Our energy future: the power of collaboration to transform Australia’s energy resources sector
Miranda TaylorNERA, 26 Dick Perry Avenue, Kensington, WA 6151, Australia. Email: miranda.taylor@nera.org.au
The APPEA Journal 57(2) 552-555 https://doi.org/10.1071/AJ17014
Accepted: 31 March 2017 Published: 29 May 2017
Abstract
After decades of sustained economic growth, Australia is experiencing declining productivity, accelerating technological change and disruption. At the same time, the energy sector is emerging from a massive investment phase, while facing its own perfect storm of disruptive challenges.
The industry must navigate these challenges to remain globally competitive. Continuing old practices is a sure pathway to stagnation and decline; we must urgently find different ways to do things.
Global benchmarking of the Australian energy resources sector, undertaken recently on behalf of NERA, indicated substantial room to improve the efficiency and productivity of the sector. The report outlines more than AU$5 billion of value through improvements across the following four key areas: supply chain, research and innovation, workforce and regulatory reform, and collaboration is the key.
Over the past 24 months, Australian energy-resource companies have focussed on lowering capital cost and improving profitability through efficiency, ensuring the industry has the fundamentals needed to be globally competitive.
However, transformational change is needed if the sector is to survive and thrive in this age of innovation and disruption. Further, Australia’s energy resources marketplace is too small to focus only internally. Industry, suppliers, innovators and knowledge experts must collaborate locally, forming connections to access the global marketplace.
The size of the prize is significant for everyone. The Australian energy resources sector has the potential to continue to meet the regions energy-resource needs for many years, generate substantial revenue for the nation and grow an export-orientated service and technology sector.
Keywords: industrial Internet of Things, integrated automation, networks.
Prior to appointment as CEO of National Energy Resources Australia, Miranda Taylor was the Director Environment, Safety and Operational Performance for APPEA. Miranda has more than 20 years of experience in strategic policy, risk management and stakeholder engagement, working with various industries and with State and Federal governments. Miranda has participated in several taskforces and ministerial panels, and has presented at international oil and gas industry events. She facilitated APPEA’s interaction with the global industry in response to the Gulf of Mexico well-control integrity disaster and the Australian Montara incident. Miranda has an Honours Degree from The London School of Economics, London University in International Economics and Politics, and a Post Graduate Degree in Labour Relations. |
References
Australian Government (2016). National Research Infrastructure Capability Issues paper. Available at https://docs.education.gov.au/documents/national-research-infrastructure-capability-issues-paper [Verified 3 April 2017].NERA (2016). Oil & gas industry competitiveness assessment. Available at http://www.nera.org.au/Article?Action=View&Article_id=56 [Verified 3 April 2017].
NERA (2017). A sector competitiveness plan for Australia’s energy resources. Available at https://www.nera.org.au/Article?Action=View& Article_id=72 [Verified 3 April 2017].
World Economic Forum (2016). The global competiveness report 2016–2017. Available at https://www.weforum.org/reports/the-global-competitiveness-report-2016-2017-1 [Verified 3 April 2017].
