2011 Annual Report - SBM Offshore

More documents

Recommendations

Info

Business Model The Company generates profits from three distinct activities;; • Lease and operate of our fleet of floating production vessels on long term contracts to clients • Turnkey sale of products to clients, and • Installation, overhaul and repair services to Clients The combined profits generated from all three areas supports payment of dividend while a significant part being re-invested as equity in new leased vessels to support growth of the fleet, which is a highly capital intensive activity. Operational feedback from the FPSOs in the fleet is an important input into further development and improvement of the core competencies i.e. engineering, project management, installation and operations. 1.2.2 Organisation The Company operates through seven execution centres, each of which is managed by a Managing Director who is accountable for its performance. Its principles, rules and guidelines are clearly defined by Group Functions, and provide a clear framework for its execution activities. Managing Directors and Group Functions report to the Board of Management, individually and as members of the Executive Committee. SBM Offshore Four of the execution centres are located in Schiedam (Netherlands), Monaco (Monaco), Houston (USA) and Kuala Lumpur (Malaysia) and are responsible for Turnkey Systems activities (engineering and project management). Fleet Operations are managed by a separate execution centre in Monaco, using a decentralised organisational structure with strong emphasis on shore base operations on location. Turnkey Services activities are managed from several locations but centralised in Monaco. GustoMSC GustoMSC in Schiedam is managed as a separate business unit and operates under the GustoMSC brand. It provides proprietary designs under license and engineering support for all types of mobile units/vessels for the offshore industry, including the supply of associated equipment for the offshore industry. This is a customized selection from the SBM Offshore N.V. Annual Report 2011 4
1.2.3 Future focus SBM Offshore’s strategy is driven by a focus on core high-margin FPSO products, with growth anticipated in its lease fleet as well as in supply of FPSOs and FPSO edge technology. Through strategic and financial partnerships with IOCs, NOCs, local construction yards and financial parties, such as Mitsubishi Corporation, the Company continues to build a competitive edge that will help it secure business and growth in the coming decade. The Company also has a strong focus on technology development for FPSOs to meet the increased complexity and lifecycle of FPSO and related products. In order to maintain high service standards and expand its market leading position, the Company remains focused on research, innovation and development of its products and services and the protection of its Intellectual Property. This is a customized selection from the SBM Offshore N.V. Annual Report 2011 5
Page 2 and 3: Table of contents 1 Overview 1 1.1
Page 4 and 5: esource, through selected R&D, to m
Page 8 and 9: 1.3 Snapshot 2011 (US$ mln.) 2011 2
Page 10 and 11: 1.4 Stakeholders Information 1.4.1
Page 12 and 13: 1.4.5 Investor Relations The Compan
Page 14 and 15: 1.5 Corporate Strategy 1.5.1 Introd
Page 16 and 17: 1.5.2 Vision, promises and values V
Page 18 and 19: The Company only enters partnership
Page 20 and 21: Supply Chain In line with its Code
Page 22 and 23: 1.6 Corporate Management Systems &
Page 24 and 25: Status updates for the implementati
Page 26 and 27: This is a customized selection from
Page 28 and 29: organisation has been implemented w
Page 30 and 31: 3.1.6 Local Content Brazil In Brazi
Page 32 and 33: New contracts During 2011 the Compa
Page 34 and 35: 3.4 Product and Technology Developm
Page 36 and 37: time, and cost. 3.4.3 Offshore LNG
Page 38 and 39: Appointment of a Managing Director
Page 40 and 41: Loans or guarantees No loans or gua
Page 42 and 43: In case a binding proposal is made,
Page 44 and 45: 3.5.5 Shareholders Share capital At
Page 46 and 47: Dividend The Management Board is au
Page 48 and 49: former notary and presently a lawye
Page 50 and 51: This is a customized selection from
Page 52 and 53: Onshore Operations In addition to t
Page 54 and 55: voluntary basis in Brazil for Occup
Page 56 and 57:
Permit-to-Work (Carros) Safety is a
Page 58 and 59:
Although unhappy with the increases
Page 60 and 61:
2012. The primary emissions from th
Page 62 and 63:
3.8 Human Resources 3.8.1 Introduct
Page 64 and 65:
The total headcount is based on all
Page 66 and 67:
This is a customized selection from
Page 68 and 69:
The Employee Share Ownership Plan,
Page 70 and 71:
White Collar Staff Training is base
Page 72 and 73:
3.9 Sustainable Initiatives 3.9.1 C
Page 74 and 75:
3.9.2 Supply Chain in Focus SBM Off
Page 76 and 77:
3.9.3 Local content In a number of
Page 78 and 79:
Equatorial Guinea A very motivated
Page 80 and 81:
the building process, an SBM team a
Page 82 and 83:
This is a customized selection from
Page 84 and 85:
5.1.2 Environmental Reporting Envir
Page 86 and 87:
Total Production of Hydrocarbons Of
Page 88 and 89:
HSS Accident Statistics for Dynamic
Page 90 and 91:
Regional CO2 Emissions Values expre
Page 92 and 93:
Permanent Part Time Employees Headc
Page 94 and 95:
Women Men Equality % of Women in ma
Page 96 and 97:
GRI Index Level C Vision and Strate
Page 98 and 99:
LTIFR = (LTI x 200,000)/ EH Where:
Page 100 and 101:
Powered by TCPDF (www.tcpdf.org) Ke
show all

2011 Annual Report - SBM Offshore

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?