press release

Chevron Press Release - Successful International Investment Summit In Almaty Concludes

SAN FRANCISCO, June 6, 1997 -- Chevron Corp. today congratulated the Republic of Kazakhstan on the success of its International Investment Summit held in Almaty on June 5-6.

The summit began with keynote addresses by President Nursultan Nazarbaev, First Deputy Prime Minister and Chairman of the State Committee on Investments Akhmetzhan Yesimov, and Chevron's Chairman Ken Derr. Participants from Kazakhstan included Prime Minister Akezhan Kazhegeldin, various ministers, local government officials and business leaders. More than 70 senior executives representing 45 companies from 18 countries including Asia, Europe and North and South America attended the summit.

"Chevron was interested in helping the Government promote foreign investment in the Kazakhstan economy beyond the oil and gas sector," said Derr. Potential foreign investors had the opportunity to hear about the vast opportunities available in Kazakhstan and to engage in a constructive dialogue on the investment conditions that would lead to proper decisions and actions.

"The level of participation is indicative of the strong international interest in Kazakhstan in response to the Government's recent policies to attract additional foreign investment," said Derr. "We hope that we will soon see concrete investment projects coming out of this successful set of meetings."

Chevron, as principal sponsor of the summit, recognized the efforts of the summit organizers, the State Committee on Investments and SRI International, as well as the summit co-sponsor, Citibank, which was represented by its Vice Chairman, Mr. William Rhodes.

Updated: June 1997