OREANDA-NEWS. On October 17, 2007 the first meeting of the CPC-R Board of Directors was held, reported the press-centre of CPC-R.

The 22-member Board was elected the day before by an Extraordinary General Shareholders’ Meeting of the Consortium. In addition to other current business, the Board meeting elected Mr. Andrew McGrahan as Board of Directors Chairman. Pursuant to existing laws and the new version of the CPC-R Charter, the Chairman of the Board will remain in office until the next Annual General Shareholders’ Meeting of CPC.

The interests of the CPC Founding Governments are as follows: Russia – 24%, Kazakhstan - 19%, Sultanate of Oman - 7%. Private oil companies participating in the Consortium are Chevron Caspian Pipeline Consortium Company - 15%, LUKARCO B.V. - 12,5%, Rosneft-Shell Caspian Ventures Limited - 7,5%, Mobil Caspian Pipeline Company - 7,5%, Agip International (N.A.) N.V. - 2%, BG Overseas Holding Limited - 2%, Kazakhstan Pipeline Ventures LLC - 1,75% and Oryx Caspian Pipeline LLC - 1,75%.