A working meeting between Alexey Miller, Gazprom’s Management Committee Chairman and Lord Browne, BP’s President, was held today at Gazprom’s Headquarters.

The meeting addressed issues of bilateral cooperation on the global energy market as well as deliberated on the Kovytkinskoye field development.

The parties also achieved an accord to launch the talks on interaction between Gazprom and BP’s working groups and summarize their operating results at the next meeting to be held in autumn, this year.

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The BP company is currently the world’s second-largest privately run oil and gas business as for its market capitalization (USD 182 billion, as of December 2003) and hydrocarbon reserves. BP’s major business lines are oil and gas exploration and production, wholesale and retail trading in petroleum refined products, gas marketing and gas power generation, petrochemistry. BP is a leader in the global LNG business.

The company has branches in more than 100 countries of the world. BP recovers a total of 4 million barrels of oil equivalent per day and some 85 bcm of gas per annum. In 2003, the company provided its customers with 220 bcm of gas.

BP holds a 50% stake in TNK-BP (Russia) and is a business partner of Rosneft in implementing the Sakhalin-5 Project. BP is one of the largest investors in China.

DIVISION OF RELATIONS WITH MASS MEDIA