Rustam Minnikhanov holds Board Session of OAO “Tatneft”

On October 1, at Tatarstan Government House, Tatarstan President Rustam Minnikhanov chaired a regular board session of Tatneft Oil Company. The Board discussed the company’s budget performance for eight months of 2014 and approved the budget for October and the fourth quarter of the current year.

The Board was informed about the programme of developing extra-viscous oil fields. Currently, there are 31 pairs and 7 single cyclic-steam stimulation wells at Ashalchinskoye oil field in operation, with a total average daily production exceeding 700 tonnes.

The Board discussed the information about improvement of the reservoir pressure maintenance system. To this end, there is a programme being implemented at the company designed for a period from 2011 to 2015. This programme involves implementation of geological and technical activities, including insulation works to seal the production casing, grouping of wells by reservoir properties in order to create optimal conditions for fields' development, operational reliability improvement of discharge water supply conduit sections, installation of individual booster pumps at wellheads and introduction of the inter-well pumping technology.

The issues of the company's tire production development were discussed and the effectiveness of the financial and economic activities of the company's subsidiaries and affiliates was assessed at the meeting.

The Board also considered a number of other issues of the company's activities.