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

ABOUT THIS REPORTEach year, we solicit feedback and suggestions on howwe can improve our reporting. This has resulted in newfeatures in our 2011/2012 report, including a letter fromour new Chairman, Simon Thompson, discussing thechallenge of how to maximise the benefits of oil whileminimising any adverse impacts; a more extensiveoverview of how we define stakeholders’ issues andmateriality; a new Regional Business special feature;and expanded 2011/2012 performance informationand 2012/13 KPIs. Assured data in this report is forthe financial year ending 31 December 2011.Our reporting objective is to give a fair and transparentoverview of our corporate responsibility performance.Sections 1 and 2 provide a summary of our progressin 2011/2012, with detailed information for those whowish to read more in sections 3 and 4.The report has been published online as an interactivepdf. We have also published a summary reportin English and French for easy use in externalengagements, particularly where the audience islarge and the majority of readers may not wish toaccess the most detailed information.June 2012CREATING SHARED PROSPERITY‘Creating Shared Prosperity’ is the ‘big idea’ we are workingtowards to make sure we run our business in a way that makesa positive and lasting contribution to economic and socialdevelopment in our host countries. This year’s report charts ourprogress toward this and our plans for 2012/2013. We use thesesymbols throughout to signpost the eight key elements ofCreating Shared Prosperity.Financial performanceGovernanceStakeholder engagementEnvironment, Health & SafetyOur peopleSustainable supply chainLocal contentSocial enterprise1234CONTENTSOVERVIEWTullow had a record year in 2011 and there is much to lookforward to in 2012. Learn more about us, our performanceand our approach to corporate responsibility.4 Chairman’s statement6 Performance highlights8 Tullow at a glance10 Chief Executive’s review12 Strategy, business model and values14 Governance, risk and corporateresponsibility frameworkSTAKEHOLDER PRIORITIESEngaging with our stakeholders, listening to their issuesand concerns and addressing these through our actionshelps build a strong foundation for our business activities.Read about our approach to identifying the issues ofmost importance.18 Stakeholder engagement19 About this report20 Why we engage23 Special feature: Responsible businessMEASURING OURPERFORMANCEWe made good progress in all aspects of creating sharedprosperity in 2011 and have exciting plans to deliver anotheryear of achievement against our objectives in 2012. Readabout our Corporate Responsibility performance here.50 Performance overview56 Governance60 Stakeholder engagement62 Environment, Health & Safety (EHS)68 Our people72 Sustainable supply chain74 Local content76 Social enterpriseSUPPLEMENTARYINFORMATIONThis section contains the independent assurance report,supplementary data, including payments made to theGovernment of Ghana, and a resource guide to help you findout more about Tullow.80 Independent Assurance Report81 Supplementary Data84 Key Corporate Responsibility Policiesand Systems85 Glossary86 Index87 Contacts and feedback88 Other resources1www.tullowoil.com