All directors and employees are expected to act with the utmost integrity and objectivity, striving at all times to enhance the reputation and performance of the Company.
The Principles of Conduct are discussed with each new director, employee, contractor or consultant as part of their induction.
The Company subscribes to the Australian Petroleum Production & Exploration Association (APPEA) Principles of Conduct.
These are set out below
APPEA Vision and Mission
The Vision
APPEA's vision is to be recognised nationally and internationally as the representative of the oil and gas exploration and production industry in Australia.
The Mission
APPEA's mission is to achieve a legislative, administrative, economic and social framework which efficiently and effectively facilitates safe, environmentally responsible, socially responsible and profitable oil and gas exploration, development and production.
The Values
APPEA will provide leadership and enhance industry credibility through a strong commitment to:
ethical and responsible conduct;
world class safety performance;
environmental sensitivity and responsibility;
a factual and open approach to issues;
technical and operational excellence;
free market competition;
self regulation;
an appropriate sharing of risks and rewards; and
seeking to develop a consensus view of all members.
Key Objectives
APPEA will work to facilitate:
a stable, competitive fiscal regime to encourage increasing investment in exploration, development and production.;
continued access to areas for exploration under multiple and sequential use principles;
self-regulation through the formulation and acceptance of codes of practice in key areas of business activity; and
an efficient and competitive Australian petroleum resource industry which operates to the highest safety and environmental standards.
Key Strategies
APPEA's key strategies are to:
Develop an administrative and organisational structure to effectively communicate with audiences and represent stakeholders of APPEA which is appropriately funded to ensure the achievement of it's vision, mission and key objectives.
Work with Federal and State Governments in a proactive, consultative and constructive manner to influence policy and generate an understanding and awareness of the importance of the petroleum resources industry within the Australian economy.
Educate and inform the community about the petroleum resource industry's activities, operations and performance and the benefits to be derived from developing and producing the nation's petroleum resources.
Provide a forum for technical, commercial and social interaction and the facilitation of effective research and development on issues affecting both the industry and the community.
Maintain close working relationships with member companies and their employees and other business and industry associations.
Principles of Conduct
The Australian Petroleum Production and Exploration Association (APPEA) and its member companies have agreed to this set of Principles of Conduct to communicate and explain our shared core values to industry, regulators, and the communities in which they operate.
The Principles of Conduct provide the basis for achieving the APPEA mission of a legislative, administrative, economic and social framework which efficiently and effectively facilitates safe, environmentally responsible, socially responsible and profitable oil and gas exploration, development and production.
APPEA members will continuously seek opportunities for improvement in our business practices and our economic, health, safety, environment and social performance. In striving to achieve this, APPEA and its members endorse the following nine Principles of Conduct:
Ethical and responsible business practices.
Sustainable development considerations integrated into company decision making.
Foster economic growth and business development, generate government revenue, provide commercial returns to the industry and contribute to the wealth generated by Australia's natural resource base.
Health, safety, environmental and community risk management strategies that are based on sound science and effective communication.
Continuously seek opportunities to improve health, safety and environmental performance in addressing risks posed by our operations to employees, contractors, the public and the environment.
Contribute to the conservation of biodiversity and protection of the environment through responsible management of our operations and their impacts.
Foster economic and social development of the communities in which we operate.
Respect the rights and dignity of our workforce, and deal fairly with our workforce, suppliers and the communities in which we operate.
Open and effective engagement with the communities in which we operate.