YUKOS to start reengineering its business processes

In 2003, YUKOS will implement a comprehensive project on business process reengineering in order to enhance the efficiency of operating activity of the company's affiliates and divisions. The project seeks, among other things, to reduce the costs of the company's core business processes including labor costs, materials cost and overhead costs, as well as to cut administrative downtimes and optimize interactions between YUKOS's oil production and service subdivisions.

The project is run by Aksion Consulting, a division within CentreInvest Group, a Russian consulting firm.

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