3.10Operational Governance

Operational Governance of the Company is supported by an independent and dedicated team under Group Execution Functions, which encompasses all key operational and assurance functions involved in SBM Offshore’s core business activities.

Such functions have a key role in ensuring a coordinated, consistent and controlled approach to core business during Win, Execute and Operate phases, across the Company’s locations, Fleet Operations and Product Lines, notably through:

  • Functional leadership within the corresponding communities (distributed across entities) and vis-à-vis other functions;
  • Ownership and governance of processes and systems, developed in response to known and anticipated risks in line with the strategic direction of the company;
  • Maintenance of a Global Enterprise Management System (GEMS) as introduced in section 3.10.1;
  • Implementation of continuous improvement initiatives as introduced in section 2.6 led by a dedicated team;
  • Improvement of reporting systems and key indicators to ensure effective oversight and performance monitoring;
  • Coordination and harmonization of the Company’s ways of working;
  • Specific focus on the product lifecycle, notably based on a cross-functional gate process and internal arbitration if necessary;
  • Direct and active involvement in the qualification of suppliers and subcontractors as part of Strategic Sourcing activities (per section 2.10);
  • Governance of partly-owned fabrication yards through the corresponding JV Governance and Management structure;
  • Coordinated assurance activities focusing on risk management, compliance, effectiveness and business performance;
  • Coordinated assurance activities focusing on product conformity vis-à-vis applicable international and local Regulations, Rules, Technical Standards and other applicable requirements as introduced in section 2.7;
  • Involvement of independent 3rd Parties as Certification, Verification or Classification Bodies.

A detailed Certification & Classification Table is provided in section 5.4, mapping compliance with International Certification Standards and Classification Rules.