OREANDA-NEWS. November 03, 2010. A regular meeting of the Board of Directors of TATNEFT, chaired by R.N. Minnikhanov, President of the Republic of Tatarstan - Chairman of the Board of Directors of TATNEFT, was held in Kazan (Republic of Tatarstan), reported the press-centre of TATNEFT.

The meeting reviewed the outcome of TATNEFT budget execution for nine months of 2010 and approved the budget for November of the current year.

The Board of Directors was briefed on the status of exploration operations and the resource base of TATNEFT. It should be mentioned here that exploration operations for the period of 1995 to 2010 in the Republic of Tatarstan resulted in discovering 79 oil fields with 46 of them belonging to TATNEFT. During the period from 2004 to 2010 15 deposits were discovered in the licensed areas of affiliated companies in the Nenets Autonomous District, Orenburg, Samara and Ulyanovsk regions, Kalmykiya and Syria. The results of the exploration works and implementation of enhanced oil recovery methods allowed stabilizing proven reserves in the amount of 862 million tons, probable reserves in the amount of 268 million tons and possible reserves in the amount of about 85 million tons in the last 15 years.

The Board of Directors meeting discussed information about development of information technologies in the corporate management system. It was recommended to the Executive Management Board of the Company to continue working in the area of automation of the major production on the basis of modern information technologies, creating and supporting mathematical models for managing the development of the oil fields. For the purpose of using the accumulated experience of building the TANECO Complex automation systems it was proposed to define the general contractor for the construction and operation of the mentioned systems.

The Board of Directors also considered a number of other issues of TATNEFT activity.