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Knowledge Based Oil and Gas Industry

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Knowledge Based Oil and Gas Industry Knowledge Based Oil and Gas Industry by Amir Sasson and Atle Blomgren Research Report 3/2011 BI Norwegian Business School Department of Strategy and Logistics Amir Sasson and Atle Blomgren: Knowledge Based Oil and Gas Industry © Amir Sasson and Atle Blomgren 2011 Forskningsrapport 03/2011 ISSN: 0803‐2610 BI Norwegian Business School N‐0442 Oslo Phone: 4641 0000 www.bi.no Print: Nordberg BI’s Research Reports may be ordered from our website www.bi.no/en/research‐publications. Executive Summary This study presents the Norwegian upstream oil and gas industry (defined as all oil and gas- related firms located in Norway, regardless of ownership) and evaluates the industry according to the underlying dimensions of a global knowledge hub - cluster attractiveness, education attractiveness, talent attractiveness, R&D and innovation attractiveness, ownership attractiveness, environmental attractiveness and cluster dynamics. The Norwegian oil and gas industry was built upon established Norwegian competences in mining (geophysics), maritime operations and maritime construction (yards), with invaluable inputs from foreign operators and suppliers. At present, the industry is a complete cluster of 136,000 employees divided into several sectors: Operators (22,000), Geo & Seismics (4,000), Drill & Well (20,000), Topside (43,000), Subsea (13,000) and Operations Support (34,000). The value creation from operators and suppliers combined represents one-third of total Norwegian GDP (2008). The Norwegian oil and gas industry has for many years been a highly attractive cluster in terms of technical competence. The last ten years have also seen improvements in terms of access to capital and quality of financial services provided. Value creation per employee ranges from NOK 1.2 million for suppliers to NOK 6.5 million for operators1. In comparison, value creation per employee in the Tourism industry is NOK 0.4 million. The supplier industry has successfully managed to internationalize, with exports from oil and gas suppliers representing approximately 15 percent of total Norwegian exports excluding direct sales of oil and gas. In addition to the export value, there is also capital income from repatriated profits from foreign subsidiaries. Just below 50% of total mainland oil and gas employment is located in Rogaland and Hordaland, followed by Oslo/Akershus, Møre og Romsdal, the Agder counties, Sør- Trøndelag, and Buskerud. The subclusters in Oslo/Akershus (all sectors excluding Drill & Well) and in Buskerud (Subsea) have significantly higher shares of engineers/economists than other regional clusters. However, the absolute numbers of engineers/economists in the Drill & Well cluster in Rogaland and in the Topside cluster in Rogaland/Hordaland are significant. The attractiveness of educational programs related to the oil and gas industry have been growing in popularity in absolute and relative terms on both the Bachelor and Master levels. However, programs dedicated to the petroleum industry have been losing students in recent years. This situation reflects the continuing interest in engineering and related topics with an increasing focus on renewable energy and other technologies that are perceived to be more environmentally friendly. For doctoral studies, both the absolute number of students and the relative proportion of students are declining. As doctoral studies have the longest time horizon, investment in such studies indicates that there are opportunities for either advanced employment or future academic life within this specific area. Taking this into consideration, the declining attractiveness of doctoral programs in the relevant areas might constitute an early signal that the opportunities for advanced R&D-based value addition in the oil and gas industry are declining. The oil and gas industry used to have a relatively low proportion of higher educated personnel, but this gap has now been closed and the industry is just as attractive for talent as other Norwegian industries. Many engineers work in the oil and gas industry, although their 1 An estimate of the petroleum rent has been deducted. 2 share is declining, while there is growth among workers with business, economics and other social science backgrounds. If this trend continues, parts of the cluster may move from exploration and the creation of new, engineering-based products/solutions towards the exploitation of already developed products/solutions or more labor-intensive work, such as maintenance and modification offshore (MMO). The industry has attracted many foreign workers in recent years. However, most were hired on the basis of the cost advantages associated with these workers rather than their specialized knowledge. Practical challenges encountered in the oil and gas activity on the Norwegian continental shelf have given birth to a number of important innovations through a close cooperation between operators and suppliers. This has made Norway into an attractive location for oil and gas R&D with many international oil and gas companies, e.g., Schlumberger, locating their R&D to Norway. 31 percent of all Norwegian-based oil and gas companies use 4 percent or more of sales on R&D, and innovate more than the other Norwegian industries in terms of products, services and organizational practices. Even though these figures are based on a wider definition of the supplier industry, they indicate serious flaws in the OECD’s measurement of R&D and innovation in the Norwegian oil and gas industry, and, consequently, that Norway’s persistently high level of productivity and per capita income is not really ‘puzzling’. However, if the future holds less activity on the NCS and fewer large field developments, the NCS might become a technological backwater. This may force the supplier industry to look to foreign oil and gas hubs for knowledge and learning. When oil and gas activities began in Norway, the country already possessed an international maritime industry, and industrial actors within the fields of fabrication and construction. However, Norway lacked oil and gas-specific competencies. The Norwegian government therefore introduced policies to attract global competence/ownership. Due to the presence of the large partially state-owned operator Statoil, the share of foreign ownership in the total Norwegian oil and gas industry (37%) is much lower than the share of foreign ownership among suppliers (just above 50%). The reliance on foreign-owned companies distinguishes the elements of ‘infant industry protection’ in the build-up of the Norwegian oil and gas industry from other countries’ experiences. Another factor working towards a high share of foreign ownership, especially in the suppler industry, seems to be that Norwegian-owned start-ups ready to introduce a product to a larger market tend to look for global industrial partners with financial strength. However, foreign takeovers of Norwegian-owned companies do not harm the development of the national cluster if, like in the case of subsea technology, the R&D is grounded in Norway so that most R&D and headquarter functions remain in Norway. The oil and gas industry is currently perceived as not very environmentally attractive even though it employs a number of environmentally friendly technologies. There are also ongoing initiatives, such as the utilization of microorganisms, to produce win-win solutions. Furthermore, the Norwegian oil and gas industry’s environmental standards make it an attractive oil and gas hub in which to do business. This aspect needs to be emphasized further. However, the development of higher environmental standards is called for, particularly given the plans to extract oil and gas in the northern areas. Norway must be at the forefront of the global industry in terms of developing environmentally friendly solutions. The cluster dynamics, or the innovation system, in the Norwegian oil industry is based on a high degree of collaboration between suppliers of technology solutions and their customers, the operators. Intra-industry labor mobility is operator-centric as operators are the preferred 3 employment destination and technology-heavy-cohesive grouping as there are disproportionately large and reciprocal labor movements, especially among Geo & Seismics, Drill & Well and Subsea. Clusters thrive in the presence of related clusters, and the oil industry has woven a tight network of relations, supported by the transfer of labor to and from the maritime industry, the metal processing industry and advanced knowledge mediators. Firms in the oil industry invest in competence development as much as firms in the health industry, although the latter is considered to be a much more knowledge-intensive industry. If we combine the intra-industry labor mobility findings with the fact that the main focus of recruitment is on people with industry experience, a reduction in the activity level of the supply industry will also affect operators, as competent labor gains its experience in the supply industry before moving to operators. Business strategy implications: Recommendations • Prepare for decades of maintenance, modification and decommissioning, and of ‘difficult’ oil and gas production in an increasingly cost-sensitive environment. • Prepare for increasing low-cost foreign competition, which will initially be evident in the labor-intensive sectors of construction and manufacturing. • Internationalize through the establishment of foreign subsidiaries by Norwegian headquarters. • Contribute to promotion of the industry
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