Tullow Oil plc 2011/2012 Corporate Responsibility Report - The Group

More informationPageGhana baseline study 29Tullow Group Scholarship Scheme 771OVERVIEWIn 2011, we moved our social enterprise strategy to the nextlevel, to focus on projects that support capacity building forthe oil and gas industry and improve education and training.In 2011, we launched the pilot phase of the Tullow GroupScholarship Scheme with bursaries to 24 Ghanaians from thepublic sector to study industry related Masters Degrees in theUK. This year up to 110 scholarships will be awarded to localnationals, mainly in Africa.In 2012, we are undertaking a macro socio-economic study inGhana to document the impact of Tullow’s activities to date andto highlight areas for future development. In Uganda and Kenyawe are undertaking socio-economic baseline studies to identifyways that we can mitigate our impacts and create a wide rangeof social and economic development opportunities. We have alsodecided to review our social investment strategy in Uganda andKenya to evolve these into a long-term, measurable set ofstrategic objectives.None of this would be possible without the commitment andenthusiasm of Tullow people. Our 2011 global employee andcontractor survey demonstrated high levels of engagement aswell as some inevitable growing pains. Maintaining andenhancing our culture and building our organisational capacityremain key priorities for the Board.We are evolving into the leading global independent explorationand production company, giving us a higher profile that attractsmore attention and scrutiny. Tullow operates in a diversepolitical, social and environmental arena and we are dealingwith an increasingly complex group of stakeholders. We aremaking good progress with creating shared prosperity and Ilook forward to reporting on another year of achievementagainst our objectives in my next review.Aidan HeaveyChief Executive OfficerTullow’s 2012 principal risks and uncertainties in relation to theGroup’s financial and operational performance are set out indetail in the 2011 Annual Report. These include completion ofthe Uganda farm-down and timely approvals from Ugandanauthorities for basin-wide development, delivery of productiontargets, exploration and appraisal risks with 40 wells planned in2012, management of shareholder expectations and strongfinancial and portfolio management.Tullow also has a number of specific corporate responsibilityrisks, in particular government relations and stakeholderengagement, in reference to the 2012 Board objective tosignificantly improve political and economic risk informationand country risk profiling. In addition, the Group has a range oflong-term risks, including corporate responsibility risks, whichcould potentially adversely impact our employees, operations,performance and assets. For more information visitwww.tullowoil.com/riskExecutive DirectorsAidan HeaveyChief ExecutiveOfficerGraham MartinGeneral Counsel &Company SecretaryPaul McDadeChief OperatingOfficerAngus McCossExplorationDirectorIan SpringettChief FinancialOfficerRisk management External risk Governance risk Operational risk Exploration risk Financial riskRisk assurance Executive team ComplianceCommitteeDevelopment& OperationsLeadership TeamGlobal ExplorationLeadership TeamFinance RiskCommitteeCR ResponsibilitiesExternal affairs,Stakeholderengagement,Social performancePeople, Localisation,Governance,Ethics,ComplianceEnvironment,Health & Safety,Crisis managementInformation systemsmanagement andsecuritySustainablesupply chain,Local content,Shareholderrelations15www.tullowoil.com