Tullow demonstrates commitment to Uganda through first country report

Tullow has successfully demonstrated their commitment to Uganda through the first country report.

The report provides information on how Tullow has:

• led an exceptional exploration programme in Uganda’s Lake Albert Rift Basin, achieving an 84% success rate since 2004, with 66 wells out of 79 finding oil
• discovered 1.7bn barrels of oil and has established Uganda as an important oil nation
• invested $2.8 billion to date in exploring for oil in Uganda
• paid $142 million in taxes to the Ugandan Government in 2012
• spent over $200 million with 550 local Ugandan suppliers to date
• invested over $12 million in social projects to date
• a workforce that is 88% Ugandan including our General Manager and over half of the country leadership team
• shown integrity in all our dealings with the government and other stakeholders, upholding at all times our zero tolerance to bribery and corruption

JIMMY MUGERWA, GENERAL MANAGER OF TULLOW OIL UGANDA COMMENTED:

“Uganda’s time has come, and it currently has a first mover advantage in East Africa to compete for the investment and technical expertise that will be required to develop the region, which is fast becoming a prominent potential player in the world’s energy market.  Decisive action is now required in order to maintain that advantage.”

AIDAN HEAVEY, CEO OF TULLOW OIL COMMENTED: 

“It’s almost a decade since we first risked our capital and invested in finding oil in the Lake Albert Rift Basin. We are proud of our achievements over those 10 years and wanted to document them in this report. We remain committed to investing in the long-term development of Uganda’s oil industry and to creating shared prosperity for the people of Uganda.”