To Identify Sustainability Indicators for Thailand’s Upstream Oil and Gas Sector: A Combination of Expert Interviews and a Literature Review

Abstract

This study proposes the literature review and method to identify sustainability indicators for upstream oil and gas sector in Thailand based on a review of relevant literature and a survey of academicians and industry experts. The oil and gas sector is one of the most significant economic drivers. However, the business is  high risk, such as the uncertainty of unproven geological reserves, the high cost of production, intervention ,maintenance, the cost of waste treatment and spill. Therefore, the industry strives to be more sustainable by causing less harm to the environment and community while still generating profits, establishing a good relationship with partners and investors, and enhancing its competitive advantage for long-term financial gains. In upstream oil and gas industry, momentum and intensity to measure sustainability are maintained even during periods of low energy demand. As we move toward a more sustainable future, the oil and gas sector should be a sustainable indicator to verify overall performance and measurable.