IDEAS home Printed from https://ideas.repec.org/a/ibn/ijbmjn/v16y2023i10p1.html
   My bibliography  Save this article

Sustainable and Circular Business Model for Oil & Gas Offshore Platform Decommissioning

Author

Listed:
  • Vincenzo Basile
  • Roberto Vona

Abstract

In recent years, the problem of decommissioning and recycling offshore platforms has become an increasingly complex issue for environmental, socio-economic and safety reasons. The decommissioning or sustainable conversion of offshore platforms in the broader context of the circular economy will lead to the acquisition of new technologies and increasingly change values and behaviours towards sustainability in line with new business models. It will also be a complex process as it will require new skills, transformative technologies and the ability to engage all stakeholders. The objective of this study are the Multi-Use Platforms at Sea (MUPS), which represents an interesting solution for the creation of marine areas where different economic and recreational activities can be launched and developed according to the needs of environmental protection (e.g. renewable energies, shellfish farming, decarbonization plants, tourism and recreation).The main research question was the following- "What is the sustainable and circular business model in the literature that can be best used to support the transformation and/or decommissioning of oil platforms?" In addition, "How can the above business model be applied to the case of a platform considering social and environmental impacts?" In the first phase, the research activity focused on a thorough review of the literature on offshore platform decommissioning and sustainable and circular business models. This allowed us to access the Sustainable Circular Business Model Canvas (SCBMC), a conceptual tool that presents a holistic view of the different multi-purpose management options and their social and environmental impacts. This tool could help oil and gas operators (and related industries) address platform mining issues. The methodology adopted was a qualitative analysis. To test the SCBMC, an empirical study was conducted with semi-structured questionnaires given to several stakeholders (including experts, professionals and academics) in the international decommissioning industry. In addition, broader desk research on global offshore case studies was conducted using information sources and secondary sources. In future research, it may be useful to compare the SCBMC with the latest mainstream Circular Business Model (CBM) issues to better assess and quantify the environmental and social impacts of offshore platform decommissioning and to broaden the debate on this topic, considering economic indicators.

Suggested Citation

  • Vincenzo Basile & Roberto Vona, 2023. "Sustainable and Circular Business Model for Oil & Gas Offshore Platform Decommissioning," International Journal of Business and Management, Canadian Center of Science and Education, vol. 16(10), pages 1-1, February.
    • Handle: RePEc:ibn:ijbmjn:v:16:y:2023:i:10:p:1
    as

