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Assessing drivers of export orientation in the subsea oil and gas industry

The purpose of this short study was to identify the drivers of export orientation of firms in the subsea oil and gas industry in Western Norway. As the oil fields in the North Sea are approaching a stage of maturity, gaining knowledge of these drivers is crucial. An online survey was conducted of fi...

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Detalles Bibliográficos
Autores principales: Aarstad, Jarle, Pettersen, Inger Beate, Jakobsen, Stig-Erik
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Springer International Publishing 2015
Materias:
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4529432/
https://www.ncbi.nlm.nih.gov/pubmed/26261761
http://dx.doi.org/10.1186/s40064-015-1203-4
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author Aarstad, Jarle
Pettersen, Inger Beate
Jakobsen, Stig-Erik
author_facet Aarstad, Jarle
Pettersen, Inger Beate
Jakobsen, Stig-Erik
author_sort Aarstad, Jarle
collection PubMed
description The purpose of this short study was to identify the drivers of export orientation of firms in the subsea oil and gas industry in Western Norway. As the oil fields in the North Sea are approaching a stage of maturity, gaining knowledge of these drivers is crucial. An online survey was conducted of firms operating in the subsea oil and gas industry in the region. Consistent with previous research, the data reveal that product innovation and a majority share of international ownership increase firms’ export rates. The use of instrumental variables indicates that both product innovation and international ownership are causes of subsea petroleum exports. The study moreover finds that subcontractors have a lower rate of direct exports than system providers, but international ownership in particular boosts subcontractors’ export rates, probably by decreasing their market dependency on regional system providers. A clear recommendation for managers and stakeholders is that they should encourage foreign investments throughout the value chain. The results of such a strategy appear to be especially positive for subcontractors.
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spelling pubmed-45294322015-08-10 Assessing drivers of export orientation in the subsea oil and gas industry Aarstad, Jarle Pettersen, Inger Beate Jakobsen, Stig-Erik Springerplus Research The purpose of this short study was to identify the drivers of export orientation of firms in the subsea oil and gas industry in Western Norway. As the oil fields in the North Sea are approaching a stage of maturity, gaining knowledge of these drivers is crucial. An online survey was conducted of firms operating in the subsea oil and gas industry in the region. Consistent with previous research, the data reveal that product innovation and a majority share of international ownership increase firms’ export rates. The use of instrumental variables indicates that both product innovation and international ownership are causes of subsea petroleum exports. The study moreover finds that subcontractors have a lower rate of direct exports than system providers, but international ownership in particular boosts subcontractors’ export rates, probably by decreasing their market dependency on regional system providers. A clear recommendation for managers and stakeholders is that they should encourage foreign investments throughout the value chain. The results of such a strategy appear to be especially positive for subcontractors. Springer International Publishing 2015-08-08 /pmc/articles/PMC4529432/ /pubmed/26261761 http://dx.doi.org/10.1186/s40064-015-1203-4 Text en © Aarstad et al. 2015 Open AccessThis article is distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution, and reproduction in any medium, provided you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license, and indicate if changes were made.
spellingShingle Research
Aarstad, Jarle
Pettersen, Inger Beate
Jakobsen, Stig-Erik
Assessing drivers of export orientation in the subsea oil and gas industry
title Assessing drivers of export orientation in the subsea oil and gas industry
title_full Assessing drivers of export orientation in the subsea oil and gas industry
title_fullStr Assessing drivers of export orientation in the subsea oil and gas industry
title_full_unstemmed Assessing drivers of export orientation in the subsea oil and gas industry
title_short Assessing drivers of export orientation in the subsea oil and gas industry
title_sort assessing drivers of export orientation in the subsea oil and gas industry
topic Research
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4529432/
https://www.ncbi.nlm.nih.gov/pubmed/26261761
http://dx.doi.org/10.1186/s40064-015-1203-4
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