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

Abstract

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.

Energy Resources Exploitation in the Russian Arctic: Challenges and Prospects for the Sustainable Development of the Ecosystem

“…Register of processes accompanying the implementation of oil and gas projects in the Arctic (created by the authors, based on [11,12,18,25,27,35,[38][39][40][41][42][43][44][45][46][47][48][49][50][51][52][53][54][55][74][75][76][77][78]).…”

“…Many scientists consider the impact on the Arctic from the point of view of a risk approach: they study the sustainability of risky oil and gas projects [47]; they carry out dynamic modeling of environmental risks [48]; they perform environmental, technical, and economic analyses [49]; they provide a detailed analysis of specific environmental risks and risks from various types of oil and gas activities [50][51][52]; they assess environmental risks [53][54][55]. However, experts understand the concept of "risk" in different ways, and many of them associate it with the processes that constantly accompany the stages of oil and gas production.…”

“…Environmental risks register (created by authors, based on[11,12,18,25,27,35,[38][39][40][41][42][43][44][45][46][47][48][49][50][51][52][53][54][55][74][75][76][77][78]). …”

Basic Principles (Indicators) for Assessing the Technical and Economic Potential of Developing Arctic Offshore Oil and Gas Fields

“…The scientific problem is the lack of a comprehensive methodological approach to the study of the sustainable functioning of industrial systems in the Arctic [18]. A number of authors point out that the assessment of the aggregate technical and economic potential of a field is a key condition for effective strategic management of the oil and gas complex when developing both onshore and offshore hydrocarbon fields in the Arctic [19][20][21]. A certain number of works by Russian scientists are devoted to the issues surrounding the strategic management of mineral extraction processes in the Arctic [22][23][24][25].…”

Correlation of branches of law in environmental and legal support of the development of the Arctic region

“…The development of the Arctic region as a strategic base providing the states with mineral and biological resources is currently acquiring special importance [1]. In the context of this work, the point at issue are the Arctic states, represented by the countries whose territories adjoin the territories of the northern Arctic, i.e.…”