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SIDANCO President Lawrence Smyth and Saratov Oblast Governor Dmitry Ayatskov Sign a Agreement

SIDANCO President Lawrence Smyth and Saratov Oblast Governor Dmitry Ayatskov met in Saratov yesterday.

They discussed the development of SIDANCO’s subsidiaries in the region, including the operation of natural resources, the increase in oil and gas production, the enhancement of the depth of oil refining and the modernization of the gas network in the oblast. At the meeting, the SIDANCO president confirmed the Company’s intention to adhere to the principle of social responsibility by concentrating its efforts to achieve the highest standards in environmental and industrial safety, as well as in implementing social charity programs and projects.

SIDANCO President Lawrence Smyth and Saratov Oblast Governor Dmitry Ayatskov signed an agreement of mutual cooperation for 2003. “This agreement is an advancement in our relations with the oblast government. We expect that cooperation between the Company and the region will be more active and mutually beneficial,” Lawrence Smyth said.

During his visit to the oblast, SIDANCO President Lawrence Smyth announced the beginning of a new program of the Raduga Charity Fund — it will provide scholarships to the best students from a number of Saratov institutes of higher education. In particular, it will award scholarships to the best law students. This project will be implemented with the support of the Saratov Oblast government, represented by Governor Dmitry Ayatskov, and the State Duma’s Legislative Committee, represented by its chairman, Pavel Krasheninnikov.

“SIDANCO expects that these young specialists will come to our refineries in the future,” Lawrence Smyth noted. “We understand that talented and educated young people are needed by the regional economy, and we intend to contribute to the formation of professional personnel reserves in the Saratov Oblast. We are confident that given the Saratov Law School’s traditions, Russia’s other regions will welcome young lawyers from Saratov,” the SIDANCO President underscored.



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