New horizons for "Tatneft"

On March 26, the conference of TatneftІs labor collective devoted to the 2000 results and plans for the future was held in Almetyevsk. Tatarstan President Mintimer Shaimiev took part in the conference.

The last yearІs turning point for "Tatneft" was the well-directed efforts on expansion of its activity and transformation to vertically integrated structure. Sales of oil products instead of crude oil will allow to increase general profitability and investment capacities as well as to rise competitiveness on external and home market. It involves not only the development of a network of gas-stations and construction of oil-refinery, but also petrochemical production, in particular tire production. The total commodity output in 2000 increased 2,4 times and made up 109 billion rubles, including oil, oil-and-gas products, pipes, technical carbon and tires.

In 2000, the stabilization program for crude oil was successfully realized. 10 million tons of oil or nearly 43 per cent were extracted in 2000 with the use of modern methods for reservoir recovery.

The conference defined main tasks for 2001: to produce 24 million tons of crude, to drill not less than 1,300,000 meters of rock, to put in operation 482 producing and 346 pumping wells.

Mintimer Shaimiev called the previous year "a break-through" for the company. It is especially pleasant on the background of general growth of commercial production in the republic. Tatneft has greatly contributed to TatarstanІs 4th place in Russia according to the volume of gross regional product, to a number of the republican social programs, especially the obsolete housing demolition. The republic will return the favor, the President said, the oil industry will be rendered all possible support.