We completed a year-long review and update of our Policy on Business Conduct and Ethics, including the development of human rights and community relations principles for all Talisman employees and operations.
We confirmed our participation in the United Nations led Global Compact initiative.
We established formal security arrangements in the spirit of the Voluntary Principles on Security and Human Rights with our coventurers in Colombia.
We worked with about 45,000 stakeholders, both individually and on a community-wide basis, across Canada to build awareness of the over 1,000 projects we were involved in.
We developed formalized Aboriginal Relations Guidelines to help direct our relations with aboriginal communities across North America and established an Aboriginal Community Investment Fund.
We established a community development legacy office in Sudan.
We contributed approximately $5.1 million to hundreds of community projects across our global operations.
We contributed over $663,000 to Calgary, Alberta’s United Way thanks to more than $327,000 in employee donations, a corporate match of $327,000 as well as numerous fundraising activities.

Environmental Performance

We received a Certificate of Environmental Clearance in Trinidad with respect to our onshore exploration program.
We began development of a cogeneration facility in Edson, Alberta and a potential offshore windfarm at our Beatrice platform in the North Sea.
We completed environmental audits at our operations at Inga, Carlyle, Warburg and Grande Prairie in Canada and at all of our United Kingdom platforms and onshore terminals.
We improved our Production Carbon Intensity in Canada by 5% from 2001 levels thanks to, among other things, gas conservation projects and reductions in venting.
We decreased the overall concentration of oil in produced water discharged at our North Sea platforms to 20.4 parts per million in 2003.
We achieved Gold Champion-Level Reporter status in the Voluntary Challenge and Registry (VCR) for our most recent submission (2002) to the VCR after two years at the Silver Level.
We treated approximately 10,000 tonnes of contaminated soil that will be used as clean backfill in ongoing remediation projects during our first full year of operation of the Diamond Valley Soil Treatment Facility located near Turner Valley, Alberta.

Economic Performance

• We generated $2.7 billion in cash flow ($21.21/share), which was used to fund $2.2 billion of exploration and development expenditures.
• We paid dividends of $90 million ($0.70/share) to shareholders during the year.