Tatarstan President holds a meeting with chief executives of oil companies

On February 27, Tatarstan President Rustam Minnikhanov held a meeting with chief executives of independent oil companies.

Making a report on results of the activity of small oil companies in 2014, Director General of Neftekonsortsium Oil Company Fanis Valiev said that independent oil companies produced 6 million 863 thousand tonnes of oil, which exceeds the plan by 312 thousand tonnes.

The increased oil production was achieved due to the use of enhanced recovery methods, active implementation of tertiary and hydrodynamic methods, he went on to report.

The independent oil companies continued introducing new technologies. The greatest effect was obtained by drilling multi-branch and horizontal wells with lateral and horizontal kickoffs, using modern technologies to maintain reservoir pressure.

Fanis Valiev also told about plans and objectives of the oil companies for 2015. They are to drill 200 operational and 26 exploration wells and produce 6 million 689 thousand tonnes of oil.

Tatarstan Minister of Finance Radik Gazatullin presented information "On payments to the budget of the Republic of Tatarstan by small oil companies of the Republic of Tatarstan in 2014 and tasks for 2015".

The meeting also considered the results of work in the field of geology and mineral resources made in the republic, results of the activities of the Tatarstan branch of the Central Commission for the development of hydrocarbon deposits and other issues.

Summing up the meeting, Minnikhanov thanked oil workers for their worthy contribution to the economy of the republic, and set a number of specific tasks in the context of the issues discussed.