President of Tatarstan Rustam Minnikhanov holds session of JSC “Tatneft” directors board

Regular session of JSC “Tatneft” directors board headed by RT President – chairman of directors board Rustam Minnikhanov was held in Kazan. Implementation of company’s budget for the period of four months 2010 was discussed at the meeting. Likewise, budget for June 2010 was approved.

By results of financial-economic activity of JSC “Tatneft” 6 mln. 377 thousand tones of oil have been produced by the company in the first quarter of 2010. 76 new producing wells have been commissioned, production has made 16,7 thousand tones of oil.

Proceeds from crude oil sales net of VAT and export duty has made 59,4 bln. roubles.

Directors board discussed process of realizing investment projects of the company in special economic zone “Alabuga”.

Participants of the session also discussed information on works carried out by JSC “Tatneft” outside Tatarstan in Russian Federation. Particularly, in Samara, Orenburg, Ulianovsk oblast, Republic of Kalmykia, Nenets Autonomous District.

As a result of geological exploration works 11 oilfields were discovered outside Tatarstan. Outside Russia geological exploration works are underway in Syria and Libya