| dc.description.abstract | The Norwegian offshore service vessel (OSV) sector is playing a major role in the oil and gas industry. But the climate changes and the consequences is demanding for more sustainable energy sources the world can rely on. This has in recent years, led to growing awareness of the need for sustainable business practices, and offshore wind industry have emerged an alternative sustainable energy source. An industry that present new opportunities for the Norwegian offshore service vessel firms in order to transit from carbon intensive oil and gas industry to a low emission and sustainable offshore wind industry.
Some of the Norwegian OSV firms have already started their transition into the new industry while the majority is still lacking behind. Therefore this study aim to explore and identify the factors that affect the transition of Norwegian OSV firms from Oil and gas industry to Offshore wind industry. In particular, the transition drivers, barrier and success factors was explored by interviewing 6 industry experts.
The findings resulted in identifying four drivers, seven barriers, and eight success factors that need to be considered for a successful transition. The study reveals that the foremost drivers for transitioning Norwegian OSV firms to the offshore wind industry are economical, while the primary barriers are fiduciary duty, low time charter rates and margins, high investment costs, high credit barriers, O&G barriers, technical barriers, lack of political support, and project scale. The success factors for OSV firms in this transition are having a clear and narrative vision, strong firm capabilities, collaboration, innovation, sustainable business models, communication, political support, project scale.
The study contributes to the existing body of knowledge in the field of transition management and sustainability in the Norwegian OSV segment, and it provides valuable insights for OSV firms navigating the transition to the offshore wind industry. Future studies may explore the interconnections and the impact of these factors on the transition of Norwegian OSV firms. | |
