OREANDA-NEWS. January 31, 2013. A conference of the employees of TATNEFT, which summed up the Company's activities results and fulfillment of the Collective Agreement for 2012 and outlined the tasks for the current year, was held in the city of Almetyevsk (Republic of Tatarstan), reported the press-centre of TATNEFT.

The annual event was attended by Shafagat Takhautdinov, General Director of the JSC TATNEFT, Khamza Bagmanov, Deputy Minister of Industry and Trade of the Republic of Tatarstan, Rinat Sabirov, Assistant to President of Tatarstan, Tatyana Vodopyanova, Chairwoman of the Trade Unions Federation of the Republic of Tatarstan, Mazit Salikhov, Head Almetyevsk Municipal District, as well as senior managers, heads of the Company's structural divisions and subsidiaries.

In 2012, TATNEFT Company successfully pursued accomplishment of the strategic objective for stabilization of crude oil and gas production. The Company produced 26 million and 5 thousand tons of crude oil, accounting for 76.6 thousand tons increase versus 2011. This is the maximum amount of crude oil produced in the last 16 years.

New approaches to solving the Company's business issues aim at increasing the crude oil recovery ratio. Promising areas of the activities include further development of drilling horizontal and multilateral wells as well as small diameter wells.

Further development of horizontal drilling technologies envisages multistage hydraulic fracturing in the extended horizontal wellbore, which will result in the multiple expansion of the filtration area.

The Company will continue the development of Ashalchinskoye extra-viscous oil field. The Company has elaborated a business project for the development of this field envisaging 10 pairs of horizontal wells drilling per year.

The Joint Stock Company professionals will apply most advanced existing technologies for the development of the hard-to-recover hydrocarbon reserves. The plans provide for close cooperation with the "Skolkovo" Innovation Center, which the JSC TATNEFT has signed an agreement with on establishment of the Company's scientific and technical center in the territory of the Innograd (innovation City).

An integral indicator of the Company's development technological level is the mean time between failures (MTBF) of the wells in operation. Application of innovative technologies, introduction of modern equipment and service work quality improvement allowed increasing the mean time between failures index to 1,199 days.

High production results are demonstrated by the Company's tire manufacturing complex. The 13 millionth tire rolled off the assembly line on the eve of the New Year. The market share of the TATNEFT's tires was increased by 5 percent.

Innovative products are being successfully assimilated in the Company: the production of solid steel cord tires has increased more than twofold.

2012 was the first full year of the Company's operation in the status of the oil refining one. 7 million tons of crude oil were processed at the TANECO refinery. The works on increasing the crude oil conversion ratio and expansion of production facilities at the TANECO Complex are actively pursued.

The achieved operating and financial results of the TATNEFT's activities allow providing for the necessary level of social protection of the employees and implementing high corporate social standards. All the commitments contained in the Collective Agreement of the Company were fulfilled in the past year. Implementation of the voluntary insurance programs on provision of medical services and extension of sanatorium and resort treatment were continued.

The objectives of the Joint Stock Company for 2013 include inter alia further work on introduction of innovative technologies in production, transportation and crude oil and gas processing, drilling and well workover; development of heavy oil reserves, licensed areas in the Russian Federation and outside; continuation of the large-scale project implementation to build petrochemical and refining plants in Nizhnekamsk; further ensuring of the necessary level of social protection of the employees, implementation of corporate social standards, etc.

The meeting approved a Collective Agreement for 2013, as revised and amended.