The Board of Directors meeting considered the budget execution results for seven months of 2018 and approved the budget for September of the current year.

The results of the Company's financial and economic activities for the first half of this year were discussed. 14.11 million tonnes of crude oil were produced at the fields of PJSC TATNEFT during the reporting period. The volume of collected associated petroleum gas amounted to 447 million cubic meters. 236 new production and 95 injection wells were put into operation. The production volume of high-viscosity oil amounted to 933 thousand tonnes during the period, while the production volume since the beginning of the HVO deposits development amounted to 4,338 thousand tonnes of crude oil of as of July 1 of the current year.

According to PJSC TATNEFT's RAS financial statements gross revenues from the sale of shipped products increased by RUB 98.7 billion in comparison with the same period of the previous year, and amounted to RUB 430.9 billion, while net proceeds (excluding VAT and export duty) increased by RUB 91.1 billion and amounted to RUB 365.3 billion with PJSC TATNEFT receiving RUB 93.9 billion of net profit according to the results of financial and business activities. The total volume of investments in the TATNEFT Group for the first half-year amounted to RUB 43.3 billion.

A number of other issues of the Company's activities were also considered at the meeting of the Board of Directors.