OREANDA-NEWS. October 03, 2011. 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 budget execution of TATNEFT for eight months of 2011 and approved budgets for October and the fourth quarter of this year, and also discussed the projections of the financial and economic activities of TATNEFT in 2012.

The Board of Directors was briefed on the results of application of the oilfield and drilling equipment recovery technologies. Thus, over the past five years, the accumulated economic benefit resulting from their introduction has amounted to over 9 billion rubles. Additionally 1288 job positions have been created.

The Board of Directors reviewed the results of operations and prospects of development of the petroleum products sale system, as well as ways to improve the efficiency of the Company's filling stations through application of new technologies.

The Board of Directors discussed the program of further development of TATNEFT energy complex enterprises. Currently measures are being implemented to improve the efficiency of Nizhnekamsk CHP, reconstruction of Almetyevsk heating systems network is in the process and local power generation plants using the energy of petroleum associated gas for crude oil production facilities are being built. The Board of Directors noted the importance of a large work in this direction for the economy of Tatarstan.

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