Analysis Of The Board Of Directors For Tullow Oil Company

It is a pleasure to have you all as newly appointed members of the Board of Directors for Tullow Oil company. As a member, you will be required to have an in-depth knowledge on the overall operations of the company, particularly as it relates to governance. 1.1 Who we are Tullow Oil is a multinational and independent oil and gas exploration and production company founded by Aidan Heavey in Tullow, Ireland in 1985. Having no knowledge of the industry and no major backers, Mr. Heavey had amassed  £1.7 million in revenues, operated in 8 countries and had 42 employees by 1986. As of November 2014, Tullow Oil Plc now holds 146 licenses in 22 different countries, 66 producing fields and has a workforce in excess of 2,000 worldwide. Tullow†¦show more content†¦We are already a dominant player in countries such as Ghana Uganda, Kenya, French Guiana and Norway (tullowoil.com, 2014). Tullow Oil spend an immense amount of effort in researching the regions where they could penetrate. They asses a particular region’s viability and risk and drawing up contingency plans. 1.3 Our vision, mission and purpose Tullow Oil’s vision is to be ‘’the leading global independent exploration and production company with a clear and consistent exploration-led growth strategy’’ (tullowoil.com,2014) They are aiming to build a company that has ‘’an unrivalled competitive position’’. One of their mission is creating shared prosperity and improving our socio-economic impacts such as paying local government taxes, creating employment opportunities and engaging with local communities. They also aim to deliver a positive socio-economic impact and legacy and in being transparent and accountable to all of their stakeholders. (tullowoil.com, 2014). They create a rewarding, challenging workplace, providing employment opportunities, help local enterprise development, and managing their business which respects local communities and the impact it has on them. 1.4 How do we add value to wider society Tullow oil adds value to the countries where we operate in various ways. It consists of taxes paid to local governments, employment opportunities for both international and national people,