Annual oil production to make 33 million tonnes up to 2030 in Tatarstan

On July 4, speaking at an oil summit in Bugulma region (Tatarstan), Tatarstan President Rustam Minnikhanov said that the first half-year results in the regional oil industry are positive. He noted, in particular, the growth in sales and profits.

According to Rustam Minnikhanov, 16 million 384 thousand tonnes of oil have been produced in the first half of the year in Tatarstan, which is 187 thousand tonnes more compared with the same period a year ago. The performance of Tatarstan oil company "Tatneft" made 12 million 986 thousand tonnes, showing a growth of 50 thousand tonnes. Small companies have increased their production by 85 thousand tonnes, up to 3 million 400 thousand tonnes. The share of small oil companies in the regional oil production amounted to 21 percent.

According to recent reports, in the first half of the year taxes from the regional oil industry in budgets of all levels made 194.5 billion roubles, including 180 billion roubles in the federal budget.

Thanking oil workers for their considerable contribution to the development of the republic, Rustam Minnikhanov said that their main task was the maintenance of the achieved level of oil production under the conditions, when more and more hard-to-recover reserves are involved in the development.

In this regard, he appreciated the new technologies developed by OAO “Tatneft”. Rustam Minnikhanov believes that these technologies should be used by small companies to prevent the declines in production.

Speaking about the proposals made to update the Programme for development Tatarstan fuel and energy complex in 2006-2020, Rustam Minnikhanov said that it is planned to produce 33 million tonnes of oil annually up to 2030 in Tatarstan, expanding production of reserves.

The innovative approach allows oil workers to stay competitive even with deteriorating conditions of oil extraction, Rustam Minnikhanov said. Due to this, Tatneft has increased its oil production by 2 million tonnes per year since 2002, while oil production of small companies went up by 4 million tonnes. Tatarstan President noted that the oil summit became a platform to discuss topical issues of the industry.