Background: The aim of this research is to analyze the transformation of workers perceptions of the safety climate in an oil and gas company in Indonesia when they experience a change in ownership from a multinational to a national company. Methods: This cross-sectional study used questionnaires distributed offline and online in three periods of ownership of Company X. Data analysis was carried out descriptively by comparing workers perception scores regarding the safety climate at Company X when managed by the multinational holder, transition period, and national holder. Results: Workers perceptions of the safety climate in Company X when it experienced a change in ownership from a multinational company to a national company has a trend of decreasing scores (from 8.07 to 7.48). Overall, a decreasing trend in scores occurred in several sub-variables of safety climate, namely management commitment (8.33 to 7.56), communication (8.10 to 7.64), safety priority (8.55 to 7.68), personal appreciation of risk (8.25 to 5.48), involvement (7.50 to 7.36), and personal priority and need for safety (8.25 to 5.48). Conclusions Ownership changes cause a trend of decrease in employee perceptions of the safety climate at Company X. Company's priority on safety related to production target factors is decreasing due to the change of ownership. On the other hand, the national period had a higher score in supportive environments and work environments, compared to the multinational period.