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Thursday, 06 July, 2017

Nobel Oil Services establishes new procedure for work with suppliers

Nobel Oil Services is committed to the highest standards of corporate conduct in all of its business dealings. It maintains an effective ethics and compliance program designed to meet external requirements, guided by its core values: Integrity, Quality, Safety, One Team, and Excellence. Our code of business conduct includes key requirements from our corporate policies and sets expectations and framework for ethical and compliant behavior by those who work for Nobel Oil Services or on behalf of the company.     

Within this frame, Nobel Oil Services established new corporate-wide Vendor Validation Procedure (VVP) to promote compliance and transparency in the selection of suppliers.  

Nobel Oil Services adheres to the stringent ethical requirements and expects its suppliers to do the same. Established in Procurement and Supply Chain division, VVP is designed to ensure compliance of its suppliers.

VVP implicates registration of vendors and execution of due diligence process. To be entered into the master list the supplier has to comply with Anti-Bribery and Corruption (ABC) and Anti-Money Laundry (AML) policies. With the implementation of VVP Nobel Oil Services sets zero tolerance to non-compliance to ensure access to reliable suppliers and manufacturers capable to meet requirements for safety, quality, quantity, integrity, and delivery.  

Ethical business practices positively impact position of Nobel Oil Services in the marketplace and make relationships with the Company valuable for its partners. For mutual benefit Nobel Oil Services aims to further improve VVP based on the requirements of local and international law. 

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