Indonesian state oil company Pertamina has signed an agreement with GE Oil and Gas to cultivate ethical business practices to enhance compliance and transparency. The agreement was signed by Hari Karyuliarto, Pertamina chief compliance officer and Frederic Gaillot, GE Oil & Gas global compliance leader. The companies plan to share best practices and training and adopt voluntary standards for compliance and anti-corruption.
Dian Mardiani, compliance manager and corporate secretary of Pertamina said, ‘We contacted GE to learn from its existing compliance program, and GE offered to formalize the relationship between the two companies. This is a wonderful opportunity for both companies to build upon an already strong and transparent relationship.’
Gaillot added, ‘We are entering this agreement to better understand each other’s business practices and goals. Our commitment to compliance and ethical business practices is part of our GE brand and a vital asset for our company. GE has consistently been ranked among the world’s most ethical companies.’ General Electric has been named one of the 110 World’s Most Ethical Companies by The Ethisphere Institute. The same cannot be said for Indonesia which ranked 110 out of 178 countries surveyed in the 2010 Transparency International corruption perceptions index. Some fifty Pertamina professionals graduated earlier this year from GE’s Oil & Gas University, a program that provides leadership, compliance and technology training. The scheme will be extended in 2012 to include Pertamina management. More from www.oilit.com/links/1111_62.
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