scholarly journals The Future of Energy and the Case of the Arctic Offshore: The Role of Strategic Management

2021 ◽  
Vol 9 (2) ◽  
pp. 134
Author(s):  
Elias G. Carayannis ◽  
Alina Ilinova ◽  
Alexey Cherepovitsyn
Keyword(s):  
Strategic Management ◽  
Oil And Gas ◽  
The Arctic ◽  
Successful Implementation ◽  
Event Analysis ◽  
Complex Projects ◽  
Offshore Oil And Gas ◽  
Price Instability ◽  
Offshore Oil ◽  
Oil And Gas Companies

As risk and uncertainty factors have become more prominent in the already volatile energy market because of the COVID-19 pandemic, the development of Arctic hydrocarbon resources has become a debatable issue. At any rate, oil and gas companies need to improve their strategic management systems (along with the development of technologies) for the successful implementation of such complex projects. The purpose of this study was to propose the conceptual basis for transforming strategic management and planning systems of oil and gas companies so that they can successfully face global challenges when implementing offshore oil and gas projects in the Arctic as well as provide more sustainable energy sources. The article discusses the current situation with Arctic initiatives and the results of an analysis of price instability in the energy sector, along with an analysis of several megatrends affecting oil and gas companies. All this allows for presenting a conceptual vision of how a strategic management system should be transformed in order to become able to meet the requirements for implementing Arctic projects, with the emphasis being placed on sustainability, management requirements, and the key principles. The research is based on the fundamentals of strategic management and strategic planning and relies on methods such as desk study, content analysis, event analysis, comparative analysis, and factor analysis.

scholarly journals The Future of Russian Arctic Oil and Gas Projects: Problems of Assessing the Prospects

2021 ◽  
Vol 9 (5) ◽  
pp. 528
Author(s):  
Amina Chanysheva ◽  
Alina Ilinova
Keyword(s):  
Decision Making ◽  
Oil And Gas ◽  
The Arctic ◽  
Russian Arctic ◽  
Scientific Methods ◽  
General Scientific ◽  
Step Algorithm ◽  
Offshore Oil And Gas ◽  
Offshore Oil ◽  
Oil And Gas Companies

The development of Arctic marine resources is currently the focus of the world’s largest oil and gas companies, which is due to the presence of significant hydrocarbon reserves. However, the decision-making process for implementing offshore oil and gas projects in the Arctic is highly uncertain and requires consideration of many factors. This study presents a comprehensive approach to evaluating the prospects of oil production on the Russian Arctic shelf. It is based on a specific methodology which involves expert forecasting methods. We analyze the current conditions and key factors and indicators, focusing on oil prices and quality of technologies that could influence the decision-making in the oil and gas company concerning Arctic offshore fields’ development. We use general scientific methods—analysis, synthesis, classification and systematization—and propose a method for assessing the prospects of Arctic projects which is based on a three-step algorithm. Together with practical tools presented in the article, it will support decision-making on the project initiation and the development of a particular field.

Arctic Europe Between National Interests and Arctic Governance

2019 ◽  
pp. 117-131
Author(s):  
Igor Kochev ◽  
Wim Heijman
Keyword(s):  
Marine Mammals ◽  
Oil And Gas ◽  
Point Of View ◽  
The Arctic ◽  
National Interests ◽  
Economic Point ◽  
Oil And Gas Operations ◽  
Offshore Oil And Gas ◽  
Offshore Oil ◽  
The Eu

From an economic point of view, melting ice is making the Arctic ocean increasingly important for a number of countries – Arctic states as well as non-Arctic states. Also, the EU has clear interests in the area. This chapter provides a brief description of those interests and its implications on the EU's relationship with the Arctic partners. This note takes seven aspects of the EU-relations with the Arctic states into consideration (i.e., the institutional framework, the EU Arctic interests and policies, shipping, fishing, marine mammals, offshore oil and gas operations, and the EU's Arctic partners).

scholarly journals Approaches to Assessing the Strategic Sustainability of High-Risk Offshore Oil and Gas Projects

2020 ◽  
Vol 8 (12) ◽  
pp. 995
Author(s):  
Alexey Cherepovitsyn ◽  
Anna Tsvetkova ◽  
Nadejda Komendantova
Keyword(s):  
Oil And Gas ◽  
Sustainability Assessment ◽  
Methodological Approach ◽  
The Arctic ◽  
Project Management System ◽  
The Face ◽  
Hierarchy Analysis ◽  
Offshore Oil And Gas ◽  
Offshore Oil

