OREANDA-NEWS. OAO TATNEFT Board of Directors has reviewed the results of executing OAO TATNEFT budget for eleven months of the year 2006 and has approved the budget for January and the first quarter of 2007.

The Board has discussed OAO TATNEFT Restructuring Program aiming at further increasing the efficiency of the major oil and gas production activity and the Company's oil service quality.

The Board of Directors has listened to the information presented about the petrochemical complex of OAO TATNEFT development. It is expected that by the results of 2006 the output of finished stock products will amount to 128% and the sales volume of goods and services will exceed 126% versus the year 2005.

The Board of Directors has reviewed the project of increasing ethane yield of the production capacities at Minnibaevo Gas Refinery and the refinery reconstruction. A decision has been taken to include this project into the Investment Program of OAO TATNEFT for 2007-2008 on the terms of entering a long-term agreement with a consumer about guaranteed acquisition of the product at market prices during the whole works' payback period.