press release



HOUSTON, May 19 -- Edward S. Verona has been appointed General Director of Texaco's operations in Kazakhstan, it was announced today by Robert A. Solberg, Texaco's President of Commercial Development. The appointment is effective May 1, 1999.

In this assignment, Verona will relocate to Texaco's office in Almaty, Kazakhstan, where he will coordinate the company's exploration and production interests, including Texaco's participation in the North Buzachi and Karachaganak Projects, and oversee the company's gasoline retail activities in Almaty and Astana. In addition to these responsibilities, Verona will assist in advancing Texaco's other upstream business interests in the Caspian Region through the development of relationships and contacts within the oil and government sectors in the region. Vernona succeeds Jack P. Kwesell, who is retiring after 32 years of service with Texaco.

"Ed's familiarity with the oil and gas industry in the former Soviet Union and his understanding of the region's complex political and economic environment give him a unique insight into events affecting our industry," said Solberg. "His background in international affairs and his previous experience in the energy sector make him an ideal candidate for this position."

Verona received a bachelor of arts degree in 1979 from the University of Arizona and a masters degree in international management in 1987 from the American Graduate School of International Management (Thunderbird). Verona has spent most of his career abroad or in assignments related to international operations. Prior to joining Texaco, he worked in Bolivia, Ecuador and Miami for mining and petroleum equipment manufacturer Ingersoll-Rand, and in New York City for Shell Oil.

After joining the Foreign Service in 1989, Verona served as an Economic Officer at U.S. embassies in Mexico City, Brasilia, and Moscow. In 1996 he was appointed Executive Director of the Moscow-based Petroleum Advisory Forum, a trade association representing foreign oil and gas companies active in Russia. In that capacity he was actively involved in efforts to improve the investment climate in that country by encouraging the adoption of favorable legislation and regulations. He joined Texaco in 1998 in his present position of General Director of Texaco Petroleum Development Company responsible for operations in Russia.

Richard Freeman, President of Timan Pechora Company, located in Moscow, will assume Ed Verona's responsibilities for the Texaco Petroleum Development Company.

Updated: May 1999