A Comprehensive Report on 3D Oil Limited's Sustainability Approach

This report provides a detailed analysis of 3D Oil Limited's approach to sustainability, focusing on economic, social, and environmental aspects. The report begins with an overview of the company, highlighting its operations in Australia's oil and gas sector. It then delves into the specifics of 3D Oil Limited's sustainability practices, emphasizing their contributions to economic development through job creation and revenue generation, their commitment to social responsibility by ensuring fair labor practices and employee well-being, and their efforts to minimize environmental impact through environmental plans and approvals. The report concludes that 3D Oil Limited's sustainability initiatives enhance its market image and contribute to long-term growth and success.

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Table of Contents
Introduction.................................................................................................................................................3
Main Body...................................................................................................................................................3
Overview of company:............................................................................................................................3
Sustainability...........................................................................................................................................3
Economic Sustainability:.........................................................................................................................4
Social sustainability:................................................................................................................................4
Environmental Sustainability:..................................................................................................................5
Conclusion...................................................................................................................................................6
References...................................................................................................................................................7

Introduction
Sustainability has become a crucial aspect in current time as it is based on following the
eco-friendly approaches to run the business. Basically, sustainability is about creating value by
considering social, economical and environmental aspects. By following sustainable practices, it
is possible for a company to improve its brand reputation in the market (Sadaghiani & et. al.,
2015). For the present study, 3 d oil limited is taken into consideration which is an oil & gas
exploration company based on Australia. It was founded in 2003 and was listed in Australian
Stock exchange. The study will cover sustainability approaches followed by the company in
detailed manner. Further, the information will be taken out from the annual reports, website of
the organization.
Main Body
Overview of company:
3 D oil limited was started in 2003 in Australia. The initial formation of the organization
was based on Gippsland Basin that is well-known gas producing region of the country. Here, the
main aim of the entity is to target technical & commercial considerations specilfically in the
eastern region of Australia. Currently, 3 d oil limited is showing interest in exploration permits in
offshore Gippsland and new petroleum province in northwest region of the country. Also, 24.9 %
interest is hold by the respective organization in the highly prospective VIC/ P57 exploration
permit. Additionally, this exploration in offshore southeast Australia has been awarded of
VIC/P74 in 2018 as a part of offshore acreage release. This program is expected to deal with the
conversion issue in an efficient manner. The company is listed in stock exchange of Australia
since 2007. The major projects of the organization are VIC/P57, Gippsland Basin, VIC/ P74
Gippsland Basin T /49P, Otway Basin and more (3D OIL, 2021). Also, the company follows
effective approaches of sustainability for the betterment of the environment and the society as
well.
Sustainability
Sustainability refers to follow the eco-friendly practices in order to build long-terms
value of business. In oil and gas industry, following sustainable practices is crucial in order to
ensure future growth & success in an efficient manner. Here, 3D oil limited can contribute in

attainment of sustainable goals by providing access to each & everyone of affordable energy,
opportunities of employment, skill development and more. The company is running several
projects that will contribute in economic, social development in terms of enhancing employment
opportunities, generating revenue and more. In addition, they ensure to meet with oil & gas
needs of environment and society efficiently. For this purpose, they are likely to provide oil ans
gas at affordable price. Here, different sustainability pillars in respect of the selected company
are mentioned below:
Economic Sustainability:
In terms of economic prospective, it is the responsibility of each & every person to secure
& protect the resources to create a sustainable future. Here, the main focus is on making efficient
use of available resources, following recycling & reusing practices. In sustainable development,
there is main focus on enhancing the income sources, living standard of people to ensure the
overall development of society in an efficient manner. In other words, economic sustainability
signifies the practices which are adopted for long-term economic development of the country
while protecting the society and environment at the same time. In this context, the organization
needs to contribute in development of economy by creating job opportunities, enhancing the
sources of income so that the people can enjoy a healthy & standard life style. The major
elements of economic sustainability are income, inflation, profitability, rate of employment and
so on (Silvestre and Gimenes, 2017). In context of 3D oil limited, they provide employment to
ample of people which further enhance the flow of income in the economy. Additionally, they
are running various projects wherein they are required human resources. Here, they generate the
employment opportunity in the nation. Further, they also contribute in GDP of the country in
significant manner. 3D oil limited and its subsidiaries across Australia contributes in economic
development by paying income-tax. In the global economy conditions are changing but the
respective organization is really promising for gas commercialization in eastern part of Australia.
As a result, it will become the major supplier of gas in the country which further enhance the
supply of gas efficiently. In addition, the company is recovering rapidly and enable to contribute
in the oil & gas industry globally (3D Oil Completes Farmout to ConocoPhillips Australia,
2020).

