Rustam Minnikhanov holds a regular board meeting of Tatneft Oil Company

On March 23, at the Government House of the republic, Tatarstan President Rustam Minnikhanov held a regular board meeting of Tatneft Oil Company.

The meeting considered results of the budget execution for two months of 2019 and approved the budget for April and the second quarter of the current year.

The meeting participants discussed the company's development strategy in external regions. An increase in reserves outside Tatarstan is expected to make 3.8 million tonnes of crude oil during the current year, while an increase in reserves will total 35.8 million tonnes.

It was noted at the meeting that work in the Nenets Autonomous District, where trial operation of 11 wells will be carried out in 2019, has good prospects. The expected annual volume of crude oil production in the region will amount to 1.5 million tonnes in 2025.

Moreover, work is underway to prepare the Savitsky and Zhuravlevsky license areas of the Orenburg region for the geological exploration and the development of Domanic deposits.

In 2019, work was resumed to increase crude oil recovery and well repair at the Goturdepe field in Turkmenistan. At the moment, negotiations are underway on the company's participation in joint projects in Kazakhstan, Uzbekistan and Iraq.

In general, the Board mentioned the important role of external projects in increasing the value of the company in accordance with the Strategy 2030 and in stabilizing crude oil production until 2050.