Report tools
-
Print
-
-
Notes for this page
-
Download
-
Glossary
A
- AA1000SES
-
AccountAbility AA1000 Stakeholder Engagement Standard
- ACET
-
Assists African governments to achieve long-term economic growth and transformation www.acetforafrica.org
B
C
- CCDP
-
Community Consultation and Disclosure Programme
- Conship
-
A wholly owned Ghanaian freight forwarding and logistics company www.conshiponline.com
- CNOOC
-
China National Offshore Oil Company
- CR
-
Corporate Responsibility
- CSO
-
Civil Society Organisation
E
- E&A
-
Exploration and Appraisal
- EHS
-
Environment, Health and Safety
- EHSMS
-
EHS Management System
- EIA
-
Environmental Impact Assessment
- EITI
-
Extractive Industries Transparency Initiative
- EMS
-
Environmental Management System
- ENSCO
-
Provider of offshore contract drilling services to the oil and gas industry www.enscoplc.com
- ES
-
Environmental Statement
- Eirik Raude (The)
-
a fifth-generation semi-submersible drilling unit
- ESIA
-
Environmental and Social Impact Assessment
F
- Farm-down
-
the sale of a percentage of a licence interest to another company
- FPSO
-
Floating Production Storage and Offloading vessel
- FTSE 100
-
Equity index whose constituents are the 100 largest UK listed companies by market capitalisation
G
- GHG
-
Greenhouse gases
- GIS
-
Geographic Information System
- GOELF
-
Ghana Offshore Emergency Leadership Forum
- GRI
-
Global Reporting Initiative
H
- H&S
-
Health and Safety
- HiPo
-
High Potential Incident
- HiPoFR
-
HiPo Frequency Rate measured in HiPos per million hours worked
- HR
-
Human Resources
I
- IFR
-
International Regulators Forum
- IMS
-
Information Management System
- IPIECA
-
International Petroleum Industry Environmental Conservation Association
- ISAE
-
International Standards on Assurance Engagements
- ISO
-
International Organization for Standardization
K
L
M
- MSF
-
Multi-stakeholder forum
N
O
- OGP
-
International Association of Oil and Gas Producers (The)
- ONE
-
Grassroots advocacy and campaigning organisation fighting extreme poverty and preventable diseases www.one.org
- OHSAS
-
Occupational Health & Safety Advisory Services
- OSRL
-
Oil Spill Response Ltd
- OSPRAG
-
Oil Spill Prevention and Response Advisory Group
R
- RBM
-
Regional Business Manager
S
- Safety Case
-
A document or suite of documents that identifies, assesses, and documents major hazards
- SE
-
Social Enterprise
- SMC
-
Senior Management Committee
- SRI
-
Socially responsible investment
- sq km
-
Square kilometres
T
- toes
-
Tullow Oil Environmental Standards
- TRI
-
Total Recordable Injuries
- TRIFR
-
TRI Frequency Rate measure in TRIs per million hours worked
U
V
- VAFR
-
Vehicle Accident Frequency Rate measured in vehicle accidents per million kms driven
W
- Well engineering
-
is responsible for the design, construction and maintenance of wells
- Well integrity
-
relates to the safety and ongoing viability of a well during its entire lifecycle
-
My Report
You do not have any pages or notes saved.
You can create your own list of important report pages and accompanying notes here. You can then print your selected pages and notes, download them as a PDF, or email a list of the pages you've saved.
To save a page, click the "Add+" button at the top of any report page.
To add a note to a page, click on the 'Notes' tab and fill out the form. If you want to add another note to the page, simply add it to the same form.
Your list of saved pages and notes will appear in this window.
Governance, corporate responsibility and risk framework
Tullow has a strong governance and organisational framework that gives direct accountability and ownership to individuals, promotes transparency in our activities and sets the standard for acceptable and ethical behaviour. In particular, risk management and corporate responsibility are embedded in how we run our business.
2011 principal risks and uncertainties in relation to the Group's financial and operational performance this year are set out in our 2010 Annual Report. In addition, one of the Board's 2011 objectives, which are tracked monthly, is to monitor the following corporate responsibility risks:
- External stakeholder relationships;
- Health and safety, with particular emphasis on malaria awareness and prevention;
- UK Bribery Act and implementation of Tullow's Code of Business Conduct;
- Organisational capacity as the business continues to grow rapidly; and
- Maintaining Tullow's strong culture.
In our 2010 Annual Report we have also described the long-term risks which we believe could adversely impact our employees, operations, assets and performance. We have identified four specific long-term corporate responsibility risks:
- Loss of key staff and succession planning;
- EHS failures and security incidents;
- Political, industry or market changes in our environment negatively impact our ability to grow and manage our business; and
- Key country risks
Governance, corporate responsibility and risk framework
Risk management is the overall responsibility of the Board. Each Executive Director has a defined responsibility and accountability for a specific aspect of the Group's key risks. The Audit Committee also plays an important role.
12 members
Five Executive Directors
Seven Non-executive Directors
including Chairman and Senior
Independent Director
Audit Committee
Nominations Committee
Remuneration Committee
Aidan Heavey
Chief Executive Officer
External Affairs, Stakeholder Engagement, Social Enterprise, Education and Enterprise Development Fund
Graham Martin
General Counsel and Company Secretary
People and Localisation, Governance, Ethics, Compliance
Paul McDade
Chief Operating Officer
Environment, Health and Safety, Crisis Management
Angus McCoss
Exploration Director
Information Systems Management
Ian Springett
Chief Financial Officer
Sustainable Supply Chain and Local Content, Investor Relations
This committee is responsible for the day-to-day running of the business, the annual business plan and effective ongoing risk management
