SBM Offshore Annual Report 2011 - PDF

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2.3 Information regarding the Supervisory Board members Mr. H.C. Rothermund Swiss, 1943 Function: Chairman since the AGM of 2005 Committee: Chairman of the Appointment and Remuneration Committee dealing with selection and appointment matters and member of the Appointment and Remuneration Committee dealing with remuneration matters. Since May 2011 member of the Audit Committee First appointment as member of the Supervisory Board: 2003 Re-appointment: 2007 Re-appointment: 2011 Current term of office: 2011-2015 A former Managing Director of Shell EP International B.V. Other non-executive Board memberships: Member of the Board of Petrotechnics Ltd. Member of the Board of E.ON Ruhrgas UK Exploration & Production Ltd. Advisory Rohöl-Aufsuchungs-AG Mr. R. van Gelder Dutch, 1945 Function: Vice Chairman Committee: Member Technical and Commercial Committee First appointment: 2005 Current term of office: 2009-2013 A former Chief Executive Officer of Heijmans N.V. A former President and Chief Executive Officer of Royal Boskalis Westminster N.V. Supervisory Board memberships: Chairman of the Supervisory Board of Atlas Services Group Member of the Supervisory Board of Holcim Western Europe Member of the Supervisory Board of Heijmans N.V. Member of the Supervisory Board of Koninklijke Ten Cate N.V. Other: Chairman of the Board of VEUO This is a customized selection from the SBM Offshore N.V. Annual Report 2011 46
Mr. F.J.G.M. Cremers Dutch, 1952 Function: Member Committee: Chairman Audit Committee First appointment: 2010 Current term of office: 2010-2014 A former CFO of Shell Expro UK A former CFO and member of the Board of Management of VNU N.V. Other Supervisory Board memberships: Listed companies: Member of the Supervisory Board of Vopak N.V. Vice-Chairman of the Supervisory Board of Fugro N.V. Member of the Supervisory Board of Unibail-Rodamco S.E. Private Companies: Member of the Supervisory Board of Parcom Capital B.V. Member of the Supervisory Board of Nederlandse Spoorwegen N.V. Member of the Supervisory Board of Luchthaven Schiphol N.V. Other: Member of the Capital Markets Committee of the AFM Member of the Board of Stichting Preferente Aandelen Heijmans Member of the Board of Stichting Preferente Aandelen Philips Mr. F.G.H. Deckers Dutch, 1950 Function: Member Committee: Member Audit Committee First appointment: 2008 Current term of office: 2008-2012 Current position: Chief Executive Officer of Van Lanschot N.V. Other Supervisory Board memberships of private entities: Member of the Supervisory Board of IBM Nederland N.V. Member of the Supervisory Board of Springpaarden Fonds Nederland B.V. Member of the Board of the Netherlands Bankers’ Association This is a customized selection from the SBM Offshore N.V. Annual Report 2011 47
Page 2 and 3: Table of contents 1 Overview 1 1.1
Page 4 and 5: esource, through selected R&D, to m
Page 6 and 7: 1.2.1 Business Model The Company ge
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: 2 Report of the Supervisory Board 2
Page 28 and 29: All Supervisory Directors attended
Page 30 and 31: Organisation A new organisation has
Page 32 and 33: Appointment and Remuneration Commit
Page 34 and 35: 2.1.9 In conclusion The Supervisory
Page 36 and 37: Remuneration Supervisory Board The
Page 38 and 39: The key principles of the RP2011 ha
Page 40 and 41: Short-term Incentive (STI) The STI
Page 42 and 43: Vesting schedule Vesting of the EPS
Page 44 and 45: Employment conditions for statutory
Page 46 and 47: Target number of performance shares
Page 50 and 51: Mr. T.M.E. Ehret French, 1952 Funct
Page 52 and 53: 3 Report of the Board of Management
Page 54 and 55: 3.1.3 Risk Management The Company c
Page 56 and 57: conversion, construction and integr
Page 58 and 59: 3.2 SBM Offshore Lease Fleet Downlo
Page 60 and 61: March 2011 COOL LNG transfer hose c
Page 62 and 63: Turret for Shell's Prelude FLNG She
Page 64 and 65: September 2011 Dow Jones Sustainabi
Page 66 and 67: January 2012 Yme MOPUstor The Comp
Page 68 and 69: Mooring Systems The Company is the
Page 70 and 71: 3.5 Corporate Governance 3.5.1 Corp
Page 72 and 73: Risk Management & In Control Statem
Page 74 and 75: Audit Committee Mr. F.J.G.M. Cremer
Page 76 and 77: Regulations concerning ownership of
Page 78 and 79: Responsibility of shareholders In a
Page 80 and 81: Repurchase of own shares The Manage
Page 82 and 83: The following information is provid
Page 84 and 85: This diagram is based on the COSO (
Page 86 and 87: 3.6.10 Risk profile The risks inher
Page 88 and 89: • strict adherence to the Group M
Page 90 and 91: Crisis management The Management Sy
Page 92 and 93: covenants which was achieved in 201
Page 94 and 95: legal and tax obligations. The Comp
Page 96 and 97: 3.7 HSSE 3.7.1 HSSE Introduction SB
Page 98 and 99:
ISO 14001 certification for Dynamic
