3.8Operational Governance

Operational Governance of the Company is supported by an independent team under Group HSSE and Operational Excellence, which encompasses key operational and assurance functions involved in SBM Offshore’s core business activities and reports directly to SBM Offshore’s Management Board. Such functions have a key role in ensuring a coordinated, consistent and controlled approach to core business over the full lifecycle i.e. Win, Execute and Operate phases, and across the Company’s locations, Fleet Operations and Product Lines through:

  • Functional leadership within the corresponding communities (distributed across entities) and other functions.
  • Ownership and governance of internal systems and procedures, developed in response to known and anticipated risks in line with the strategic direction of the Company.
  • Maintenance of GEMS, as introduced in section 3.8.1.
  • Maintenance of GTS, as introduced in section 3.8.2.
  • Management of improvement initiatives.
  • Coordination and harmonization of the Company’s ways of working and internal standards.
  • Specific focus on the product lifecycle, notably based on a cross-functional gate process and internal arbitration if necessary.
  • A focused hazard and effects management process that builds on experience in order to continuously improve the performance of our HSSE barriers such that the risk exposure is reduced to as low as reasonably practicable.
  • An internal Incident Management Committee (connected in turn to the Risk Assurance Committee referred to in section 3.6.1) to ensure that lessons are effectively learned from incidents.
  • Coordinated assurance activities focusing on risk management, compliance, effectiveness, business performance.
  • Involvement of independent third-parties as certification, verification or classification bodies.

A detailed certification and classification table is provided in section 5.5, mapping compliance with international certification standards and classification rules.

Note: for complementary details on SBM Offshore’s approach to Operational Excellence, refer also to section 2.1.4.