The growing complexity of environmental challenges has progressively led to the emergence of Sustainable Business Models (SBMs) able to embed economic, environmental, and social flows in a unified value network. All sectors are demanding innovative and sustainable solutions, including the oil and gas industry, which aims to address the issues about the decommissioning of offshore platforms. However, although the relevant literature highlighted the potentialities related to a multi-reuse of these structures, the effect of Sustainable Decommissioning (SD) on macro-environmental factors is still an open question. Based on these considerations, this study follows a Political, Economic, Social, Technological, Legal, and Environmental (PESTLE) analysis according to semi-structured interviews conducted with oil and gas key informants and stakeholders in the Italian context. The results of the analysis can provide a novel thinking for addressing the challenges related to a sustainable decommissioning of offshore platforms and shed light on the importance of synergistic efforts by local entrepreneurship and institutional arrangements to combine economic and environmental sustainability with social needs. This paper can contribute to the emerging field of sustainable business models related to the decommissioning of offshore platforms and suggests avenues for future research.