Tatneft Board of Directors summarized financial and economic work for 2008

The session of Tatneft Board of Directors chaired by RT Prime minister R.N.Minnikhanov was held in RT Cabinet.The results of Tatneft’s budget implementation for January and February were considered, the budget for April and the second quarter of 2009 got approved.

Thus, 25 mln. 766 thousand tones of oil have been produced in company oilfields. It is 0,1 % more than last year, 366 thousand tones were produced over the plan. During report period 328 operating oil wells were put into operation, oil production from them made 382 thousand tones. 19 oil wells were drilled on the territory outside Tatarstan. Production volume has reached 294 thousand tones; it is 50 % more than last year.

Gross proceeds from sale of shipped output amounted to 371 bln. roubles, net gross made (without VAT and export dues) – 219 bln. roubles. On results of financial and economic work the profit made 50 bln. roubles before taxation. Total sum of charged taxes and payments to all budget levels made 243,9 bln. roubles (39 % in comparison with last year). 19,4 bln. roubles were transferred to consolidated budget of Tatarstan.

The information on social policy of Tatneft was also presented at the session. The work of the company in this sphere is systemic and is aimed at creating efficient and safe working places, ensuring social security of workers and their families, continuous professional development of personnel and maintenance of favourable social climate in the regions of its activity.