Tullow Oil Guyana- 2030 Net Zero Commitment

Tullow’s 2030 neT zero commiTmenT

Tullow Oil plc is an independent international Oil & Gas Explorer and Producer operating across Africa and South America.

Founded in 1985, the Group has interests in over 50 exploration and production licences across 11 countries. It has a balanced portfolio of exploration, development and production assets. Headquartered in London, Tullow’s shares are listed on the London, Irish and Ghana Stock Exchanges. At Tullow, finding, developing and producing the natural resources of a country presents a unique opportunity to create jobs, develop capacity in parts of the national workforce, create local business opportunities and encourage foreign direct investment through international supply chains when exploration success can be developed to the production stage of the Oil and Gas life cycle.

Currently, most of Tullow’s production comes from the Jubilee and TEN fields in Ghana that Tullow discovered and brought on stream respectively in 2010 and 2016. In April 2021, Tullow began a new multi-year, multi-well near field development and exploration drilling campaign in Ghana.

In Guyana, Tullow has been active since 2008, holding 37.5% in the non-operated Kanuku licence and 60% in the Tullow operated Orinduik licence. Following two heavy oil discoveries in the Orinduik Block made in 2019, ongoing exploration activities consist of multiple highly technical geoscience workstreams to support portfolio maturation. Tullow continued to engage suppliers of key services to as to build a database of the progression of the availability of goods and services and to maintain a sound in-country capabilities assessment up to date. The company has maintained a core-team in-country presence which is serviced by goods and services provided by local suppliers and Guyanese workforce.

Q: Tullow has committed to becoming a net zero company by 2030. How do you plan to achieve this? Tullow has committed to being net zero by 2030 for its Scope 1 and 2 emissions, which are those emissions generated directly through its operations and also from its purchased electricity. The company aims to achieve this through a combination of decarbonising our operated assets in Ghana and through a nature-based carbon removal programme to offset our hard to abate emissions from power generation. Tullow’s current focus is to work on getting the carbon intensity of its operations in line with International Oil and Gas Producers (IOGP) industry averages or lower, at the latest by 2025 through its commitment to eliminate all routine flaring and by installing/executing several net positive cash flow carbon abatement projects on its Ghana assets.

Tullow’s sustainability framework has four pillars – safe operations, shared prosperity, environmental stewardship and equality and transparency - which combine all these inputs and expectations.

Tullow’s 2030 neT zero commiTmenT

Q: Tullow is still at the exploration stage in Guyana. How have you begun to deliver sustainability within the Guyanese community?

Tullow regularly engages with stakeholders in Guyana on our activities and has also partnered with companies in Guyana to deliver local projects, and most recently projects supporting continued access to education during the pandemic. It is a corporate sponsor of STEM Guyana and is supporting the establishment of learning pods, the production of a STEM focused TV series ‘Robin the Robot’ and the ‘Parents learn then teach’ programme. The company is also a local partner to the MatPal institute and has assisted Matpal with purchasing equipment to enhance marine safety training capabilities and the development of the institute. This partnership is particularly important as it supports building local capacity for the marine and oil and gas sector.

Tullow is committed to delivering shared prosperity and mitigating impacts including climate change and is closely aligned with Guyana’s green economy goals. In this regard, Tullow is supportive of a mangrove restoration project along 0.5 km of coastline identified by the National Agricultural Research and Extension Institute spanning from Colombia to the village of Aberdeen in Region 2. The project aims to plant 15,000 spartina grass sprouts to rehabilitate the area before settling 20,000 black mangrove seedlings into the area. This work is being done in parallel with raising awareness amongst the local communities on the importance of protecting the mangroves. This project aims to enable a better understanding of some of the challenges associated with small scale reforestation, but more importantly it will provide a direct benefit to communities by building coastal resilience, with the ultimate objective of protecting the rich and diverse ecosystems which are essential for local livelihoods.

Tullow Guyana is also a member of the Georgetown Chamber of Commerce and Industry and is committed to operating sustainably in all aspects of the business.

Contact Information 176 Middle Street, South Cummingsburg, Georgetown, Guyana Email address: eon.stephens@tullowoil.com; Website: www.tullowoil.com