We aim to repeat the success of our business model in Russia and Venezuela by identifying, accessing and integrating additional large resources of hydrocarbons to exploit them for value and diversify our portfolio.
Diversification
The events in Venezuela clearly demonstrate that one of the key elements to the success of an internationally focused upstream strategy is diversification. Especially when a portfolio carries significant geopolitical risk. A key to weathering future geopolitical storms will be to create a quality portfolio with adequate diversity of political risk. We continue to believe that the truly transformational growth opportunities lie in countries that some deem "challenging," and we continue to focus our growth efforts on those countries. In 2005, we broadened our growth focus to include selected countries in the Confederation of Independent States, Asia, the Middle East and Northern Africa.
