NAVIGATING UPSTREAM INDONESIAâS OIL AND GAS SERVICES INDUSTRY AMIDST THE CLEANER ENERGY TRANSITION ERA WITH SCENARIO PLANNING APPROACH
The Oil and Gas services industry has been significantly affected by increasing awareness to tackle the climate crisis issue. Its major clients, the Oil and Gas operators, have committed to increasing efforts to decarbonize and perform a transition to a cleaner energy era. The Oil and Gas services,...
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| Format: | Theses |
| Language: | Indonesia |
| Online Access: | https://digilib.itb.ac.id/gdl/view/75936 |
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| Institution: | Institut Teknologi Bandung |
| Language: | Indonesia |
| Summary: | The Oil and Gas services industry has been significantly affected by increasing awareness to tackle the climate crisis issue. Its major clients, the Oil and Gas operators, have committed to increasing efforts to decarbonize and perform a transition to a cleaner energy era. The Oil and Gas services, therefore, shall also reassess their current business strategy. However, to choose the right business strategy, the industry needs to have a forward-looking scenario on how the industry will evolve in the middle of the cleaner energy transition era. Only by doing so can they understand the forward-looking business situations, which allows them to assess the current strategy and be resilient and relevant in each possible future situation.
In this situation, scenario planning becomes important, as it provides a valuable tool to analyse potential future dynamics regarding the dynamics of Oil and Gas operations, as well as what drives them, and the impacts that they may have. Scenario planning in this research was mainly developed based on the interview involving the Oil and Gas stakeholders, such as the representative of Oil and Gas services companies, operators, Indonesia’s regulators (MEMR and SKK Migas), and energy analyst.
The result of scenario planning indicates four possible scenarios for Indonesia’s O&G industry in the future, resulting from the interplay between Indonesia’s Government Regulation, Incentive / Tax Regimes with Technological Advancement. These scenarios are Laggard in Cleaner Energy Transition, Vanguard in Cleaner Energy Transition, Stagnation in Cleaner Energy Transition, and Revolution in Cleaner Energy Transition. In the end, the author proposed a business strategy that is fit for each scenario. The proposed strategy focuses on the re-assessment of the investment scheme, core competencies, strategic partnership, business model, and organization cultures and identity. Thus, by implementing this strategy, the O&G Services industry is expected to thrive, regardless of whichever scenario may be realized
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