Rustam Minnikhanov holds regular board meeting of Tatneft Oil Company in Almetyevsk (Tatarstan)

On December 26, Tatarstan President Rustam Minnikhanov chaired a regular board meeting of Tatneft Oil Company in the town of Almetyevsk (Tatarstan).

The Board reviewed the budget execution results for eleven months of 2016 and approved the budget for January and the first quarter of 2017.

The meeting considered the information about new approaches in well construction and workover.

Since 2015, the company has been implementing the strategy of increasing the efficiency of services procurement in the field of well workover and enhanced oil recovery, with the economic effect exceeding 1 billion roubles.

The company has worked out a new scheme of drilling operations, which feature a common approach to planning, engineering design and management of the well construction process, improved work efficiency through the application of best practices and accumulated experience, as well as a competitive environment for service providers.

The Board also considered a number of other issues related to Tatneft’s activities.