Our Strategy
To be the leading global exploration and production company and to deliver at least 20%TSR each year.
LONG-TERM PERSPECTIVE
Tullow invests for the long-term in assets and markets where our skills and focus can make a difference. We concentrate on growing production, replacing reserves and a variety of development opportunities in core plays, seeking assets where modern technology, attention to detail and a rigorous commercial approach can add significant value.
CONSISTENT STRATEGY
Tullow has a consistent growth strategy. We work hard to exploit and expand our current reserve base. We combine development and near infrastructure exploration with high impact, higher risk exploration. We make selective acquisitions to complement our existing asset base and we drive our performance with operational innovation and active portfolio management.
BALANCED PORTFOLIO
Tullow's key objective is to maintain consistent growth over the long-term and, as a consequence, is diverse by design. The spread and balance of our business and assets limits our exposure, volatility and risk in any single asset or territory, and also allows us to put in place financing facilities that would not be available for a single-asset or single-region company. Our business is balanced between oil and gas production in four distinct core areas, and across over 100 licences and 40 producing fields. The exploration programme balances relatively low-risk opportunities with high impact frontier projects in developing regions.
FINANCIAL STRENGTH
During 2007, Tullow’s business reached a new level of scale in terms of production, operating cash flow, market value and future growth potential. Our financial strategy is to maintain financial flexibility to support the Group’s significant appraisal and development programmes in Ghana and Uganda and effectively allocate capital across the remainder of our business.
GREAT PEOPLE
We have built not just a great business, but also a great team and our portfolio of quality assets are managed by people with excellent technical, commercial and financial skills. Our strong reputation and reward and recognition policies enable us to recruit and retain top people and, throughout Tullow we have many opportunities and programmes for the development of internal talent. At a time when our sector is increasingly resource constrained, the Group is well placed for the future with over 150 people in an operational or technical capacity.
RESPONSIBLE, AWARE, COMMITTED
Tullow has a genuine commitment to its environmental and social
responsibilities. We are dedicated to constant vigilance,
responsiveness and compliance with the most rigorous environmental
standards. We support everyday life within communities and respect
natural and cultural heritage. We make contributions to health care
programmes, assist in providing local water supplies and
participate in numerous charitable and educational projects in all
our areas
of operation.
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