The market for offshore drilling is experiencing a downturn as oil companies are curbing their exploration and spending budgets in response to a falling oil price. Maersk Drilling must reduce costs and enhance efficiency in order to mitigate the impact of the deteriorating market and to deliver valuable services to our customers.
In meeting society’s energy demand under today’s market conditions, we focus on being a responsible business partner, putting the safety of people and the environment first, and on operating an energy efficient fleet of drilling units. It is Maersk Drilling’s belief that this will generate sustainable development for Maersk Drilling and for society.
Meeting the needs of multiple stakeholders
Companies face multiple challenges that go beyond the traditional objectives of running a profitable business that includes meeting the needs of shareholders, customers, employees as well as local communities. The demands on businesses, and expectations regarding how businesses can and should contribute to the environmental, social and economic progress of the communities in which they operate, are greater than ever.
Is this merely window-dressing
Critics may claim that some businesses are masking their actions by painting a pretty picture that focuses on insignificant supplementary activities. To Maersk Drilling, making strategic social investments in a community is a way of generating the greatest shared value. When we see our activities having a positive impact on local communities, our licence to operate is strengthened among the communities and our employees alike.
Growth depends on close stakeholders relations
Our operations create jobs in communities, help to develop local economies through our supply chain, and promote long-term prosperity both for the communities and for Maersk Drilling. We engage with local stakeholders and consider their views in project planning and decision-making, in order to come up with mutually beneficial activities. We support community programmes that address aspects of the societal context, which are insufficiently developed.
What we are doing
- We seek to co-create value by engaging with and understanding the needs of the communities in which we operate through a strategic and systematic approach
- We make sure that our strategic social investments in local communities are sustainable in the long term, and we also apply the strengths of our business to generate the greatest possible positive impact on society
- We engage with our stakeholders regarding our social investments, our business relationships in local communities, and the monitoring of our performance