of its employees in their daily functions. This Code not only establishes the ethical norms and guiding principles, but also seeks to protect, strengthen and foster the trust that shareholders, clients, associates, suppliers, government authorities and people have placed in the company.
In addition, OPEX has developed a series of specific policies that, together with the Code of Conduct and the compliance policy, ensure high standards of integrity and effectiveness in areas such as health, safety and the environment, in addition to enforcing quality in all operations, supply chain and information security. The company also complies with its contractual commitments to customers, business partners, and subcontractors in a transparent manner, ensuring high standards of regulatory compliance.
In conclusion, the implementation of a compliance program and the incorporation of the Code of Conduct are essential for the success and sustainability of companies in the oil and gas industry. OPEX is an example of how the implementation of strong corporate governance policies and a focus on ethics and legality aid in protecting public trust and ensure integrity and effectiveness for the company.
To learn more about OPEX’s corporate governance policies and actions in favor of legality, ethics, transparency and regulatory compliance, visit: https://www.opex.mx/