Rustam Minnikhanov holds regular Board meeting of Tatneft Oil Company

On May 27, Tatarstan President Rustam Minnikhanov chaired a regular Board meeting of Tatneft Oil Company in the town of Almetyevsk.

The meeting reviewed the results of the execution of the company's budget for four months of 2017 and approved the budget for June of the current year, discussed the results of financial and economic activities for the first quarter of the year. 

As was reported the company produced  7 million 125 thousand tonnes of crude oil during the first three months of this year at its own fields. The production of high-viscosity oil amounted to 333,000 tonnes at Ashalchinskoye field. The total volume of high-viscosity ail produced at the field since the beginning of the application of thermal methods made 2,114 thousand tonnes as of March 31, 2017.

The meeting discussed the progress of work on the study of Domanik deposits, which were being tested from 2013 to 2016 at 40 wells as part of the pilot work programme. The Board decided to continue the scientific work aimed at studying the Domanik deposits to involve them in effective development.

The report on the results of the last year's operation of the company, as well as the annual financial statements, distribution of profits based on the results of the fiscal year, results of auditing the company's financial and business activities for 2016 performed by the company's Audit Commission and by PricewaterhouseCoopers Audit was made during the meeting.

The Board also considered a number of other issues related to the company's activities.