Building capacity for our industry
Local content is not just about meeting legislative requirements or ticking a box to demonstrate that we have spent money locally or created the requisite number of jobs; it is also about reducing project times and reducing project costs. It makes good business sense and we have aligned our local content strategy with our business needs. We believe that developing local content is responsible business practice, creates a positive social and economic impact and enhances our bottom line and reputation.
Our local content strategy
We plan to build in-country capacity for the oil and gas industry in three interconnected ways:
- Developing an industry run by nationals through training, knowledge transfer and employment;
- Supporting local businesses to enter the industry’s supply chain, either directly as suppliers to Tullow or through our international supplier relationships; and
- Creating a social enterprise funding and partnership programme for education and enterprise development for our industry.
"We spent $224 million on local content in 2010 and our ambition is to grow this figure substantially. We are developing exciting initiatives in the areas of business support, technical training and sustainable agricultural supplies. We are also looking at ways to improve access to funding so that small to medium size enterprises can form and flourish."
Jim Walsh, Group Local Content Manager