Sustainable Supply Chain

In line with the strategic intent, Pacific E&P must highlight the importance of sustainable development, which translates into leveraging open and efficient collaboration throughout the value chain to ensure transparency, quality, optimization of time, compliance with high standards, and implementation of innovative methodologies.

This commitment relies on three lines of action:

 

Development of Suppliers and Contractors

Pacific E&P selects suppliers and contractors that are aligned with the Company’s policies. To do so, Pacific E&P carries out continuous evaluations and audits that qualify their performance, including alignment with the policies and processes related to sustainability.

 

Purchase of Local Goods and Services

In line with Pacific E&P’s strategic framework, the supply chain must ensure that the Company can achieve sustainable growth; this growth must involve shared value in terms of the environment and a minimization of risks inherent to supply. The Company currently has a corporate policy for the national offer of goods and services in Colombia, which promotes the participation of local suppliers and contractors in the purchasing and contracting processes of the Company, keeping in mind suitability, competitiveness, and efficacy.

 

Sustainable Supply Chain Management

For Pacific E&P is key the sustainability in its supply chain, given that it ensures that the purchasing and contracting policies and processes are carried out with the best sustainable practices.

Highlights

During 2014 local purchases totaled US $338,724,842

Pacific E&P expanded the Local Chain Procurement Program (“LCPP”) to 12 municipalities in the Meta and Casanare departments (Colombia), and connected 343 companies between those already developed and those in the process of development. This program allows access to local and regional entrepreneurs to Pacific E&P’s value chain with the goal of strengthening local economies. In 2014, three local companies became suppliers of the Company.

Throughout 2014, Pacific E&P held 24 conversation sessions for potential suppliers with attendance by 638 companies