Integrity is not just a value at Nexen - it's a way of life. Employees are educated to make ethical business decisions and are encouraged to ask questions about the integrity of a decision or course of action. Operating with integrity not only improves our reputation and helps our performance; we believe it's the best way to successfully do business.

Nexen has a history of operating with integrity and has had formal programs in place since the 1990's. One of our major achievements was helping develop the International Code of Ethics for Canadian Business which, along with our company policies, provides guidelines for ethical business practices.

Of course, a culture of integrity is not defined by formal documents, but by the actions of our people. At Nexen, we believe in the ethical capacity of our employees. Rather than give our workforce a book of rules to follow, we set expectations and provide employees with a variety of resources to help them make ethically responsible decisions.

As we move forward into the future, I am confident that our shared commitment to integrity will help us meet our common goal of increasing long-term shareholder value. It helps us attract and retain excellent employees, secure the capital we need to expand and ensure that we are welcome in the communities in which we operate.

In most cases, operating with integrity is common sense. Where the appropriate action is not clear, I encourage employees to use the resources we've established through our Integrity Program.