English 
Spanish 
2 min read
New Odebrecht compliance and governance measures will be presented to Petrobras and what is expected is the return of the company's participation in bids later this year
Odebrecht changed its brand name to Odebrecht Engineering & Construction (OEC) and may be starting to turn the tide for the Odebrecht group. After so much bad news, it looks like the storm that hit the group is starting to ease.
The company plans to present to a Petrobras group the new compliance and governance measures that are being adopted in the companies of the conglomerate.
Things started to get complicated for Odebrecht when investigations into the car wash operation pointed to corruption in the company's contracts, with involvement even in international contracts in Mexico and Peru.
- How about earning R$1.770 + R$1.562 in meal vouchers + benefits working only 30 hours a week at Equinor? Norwegian multinational has job openings for those with higher education in progress
- Samsung is hiring: vacancies with salaries of up to R$2.500 and exclusive benefits promise to revolutionize your career in 2025
- Selection process for the position of Fleet Assistant II at SAMU! FAHECE announces job vacancy with salary of R$2.935,13 + attractive benefits; Applications open until January 17th
- Petrobras can celebrate! Exploration of new pre-salt layer that promises to yield BILLIONS of barrels of oil for the state-owned company should finally be authorized, says minister
In 2016, the company signed a leniency agreement and since then has been strengthening its Compliance and Governance systems in line with the current public commitment assumed by the group, including the replacement of its board of directors.
What to do to convince Petrobras
The OEC, however, does not have much time to try to convince Petrobras that the changes it has adopted have already had an effect.
Petrobras' bids are already underway and Odebrecht's target will be those that will take place in the second half of this year, but it is by winning these contracts that OEC now hopes to get out of the difficult situation that has shaken the entire group.
The revitalization of OEC, however, does not exclude the possibility of the Odebrecht holding company entering into a judicial recovery process.
Bradesco, along with other creditor banks, are trying to reach an out-of-court settlement that can please everyone, stipulating differentiated terms and payment conditions.
