Code of Conduct

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The Code of Conduct – Introduction from our CEO

I am pleased to introduce you, as a member of the Oiltec Solutions team, to our Code of Conduct. The Code of Conduct, or “the Code”, sets out the rules and standards that we must follow in our company. We have developed ten core principles that describe our expectations with respect to business conduct. We expect you to study these principles and adopt them as your own guiding principles when you make decisions, and we expect you to always act safely within the limits set out in the Code. Our overall ambition is to make ethical, responsible and profitable decisions.

You are expected to read the Code and confirm in writing that you will comply with the Code. If you have any questions about the Code and its principles you should not hesitate to raise it with your line manager.

Oiltec Solution’s strategy is to deliver market leading simulator products and services to the oil and gas industry. We focus on the end value for our customers, made through our well skilled, experienced and ethical employees. Building our business, not about success. It’s about repeating success, again and again for our customers.

The Code applies to all employees. It also applies to the members of the board of directors, representatives for the owners, independent contractors/consultants, temporary staff and hired staff. Whenever we engage someone to perform services on our behalf, we will request the service provider, agent or consultant to comply with our Code, or with a business ethics policy sufficiently strict to ensure ethical, responsible and profitable decisions also by our service providers.

The ten principles in this Code are:

1. We comply with laws
2. We respect our colleagues
3. We ensure healthy and safe working conditions
4. We protect our assets and confidential information
5. We respect fundamental human rights
6. We never make illegal payments
7. We select our business partners carefully
8. We avoid conflicts of interest
9. We compete fairly
10. We operate in an environmentally responsible manner

If you are ever in doubt if a decision upholds the principles set out in the Code, you should not hesitate to ask and seek guidance. Your first point of contact should always be your line manager. Management acknowledges that most employees will face ethical dilemmas in the course of their employment. We encourage you to raise these dilemmas so that they can be dealt with. Open and honest discussions are needed to ensure that we are all on the same track.

To protect the interest of the company we expect you to speak up if you ever see someone acting in breach of the Code. Talk to your manager or use the whistle-blowing channels described in our whistle-blowing policy if you have concerns. You will never experience negative reactions from the company if you report an issue in a proper manner and in good faith.

Take your time to study the Code. Thank you for your efforts!

Best regards,

Tom Bremer

Managing Director

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