A regular board session of Tatneft Oil Company held in Kazan

On November 25, at Tatarstan Government House, a regular board session of Tatfent Oil Company chaired by Tatarstan President Rustam Minnikhanov was held.

The meeting reviewed the company’s budget performance for ten months of 2014 and approved budgets for the upcoming December and 2015.

The Board was informed of the main results of the company’s financial and economic activity for the first nine months of the current year. The company produced 19 million 603 thousand tonnes of oil during this period, which is 84.5 thousand tonnes more as compared with the same period last year. The volume of associated petroleum gas produced amounted to 665 million cubic meters, which is 2.4 per cent more than in the same period last year.

It was also reported that Ashalchinsky oil field has produced 170.6 thousand tonnes of super-viscous oil with an average daily oil flow rate of 625 tonnes, with the total volume of super-viscous oil produced since the beginning of development operations amounting to 496 thousand tonnes. Net proceeds from sales of products shipped made 310.4 billion roubles.

According to the results of financial and economic activity, the company received 89.2 billion roubles of profit before tax while net income made 71.7 billion roubles.

The Board also discussed number of other issues related to the company’s activities.