Page 100 and 101:
SBM Offshore's 12 Life-Saving Rules
Page 102 and 103:
Skills-KP database The Group HSSE t
Page 104 and 105:
Onshore Operations Some of the coun
Page 106 and 107:
Construction Sites Improved Environ
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Focus on Talent Management & Succes
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Workforce diversity Over the decade
Page 112 and 113:
3.8.4 Employment and remuneration E
Page 114 and 115:
3.8.5 Performance and career develo
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This is a customized selection from
Page 118 and 119:
Anti-Corruption Policy and Complian
Page 120 and 121:
• Reference lists • Organisatio
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quayside large enough to accommodat
Page 124 and 125:
3.9.4 For a better future in Angola
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3.9.5 Leadership & Development Prog
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Michael Wyllie British, 1958 Chief
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• Capital expenditure in 2011 amo
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4.1.4 Order Portfolio The year-end
Page 134 and 135:
In 2010 the corresponding split was
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In accordance with its stated polic
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operate contract which is classifie
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Cash flow/ Liquidities US$ million
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4.2 Financial Statements 4.2.1 Cons
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4.2.3 Consolidated statement of fin
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4.2.5 Consolidated cash flow statem
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• IFRS 1 (amendment) 'First-time
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Segment reporting Operating segment
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Property, plant and equipment Prope
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asis over its useful life, not exce
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the present value of estimated futu
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Deferred tax assets and liabilities
Page 160 and 161:
Warranty provision For most Turnkey
Page 162 and 163:
Dividend distribution Dividend dist
Page 164 and 165:
Period ending 31 December 2011 in t
Page 166 and 167:
Geographical information The classi
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Pensions and other post-employment
Page 170 and 171:
2011 2010 % % Discount rate 2.75 2.
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Year End of vesting period Expiry d
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Expected departures (tranche 1/2/3)
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Note 5. Net financing costs in thou
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Note 9. Dividends paid and proposed
Page 180 and 181:
- Yme and Deep Panuke platforms: th
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2010 in thousands of US$ Developmen
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Other financial assets The item 'Ot
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in thousands of US$ 2011 2010 Nomin
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2011 2010 2011 2010 2011 2010 in th
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Other reserves The other reserves c
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in thousands of US$ Original repaym
Page 194 and 195:
Note 23. Provisions in thousands of
Page 196 and 197:
in thousands of US$ 2011 2010 Withi
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Foreign exchange risk The Company o
Page 200 and 201:
The sensitivity on equity and incom
Page 202 and 203:
Liquidity risk Liquidity risk is th
Page 204 and 205:
in thousands of US$ 2011 2010 Audit
Page 206 and 207:
Note 34. Related party transactions
Page 208 and 209:
4.2.9 Notes to the Company financia
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5. Provisions in thousands of US$ 2
Page 212 and 213:
4.3 Other information 4.3.1 Appropr
Page 214 and 215:
4.4 INDEPENDENT AUDITOR'S REPORT 4.
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4.5 Key figures Key figures in mill
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5.1.2 Environmental Reporting Envir
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Total Production of Hydrocarbons Of
Page 222 and 223:
HSS Accident Statistics for Dynamic
Page 224 and 225:
Regional CO2 Emissions Values expre
Page 226 and 227:
Permanent Part Time Employees Headc
Page 228 and 229:
Women Men Equality % of Women in ma
Page 230 and 231:
GRI Index Level C Vision and Strate
Page 232 and 233:
LTIFR = (LTI x 200,000)/ EH Where:
Page 234 and 235:
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