Roustam Minnikhanov optimistic about Tatarstan’s oil future

Tatarstan Prime Minister Roustam Minnikhanov has called the construction of an oil refining plant in Nizhnekamsk, part of the Taneko project implemented by Tatneft, the 2010’s crucial project. He said it in a statement at a traditional meeting with journalists before the New Year. According to him, the plant, capable of producing 7 million tonnes of oil annually, should be completed in October next year, the project has in general been financed for 120 billion roubles; 6.5 thousand people are employed at the construction.

Tatarstan presently processes 7 million tonnes of oil of the 32 million it recovers. By 2015, the figure should be, considering the Taif-NK plant’s plans, 21 to 23 million. “We will not just refine oil,” said Minnikhanov, “but manufacture petrochemicals from the refined products, which means more revenues, taxes and jobs.” About 10 million tonnes will be left for sale, the official remarked.

Answering the question from Tatar-inform whether the oil reserves were sufficient to fulfil the plans, the head of government said that according to a report made by Western auditors, Tatarstan had reserves of 1 billion tonnes. The figure was pronounced 10-12 years ago. It has remained unchanged due to annual reserve replacement that is commensurate with or even exceeds annual recovery.

Roustam Minnikhanov voiced his support of the theory of oil's abiotc (inorganic) origin and its constant inflow from the Earth’s interior. “I like this idea,” he said, citing Professor Renat Muslimov who had disproved the official predictions saying the Romashkino oilfield would in 20 years be depleted.

Besides, Tatarstan has 7 billion tonnes of bitumen oil. “In 20 years, there will be no light oil left, they will search for it in Africa, at sea shelves, while for us warming bitumen in the interior to then recover it will be more cost effective,” commented Roustam Minnikhanov.