Mintimer Shaimiev: "Oil Recovery is Necessary to Develop in Northern and Western Territories of Republic

President of Tatarstan Mintimer Shaimiev held meeting in Elabuga region on results of the work of Tatarstan oil companies for the first half-year of 2005 and measures on raising their competitiveness.

This traditional meeting passed in informal conditions. The republic has set on the road of intensive development, President noted in his speech but solution of available problems in many respects depends on overall performance of oil-workers because the branch is providing 37 percent of industrial output and third of RT budget receipts. The decision has been accepted to stabilize oil production at a level of 30 million tons per year.

Mintimer Shaimiev having promised all-round support on the part of the state, focused attention of oilmen on expanding oil recovery in northern and western territories of the republic, necessity of developing extraction of natural bitumens. He recommended also the oil companies to make investments in purchasing farmland in the areas of their activity prior coming of foreign investors.