Sustainability Report 2014
Balancing environmental, social and economic performance is entrenched in DOF’s policies and practices.
Building Our Future
In 2014 we strengthened our position in the global market. The DOF Subsea division has successfully completed one of our biggest subsea projects to date. We have also successfully secured two important long-term international contracts.
Globally the DOF Group comprises of approximately 5380 employees. Our aim is to develop our employees and retain the competence through ongoing Human Resources initiatives. DOF have launched an extensive development programme for employees through the DOF Academy in order to support a learning culture.
Global compliance to international standards is of strategic importance to DOF as it confirms our commitment to ensuring that our global business and operational practices exceed the requirements of independent accreditation authorities. Recognised compliance with such standards provides our clients with a high level of confidence that DOF has processes and procedures in place to meet their project expectations.
DOF has a Safety Management System certified by DNVGL with annual global audits to verify compliance with their requirements. The DOF internal audit programme is regularly updated to ensure compliance with new regulations is incorporated in all business entities and vessels.
Improving through the Market Turndown
The postponement of projects and increased cost focus from our clients, combined with increased competition puts pressure on business opportunities. DOF are reviewing our costs and capacity levels across the Group.
However, through the establishment and implementation of continuous improvement initiatives best work practices and principles are being introduced.
Despite the prevailing market conditions, we have several ongoing initiatives to become a more cost effective and streamlined global organisation.
Balancing environmental, social and economic performance is entrenched in DOF’s policies and practices. It is essential for DOF to be recognised by our stakeholders as a dependable, reliable and competent partner therefore DOF has established the role of Chief Sustainability Officer to lead the organisation’s improvement and compliance programme.
Our goal is to improve our performance within sustainability, by establishing reporting according to the Global Reporting Initiative and have high expectations for the effect on our organisation. Specifically the Carbon Disclosure Project has been a driving force for reducing emissions and improving the fuel efficiency on our vessels.
GRI reporting is a significant undertaking for the Group. The process demands a robust reporting method. The outcome is the ability to identify and measure meaningful and globally comparable sustainability indicators specific to the Group’s business and most important to our stakeholders.
Business Systems and Processes
The continuous development and implementation of standardised business systems and processes to provide decision makers with accurate reporting capabilities in order to support the strategic objectives of the DOF Group for the benefit of all stakeholders.
Organisation’s Main Challenges
The transition of our business model from Time Charter / Subsea Operations to essentially a Subsea Operations requires DOF to:
- Develop relationships with major global Energy and Petrochemical companies.
- Development of a high performance fleet / assets capable of operating in a global market.
- Establish DOF’s 10 Life-Saving Rules as the foundation and guiding principles for all safety related activities.
- Balance risk and opportunity in a sustainable way to ensure that potential risk exposure is identified and managed.
Bergen, 23th October, 2015
Chief Executive Officer