Rustam Minnikhanov holds board meeting of Tatneft Oil Company

27.11.2018

On November 27, at the Government House of the republic, Tatarstan President Rustam Minnikhanov chaired a regular board meeting of Tatneft Oil Company, to sum up the results of the company's financial and economic activities for nine months of the current year.

The oil output has amounted to 21,538 million tonnes, which is 0,6 per cent higher as compared to the same period last year. As many as 328 new production and injection wells have been commissioned. The gathering of associated petroleum gas has amounted to 682 million cubic meters.

According to the Russian accounting standards, gross revenues from sales of products shipped during nine months of the current year have made 649.6 billion roubles, with net proceeds (excluding VAT, export duty and excises) amounted to 586.6 billion roubles and net profit amounting to 162.9 billion roubles.

The Board considered plans for oil production and geological and technical events for 2019. The main volume of additional extraction is planned to be provided by the development of such areas as drilling, hydraulic fracturing and the use of improved recovery. The approved production plans correspond to the Strategy 2030 and could be adjusted if the Russian Federation concludes a new agreement with OPEC countries or its members by the rate of extraction to achieve a balance of supply and demand on the world oil market.

The Board also considered a number of other issues of the company's activities. 


Tatneft Oil Comany's Press Office