Tullow Oil plc

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Glossary

A

AGM: Annual General Meeting
AFS: Available for sale

B

bll: Barrel
bcf: Billion cubic feet
boe: Barrels of oil equivalent
boepd: Barrels of oil equivalent per day
bopd: Barrels of oil per day

C

CMS: Caister Murdoch System
CMS III: A group development of five satellite fields linked to CMS
CR: Corporate Responsibility
CSO: Civil Society Organisation
CNOOC: China National Offshore Oil Corporation

D

DLT: Development Leadership Team
DoA: Delegation of Authority
DRC: Democratic Republic of Congo
DSBP: Deferred Share Bonus Plan

E

EA: Exploration Area
E&E: Exploration and evaluation
E&A: Exploration and Appraisal
E&P: Exploration and Production
EBITDA: Earnings Before Interest, Tax, Depreciation and Amortisation
EHS: Environment, Health and Safety
EMS: Environmental Management System
ERC: Energy Resource Consultants
ESOS: Executive Share Option Scheme

F

FEED: Front End Engineering and Design
FPSO: Floating Production Storage and Offloading vessel
FRC: Financial Reporting Council
FRS: Financial Reporting Standard
FTG: Full Tensor Gravity Gradiometry
FTSE 100: Equity index whose constituents are the 100 largest UK listed companies by market capitalisation
FVTPL: Fair Value Through Profit or Loss

G

GELT: Global Exploration Leadership Team
GNPC: Ghana National Petroleum Corporation
GoU: Government of Uganda
Group: Company and its subsidiary undertakings

H

H&S: Health and Safety
HIPO: High Potential Incident
HNBS: Hewitt New Bridge Street
HR: Human Resources

I

IAS: International Accounting Standard
IASB: International Accounting Standards Board
IFRIC: International Financial Reporting Interpretations Committee
IFRS: International Financial Reporting Standards
IMS: Information Management System
ISO: International Organization for Standardization

K

km: kilometres
KPI: Key Performance Indicator

L

LIBOR: London Interbank Offered Rate
LTI: Lost Time Incident
LTIFR: LTI Frequency Rate measured in LTIs per million hours worked

M

mmbbl: Million barrels
mmbo: Million barrels of oil
mmboe: Million barrels of oil equivalent
mmscfd: Million standard cubic feet per day
MoU: Memorandum of Understanding
MTM: Mark To Market

N

NGO: Non-Governmental Organisation

O

OR&A: Operational Readiness and Assurance

P

p: pence
P10: Reserves and/or resources estimates that have a 10 per cent probability of being met or exceeded
P50: Reserves and/or resources estimates that have a 50 per cent probability of being met or exceeded
P&D: Production and Development
PAYE: Pay As You Earn
PRT: Petroleum Revenue Tax
PSC: Production Sharing Contract
PSP: Performance Share Plan

S

SCT: Supplementary Corporation Tax
SIP: Share Incentive Plan
SMC: Senior Management Committee
SPA: Sale and Purchase Agreement
sq km: Square kilometres
SRI: Socially Responsible Investment

T

toes: Tullow Oil Environmental Standards
TSR: Total Shareholder Return

U

UK GAAP: UK Generally Accepted Accounting Principles

V

VAT: Value Added Tax

W

WAEP: Weighted Average Exercise Price
WCTP: West Cape Three Points

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