Value Co-Creation Practices in the Decommissioning of Offshore Platforms: A Case Study Approach

Abstract

Over the years, value co-creation practices have become increasingly more important by supporting collaborative interactions and the achievement of sustainable and mutual competitive advantage between the ecosystem’ actors. In this direction, the oil and gas industry is proposing a sustainable re-use of offshore platforms based on value co-creation and resources exchange between the actors involved. According to this consideration, this work aims at re-reading the decommissioning of offshore platforms in the light of value co-creation practices, trying to capture the factors that governments and companies can leverage to pursue a sustainable development of local communities. To reach this goal, this work follows an exploratory approach by using, in particular, the case study. Specifically, one of the most notably projects in the Italian context have been chosen, the Paguro platform, in order to provide empirical insights into the nature of these value co-creation processes. Five value co-creation practices have been identified which highlight the importance of synergistic efforts of institutions, companies and technology-based platforms for improving the ability to co-create and capture value in the process of decommissioning. This exploratory work establishes a foundation for future research, and offers theoretical and managerial guidance in this increasingly important area.

An ecosystems perspective on the reconversion of offshore platforms: Towards a multi‐level governance

“…Organizations pertaining to different fields can benefit from value co‐creation practices by creating collaborative interactions with several actors, establishing long‐term engagements, and contributing to sustainable and mutual competitive advantage. Specifically, co‐creation practices highlight the importance of synergistic efforts of institutions, companies, and technology‐based platforms for improving the ability to cocreate and capture value in processes characterized by high levels of complexity (Frow et al, 2016; Loia et al, 2021; Pellicano et al, 2018). In this sense, multistakeholder engagement and participatory processes are fundamental concepts for co‐creation and resource integration by contributing to the creation of an effective relational context and by engaging many stakeholders who contribute different resources (Vargo & Lusch, 2006).…”

“…The project brings together several local institutions as well as local entrepreneurs and promotes the development of new entrepreneurship activities and new businesses in the valorization of the wreck. In this way, offshore platform reconversion can become a key driver for the codevelopment of innovative business solutions that enhance economic and social development(Loia et al, 2021). Additionally, the Italian project Insure aims to carry out several education initiatives related to the fields of meteorology, wave dynamics, and environmental and biological studies(Bocconi, 2021).Users are engaged in the following: (i) practical activities (environment); (ii) direct learning experiences through meetings on the platform; and (iii) recreational events and trips to explore the natural heritage.…”