Our outstanding performance in 2016 is an opportunity to take stock of the considerable change of the last two years and the hard-fought progress made in difficult times.

It's also a powerful signpost towards further success and puts us in the driving seat for 2017 as we work towards standing alone outside the Maersk Group in the period ahead.

Our three strategic pillars, (1) maximising value from safe operations, (2) world-class project delivery and (3) building our future business will not be unfamiliar to many of you.

Continuation of the journey we have already begun on all three pillars is an important factor in this year’s targets and objectives from my own goals and those of my MOET colleagues, out across Maersk Oil.

At the Group Capital Markets day I was able to demonstrate how strong performance in the first two pillars is what will underpin our ability to build the future business and position us for a potential IPO/listing, a merger or joint venture as we move ahead with all options on the table.

This year, activities under pillar two will continue to deliver progress. Culzean and Johan Sverdrup both have major development milestones approaching, and we look forward to first oil from our latest operated development in the North Sea, Flyndre, shortly.

I was fortunate enough to get offshore last month to spend a day on the Gorm asset in the Danish Business Unit. The team there has an inspiring track record, well over 800 days without a recordable safety incident. The visit reinforced how important it is that we strive for 2017 to be our safest ever year in Maersk Oil.


I am confident we have the right people, structure and values to activate our safety performance. But I believe we achieve it by restlessly embracing our Incident-Free mindset and support our colleagues every day in this endeavour. We have it in ourselves to improve constantly. I believe we can and will.

We are complimenting the existing Maersk values that underpin the way we work in 2017 by focusing around areas where I believe we can still improve as leaders and colleagues.


More than ever we’ll need to embody Accountability, Collaboration and Trust (ACT) as we work in a simplified and leaner organisation to continue to better our performance. With the Maersk values always at the core of what we do I am confident ACT will elevate the parts of our culture which boost performance.

I am excited by the progress we’ve made since last year’s strategy review to prepare for standing alone as an independent E&P company. I realise that with excitement comes a responsibility to bring our whole organisation on the same journey to ensure we are able to realise the full extent of the opportunity before us. I take that duty extremely seriously.


In conclusion I want to recognise again the dedication of everyone towards our goal of a safe and successful 2017.


Best wishes




Gretchen Watkins