Our vision
To be the leading global exploration and production company and to deliver at least 20% TSR each year.
Our strategy
Tullow has a long-term perspective on developing the business. We plan in advance, execute consistently, review regularly and maintain financial and operational flexibility. We have a clear strategy to deliver sustainable profitable growth into the future, which includes:
- Capital and resource allocation to high value opportunities;
- Maintaining a balanced portfolio of quality assets;
- Targeted production and reserves and resources growth;
- Development growth through new ventures, licensing and acquisitions;
- Organic growth through infill programmes;
- Strong social and community support delivering sustainable development;
- Working safely and minimising impacts on the environment;
- Having a structure with open dialogue across the Group; and
- Ongoing investment in people and organisational structure.
Balancing our risks
Maintaining our growth will bring with it new challenges and risks, which we recognise are an everyday part of doing business. To continue to prosper, Tullow is required on an ongoing basis to identify, manage and mitigate a wide range of strategic, operational, financial and external risks.
Many of these risks are addressed through the application of Tullow’s strategy. However, external risks such as those arising from the actions of our competitors, the volatile nature of oil and gas pricing and the diverse nature and location of operations are not directly controllable.
Wherever possible we seek to mitigate our exposure to these risks through a clear framework of management and communications that incorporates financial, production and exploration management, the three key strategic pillars of the Group.
This year we have outlined in more detail the risks that Tullow faces and what we do to manage and mitigate these in the Risk factors.
