The UK Corporate Governance Code
The UK Corporate Governance Code 2010 (the ‟Code”) took effect from June 2010, replacing the Combined Code on Corporate Governance. The Code is publicly available on the Financial Reporting Council’s website at www.frc.org.uk. As a UK company with a premium listing on the London Stock Exchange, Tullow Oil plc is required to state how it has applied the principles contained in the Code and to disclose whether it has complied with the provisions of the Code during the year. The main principles of the Code focus on Leadership, Effectiveness, Accountability, Remuneration and Relations with Shareholders. Details of how Tullow has applied these main principles are set out below. It is the Board’s view that the Company has fully complied with the Code provisions during the year ended 31 December 2011.