Tatarstan President holds board meeting of Tatneft Oil Company

On November 30, at the Government House of the republic, Tatarstan President Rustam Minnikhanov held a regular board meeting of Tatneft Oil Company, which considered results of the company’s financial and economic activities over a nine-month period this year.

The crude oil output has amounted to 21.4 million tonnes, which is 2.6 per cent higher as compared to the same period last year. A total of 644 new producing and 181 injection wells have been put into operation. The volume of associated petroleum gas produced has totaled 698 million cubic metres.

According to the Russian accounting standards, gross revenues from sales of products shipped during the first nine months of 2017 have made 502.4 billion roubles, with net proceeds (excluding VAT, export duty and excises) and net profit amounting to 417.5 billion roubles and 86.2 billion roubles respectively. The total volume of the Tatneft Group’s investments has amounted to three billion roubles.

The Board also reviewed plans for the crude oil production and geological and engineering activities for 2018 and approved the production programьу, which provided for the production of 28.7 million tonnes of crude oil for the Tatneft Group.

The meeting considered a number of other issues related to the company's activity.