We are committed to three fundamental principles: providing safe and healthy operations, continuous improvement of our environmental performance and respecting the interests of neighbours and other stakeholders. The Talisman Health, Safety and Environmental (HSE) Policy can be viewed on our website.

Health, Safety and Environmental Management Framework

We maintain an integrated health, safety and environmental management framework and processes to promote healthy, safe and environmentally sound behavior and performance. We audit our operations periodically to demonstrate compliance and support continuous improvement.

To achieve our HSE objectives in a structured way, we employ a high-level framework for HSE performance management wherever we have operating control. This framework derives from a basic quality model, driven by key management processes.

Internal guidance documents (standards and plans), programs, activities and service arrangements support the implementation of these management processes. Our regional operations are empowered to organize their HSE programs and systems in ways that are locally meaningful and address their unique risks and priorities.

In 2003, new comprehensive HSE practices and procedures were implemented in Malaysia in parallel with the commissioning of the expanded PM-3 offshore production operations. New practices and procedures include environmental planning requirements, effluent and waste management, chemical handling, a new safe work permitting procedure, confined space entry and isolation practices.

In Canada, Talisman has been recognized as a “Platinum-Level” participant in the CAPP HSE Stewardship Program.

The UK environmental management system (EMS) was independently audited in 2003 to assess its consistency with ISO 14001 requirements. ISO 14001 is an internationally recognized standard that helps organizations of all sizes manage, measure, and audit environmental performance. The audit demonstrated that the UK EMS is consistent with some of the ISO 14001 requirements, but areas for improvement were identified. Talisman (UK) has taken steps to address some of the gaps.

Audits and Due Diligence

We conduct environmental audits periodically at all our operated facilities to assess compliance with Company standards and regulatory requirements and as a basis for continuous improvement.

In 2003, environmental audits were completed at our Inga, Carlyle, Warburg and Grande Prairie facilities in Canada and at all of Talisman (UK) platforms and onshore terminals. All of these audits included external auditors. In 2002, audits were completed at our facilities of Edson, Lac La Biche and Shaunavon in Canada and at all Talisman (UK) platforms and onshore terminals.

Environmental due diligence was completed in support of Talisman’s mid-year acquisition of Vista Midstream Solutions Ltd. in Canada with a focus on environmental liabilities.

HSE and Assurance (HSEA) due diligence was completed in support of the planned acquisition of the Gyda platform in Norway with a focus on facility integrity.