2015 Annual Report

Chairman's statement and CEO review

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Confronting challenges and achieving results

"Tullow has undertaken a major restructuring in 2015, which has been difficult for all involved. I commend the loyalty and resilience of our staff during a very tough year."

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Taking steps to adjust to a new market realitiy

"2015 has proved to be one of the most challenging years in Tullow’s history but, despite industry pressures, we have delivered exceptional operational progress."

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Special feature

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TEN Project special feature: On track

In this annual update of the project’s progress, we highlight key milestones achieved and work remaining as we approach first oil in July - August 2016.

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Operations

Our Chief Operating Officer, Paul McDade, and Exploration Director, Angus McCoss, discuss Tullow’s progress and challenges in 2015 and the Group’s plans for the year ahead. Read more

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Finance & Portfolio management

Focus on driving down costs and capital expenditure to maintain liquidity. Read more

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how we run our business

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Responsible and sustainable operations

Tullow manages non-technical, and above-ground, risks with the same rigour and focus with which it manages the technical challenges of exploring for and producing oil and gas.

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Managing risks and upholding governance

In 2015, Tullow overhauled its risk, assurance and performance management processes to better support the delivery of our strategic objectives.

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Creating a fit for purpose Tullow

We ended 2015 with a new organisational structure that makes us more efficient, providing clearer lines of responsibility and accountability inside the business.

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Creating a positive long-term legacy

As Africa’s leading independent oil company, Tullow has a role to play in creating shared prosperity and leaving a legacy of sustainable social and economic benefits.

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