Fanil Agliullin took part in the work of the regular meeting of the Board of Directors of TATNEFT PJSC
Yesterday in Almetyevsk the meeting of the Board of Directors of TATNEFT named after V.D. Shashin PJSC was held under the chairmanship of the President of the Republic of Tatarstan Rustam Minnikhanov. The meeting reviewed the results of budget execution for eleven months of 2020, approved the budgets for January, the first quarter and 2021 in general.
The draft budget for 2021 provides for financing of operating and investment activities, including the development of business areas with the greatest potential for value creation, the implementation of social programs, environmental protection and measures to reduce the carbon footprint, including through new energy efficient and low-carbon technologies for the entire production chain.
The Board of Directors heard information on the implementation of the geological exploration program for 2020. Thus, among the activities planned for the current year for the TATNEFT Group, 11 prospecting and exploration wells have been drilled and developed, of which 7 are within the Republic of Tatarstan. Two deposits were discovered in the Samara region. 152 appraisal wells were drilled at the extra-viscous oil fields to prepare prospective structures. Also, planned exploration work was carried out in the Nenets Autonomous Okrug, Samara and Orenburg regions. A joint venture of Tatneft, Gazpromneft and Lukoil was established in June 2020 to develop hard-to-recover reserves in the Volga-Ural Region at the Savitsky and Zhuravlevsky license areas of the Orenburg Region. Currently, a 3D seismic survey has been carried out at the Savitsky area, drilling of the first prospecting and appraisal well has been completed, and an exploratory well at the Zhuravlevsky area. The development of promising facilities is scheduled for 2021. Pilot development of the fields is planned to begin in 2024. The Board of Directors approved the geological exploration program for 2021.
The meeting reviewed the status of the implementation of the 2030 Strategy and its expected indicators. Due to a significant change in external conditions, the emergence of new challenges and opportunities, it was decided to update the Company's Strategy in 2021. It will reflect the development prospects of TATNEFT Group, taking into account the strengthening of the global environmental and climate agenda; changes in price forecasts, as well as actions and goals to restore value, which decreased during the crisis caused by the pandemic and additional external restrictions on oil production.
The Board of Directors got acquainted with the implementation of the Key Performance Indicators system in TATNEFT Group, approved the plan for its further development and the initiative to integrate with the Sustainable Development Goals.
The participants of the meeting considered and approved the key directions for the implementation of the TATNEFT Group HR Strategy until 2030. Further transformation of HR functions will be associated with strengthening the HR brand of TATNEFT Group; increasing labor productivity due to advanced scenario planning of labor resources and transformation of compensation strategies; development of mobility of competencies, career routes, recruiting; targeted programs for the formation of a system of ownership, etc. A separate portfolio of projects includes initiatives to improve the efficiency of HR functions.
A number of other issues were also discussed at the meeting.
Rustam Minnikhanov thanked the Board of Directors for work in difficult conditions, conveyed his words of gratitude to the members of the Management Board and the TATNEFT team.