OREANDA-NEWS. March 11, 2013. Nikolai Merkushkin, Samara Region Governor, and Shafagat Takhautdinov, General Director of JSC TATNEFT, signed a Supplementary Agreement on cooperation development.

The Cooperation Agreement between the Government of Samara region and TATNEFT Joint Stock Company was signed on August 7, 2008 for a period of 5 years. A Supplementary Agreement has been signed in order to further develop mutually beneficial partnership relations between the Company and the Government of the region.

This document determines that TATNEFT Company will provide for oil production in Samara region in 2013 in the amount of at least 311 thousand tons, while the annual growth of hydrocarbon reserves shall be at least equal to the annual production volume.

The Parties have also fixed their commitments to the further implementation of projects aimed at improving rational utilization of associated petroleum gas and meeting the requirement of APG utilization at the level of least 95%.

The document defines the tasks for further implementation of a harmonized policy in the field of social security and employment of workers; support of voluntary health insurance programs and implementation of regional sports and cultural projects.

In turn, the Government of Samara region will support the Company’s investment activities carried out in the region territory within the federal and regional legislation limits.