OREANDA-NEWS. February 11, 2007. CPC-R Board of Directors meeting and General Shareholders’ meeting of CPC-K took place in Moscow. The meetings were held in a constructive business-like atmosphere, reported the press-centre of CPC-R.

A number of resolutions required to ensure safe pipeline operation were taken, various matters pertaining to ongoing financial and business performance of the Company were reviewed. Discussion of certain issues in respect of future expansion of the CPC pipeline system was continued.

The new composition of the Company’s Board of Directors was elected by General Shareholders’ meeting of CPC-K.

Both Companies’ Annual General Shareholders’ meetings will be held in May 2008.

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%.