In presenting the award, named for Beach's founder, APPEA chairman Eric Streitberg paid tribute to Nelson's lifetime involvement in, contribution to, and significant success in Australia's oil and gas industry.

"Reg Nelson is a giant and a true gentleman of our industry. He is a sought-after industry expert and a highly successful business leader who inspires everyone around him to share his passion for exploring and achieving the full potential of Australia's oil and gas industry," Streitberg said.

He noted it was appropriate for the award to be made to Nelson in Darwin as it was 19 years ago at the APPEA 1990 conference in the Northern Territory city that Reg Nelson first talked to Reg Sprigg about joining Beach.

"Reg's contribution has not been limited to his business activities. During his career he advanced the development and success of the industry as a whole through his involvement with APPEA," Streitberg added.

Nelson was elected a councillor of APPEA in 2001 and served as chairman from 2004 to 2006.

He remains a strong advocate for small Australian oil and gas companies and has championed many new and emerging industry frontiers, including the potential of new geological frontiers in Queensland.

"Tonight Reg Nelson takes out the award named after his great mate Reg Sprigg, and the reputation of the Reg Sprigg award continues as an honour for those legends who have made an exceptional contribution to our industry," Streitberg said.

Nelson has had a long career in the industry, spending a part of his career as chief geophysicist and director of mineral development for the South Australian Mines Department in Adelaide.

He became a director of Beach in 1992, the year after the Independent Resources fraud on Beach was uncovered, and was appointed chief executive officer in 1995.

Since then, Beach has grown into one of Australia's top mid-tier Australian oil and gas companies.