Success throughout the cycle

As an industry, we have done a great job developing technology when faced with new challenges. But, to be successful through the cycle, we need to focus on eliminating serious incidents, collaboration, standardization and maximizing value.

A ‘one-team’ approach, including both customers and suppliers, is critical. As projects become increasingly complex and non-routine, we must change behaviors and redefine the norms and benchmarks we are used to — because they are no longer economical in today’s environment.

To deliver results for the long term, the industry must learn to simplify, leverage collective expertise, and think differently. This includes avoiding customization and bespoke solutions, and embracing standardization, which will help us become quicker so we can move forward in tough times.

Let’s agree that this industry is not sun-setting. We have opportunities throughout the value chain where a lot of interfaces happen within complex projects — many transitions that drive us to make mistakes. We can tackle this by up-front transparency so we can guarantee more seamless and faster transitions between operators, contractors, and sub-contractors.

Annual Meeting, 2016