Paper Title
STRATEGIC ENTREPRENEURSHIP IN OIL AND GAS INDUSTRY IN INDONESIA – THE FRAMEWORK

Abstract
The oil and gas industry is one of the oldest and most established industries on earth. With a management system that has evolved over time until now, the industry is reaching a point where not much has changed in the management process of oil and gas companies other than corporate actions in conducting mergers and acquisitions. However, in recent years, in order to protect the environment and in an effort to achieve zero emissions by 2050 as stated in the Paris Climate Agreement, the global energy landscape has changed. These changes include a gradual reduction in the use of traditional energy and a shift towards renewable energy. In this context, oil and gas companies themselves are in the early stages of a low-carbon energy transition, although this concept is relatively new to many oil and gas companies (Lu, Guo, Zhang 2019). In this transition process, upstream oil companies in Indonesia are still struggling with the problem of managing and increasing production of mature fields. Based on this context, researchers see the need for strategic entrepreneurship studies to improve the ability to find/discover or create new business opportunities and innovations as well as the ability to find/develop or create advantages to encourage innovation and achieve competitive advantage and collaborative power in the context of welfare (wealth creation). This approach emphasizes the need for companies to balance entrepreneurial efforts in exploring new opportunities by carrying out strategic actions to exploit opportunities into renewable solutions that are competitive and highly collaborative. This study aims to describe the strategic entrepreneurship process using the reference model "Strategic Entrepreneurship" (Ireland, Sirmon, Hitt 2003) which is applied according to the business processes in oil and gas companies in Indonesia. Keywords - Strategic Entrepreneurship, Entrepreneurial Culture, Entrepreneurial Leadership, Innovation, Innovation Performance, Oil and Gas, Mature Field, Energy Transition, Zero Emission, Low-Carbon Energy.