| Oil and natural gas remain today the primary fuels underpinning continued global economic growth. And today Russia is the world’s second largest oil producer and its largest holder and producer of gas reserves. Russia has also become an increasingly important part of the global energy supply chain, providing fully 40% of global oil production growth between 2001 and 2005.
We also believe Russia has the world’s largest accumulation of hydrocarbon resources and that its yet to find resources represent the world’s largest exploration potential. As the Russian oil and gas sector transitions to higher operational and environmental standards, the roles of technology and advanced petroleum engineering will assume even greater significance in husbanding and producing these resources as efficiently and responsibly as possible. This is true both for Russia’s mature producing regions as well as for its new and developing Greenfield areas.
This year our conference will focus on the fundamental role which technology and know how must play if Russia is to maintain its current vital role in world energy markets and realise its full production and reserves potential.
Bob Dudley, TNK-BP, Executive Committee Chairman | 
