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

Ethiopia EUganda EDKampalanya ETanzania EUGANDAThe Group has had interests in Ugandasince 2004, where over 1.1 billion barrelsof oil have been discovered to date in theLake Albert Rift Basin. In February 2012,Tullow successfully completed thefarm-down of two-thirds of its Ugandanacreage to CNOOC and Total for$2.9 billion. The Group, together withits partners, is now preparing to embarkupon the development of the country’soil industry. Development planning isprogressing and major production fromthe Lake Albert Basin is expected tocommence approximately 36 monthsafter a final investment decision is taken.Concurrently, options are beingconsidered that would allow for the saleof small volumes of crude from welltesting as well as some potential smallscale power projects. The partnershipexpects to submit options fordevelopment of the Lake Albert Basinto the Government later this year. Theseoptions are primarily premised on thedevelopment of a crude export pipeline.Capital investment in 2012 is expectedto be $262 million.Namibia DSouth AfricaCape TownMadagascar E35www.tullowoil.com