Tullow Petroleum Agreement

  Date Saturday, December 19th, 2020

In addition, we require our suppliers to comply with the code of conduct and our contractual agreements contain ethics and compliance clauses that cover these requirements. Before working with suppliers, we conduct risk-based due diligence on ethical issues, including anti-corruption and corruption, trade sanctions and restrictions, as well as human rights and labour rights. The negotiations will be the first major test for Kenya`s oil and energy bills in 2019, as well as the authority and capacity of the energy regulator, according to Edward Hobey-Hamsher, senior analyst at Verisk Maplecroft`s Africa Risk Insights Team. Tullow expects an agreement with the Kenyan government and adds: “The joint venture has spent about $2 billion in Kenya since 2011. We would try to recover a significant portion of those costs, plus development costs, as part of cost coverage. I do not know how long the audit process will last. First, we need a viable project.┬áIn 2019, we participated in the eighth EITI World Conference and supported it and underlined our support for the treaty transparency that EITI will call from 2021. Tullow continues to publish production sharing agreements (PSA) with the agreement of our government partners. “If the two sides can`t agree, the basic scenario that Tullov wants international arbitration is a right enshrined in oil law,” he says.

Total, which did not respond to requests for comment, declined to take its share of The Turkana budget for fiscal year 2020, according to Kenyan media. The French major also threatened to leave Kenya, African intelligence reports, referring to a company letter to Kenya`s oil minister. We support national membership of EITI in the regions in which we operate and strive to play an active role in supporting the national application process, which can take two years or more. In 2019, we contributed to Suriname`s eITI bid by helping to develop the mandate to consult with multiple stakeholders and by deliberating on different aspects of the process. We also support the Ugandan government in its application to join EITI. In Kenya, we are working with the Kenyan police service to manage the security of our sites and have worked with local communities to ensure their support and cooperation, while respecting their concerns and expectations. For private security companies, we have applied VPs and included The requirements of the International Code of Conduct Association in our contracts with service providers. In particular, in 2019, we are working with a local private security company on an innovative model that uses the support of an international security company to develop local capacity to meet international standards. In 2019, we participated in a roundtable discussion at Geneva Peace Week.

The debate focuses on the risks and opportunities of private security in building peace and security.

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