Results of first half of 2013 summarized at Tatneft Board session

On August 29 Tatarstan President Rustam Minnikhanov held a board session of OAO Tatneft on results of budget performance for seven months of 2013, approval of a budget for September, and results of financial and economic activity.

12,932 mln tons of oil were produced t company’s oil fields for the reporting period. Production of associated gas made 426 mln cubic metres. 127 new wells were put into operation. 158,4 thousand tons of oil were produced at licensed areas outside Tatarstan. Gross proceeds from sales made 270 bln rubles, net proceeds – 168 bln rubles.

37 bln rubles of profit were gained by results of financial and economic activity. Net profit made 29,1 bln rubles. Total sum of payments in all budgets made 153,6 bln rubles. Total amount of investments accounted for 38,7 bln rubles.

Information about implementation and development of TANECO project was presented at the session. Construction of Integrated Hydrocracking Unit is nearly finished. A special service that will coordinate design and construction of TANECO objects is being established to increase efficiency of work in the sphere of project management.