2.1Introduction

The development of SBM Offshore’s strategy is based on a combination of contributing factors, primarily the monitoring and analysis of the macro environment and the oil and gas industry, feedback from stakeholders and the materiality matrix, Management’s short, medium and long-term views on the market and the Company’s ability to perform in its niche market. Given the dynamic nature of today’s market it is necessary to continuously monitor and readdress the strategy if required.

Although opportunities are few in the current climate, the Company is ready to exploit them and believes that it offers appropriate solutions to meet clients’ needs and cost constraints in today’s market. Management aims to leverage its key resources and capabilities to deliver value to its stakeholders (see section 1.7). The Company aims to continue to be a partner to each client, by collaborating together early on to assess how SBM Offshore’s proven and innovative floating solutions can advance clients’ projects and meet their cost expectations.

SBM Offshore has the ambition to grow, both in terms of size of fleet and monetary value and has structured its strategy around the following three axes:

• Optimize
• Transform
• Innovate