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  • Glossary

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    Glossary

    A

    AA1000SES

    AccountAbility AA1000 Stakeholder Engagement Standard

    ACET

    Assists African governments to achieve long-term economic growth and transformation www.acetforafrica.org

    B

    boepd

    Barrels of oil equivalent per day

    bopd

    Barrels of oil per day

    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

    km

    kilometres

    KPI

    Key Performance Indicator

    L

    LTI

    Lost Time Injury

    LTIFR

    LTI Frequency Rate measured in LTIs per million hours worked

    M

    MSF

    Multi-stakeholder forum

    N

    NGO

    Non-Governmental Organisation

    NVQ

    National Vocational Qualification

    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

    UN

    United Nations

    UNGC

    United Nations Global Compact

    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

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What we do

We create long-term value by pursuing a consistent strategy that seeks to deliver a balance between exploration, appraisal and development investment, with revenue from production and sources of funding. To do this successfully and sustainably, we must operate responsibly across the business.

Exploration and appraisal

In order to explore we must first be granted a licence by the governments of the countries in which we wish to invest. After extensive analysis, exploration campaigns are planned to try to discover oil and gas fields or, more strategically, open new basins.

When we make a significant discovery, we drill wells to determine the size and quality of the discovery. Appraisal wells are drilled to confirm the size of a new field or to define the extent of a geological play over much larger areas.

Employee working at his computer

Production and development

If appraisal confirms that development of a discovery will be commercially and financially viable, we begin work on a development plan. Development plans involve extensive stakeholder engagement and must consider environmental, social and operational issues. These plans are approved by governments and regulatory authorities. The ultimate aim of successful development is to achieve production in a safe, environmentally conscientious and cost effective way.

Oil rig
2010 Group Africa Rest of the World
* 24 including corporate offices in South Africa and Ireland
Countries* 22 15 7
Licences 94 53 41
Permanent employees 935 506 429
Acreage ('000 sq km) 280 215 65
Exploration and appraisal (E&A) wells 29 28 1
Successful E&A wells 24 23 1
Development wells 95 93 2
Production barrels of oil equivalent per day (boepd) 58,100 39,000 19,100
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