OREANDA-NEWS. March 04, 2013. A regular meeting of the Board of Directors of JSC TATNEFT, chaired by R.N. Minnikhanov, President of the Republic of Tatarstan, was held in Kazan (Republic of Tatarstan).

The Board of Directors meeting summed up the results of JSC TATNEFT's budget execution in January and approved the budget for March 2013.

The Board of Directors meeting reviewed the program of improving the reservoir pressure maintenance system for 2013-2014. The program's major areas include geological and technical activities with regard to injection wells (formation fracturing, wells workover, implementation of the dual water injection technology), as well as reconstruction of the RPM system facilities.

The Board of Directors discussed the results of TATNEFT's Employees Conference for the year 2012 and the results of implementing social programs. The Board of Directors pointed out successful large-scale work for both ensuring guarantees and social benefits of the employees and retirees of TATNEFT Group of companies and implementation of projects for improvement of towns and villages, solving social and everyday life problems of the population.

The Board of Directors was informed about the outcome of the Internal Audit Department activities for the year 2012. During the reporting period, experts of the Department carried out 11 planned audits on various aspects of the Company's financial and economic activities. The Department was also actively involved in the implementation of nonscheduled projects, including logistics strategy development, analysis of the hot line performance at the trade and procurement platform.

The Board of Directors considered the issues of holding the Annual General Meeting of the Company's shareholders on the results of 2012.