Looking Forward

Innovation is embedded in our almost two century-old DNA. This has allowed us to emerge leaner and stronger from the deepest slowdown the oil and gas industry has ever seen. At the same time, we have pivoted to play a crucial role in the big energy transformation that is upon us.

Oil and gas remain central to our business. We have played a key role in bringing down costs in the industry, enabling more projects to move ahead. We rounded off 2017 with a strong order intake. Solid execution on major projects globally and significant efficiency improvements are supporting margins amid increasing signs of a market recovery.

But we are at heart a technology and engineering company. With those skills you can be anywhere and solve any problem. The world will always need more energy – in whatever form – especially as we transition to a low-carbon society. That is why we are focused on sustainable solutions. Subsea is already playing a major role, but we are also branching out to put our expertise harder to work on gas developments, carbon capture and offshore wind.

We see ourselves as a key partner in helping provide the sustainable energy solutions the world needs – it’s both the right thing to do and also good business.

Read the full CEO introduction in the annual report.

Annual Report 2017

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