MOSCOW, April 4, 2006 -- Chevron Corporation and the Russian Academy of Sciences (RAS) today announced they have signed a scientific and technological cooperation agreement. Representatives of the two organizations will now form a committee to work together on identifying and executing projects of a mutual interest.

Dave O'Reilly, Chevron's Chairman and CEO, commented on the agreement: "We hold the professionalism of Russian scientists in high regard and will strive for significant achievements in the areas of mutual interest, including state-of-the-art refinery technologies and new applications of alternative sources of energy."

Nikolay Laverov, RAS vice president, noted, "Russian scientists attach vital importance to the use of Chevron's expertise in solving challenging energy issues. Particularly appealing would be innovation management processes and fundamental solutions applicable to complex and most extensive use of hydrocarbon resources."

Chevron and the Russian Academy of Sciences expressed their willingness to exchange information of mutual interest and discuss new trends in scientific research and state-of-the-art technologies with a primary focus on those having applied relevance to the oil industry.

Chevron Corporation is one of the world's leading energy companies. With more than 53,000 employees, Chevron subsidiaries conduct business in approximately 180 countries around the world, producing and transporting crude oil and natural gas, and refining, marketing and distributing fuels and other energy products. Chevron is based in San Ramon, Calif. More information on Chevron is available at www.chevron.com.