Rustam Minnikhanov holds regular session of OAO Tatneft Board of directors

A regular session of OAO Tatneft Board of directors chaired by the Tatarstan President Rustam was held at the RT Government House today. Results of budget performance by the company for eight months of 2012 have been considered, budgets for October and the fourth quarter of the current year approved, and forecasts of financial and economic activity of the company for 2013 discussed.

Board of directors heard information about realization of construction of the integrated hydrocracking unit at TANECO, technological efficiency of drilling new wells and development of horizontal drilling at the company’s fields.

During the last ten years, a wide range of new well pumping technologies have been used at OAO Tatneft. These technologies are widely applied at newly drilling wells and upon restoration of old ones.

Applied technologies are constantly analyzed, new advanced technologies are adopted.

Gathered experience has proved economic efficiency of drilling wells with horizontal holes. Executive directors were required to continue working in this area.

Some other issues concerning activity of OAO Tatneft have also been considered at the session.