Europe, South America & AsiaDEVELOPINGOPPORTUNITIESThis portfolio contains key producing assets and a number of excitingexploration opportunities. We have gas production assets in Asia, the UKand the Netherlands, significant exploration acreage in South America anddiscovered oil offshore French Guiana in September <strong>2011</strong>.SevenCountries154Employees47Licences57,793 SQ KMLicence acreage120.8 MMBOEReserves & resources20,800 BOEPDWorking interest production$360 MILLION<strong>2011</strong> sales revenue, 16% of <strong>Group</strong> total$390 MILLION<strong>2012</strong> forecast capital expenditureKey<strong>2011</strong> drilling activityED44Key producing assetCompliance training and forumsCommunity Liaison team in-countryEHS data reported<strong>Tullow</strong> employees (<strong>2011</strong>)Local content expenditure reportedOffshoreExplorationDevelopmentPOnshoreProductionKey officeThis map gives an overview of ouractivities in the Europe, South America& Asia (ESA&A) region. In addition,<strong>Tullow</strong> has qualified as an operator onthe Norwegian Continental Shelf andwe are actively looking at investmentopportunities as a first step in the<strong>Group</strong>’s strategy in the North Atlantic. InApril <strong>2012</strong>, <strong>Tullow</strong> was awarded Block 15in the offshore Uruguay licensing round.<strong>The</strong> block is 8,030 sq km and <strong>Tullow</strong> hascommitted to shoot a 300 sq km 3Dseismic survey.In March <strong>2012</strong>, we announced ourintention to divest our assets in Asia inorder to focus on our core African andAtlantic Margin strategy. Across theESA&A portfolio, the mix of operated andnon-operated, mature and more recentassets creates a wide variety in the scopeof our corporate responsibility activities.NETHERLANDSIn <strong>2011</strong>, we expanded our Dutch portfoliowith a $432 million acquisition of anon-operated portfolio of gas producingfields, a range of explorationopportunities and an equity interest ininfrastructure. We think offshore theNetherlands is an area of greatexploration potential and our experiencein the North Sea provides a strongplatform for expansion. In <strong>2012</strong>, we willdrill our first operated exploration well inthe Netherlands and we have begun toidentify potential partners for socialinvestment and environmental initiatives.UNITED KINGDOMIn 2000, <strong>Tullow</strong> entered the UK offshore,with the acquisition of a significantnumber of Southern North Sea gasassets. <strong>The</strong> <strong>Group</strong>’s strategy for the UKis to offset natural decline and prolongthe life of these mature fields. <strong>The</strong>non-operated Katy development (block44/19b) is on track for first gas inDecember <strong>2012</strong>.<strong>The</strong> Europe Business Unit operates inOrganisation for Economic Co-Operationand Development (OECD) countries.Social investment may seem lessrelevant here than in the developingcountries where <strong>Tullow</strong> <strong>Oil</strong> has interests,however, a strong NGO sector isspearheading socio-economic andenvironmental initiatives in thesecountries, supported by public andprivate sources of capital. Funding forthese can be limited, especially in timesof recession, and <strong>Tullow</strong> is looking atmeaningful ways to invest and buildpartnerships. Our aim is to demonstrateour commitment to societies, buildcapability and develop our relationshipswith host country stakeholders. Otherbenefits to <strong>Tullow</strong> include developing ourunderstanding of each country,supporting our commercial objectivesand strengthening the <strong>Tullow</strong> brand.FRENCH GUIANAIn September <strong>2011</strong>, the first explorationwell offshore French Guiana encounteredoil, establishing a new basin and provingthat the Jubilee play is mirrored acrossthe Atlantic from West Africa to SouthAmerica. At the time of the discovery<strong>Tullow</strong> was operator of the GuyaneMaritime licence – since then operatorshiphas transferred to a joint venture partner.<strong>Tullow</strong> <strong>Oil</strong> <strong>plc</strong> <strong>2011</strong>/<strong>2012</strong> <strong>Corporate</strong> <strong>Responsibility</strong> <strong>Report</strong>
United Kingdom EDPIrelandDublinLondonNetherlands EDPPakistan EPBangladeshEDPGuyana ESuriname EFrench Guiana EGUYANAIn February <strong>2012</strong>, our joint venturepartners commenced drilling a strategicbasin-testing well, the Jaguar-1prospect, offshore Guyana. We haveundertaken a multi-stage riskassessment to identify all majorhazards and implement detailedcontingency plans for all well designand drilling elements. Guyana is anon-operated licence.SURINAMEIn 2010, we signed a Production SharingContract for Block 47, a 2,369 sq kmdeepwater exploration licence offshoreSuriname. We commenced a 3D seismicsurvey in Block 47 in May <strong>2012</strong> and inpreparation for this a PreliminaryEnvironmental and Social ImpactAssessment (PESIA) was undertaken(published online at www.tullowoil.com/surinamePESIA). Engagement withenvironmental NGOs has been central tothe management of our activities in thearea. In addition, <strong>Tullow</strong> has a nonoperatedinterest in the Coronie block,onshore Suriname, where a five-wellcampaign began in late <strong>2011</strong>.BANGLADESHWe entered Bangladesh in 1997 andbegan producing gas from the BangoraGas field in 2006. <strong>The</strong> Bangora fieldcontributes a significant volume of gas toBangladesh’s national grid, and asoperator we have maintained our focuson safe and efficient operations andcontribute to grassroots socio-economicdevelopment in the villages around ouroperations. We have made, and continueto make, investments in education andincome generation schemes as proactivemeasures aimed at reducing poverty inthe area. <strong>The</strong>se have included providingbursaries for high-achievingunderprivileged students, and a wideprogramme of skills training focused oncapacity building and sustainabledevelopment.We are working with local partner NGOsto provide access to safe drinking waterthrough installation of arsenic removalplants, and are introducing a sanitationprogramme at 15 local schools. We alsorun a successful tree plantingprogramme, which in <strong>2011</strong> distributed20,000 saplings through students in thelocal area.PAKISTAN<strong>Tullow</strong> has been active in Pakistan since1991, where we hold an explorationportfolio. Exploration drilling has beenongoing and production from theextended well test at Shekhan in theKohat licence was maintained during<strong>2011</strong> at low levels, providing reservoirdata which will be used to plan additionalappraisal or development drilling.45www.tullowoil.com