Tatarstan small oil companies produced 5 mln 296 thousand tonnes of oil for 9 months

On October 21, at headquarters of PJSC “Tatneft” Oil Company, Tatarstan President Rustam Minnikhanov held a meeting with small oil companies of the republic with the participation of heads of regional ministries and agencies, territorial subdivisions and federal authorities and responsible employees of Tatarstan President’s and Government Administration.

Speaking at the meeting, Rustam Minnikhanov said that regional oil companies have increased their production, however, their revenue is different from last year’s results.

“Oil industry is capital-intensive, and decisions that will now be made by federal authorities might have a negative impact on the activity of oil companies in the future and wellbeing of oil-producing regions. Oil industry workers should organize their work in new conditions, and analyze efficiency of investments,” Rustam Minnikhanov said. He added that the budget will rely on oil industry, especially such a big tax payer as “Tatneft”.

It was reported that for 9 months of 2015, small oil companies of the republic produced 5 mln 296 thousand tonnes of oil which is by 116 tonnes more compared to the same period last year.

Director General of ZAO “Nefteconsortium” Fanis Valiev, who took part in the meeting, informed that in conditions of considerable decline of wells and increase of water cuttings of well production the companies are trying to increase oil production due to focused work on implementation of advanced efficient methods of enhanced oil recovery.