Rustam Minnikhanov: Oil production is not resource dependence but resource advantage

The Tatarstan President Rustam Minnikhanov highly appreciated activity of JSC Tatneft at the annual shareholders meeting of the company in accordance with results of 2011. “Today the company creates new activities and diversifies its work besides doing its main business, - oil production,” Rustam Minnikhanov said. He also emphasized innovative activity of the company.

“I am sure that the company has long-term prospects. Five or six years ago Tatneft started exploring Canada experience and adopted new technologies.
Today Ashalchinskoe field produces 200 thousand tons of oil per day. Acquiring of such wide experience would be impossible without highly skilled staff and science. You must continue working in this area,” Rustam Minnikhanov said.

The RT President considers the decision regarding diversification of the company’s business to be right. He noted that JSC Tatneft has the most advanced oil-processing plant now.

“Completion of first construction stage of JSC TANECO is a great achievement, the project will be realized by 2016,” Rustam Minnikhanov said. Tatneft managed to create the advanced tire complex, he added.

Saying about prospects of republic’s development, the Tatarstan President appreciated enormous contribution of JSC Tatneft in economic diversification and thanked the company’s personnel and chiefs of municipalities where oil is produced.