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.
Building tomorrow's economies today
Approximately 90% of new hydrocarbon production in the next 20 years will come from developing countries. Many emerging economies have introduced local content requirements into the governmental and regulatory frameworks and the formal local stakeholder expectations, which govern natural resource development, with the objective of creating jobs, promoting enterprise development and encouraging the acquisition of new skills and technologies. Local content is an area that represents both challenges and opportunities to the oil and gas industry.
Do business and society generate shared value?
It is commonly believed that developing countries are being exploited, and that valuable natural resources are being tapped without generating local prosperity through the creation of long-term value. However, if host nations, oil companies, drilling contractors and other business partners work strategically to include local content, then value will be maximised for all parties.
An investment in host nations and business opportunities
Training and developing the talent of local employees, ensuring that our local suppliers comply with our third-party code of conduct, and transferring knowledge to local communities all continue to be a priority for Maersk Drilling. We engage with our local stakeholders to find ways to generate the highest level of shared values.
What we are doing
- We consider local economic, environmental and social development in our core operations and supply chains in order to optimise our operations by being a trusted business partner and employer
- We strive to employ local people on our rigs. This includes training and education programmes as well as the local procurement of goods and services through the integration of local content and sourcing into our human resources and procurement strategies
- We assess our impact on communities in order to demonstrate and drive progress, and to engage with local stakeholders in order to identify joint projects where collaboration will be beneficial