Social sustainability:
Social sustainability refers to the practice of creating a healthy future for the upcoming
generations. It is about providing a better life and future to the society. In other words, social
sustainability refers to a process to create sustainable places in order to promote the well-being
of needy people by knowing what exactly people want from their work & life,. In business social
sustainability is about understanding the impact of corporations of society as well as people. In
organizations, it is imperative to address the issue related to human resources, follow suitable
labor practices, providing better & effective working conditions to each and every worker. Here,
it is crucial to consider the employees as a social element and maintain such an environment
wherein employees can easily maintain balance in personal as well as professional life. For this
purpose, business owners promote health and safe conditions, empowerment, community
engagement in the company (Orazalin and Mahmood, 2018). In case of 3D oil gas limited, they
ensure to treat all the employees equally. For this purpose, they are likely to provide equal
opportunity to each and every employee. Also, they ensure to maintain friendly atmosphere at
workplace so that the employees can grow and succeed while working. The company appoints
workers and providing them necessary training for future enrichment. By providing better
working environment, it is ensured that employees can maintain a perfect balance in personal as
well as professional life while working in the company. Additionally, they ensure to provide
adequate amount of compensation to each & every worker in order to keep them satisfied and
motivated towards the work in an efficient manner. Also, the organization respects the diversity
and acknowledge that the performance of the workers is associated with the workplace diversity
(Diversity policy 3D Oil limited, 2021) Therefore, the organization is significantly contributing
in economic development along with the exploration of gasoline in the country.
Environmental Sustainability:
In business, environmental sustainability is the major aspect which needs to be
considered profoundly. Environmental sustainability refers to follow such practices that are eco-
friendly and do not cause any harm to the environment. It is the responsibility to use natural
resources & protect the global eco-system in order to support health & well-being in an efficient
manner. If a company follows environmental sustainable practices, it is easy to establish positive
image in the market. Additionally, it is the practices of dealing with the environment in a
sustainable way by preventing the depletion of natural resources. Sustainability improves the

quality of life, protects the eco-system and safeguards the natural resources for the betterment of
future generation. In organizations, it is crucial to minimize the wastage, use of hazardous
chemicals in order to ensure long-term benefit of environment (Bennaceur, 2019). However, oil
& gas industry is considered as the major source of gas emission which contributes in
environmental pollution as well. But, 3D oil limited follows environmental friendly practices.
For this purpose, they have been received approval from an environmental plan to shoot the
dorrigo 3D MSS on the central & south areas of T/49 P. Here, the survey will make the company
enable to evaluate the large leads which has identified on existing 2 D seismic and will help in
the development and selection of sustainable drill target. Additionally, the entity has participated
in the environmental interested activities in ample of oil & gas areas. In 2014, the entity received
environmental approvals from the commonwealth statuary national agency; nopsema to acquire
marine seismic survey within 100% owned WA-527-P of the offshore Roebuck Basin (3D Oil,
2021). Therefore, the organization is highly concern regarding the environment thus take suitable
steps in order to ensure future sustainability of the environment. For this purpose, they are
running various environmental plans and have approvals as well.
Conclusion
It is assessed out of above-mentioned information that oil & gas industry is enhancing in
an efficient manner. The above-study is based on sustainability aspects within the oil & gas
industry. It is analyzed that 3D gas limited is an Australian oil company which works for
exploration of oil and gas. Additionally, it is concluded that the organization follows
sustainability practices in terms of social, economical and environmental sustainability. Here, the
sustainability approaches will allow company in contributing towards the enhancement of
economy, society as well as environment. It will improve the market image of the entity and also
improve the future opportunities of growth & success.

References
Books and journals
Sadaghiani & et. al., (2015), April. Evaluation of external forces affecting supply chain
sustainability in oil and gas industry using Best Worst Method. In 2015 International
Mediterranean Gas and Oil Conference (MedGO) (pp. 1-4). IEEE.
Silvestre, B.S. and Gimenes, F.A.P., (2017). A sustainability paradox? Sustainable operations in
the offshore oil and gas industry: The case of Petrobras. Journal of Cleaner
Production, 142, pp.360-370.
Orazalin, N. and Mahmood, M., (2018). Economic, environmental, and social performance
indicators of sustainability reporting: Evidence from the Russian oil and gas
industry. Energy policy, 121, pp.70-79.
Bennaceur, K., (2019). How the oil and gas industry is contributing to sustainability. Journal of
Petroleum Technology, 71(03), pp.38-39.
Online
3D Oil Completes Farmout to ConocoPhillips Australia, (2020). [Online]. Available through:<
https://www.rigzone.com/news/3d_oil_completes_farmout_to_conocophillips_australia-12-jun-
2020-162379-article/
3D Oil. Annual report (2021). . [Online]. Available through:<
https://www.3doil.com.au/investors/annual-reports/>
3D Oil. Overview. (2021)[Online]. Available through:<
https://www.3doil.com.au/about/overview/>
Diversity policy 3D Oil limited, (2021). [Online]. Available through:<
https://3doil.com.au/pdfs/210519_TDO_GOV_Diversity%20policy_FINAL.pdf/>