Azat Hamaev attended the regular meeting of the Board of Directors of PJSC "Tatneft"

23.03.2016 in Kazan held a regular meeting of the Board of Directors of PJSC "Tatneft" chaired by the President of the Republic of Tatarstan Rustam Minnikhanov.

During the work of the Board the results of budget execution for two months in 2016 were announced, and approved the budget for April and the second quarter of 2016.

Participants of the meeting discussed the current state of work to increase the efficiency of oil recovery and infill wells. PJSC "Tatneft" is developing 87 fields in 65 license areas, 84 fields and 61 license area of which are located in Tatarstan. Due to the consistent implementation of the annual technologies of increase the oil recovery factor, at the moment such activities provide the company about 6,8 million tons of additional oil production and more than 25 percent of the total production. A significant role in increasing the efficiency of enhanced oil recovery methods is given to horizontal technologies. Today, 812 horizontal wells, 111 multilateral wells and 356 of lateral horizontal wells are drilled and operated. In 2015, according to the plan, horizontal drilling in the North-Ashalchinskoye, Tuymetkinskoe and Bolshe-Kamenskoe elevations are fully implemented. Over the past decade there have been significant changes in the structure of developed reserves and new fields, significantly increased the proportion of stranded oil, cost-effective operation of these deposits provides the creation and successful implementation of new technologies.

The Board of Directors considered the issues relating to the definition of the audit firm for audit for 2016, according to ISFR and RRoA standarts, to the Annual General Meeting of Shareholders.

Also, the Board of Directors agenda included a number of other questions about the company.