Creating shared prosperity
We have made a commitment to playing our part in ensuring that the success of the oil and gas industry brings transparent and tangible benefits to local people and national economies where we operate.
- Financial performance Delivering returns for shareholders and providers of capital
- Governance Managing our business ethically and with integrity
- Stakeholder engagement Engaging with and responding to all our stakeholders
- Environment, Health & Safety Keeping our people safe and minimising our environmental footprint
- Our people Being a rewarding, challenging and great place to work
- Sustainable supply chain Building long-term sustainable supplier relationships
content Creating real opportunities for local people and local enterprise development
Tullow is involved in developing new oil industries in Ghana and Uganda. The Group is also engaged in high-impact E&A campaigns in Africa and the Atlantic Margins in up to 14 countries within the next 12 months. This level of activity is driving an accelerating step change in our corporate responsibilities as we seek to manage complex operations in diverse political, social and environmental contexts. Our success in discovering three new oil basins in the last five years has also significantly raised Tullow’s profile and we are dealing with an ever increasing group of stakeholders with disparate and sometimes conflicting agendas.
The 'Creating Shared Prosperity’ element of Tullow’s business model brings together eight areas of focus to ensure we make a lasting and positive contribution wherever we operate. It also helps shape our investment in projects that establish clear links between the need to manage our impacts and to achieve our strategic objectives. Other aspects of the business model, notably 'Finance & portfolio management’, 'Governance & values’ and 'Organisation & culture’, are also considered to be key contributors to creating shared prosperity.
We provide a summary here of how we performed in 2011. A detailed review will be published in a separate Corporate Responsibility (CR) Report which will be available in June this year.