press release

Sam Laidlaw Named ChevronTexaco Executive Vice President, Business Development

SAN RAMON, Calif., May 6, 2003 -- Sam Laidlaw, former chief executive officer of Enterprise Oil plc, has been named ChevronTexaco's new executive vice president, business development, effective May 1, 2003. Laidlaw will report to Dave O'Reilly, ChevronTexaco chairman and chief executive officer, and be responsible for identifying and developing new, large-scale business opportunities throughout the world. He will also serve on the corporation's executive and strategic planning committees.

"Sam Laidlaw brings a wealth of industry and business development experience that will be of tremendous benefit in this newly created position," said O'Reilly. "We are extremely pleased that Sam will be joining us as we accelerate our pursuit of large-scale, worldwide growth opportunities."

"I am delighted to be joining ChevronTexaco, a world-class oil and gas company which I have long admired," said Laidlaw. "This role provided a wonderful opportunity to build significantly on an outstanding portfolio."

From November 2001 to July 2002, Laidlaw was chief executive officer of Enterprise Oil plc, Europe's largest independent oil and gas company. Laidlaw was responsible for revitalizing the company and later saw Enterprise through the 2002 acquisition by Shell. Following the completion of the transaction, Laidlaw was involved in developing a number of oil and gas opportunities through a private company, Neptune Oil & Gas Ltd.

Laidlaw served as president and chief operating officer of Amerada Hess Corp. from 1995 to 2001, and from 1993 to 1995 served as executive vice president and director, responsible for international exploration and production operations. During the 1993 to 1995 time period Laidlaw was responsible for building Amerada Hess' business in the U.K. North Sea.

As president and chief operating officer of Amerada Hess, Laidlaw restructured the asset base to turn the company into a predominately international exploration and production organization rather than a U.S. East Coast-based refining and marketing company. Laidlaw redesigned the organization and business processes to support the change in strategic direction. Also, he was responsible for all of Amerada Hess' exploration and production operations, shipping and human resources.

Laidlaw received a master's degree in 1977 from Cambridge University and was admitted to practice law as a solicitor in 1979. In 1981, Laidlaw obtained a master's degree in business administration from the European business school INSEAD.

He has been active in various industry and civic organizations including serving as president of the United Kingdom Offshore Operators Association; chairman of the Petroleum Science and Technology Institute; a member of the United Kingdom Energy Advisory Panel; a member of the United States/United Kingdom Council of INSEAD; a fellow of the Royal Society of Arts; and a trustee of RAFT, a medical charity for burns and reconstructive surgery.

Laidlaw and his wife, Debbie, have four children and currently live near London. In his new assignment, he will work out of London and San Ramon.

Updated: May 2003