Results of activities of OAO “Tatneft” in the first half of the year reported at Oil Summit 2014

On July 4, Tatarstan President Rustam Minnikhanov handed in state awards of the Russian Federation and Republic of Tatarstan to the most distinguished workers of oil industry of Tatarstan for labour achievements and many years of diligent work. The awarding ceremony was held within the framework of the traditional oil summit 2014.

Director General of OAO “Tatneft” Nail Maganov made a report on results of the company’s activities in the first half of 2014 at a plenary session of the summit. The oil and gas production departments of OAO “Tatneft” produced 12 million 986 thousand tonnes of crude oil in the first half of the current year in accordance with the plan, which is 54 thousand tonnes more compared with the same period of the last year. Moreover, 106.8 thousand tonnes of superviscous oil was produced at Ashalchinskoye field with the total daily production by the end of six months' period reaching 675 tonnes per day.

According to Nail Maganov, the company applies a wide range of advanced technologies in the area of drilling and repair of horizontal wells, downhole splitters, lateral horizontal wells and sidetracks to meet the strategic goal to stabilize oil production. Due to technological innovations the company is able to start production of the previously inaccessible reserves of hydrocarbon raw materials, using the drilled wells stock more efficiently.

Nail Maganov also reported on the results of the implementation of the TANECO project . A major achievement for the company was increasing the primary refining throughput up to 8 million tonnes per year. More than 4 million tonnes of crude oil were processed during the first half of this year. The figure for the entire period of operation amounted to about 21 million tonnes of oil. The processing depth was increased to 74.5 per cent. The volume of processed oil is expected to make to 8.5 million tonnes by the end of the year. Moreover, high-viscosity index oil for making commercial oil for cars and industrial equipment are to be produced. The construction of a deep oil processing plant, which will include catalytic cracking, catalytic reforming, isomerization and delayed coking installations, will be the next stage of the complex development.

Nail Maganov noted that under the current economic conditions the company's management pays particular attention to the improvement of the efficiency of the Tatneft Group activities, growth of labor productivity, application of project and process management methods as well as the "lean production" system.

Director General of ZAO "Neftekonsortsium” Fanis Valeev made a report on the results of regional small oil companies' activities in the first half of 2014.

Consultant to Tatarstan President on the development of oil and gas fields Renat Muslimov told participants of the even about updating the Programme for development Tatarstan fuel and energy complex in 2006-2020 with regard to crude oil exploration and production.

Reports on implementation of new technologies in wells construction, development and introduction of new technologies to enhance crude oil recovery were also made at the summit.

Rustam Minnikhanov addressed participants of the oil forum with closing remarks.