DEVELOPINGO PPORTUNITIES IN EUROPE, SOUTH AMERICA & ASIAwww.tullowoil.com43

44Tullow Oil plc 2011/2012 Corporate Responsibility ReportUNITED KINGDOMIn 2000, Tullow entered the UK offshore, with the acquisition of a significant number of Southern North Sea gas assets. The Group's strategy for the UK is to offset natural decline and prolong the life of these mature fields. The non-operated Katy development (block 44/19b) is on track for first gas in December 2012.The Europe Business Unit operates in Organisation for Economic Co-Operation and Development (OECD) countries. Social investment may seem less relevant here than in the developing countries where Tullow Oil has interests, however, a strong NGO sector is spearheading socio-economic and environmental initiatives in these countries, supported by public and private sources of capital. Funding for these can be limited, especially in times of recession, and Tullow is looking at meaningful ways to invest and build partnerships. Our aim is to demonstrate our commitment to societies, build capability and develop our relationships with host country stakeholders. Other benefits to Tullow include developing our understanding of each country, supporting our commercial objectives and strengthening the Tullow brand.FRENCH GUIANA In September 2011, the first exploration well offshore French Guiana encountered oil, establishing a new basin and proving that the Jubilee play is mirrored across the Atlantic from West Africa to South America. At the time of the discovery Tullow was operator of the Guyane Maritime licence - since then operatorship has transferred to a joint venture partner.This map gives an overview of our activities in the Europe, South America & Asia (ESA&A) region. In addition, Tullow has qualified as an operator on the Norwegian Continental Shelf and we are actively looking at investment opportunities as a first step in the Group's strategy in the North Atlantic. In April 2012, Tullow was awarded Block 15 in the offshore Uruguay licensing round. The block is 8,030 sq km and Tullow has committed to shoot a 300 sq km 3D seismic survey.In March 2012, we announced our intention to divest our assets in Asia in order to focus on our core African and Atlantic Margin strategy. Across the ESA&A portfolio, the mix of operated and non-operated, mature and more recent assets creates a wide variety in the scope of our corporate responsibility activities.SevenCountries154 Employees47Licences57,793 SQ KMLicence acreage120.8 MMBOEReserves & resources 20,800 BOEPDWorking interest production$360 MILLION2011 sales revenue, 16% of Group total$390 MILLION2012 forecast capital expenditure NETHERLANDS In 2011, we expanded our Dutch portfolio with a $432 million acquisition of a non-operated portfolio of gas producing fields, a range of exploration opportunities and an equity interest in infrastructure. We think offshore the Netherlands is an area of great exploration potential and our experience in the North Sea provides a strong platform for expansion. In 2012, we will drill our first operated exploration well in the Netherlands and we have begun to identify potential partners for social investment and environmental initiatives.DEVELOPING OPPORTUNITIESThis portfolio contains key producing assets and a number of exciting exploration opportunities. We have gas production assets in Asia, the UK and the Netherlands, significant exploration acreage in South America and discovered oil offshore French Guiana in September 2011.2011 drilling activity Offshore OnshoreE ExplorationD DevelopmentP Production Key officeKeyKey producing assetCompliance training and forums Community Liaison team in-countryEHS data reportedTullow employees (2011)Local content expenditure reportedEurope, South America & Asia