The Board of Directors of PJSC "Tatneft" summed up the first quarter of 2016

On May 25, 2016 in Kazan held a regular meeting of the Board of Directors of PJSC "Tatneft" under the chairmanship of the President of the Republic of Tatarstan R.N.Minnikhanov.

The meeting discussed the budget execution results of the Company in first four months of 2016 and approved the budget for June of this year, discussed the results of financial and economic activities for the first quarter of this year.

In the first three months of this year on "Tatneft" fields there were produced 6 million 846 thousand tons of oil, which is on 5.4% higher than the same period of last year. On Ashalchinskoye field there were produced 119,000 tons of viscous oil. Since the beginning of the application of thermal methods as at 04.01.2016 it was produced 1.058 million tons of extra-viscous oil.

As a result of financial and economic activity during the reporting period the net profit was contained in the amount of 20 billion rubles.

Participants of the meeting discussed the current state in the field of environmental monitoring of the environment during the operation of deposits of bitumen oil. Realizing all the possible environmental risks, "Tatneft" company is implementing an extensive environmental program: provides continuous monitoring of air, water, soil environment, and conducts comprehensive geodynamic monitoring, including satellite, leveling and seismological measurements.

The meeting was informed about the report on the results of last year, the annual financial statements, distribution of profits and losses for the financial year, on the results of the audit of financial and economic activity for 2015 made by the Audit Committee and the audit company "PricewaterhouseCoopers Audit" and information about holding the general annual meeting of shareholders of PJSC "Tatneft".

At the Board of Directors were also considered a number of other issues of the Company.