"The company invested 13 billion rubles ($506 million), including 7 billion rubles ($273 million) in oil production development and 2 billion rubles ($78 million) to expand the raw material base outside Tatarstan," Shafagat Takhautdinov said.
Tatneft is active in the Samara and Orenburg regions, the Nenets Autonomous Area and Kalmykia, where 24,500 meters of rock has been drilled. The businessman said his company was continuing to implement foreign projects in Syria and Libya, with the company's geoscientists exploring the markets in Tunisia, Morocco, Angola, Gabon, Kazakhstan, and Uzbekistan.
"The development and introduction of new technologies and equipment is a priority," the Tatneft CEO said. "Over 400 million rubles ($16 million) was spent for the purpose."
