OREANDA-NEWS. October 03, 2011. The representatives of TATNEFT Company have participated in a formal meeting with the representatives of a major U.S. bank, the Bank of America - Merrill Lynch (Bank of America - Merrill Lynch), and the heads of large investment funds. The visit of the delegation has been held under the patronage of the Government of the Republic of Tatarstan and has been organized by the Investment Promotion Agency of the Republic of Tatarstan with participation of the representatives of the Ministry of Energy of the Republic of Tatarstan and IT-park, reported the press-centre of TATNEFT.

Tatarstan attracts the managers of one of the largest investment banks as one of the fastest developing regions of the Russian Federation, therefore presentations demonstrating the economic potential of the Republic have been offered to the guests' attention. Particular attention has been paid to the crude oil refining and petrochemical industry branches of Tatarstan.

The display exposition of TATNEFT presented at the event included the Company's innovative developments in the field of drilling and operation of oil fields, including extra-viscous oil fields development. Efficient technologies in the area of environmental protection have also aroused great interest of the foreign visitors.

Then a round table of the delegation representatives and TATNEFT was arranged, where the participants discussed the results of the oil company financial activity and current projects.

Andrew Stobart, manager of "Baillie Gifford" Fund, told the reporters that the delegation had already visited several regions in Russia, and Tatarstan, of course, was very attractive for investors, especially in terms of its oil industry and the openness of the Government. The main objective of the Bank is pursuance of portfolio investments. According to Andrew Stobart TATNEFT Company is interesting as a large-scale producer of crude oil and petrochemical products.

Vladlen Voskoboynikov, Head of TATNEFT's Consolidated Financial Statements Department has said that the Bank of America - Merrill Lynch is one of many investment companies, which TATNEFT maintains ongoing relations with. Merrill Lynch manages various funds that own shares, including TATNEFT's shares among them, and also provides recommendations to investors on investments in the Russian market. Therefore the guests have been familiar with the Company for quite a long time through regular meetings of TATNEFT's representatives with investors and analysts. This visit is intended to update the existing information.

Vladlen Voskoboynikov has said that the meeting was positive. According to him the guests were particularly interested in issues related to the TANECO Complex of Refineries and Petrochemical Plants. The discussion also concerned the prospects for extra-viscous oil fields development, changes in taxation of the oil and gas sector in Russia and their impact on the implementation of TATNEFT's projects, and also the operating and financial results of the Company's activity. The delegation was briefed on the innovations of TATNEFT, which increased the effectiveness of the Company's activity, and, consequently, its attractiveness for investments.

As part of the planned activities TATNEFT will be meeting with investors including the members of the delegation in the near future.

Information Reference
Merrill Lynch, a large American investment bank (headquarters in New York), has been acquired by the Bank of America and now a division of the mentioned bank (Bank of America - Merrill Lynch). The bank was founded in 1914.

Merrill Lynch is one of the leaders of the world investment banking. There are about 54,000 employees working in the Bank's 36 offices all around the world.