Rustam Minnikhanov holds board session of OAO "Tatneft"

On April 28, at a regular board session of OAO "Tatneft", chaired by Tatarstan President Rustam Minnikhanov results of company’s budget execution for three months of 2014 were discussed and the budget for May was approved.

The Board discussed the results of the financial and economic activities of OAO “TATNEFT” for 2013. Last year, the company produced 26.1 million tonnes of crude oil from its fields, with an increase of 102,000 tonnes as compared to 2012. By and large, 266 output wells were put into operation.

During the reporting period, the volume of produced associated petroleum gas amounted to 864.8 million cubic meters, which is 2.5 per cent higher than the last year figure.

The crude oil production volume from the licensed fields of subsidiaries outside Tatarstan in the Russian Federation amounted to 312 thousand tonnes of oil with 18 wells drilled.

During the reporting period, works on introduction of new equipment and technologies in drilling, crude oil production and wells workover operations were continued.

The resource-saving activities are an important area of Tatneft’s operation. The company saved more than 55 thousand tonnes of reference fuel of energy resources under the resource-saving programme last year.

The net income of the company for 2013 amounted to 63.9 billion rubles.

The Board discussed the progress of introduction of new technologies for the development and operation of Tatneft’s fields. The information on the reconstruction progress of the Nizhnekamsk CHP-2 was also presented at the meeting.

The Board was informed of the annual general meeting of shareholders, dividends on Tataneft’s shares and discussed a number of other issues of the company’s activities.