Rustam Minnikhanov: Tatneft is justifiably number one company in Tatarstan

On June 26, in Almetyevsk, speaking at an annual meeting of Tatneft oil company shareholders Interim President of the Republic of Tatarstan Rustam Minnikhanov said that Tatneft is justifiably number one company in Tatarstan.

According to Minnikhanov, last year was one of the most difficult over past six years. But despite seriousness of new challenges for the oil industry, Tatneft has successfully completed the production programme, its financial and economic indicators exceeded the level planned, he added. “Summary financial and economic indicators exceeded the planned level, with more than 26.5 million tonnes of oil produced. Due to the development and implementation of new technologies Tatneft has provided a positive dynamics of oil production for 20 years. The company strives for growing production of extra-viscous oil, with Ashalchinskoye field increased its production by 60 per cent for one year. Today, the daily volume of crude bitumen oil exceeded 1,050 tonnes,” he said.

The company keeps up with the previously selected strategy in the construction of the TANECO complex, giving priority to the Russian equipment manufacturers, Rustam Minnikhanov said. Thanks to the TANECO project Tatneft oil company emerged as a modern engineering company.

In 2014, Tatneft has successfully solved the problem of further development of tire production, upgrading generating capacities, improving the efficiency of oil production, Minnikhanov emphasized.

Economic stability of Tatarstan, positive growth rates were ensured largely thanks to stable operation of the company, he continued. According to him, the GRP in 2014 increased by 1.3 per cent and amounted to 1,631 billion roubles, volume of investments is estimated at 542 billion roubles.

Minnikhanov noted that speaking at the St. Petersburg Economic Forum, Russian President Vladimir Putin said that despite a number of restrictions imposed against our country in terms of access to international capital and technology markets, the fall in prices for the main export commodities the economic situation in the country has stabilized.

"The task of the Tatneft company in the coming years is to maintain and expand the positions of oil production and refining. The only direction of the stabilization of oil production, the increment of the resource base of Tatarstan is further fulfilling of the potential of hard-to-recover reserves,” Minnikhaov summed up.