OREANDA-NEWS. June 28, 2010. The annual general meeting of OAO TATNEFT's shareholders was held in Almetyevsk (Republic of Tatarstan), which approved the Annual Report of the Company's Board of Directors of for 2009, as well as financial statements for the financial year, reported the press-centre of TATNEFT

In 2009, OAO TATNEFT produced 25 million 800 thousand tons of crude oil with 45% of this amount produced by through application of various oil recovery enhancement methods. The Company invested funds in prospecting and exploration for oil and gas fields not only in Tatarstan, but also in the Republic of Kalmykia, Orenburg, Samara, Ulyanovsk Regioins, Nenets Autonomous District, as well as in Syria and Libya. The Company performs pilot operations aimed at development of large reserves of extra-viscous oil.

According to the assessment of an independent international consulting "Miller & Lents" company proved reserves of TATNEFT amounted to 862 million tons of crude oil as of the beginning of 2010. The Company received 67.9 billion rubles of profit before tax and 50.9 billion rubles after tax profit by the results of the reporting year.

In the ranking of social and environmental responsibility of business TATNEFT ranks No. 1 among oil companies in the country and it is the fourth among the largest 100 companies.

The Shareholders approved the dividend payment (in cash) by the results of the Company's activities for the year 2009 in the amount of 656% of par value per share (ordinary and preferred). The Shareholders approved the timing of dividends payment from July 1 to December 31, 2010.

The Meeting elected the Board of Directors of OAO TATNEFT in the following composition:

Rustam N. Minnikhanov, Prime Minister of the Republic of Tatarstan (State representative based on the "golden share" right);

Shafagat.F. Takhautdinov, General Director of OAO TATNEFT;

David W. Waygood, Director of ICDS Ltd;

Mariya L. Voskresenskaya, Director of Brentcross Ltd;

Radik R. Gayzatullin, Finance Minister the Republic of Tatarstan;

Gosh Soushovan, Managing Director of SGI Group Ltd.;

Nail G. Ibragimov, First Deputy General Director for Production - Chief Engineer of OAO TATNEFT;

Vladimir P. Lavushchenko, Deputy General Director of OAO TATNEFT on Economics;

Nail U. Maganov, First Deputy General Director of OAO TATNEFT - Head of Crude Oil and Oil Products Sales Department;

Renat Kh. Muslimov, Consultant to the President of the Republic of Tatarstan on Oil and Oil/Gas Fields Development Issues;

Rinat K. Sabirov, Assistant to the President of the Republic of Tatarstan on the Petrochemical Complex Issues;

Valery Yu. Sorokin, General Director of OAO Svyazinvestneftekhim;

Mirgazyan Z. Taziev, Head of NGDU Almetyevneft;

Azat K Khamaev, Minister of Land and Property Relations of the Republic of Tatarstan

Rais S. Khisamov, Deputy General Director-Chief Geologist of OAO TATNEFT.

The Shareholders Meeting also elected the Auditing Commission in the following composition:

Sariya K. Yusupova, Deputy Department Head of Economic Analysis of the Ministry of Finance of the Republic of Tatarstan;

Tamara.M. Vilkova, Deputy Head of the Accounting and Reporting Department - Deputy Chief Accountant of OAO TATNEFT;

Nazilya F. Galiyeva, Economist Oversight of OAO TATNEFT;

Ferdinand R. Galiullin, Chief Accountant of NGDU Jalilneft;

Venera G. Kuzmina, OAO TATNEFT NIS Economist;

Nikolay K. Lapin, Chief Controller of OAO TATNEFT;

Liliya R. Rahimzyanova Head of the Oil Production Administration of the Ministry of Economics of the Republic of Tatarstan;

Alfiya A. Sinegaeva, Department Head of the Labor and Personnel Management, OOO "Tatneft- AslmetyevskRemService"

Ravil A. Sharifullin, Chief Accountant of BGDU Yamashneft

ZAO Energy Consulting/Audit Company was approved as the Auditor of the Company for one year period to perform the mandatory annual audit of OAO TATNEFT's financial statements for 2009 prepared in accordance with Russian Accounting Rules. The Annual General Meeting of the Shareholders also approved proposed changes into the Articles of the Company.