Rustam Minnikhanov chairs session of JSC “Tatneft” Directors Board

RT President, chairman of JSC “Tatneft” Directors Board Rustam Minnikhanov held session of JSC “Tatneft” Directors Board. It was held in a House of RT Government.

The session’s agenda summed up budget performance of the company in January and February. The budget for April and the second quarter of 2010 has been approved, results of financial and economic activity of JSC “Tatneft” for 2009 and realization of anti-crisis program have been discussed.

Thus, in 2009 25 mln. 850,4 thousand tones of oil were recovered at the company’s oilfields. 280 operating oil wells have been commissioned, oil production has made 422,6 thousand tones.

For the reported period 23 new wells have been drilled on territories of Russian Federation beyond Tatarstan.

Oil deposit has been found in Syria, 4 test wells drilled. 2 test wells have also been drilled in Libya.

Total volume of investments by group of companies “Tatneft” taking into account construction of oil-refining and petrochemical plants Complex “TANEKO” has made 104,3 bln. roubles.

While the country’s economy is recovering from crisis, JSC “Tatneft” continues working to increase efficiency of production and optimization of exploitation expenses.

Information about adoption of new technologies of development and exploitation of deposits by JSC “Tatneft” has been presented at the session.

The goals of stabilization and raising oil production determine a key strategy of JSC “Tatneft” – adoption of advanced technologies in the whole oil production cycle. It implies the system of development, drilling, exploitation of oil deposits, major repairs of wells, methods of increasing oil extraction.