press release

Texaco Press Release - Frank C. Ingriselli Appointed Assistant to Management for Texaco

FOR RELEASE: MONDAY, JULY 13, 1998.

WHITE PLAINS, N.Y., July 13 - Frank C. Ingriselli has been appointed Assistant to Management in the office of Texaco Inc. Senior Vice President, Corporate Development, William M. Wicker, effective September 1, 1998. Ingriselli currently serves as President and Chief Executive Officer of the Timan Pechora Company LLC, an affiliate joint venture company of Texaco, headquartered in Houston, Texas.

In making the announcement, Wicker said, "Frank Ingriselli's leadership skills and extensive experience in the development of high impact international projects will be a great asset to the Corporate Development management team."

Ingriselli, 44, was graduated from Boston University in 1975 with a bachelor of science degree in business administration. He earned an MBA from New York University in finance and international finance in 1977, and a juris doctorate degree from Fordham University School of Law in 1979. Ingriselli joined Texaco later that year as a member of the negotiations and contracts group in the Producing - Eastern Hemisphere Department.

Following several assignments with increasing responsibility in the Middle East/Far East Division and the Texaco International Exploration Company, Ingriselli was appointed to direct Texaco's Western Siberia Initiative in Russia in 1992. He was named Manager of Upstream Business Development for the Europe Division in 1993, with primary responsibility for identifying new business opportunities in the former Soviet Union.

In 1994, Ingriselli led a team that reviewed Texaco's international marine requirements, which led to the formation of a strategic alliance with Stena, a Swedish marine transportation company. Ingriselli was appointed Manager of Texaco's Gorgon/Chrysaor liquefied natural gas project offshore northwest Australia in 1995. He was named to his current position in 1996. Ingriselli serves on the Board of the Eurasia Foundation.

Ingriselli will relocate to Texaco's headquarters in White Plains, N.Y.

Updated: July 1998