3.2.1SBM Offshore’s Technology Strategy
Given the challenging economic environment and SBM Offhore’s focus on affordability to improve its competitiveness, the majority of the development work in 2015 focused on using technology to reduce field development costs for clients. This primary objective to reduce the cost of its core products is already giving tangible benefits and has also matured a range of new components and products through prototype testing to be market-ready, collecting SBM Offshore’s 5th Offshore Technology Conference (OTC) Spotlight on New Technology Award in five years in the process. The Company’s technology team continues to innovate in areas of gas technology and renewable energies, generating exciting, new ideas for the future.
The Company’s technology development continues to be guided by three key objectives:
- To be driven by market demand − development projects will reflect the current and future challenges faced by its customers in order to provide solutions that are cost-effective and increase productivity
- To improve safety through inherently safe design and/or increasing the Company’s overall rate of return on investment through reduced costs, increased efficiency and/or improved performance
- To retain its technology leadership position in the offshore market and build its competitive advantage