Team size: 11
Major legal advisors: Dechert, Ashurst, Allen & Overy

Which recent political, economic, or regulatory changes have impacted the company and the team the most?

Being an oil and gas company, we are deeply impacted by the worldwide movement and regulations towards green energies, sustainability, and reduction of Co2 emissions. CEPSA is fully committed to the energy transition and has published CEPSA’s 2030 Positive Motion Strategy with the ambitious goal of generating more than half of EBITDA from sustainable business by 2030.

This strategy provides greater autonomy to the exploration and production business with the aim of maximising our potential to create value. Because of this strategy we are in the middle of a reorganisation process, which implies the formation of a full-service legal department and the incorporation of the compliance and audit function into my department.

What are the biggest risks facing your industry and how are you preparing your team and company for this?

As an exploration and production company we are facing the challenge of being in a “contaminating business” that needs to keep producing because the world is still dependent on oil and gas. We are seen as a “necessary evil,” but also the enablers towards the energy transition, as we are a profitable business. To face this challenge, we need to turn ourselves into a highly efficient and cost-oriented company, with safety and operational excellence as a key priority.

As I have mentioned before, I am reorganising my team to deal with these challenges and turn it into a more cost-effective and agile organisation. As part of this reorganisation I am creating a pool of versatile lawyers to cover picks of work in certain areas and continuously changing legal advice needs. The biggest challenge I am currently facing is attracting talent and keeping a motivated team to face this new phase.

One of the main changes towards preparing ourselves for the future is the full integration into the business team. My team and I are reporting directly to the head of the exploration and production business. I am part of the executive committee, which involves adopting a full management and executive role.