2.3.1 Strategy
OPERATIONS
SBM Offshore’s assets are key value drivers for the Company, delivering the required production performance to meet client targets and generating a predictable income for SBM Offshore through its long-term lease and operate contracts.
The unrivalled expertise and experience of the 2,300 offshore crew and onshore staff, ensures value creation through safe and efficient operations of the Company’s offshore fleet.
SBM Offshore’s consistent approach to integrating operational feedback into all phases of its projects is the foundation for optimization of its activities across the life cycle. This also greatly contributes to the Company’s capacity to continuously improve its designs and project execution processes.
The close collaboration between EPCI and Operations teams also ensures the successful management of the transition phase through to the completion of the projects. This was demonstrated in the successful startup of three major offshore assets in 2016.
SBM Offshore’s operational experience is based on almost 300 cumulative years of operations and maintenance. This represents a superior track record among peers and is a clear indicator of how such experience matters to clients and why they turn to SBM Offshore, the industry’s leading subcontractor.
SBM Offshore’s Operations team will continue in its pursuit for operational excellence, striving to always deliver improved performance and cost-effective, safe operations. The Company is also actively working to contribute to the Company's growth ambitions, through its O&M Product Line.
TURNKEY
Key drivers for the Company’s turnkey division are the technology teams, the innovations that they develop and the EPCI teams across all five Regional Centers. The Company aims to optimize its technologies and the synergies created by its Regional Centers to develop and offer the most cost-effective and performing solutions as the industry moves towards less complex and lower investment projects.
SBM Offshore believes that simplification is the solution for future turnkey projects and the Company aims to leverage its experience across its turret portfolio from top-end to mid-complexity to basic turret mooring systems. In today’s low oil price climate the fit-for-purpose mooring systems with a basic level of functionalities offer practical and cost-effective solutions while optimizing the NPV equation. Engaging with clients at an early stage of their projects to promote use of SBM Offshore’s specifications, allows clients to benefit from the Company’s vast experience to find the optimal solution, including use of cost-reducing technology. The Company believes that only an experienced mooring system expert like SBM Offshore can offer safe, simple, cost-effective mooring solutions, whilst still meeting design and safety requirements.