Chevron Texaco top managers meet with Russia's energy minister

Russia's energy minister Igor Yusufov has met with the Board of Directors of the Chevron Texaco corporation and its Chairman and Managing Director David O'Reilly, the ministry's press service said on Friday.

The Russian minister viewed the event as a prelude to the Russian-US energy summit to be held in Houston in early October.

Igor Yusufov stressed that the Russian and US presidents play a major role in promoting Russian-US cooperation in the energy sphere. He reminded those present that it was Vladimir Putin and George W. Bush who announced in May 2002 that the two countries were starting a new energy dialogue.

The minister highly evaluates the activity Chevron Texaco is conducting in Russia, pointing, first of all, to the successful implementation of the Caspian pipeline consortium project.

Yusufov named as a priority task a programme to attract investments, foreign ones as well, in fuel and energy complex of Russia. He also stressed the necessity of creating adequate investment climate.

The minister paid the visitors' attention to economically expedient projects of exploring new oil and gas reserves in Eastern Siberia, Far East, the shelf of northern seas and the Caspian Sea. He stressed that such companies as Chevron Texaco will make it possible to use in Russia advanced technologies and the best world experience while exploring hydrocarbon reserves in difficult conditions.

Yusufov pointed to the importance of the cooperation between Russian and American companies in the projects of producing energy in the third world countries, and, primarily, in the regions bordering on Russia.

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