Chevron Texaco to Invest $9Bn In Sakhalin-2

Chevron Texaco, the second-largest US oil producer, may invest up to $9 billion in the Sakhalin-2 oil development project in Russia's Far East if estimated reserves are satisfactory.

The US company is also ready to consider other projects in the Russian oil and gas sector. O'Reilly noted that the company was "satisfied with its projects' performance" in Russia, including the Caspian Pipeline Consortium (CPC). O'Reilly said that Chevron Texaco wants to continue developing the CPC and plans to put "serious" money into the project next year, the Russia Journal reported. ©

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