QGEP manages intangible assets that it considers to be strategic to its growth and success. In addition to monitoring risks that involve these assets, the Company invests in actions that enhance how these aspects are viewed by the market and other stakeholders.
QGEP has a competitive advantage as a member of Grupo Queiroz Galvão, which has operated for 61 years in diverse segments such as construction, concessions, energy, real estate development, agribusiness and iron and steel. The association with the Group adds values such as reliability, loyalty, and quality to the Company’s brand. Furthermore, as it is the only publically traded company in the Group, QGEP is also recognized for its consistent relations with its stakeholders and for its strong corporate governance practices.
In 2013, the Company renovated its offices, with layouts structured within a visual identity that was implemented in 2012 and aligned with the positioning of Grupo Queiroz Galvão. In 2013, QGEP has also begun modernizing its institutional website, which should be launched in the first half of 2014. Additionally, the Company promotes internal motivational speeches by Amyr Klink to strengthen its brand and celebrate the Company’s maritime growth through its active participation in the 11th Round of ANP Bidding.
Also in the second half of 2013, QGEP was named by market analysts as one of the most promising options in 2014 for industry investors, due to its good financial performance in the year and its efficient cost management. The Company was also ranked number 4 among companies with the best current liquidity indices compared to 20 companies in different operational sectors, being the only privately-held and publically-traded Brazilian company in the oil and gas segment. QGEP was also recognized in the 2013 edition of the Melhores da Dinheiro annual ranking. This publication ranks outstanding companies in financial management, corporate governance, social responsibility, human resources, innovation and quality. In the Fuel, Oil and Gas industry, the Company was ranked 2nd in the Financial Sustainability category, 4th in Best Companies, and 5th in Social Responsibility.
Constant investment in research and development is essential to the oil and gas industry. In partnership with universities, QGEP invests in research projects, always meeting the requirements set forth by regulatory agencies. Among projects developed in 2013, those done in conjunction with the Federal Universities of Bahia and Rio de Janeiro are noteworthy. These ongoing studies which have a total investment of around BRL5 million involve integrated environmental research on the southern coast of Bahia to generate knowledge that can be applied to mitigating the environmental impacts of Company activities.
QGEP also acquired a line of credit this year from the Funding Authority for Studies and Projects (Financiadora de Estudos e Projetos – Finep) in the amount of BRL266 million, as the result of innovation applied to the production system planned for the Atlanta Field. QGEP combined technologies already on the market in this Field in a new and innovative manner, making production of heavy oil in ultra-deep waters in Brazil feasible for the first time.
Innovation is also promoted through participation in trade committees, in seminars and in dialogues with Academia, the National Organization of the Oil Industry (Organização Nacional da Indústria do Petróleo – Onip) and the Federation of Industries of the State of Rio de Janeiro (Federação das Indústrias do Estado do Rio de Janeiro – Firjan). Also worth mentioning are active participation in the Brazilian Institute of Oil, Gas and Biofuels (Instituto Brasileiro de Petróleo, Gás e Biocombustíveis – IBP), on different committees such as the Social Responsibility, Sustainability, Legal and Fiscal committees, among others, as well as involvement in coordination and other executive committees or as individual members of the Brazilian Association of Oil Geologists (Associação Brasileira de Geólogos de Petróleo – ABGP), Brazilian Geophysics Society (Sociedade Brasileira de Geofísica – SBGF), Society of Petroleum Engineers (SPE), American Association of Petroleum Geologists (AAPG), Brazilian Institute of Finance Executives (Instituto Brasileiro de Executivos de Finanças – IBEF), Brazilian Institute of Investor Relations (Instituto Brasileiro de Relações com Investidores – IBRI), and others. In these forums, good technical practices are discussed along with matters of interest to the industry and advancement in industry techniques and management. GRI G4-16
For example, in 2013 QGEP took part in an association involving 14 operators connected to the Brazilian Institute of Oil, Gas and Biofuels (IBP) to develop a joint plan to protect and clean the coastline in the event of oil spills. Some of these operators had already done a survey of the locations with the highest probability of being affected after a spill to fulfill one time demands in their environmental licensing processes and had developed plans of action to define the necessary response strategies for protecting and cleaning the coast.
With the goal of producing a single product, the companies discussed a way to unify their studies and, by presenting it in a joint and standardized manner, it covered the entire Brazilian coast, including locations that had not yet been mapped. Development of the Coastline Protection and Cleaning Project provided an important technical and management tool to prioritize environments to be protected in the event of an environmental emergency, applying focused response actions with the aim of reducing environmental consequences as well as making efforts to contain them more agile.
For QGEP, it is of the utmost importance to rely on highly trained, experienced professionals that can make significant contributions the Company’s operations. That is why the Company has adopted a model that promotes an exchange of knowledge among its employees: on the one hand, people with years of industry experience have specific, empirical, and academic knowledge. On the other, young talent is aligned with trends and new technologies. The synergy between these two groups leads to a highly productive and interactive environment. In 2013, QGEP increased its staff to support management of assets (especially development of the Atlanta Field) and as a result of its participation in ANP bidding. In the upcoming years, this team of professionals should grow even further, with eight new Blocks that have been acquired and growth in assets which the Company already possessed.
