Rustam Minnikhanov held regular session of JSC Tatneft Board

The Tatarstan President, Chairman of JSC Tatneft Board Rustam Minnikhanov held a regular session on October 26.

Outcomes of budget execution by JSC Tatneft for the period of 9 months of 2011 have been discussed and the budget for the current November has been approved at the session.

The Board heard information about works on drilling horizontal hole, implementation of equipment for simultaneous stage development of reservoirs on fields being developed by the Company.

The Board as well debated realization of a project on supporting small and medium-size business by Tatneft.

The project was approved in 2005 and includes the following stages: foundation of small and medium-size enterprises on the basis of developing minor activities within oil and gas production sector; interaction with minor oil companies; establishment of technoparks and assistance to small business via entrepreneurship development Fund.

Thus, major works resulted in creation of more than 100 competitive enterprises with 40 000 employees.

Some other issues of JSC Tatneft activity were considered at the board session.