APPEA industry strategy

Platform for Prosperity is Australia’s Upstream Oil and Gas Industry Strategy.

This strategy was developed to:

• Maximise the value of Australia’s oil and gas resources to the Australian people
• Deliver petroleum energy security
• Assure the long-term sustainability of Australia’s oil and gas industry.

Released in April 2007, Platform for Prosperity proposes a vision and targets for the industry over the next decade. It also identifies numerous actions that the industry or governments can take to help achieve those targets.

The strategy identifies seven priorities for urgent attention:

1. An improved fiscal framework for gas projects
2. An improved framework for exploration
3. More consistent and more efficient national petroleum regulation
4. Harnessing the greenhouse benefits of gas by establishing a level playing field for fuel-on-fuel competition
5. Continuously improving environmental and safety performance and increasing community awareness of the industry’s performance and values
6. Improving and better coordinating research and development
7. Developing a national petroleum skills and vocational training plan.

Progress towards these objectives is overseen by a joint industry and government implementation group. Each year this group reviews the progress made on the key actions outlined in Platform for Prosperity.

In October 2010, the third implementation report, State of the industry 2010 was released. This provides an updated advocacy blueprint for the oil and gas industry.

This report reviewed the 65 options for industry reform proposed in Platform for Prosperity and reduced these to 22 options. Those that have been implemented or require no further action have been deleted; some duplication of actions has been removed; and some options have now been grouped together under a common strategic theme.

State of the industry 2010 notes that following several policy reviews at state and federal levels: “Governments in consultation with industry have the opportunity to put in place a policy framework that will trigger the step-change increase in oil and gas exploration and development activity in Australia, delivering substantial economic and environmental benefits.”

State of the Industry 2010

Upstream Oil and Gas Industry Strategy - Platform for Prosperity.pdf