23/06/2017

Press release (Tatneft): Regular Meeting of the TATNEFT’s Board of Directors Was Held

A meeting of the Board of Directors of PJSC TATNEFT was held immediately after the work completion of the General Annual Meeting of Shareholders in the city of Almetyevsk on June 23, 2017.

The meeting reviewed the results of the implementing the Company's budget for five months of 2017 and approved the budget for July and the third quarter of the current year.

The Board of Directors discussed the information on the efficiency of workover and well drilling operations, as well as those of the reservoirs enhanced oil recovery. The Board pointed out the  effectiveness of such measures as the self-reliant performance of the well workover operations by oil and gas producing divisions, application of new technologies, which allow reducing the duration and cost of the works performed. The Board of Directors was acquainted with the technical and economic indicators in the field of drilling wells. There were 317 new wells built and commissioned over the five months of this year, which was 38% more than in the same period in 2016. At the same time, it was possible to achieve positive dynamics in several areas: commercial drilling speed, cost per meter of penetration, cementing quality of the production string. It was he recommended to the Executive Directorate of the Company to continue work on introducing and replicating innovations in the field of the wells drilling.

The Board of Directors also considered a number of other issues related to the activities of TATNEFT.


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