The Board of Directors of PJSC «Tatneft» approved the Development Strategy for the period until 2030
Today in the building of the Government of the Republic of Tatarstan the regular meeting of the Board of Directors of PJSC «Tatneft» was held under the chairmanship of the President of the Republic of Tatarstan R.N. Minnikhanov. The meeting considered the results of the implementation of the Company's budget for eight months of 2018 and approved budgets for October and the fourth quarter of this year.
The Board of Directors approved the goals of the Development Strategy of the TATNEFT Group until 2030. The key parameters of the Strategy are: to increase oil production to 38.4 million tons per year by 2030 with a 100% replenishment of reserves, a phased increase in the volume of oil refining to 15.3 million tons per year, while ensuring the greatest economic benefit from the operation of the TANECO complex, 18 million tires a year, the construction of facilities for the first stage of the new gas and petrochemical complex. The successful achievement of business goals in the aggregate will allow in the base scenario based on the economic forecasts of the Government of the Republic of Tatarstan and the Ministry of Economic Development of Russia, to increase the Group's capitalization to $ 36 billion, to ensure an annual dividend payment to shareholders in accordance with the Company's dividend policy, to maintain leadership positions in the field protection of the environment, development of human capital. The main parameters of the strategy are published on the Company's official website on the Internet in the section "Presentations for Investors".
During the meeting, information on the organization of the KPI system (key performance indicators) in the TATNEFT Group was discussed. The implementation of the pilot project in 2017 allowed the strategic targets to be decomposed into annual measurable indicators, to conduct a transparent assessment of the results of the work of key employees, to identify inefficient links in the management processes and to find new directions for further development. In the current year, Tatneft has moved to the next stage of the KPI system development: the perimeter of the positions in the main business areas has been increased, functional functions such as innovation, IT, HR, corporate management, etc. have been involved.
In addition, due to the expiration of the term of office of the director of PJSC Tatneft, the meeting considered the appointment of the head of the company. In accordance with the Company's Charter, taking into account the recommendations of the Personnel and Remuneration Committee of the Board of Directors, Nail Maganov was appointed to the post of General Director of PJSC Tatneft from November 26, 2018. In connection with the retirement, the powers of the member of the Management Board of PJSC Tatneft V.D. Ershova terminated.