2010 Performance at a Glance

At Talisman, continuous improvement means learning from both our successes and challenges, and using these insights to enhance our performance. In 2010, while we had many noteworthy accomplishments, we also identified some areas to improve on. We:

• Carried out a comprehensive review of our global drilling operations in the aftermath of the BP plc Deepwater Horizon incident and used our findings to apply additional rigour to our design, procedures and safety processes in preparation for our first deepwater well.
• Improved our combined employee and contractor lost-time injury frequency by 18% from 2009, delivering another year of improved performance, however falling short of our 30% target.
• Suffered a fatality when contractor Evaristo Chimpa tragically lost his life on the Pastaza River in northern Peru. We immediately ceased all river operations to undergo a safety review and identified opportunities to improve our river barge operations in all applicable regions.
• Reduced the number of spills greater than a half-barrel by 31% to 109 from 157 in 2009.
• Experienced a spill from a shale gas drilling operation in Bradford County, Pennsylvania, of which approximately 1,700 litres (450 gallons) of diesel were recovered. As a result, we implemented a number of improvements to prevent offsite impacts from our shale gas developments across North America.
• Rolled out 10 Golden Rules for Safe Operations – compliance with these rules is a condition of working at any Talisman site.
• Developed a new global community relations policy (GCRP) to create a consistent, best-practice approach to interacting with, and gaining the support of, local stakeholders.
• Updated our policy on business conduct and ethics (PBCE) to include prohibition of facilitation payments.
• Invested $8.5 million worldwide in community initiatives.
• Launched our first global employee survey to more than 3,000 employees in seven languages and achieved a response rate of 82%.