Risk and compliance for today’s global oil and gas industry

Many energy companies today are putting significant investment into compliance. The implementation of compliance professionals and the addition of chief compliance officers to work in key business areas allow companies to better apply formalised risk assessments and audits on a regular basis. There must be strong communication between the compliance, internal audit and legal functions continually, and many companies now have a controlled system for identifying, ranking and diminishing emerging risks.

All compliance programmes, however, need the support of senior management and the board of directors.

“Compliance is something which must be taken seriously, and senior management is required to put the proper expectations in place”

Chairman – SCL FZCO