OREANDA-NEWS. July 21, 2008. A traditional meeting of President of Tatarstan M.Sh.Shaimiev was held at the Yelabuga Area, Tatarstan, with the management of oil companies operating on the territory of the republic. Prime Minister of the Republic of Tatarstan  R.N.Minnikanov, representatives of ministries and agencies, heads of municipal areas participated at the meeting, reported the press-centre of Tatneft.

Sh.F.Takhautdinov, General Director of OAO Tatneft, reported about the company's results for the first half-year and briefly reviewed further measures for   productivity enhancement.
Tatneft Company produced 13,84 million tons of crude for the first six (6) months of 2008 (versus 12,99 million tons for the same period in 2007).

37 thousand meters were drilled, of them 117 thousand meters were drilled for joint and independent companies. The expected sales proceeds amount to 134 billion rubles. The total sum invested by Tatneft, its subsidiaries and affiliates amounted to some 26 billion rubles, a major part of that sum was invested for the development of oil and gas production activities.

In 2008, the company plans to increase oil production by 1.6 times beyond the Republic of Tatarstan  and to reach the production level of 315 thousand tons. Tatneft proceeds with implementation of two (2) big projects in Syria and Libya. The total number of exploration wells planned for drilling was six (6), two (2) of them have already been drilled, and a 50 m thick pay zone has been identified. In this year the company plans to drill four (4) wells in Libya.
 The third pair of horizontal wells has been drilled and completed under a pilot project for the development of the Ashalchi field; and the company has started oil  production. In aggregate 14 thousand tons of super viscous oil have been produced from the commencement of development operations.

Two (2) major investment projects are implemented at the facilities of the company's petrochemical complex. At the facilities of Nizhnekamskshina the company constructs a plant for the manufacturing of ecological solid metal-cord tires with the designed capacity of 1,2 million tires per year and the cost of 13,8 billion rubles.

Operations for upgrading and increase of the capacities of Nizhnekamsktechuglerod by 1,5 times are carried out at present time. For the first half of the year approximately 11 billion rubles were invested for the construction of  refining and petrochemical facilities in Nizhnekamsk, in aggregate  over 31 billion rubles have been invested from the  beginning of the construction. The commercial output of Tatneft's petrochemical enterprises amounts to 12,5 billion rubles for the first six (6) months of the year, that is 6% higher as compares with the same period of the previous year.

The General Director of Tatneft Company expressed appreciation to the government of Tatarstan for its support  in improvement of the efficiency of taxation system in the petroleum industry that was recognized  by the government of the Russian Federation. Nevertheless, the company should proceed with this work.  Beside the zero mineral recovery tax for the production of super viscous oil, a number of other actions  should be taken for promoting the development of  super viscous oil fields, including, inter alia, budgetary financing of exploration operations, financing of construction of external infrastructure facilities, tax benefits for  the manufacturers of the equipment for bitumen extraction and upgrading.

Other  participants addressed the meeting, among them were  members of the RT government,  managers of small oil companies operating in Tatarstan.

President of the Republic of Tatarstan M.Sh.Shaimiev expressed appreciation to the oilmen for their contribution to the economy of the republic and welfare of its residents.