    Download full text from publisher

    File URL: https://ccsenet.org/journal/index.php/ijbm/article/download/0/0/45766/48685
    Download Restriction: no
    File URL: https://ccsenet.org/journal/index.php/ijbm/article/view/0/45766
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Minttu Laukkanen & Samuli Patala, 2014. "Analysing Barriers To Sustainable Business Model Innovations: Innovation Systems Approach," International Journal of Innovation Management (ijim), World Scientific Publishing Co. Pte. Ltd., vol. 18(06), pages 1-21.
    2. Osmundsen, Petter & Tveteras, Ragnar, 2003. "Decommissioning of petroleum installations--major policy issues," Energy Policy, Elsevier, vol. 31(15), pages 1579-1588, December.
    3. Parente, Virginia & Ferreira, Doneivan & Moutinho dos Santos, Edmilson & Luczynski, Estanislau, 2006. "Offshore decommissioning issues: Deductibility and transferability," Energy Policy, Elsevier, vol. 34(15), pages 1992-2001, October.
    4. Mateusz Lewandowski, 2016. "Designing the Business Models for Circular Economy—Towards the Conceptual Framework," Sustainability, MDPI, vol. 8(1), pages 1-28, January.
    5. Hamzah, B. A., 2003. "International rules on decommissioning of offshore installations: some observations," Marine Policy, Elsevier, vol. 27(4), pages 339-348, July.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Vincenzo Basile & Nunzia Capobianco & Roberto Vona, 2021. "The usefulness of sustainable business models: Analysis from oil and gas industry," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 28(6), pages 1801-1821, November.
    2. Mechthild Donner & Anne Verniquet & Jan Broeze & Katrin Kayser & Hugo de Vries, 2021. "Critical success and risk factors for circular business models valorising agricultural waste and by-products," Post-Print hal-03004851, HAL.
    3. Adkins, Roger & Paxson, Dean, 2019. "Rescaling-contraction with a lower cost technology when revenue declines," European Journal of Operational Research, Elsevier, vol. 277(2), pages 574-586.
    4. Abdo, Hafez & Mangena, Musa & Needham, Graham & Hunt, David, 2018. "Disclosure of provisions for decommissioning costs in annual reports of oil and gas companies: A content analysis and stakeholder views," Accounting forum, Elsevier, vol. 42(4), pages 341-358.
    5. Vincenzo Basile & Francesca Loia & Nunzia Capobianco & Roberto Vona, 2023. "An ecosystems perspective on the reconversion of offshore platforms: Towards a multi‐level governance," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(4), pages 1615-1631, July.
    6. Leporini, Mariella & Marchetti, Barbara & Corvaro, Francesco & Polonara, Fabio, 2019. "Reconversion of offshore oil and gas platforms into renewable energy sites production: Assessment of different scenarios," Renewable Energy, Elsevier, vol. 135(C), pages 1121-1132.
    7. Noor Amila Wan Abdullah Zawawi & Kamaluddeen Usman Danyaro & M. S. Liew & Lim Eu Shawn, 2023. "Environmental Sustainability and Efficiency of Offshore Platform Decommissioning: A Review," Sustainability, MDPI, vol. 15(17), pages 1-18, August.
    8. Pina Puntillo, 2023. "Circular economy business models: Towards achieving sustainable development goals in the waste management sector—Empirical evidence and theoretical implications," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(2), pages 941-954, March.
    9. Aleksey I. Shinkevich & Alsu R. Akhmetshina & Ruslan R. Khalilov, 2022. "Development of a Methodology for Forecasting the Sustainable Development of Industry in Russia Based on the Tools of Factor and Discriminant Analysis," Mathematics, MDPI, vol. 10(6), pages 1-16, March.
    10. Jacopo Zotti & Andrea Bigano, 2019. "Write circular economy, read economy’s circularity. How to avoid going in circles," Economia Politica: Journal of Analytical and Institutional Economics, Springer;Fondazione Edison, vol. 36(2), pages 629-652, July.
    11. Wiebke Reim & David Sjödin & Vinit Parida, 2021. "Circular business model implementation: A capability development case study from the manufacturing industry," Business Strategy and the Environment, Wiley Blackwell, vol. 30(6), pages 2745-2757, September.
    12. Julian Lauten-Weiss & Stephan Ramesohl, 2021. "The Circular Business Framework for Building, Developing and Steering Businesses in the Circular Economy," Sustainability, MDPI, vol. 13(2), pages 1-14, January.
    13. Maurizio Massaro & Francesca Dal Mas & Charbel Jose Chiappetta Jabbour & Carlo Bagnoli, 2020. "Crypto‐economy and new sustainable business models: Reflections and projections using a case study analysis," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 27(5), pages 2150-2160, September.
    14. Claudia Aparecida De Mattos & Thiago Lourenço Meira De Albuquerque, 2018. "Enabling Factors and Strategies for the Transition Toward a Circular Economy (CE)," Sustainability, MDPI, vol. 10(12), pages 1-18, December.
    15. María E. Aguilar-Fernández & José Ramon Otegi-Olaso, 2018. "Firm Size and the Business Model for Sustainable Innovation," Sustainability, MDPI, vol. 10(12), pages 1-27, December.
    16. Maria Rosa De Giacomo & Raimund Bleischwitz, 2020. "Business models for environmental sustainability: Contemporary shortcomings and some perspectives," Business Strategy and the Environment, Wiley Blackwell, vol. 29(8), pages 3352-3369, December.
    17. Rachel Greer & Timo Wirth & Derk Loorbach, 2023. "The Circular Decision-Making Tree: an Operational Framework," Circular Economy and Sustainability, Springer, vol. 3(2), pages 693-718, June.
    18. Nadia Preghenella & Cinzia Battistella, 2021. "Exploring business models for sustainability: A bibliographic investigation of the literature and future research directions," Business Strategy and the Environment, Wiley Blackwell, vol. 30(5), pages 2505-2522, July.
    19. Olga Rataj & Serdar Türkeli, 2024. "Success Factors for Scaling Up and Raising Investment by Circular Entrepreneurs in Emerging Markets and Developing Economies," Circular Economy and Sustainability, Springer, vol. 4(2), pages 1021-1046, June.
    20. Antonella Zucchella & Pietro Previtali & Roger Strange, 2022. "Proactive and reactive views in the transition towards circular business models. A grounded study in the plastic packaging industry," International Entrepreneurship and Management Journal, Springer, vol. 18(3), pages 1073-1102, September.

    More about this item

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ibn:ijbmjn:v:16:y:2023:i:10:p:1. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Canadian Center of Science and Education (email available below). General contact details of provider: https://edirc.repec.org/data/cepflch.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.