In the face of today’s global challenges, oil and gas companies must define long-term priorities and opportunities in implementing complex Arctic offshore projects, taking into account environmental, economic, technological and social aspects. In this regard, ensuring strategic sustainability is the basis for long-term development. The aim of the study is to analyze existing approaches to the concept of “strategic sustainability” of an offshore Arctic oil and gas project and to develop a methodological approach to assessing the strategic sustainability of offshore oil and gas projects. In the theoretical part of the study, the approaches to defining strategic sustainability were reviewed, and their classification was completed, and the most appropriate definition of strategic sustainability for an offshore oil and gas project was chosen. The method of hierarchy analysis was used for strategic sustainability assessment. Specific criteria have been proposed to reflect the technical, geological, investment, social and environmental characteristics important to the offshore oil and gas project. The strategic sustainability of 5 offshore oil and gas projects was analyzed using an expert survey as part of the hierarchy analysis method. Recommendations were made on the development of an offshore project management system to facilitate the emergence of new criteria and improve the quality of the strategic sustainability assessment of offshore projects in the Arctic.

Optimization of OSV Fleet for an Offshore Oil and Gas Field in the Russian Arctic

2015 ◽  
Author(s):  
Aleksandar-Saša Milaković ◽  
Mads Ulstein ◽  
Alexei Bambulyak ◽  
Sören Ehlers
Keyword(s):  
Supply Chain ◽  
Environmental Conditions ◽  
Oil And Gas ◽  
The Arctic ◽  
Russian Arctic ◽  
Gas Field ◽  
Arctic Conditions ◽  
Oil And Gas Field ◽  
Offshore Oil And Gas ◽  
Offshore Oil

Due to a constantly increasing global energy demand on one side, and depletion of available hydrocarbon resources on another, a continuous search for new reserves of hydrocarbons is required (BP Energy Outlook 2035 [1]). Having in mind that estimated 22% of the world’s undiscovered petroleum is located in the Arctic, 84% of which is projected to be offshore (US Geology Survey [2]), the Arctic becomes a logical region of activities expansion for the oil and gas industry. Opposing large expected quantities of hydrocarbons that are to be found in the Arctic, there are also numerous challenges that need to be overcome in order to make production economically feasible. One of the segments of offshore production process that is expected to be influenced by Arctic conditions is upstream supply chain, or chain of delivery of products and services that are necessary for unhindered operation of an offshore field. Within upstream supply chain, it is expected that the configuration of Offshore Supply Vessel (OSV) fleet will be significantly affected by specific Arctic conditions, mainly by large distances to supply base as well as by environmental conditions. Therefore, this paper seeks to identify an optimal composition of OSV fleet taking into consideration specific Arctic conditions. A simulation model describes an upstream supply chain taking into consideration stochastic nature of environmental conditions in the Arctic. An optimization model is built on top of the simulation model in order to assess optimal configuration of the fleet with respect to operational costs. Simulation and optimization are run for a case of an offshore oil and gas field development in the Russian Arctic.

scholarly journals Rachael Lorna Johnstone, Offshore Oil and Gas Development in the Arctic under International Law: Risk and Responsibility (Leiden: Brill, 2015)

2016 ◽  
Vol 11 (1) ◽  
Author(s):  
Bjarni Már Magnússon
Keyword(s):  
International Law ◽  
Oil And Gas ◽  
The Arctic ◽  
Oil And Gas Development ◽  
Offshore Oil And Gas ◽  
Offshore Oil

Book review of: Rachael Lorna Johnstone, Offshore Oil and Gas Development in the Arctic under International Law: Risk and Responsibility (Leiden, Brill), 2015, ISBN 978-90-042693-30, hardbound.

International Regulatory Challenges of New Developments in Offshore Nuclear Energy Technologies

2018 ◽  
Author(s):  
Catherine Redgwell ◽  
Efthymios Papastavridis
Keyword(s):  
Oil And Gas ◽  
Technological Development ◽  
Legal Regulation ◽  
The Arctic ◽  
Legal Rules ◽  
Energy Technologies ◽  
Fit For Purpose ◽  
Offshore Oil And Gas ◽  
Lock In ◽  
Offshore Oil

This chapter explains the technological development of TNPPs and considers the imminence of construction and deployment offshore. We demonstrate that while there are legal rules of potential application to TNPPs, these do not constitute a comprehensive legal regulation framework. Are existing rules fit for purpose? For example, the IMO has adapted existing regulations to address offshore oil and gas activities in the Arctic (and Antarctic) in its ‘Polar Code’. . However, adapting existing legal rules may manifest pathway dependence mirroring the potential ‘technological lock-in’ of SMRs based on proven technology. The authors further observe that, just as climate change is characterized by polycentric governance, so too will questions of TNPP regulation cut across different fields of international law and different institutions—not just the IMO and IAEA.

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