The most important component of the TATNEFT Company's corporate management is a system of uniform corporate standards aimed at ensuring the efficiency of business processes, their quality control, minimizing all the types of corporate risks and generally maintaining transparent corporate relations between the parent Company, structural divisions, subsidiaries and affiliates.
Uniform corporate standards
The system of corporate standards includes 28 areas covering all components of the Company's activities, and embraces the parent company, as well as subsidiaries and affiliates.
The corporate standards are approved by the General Director of PJSC TATNEFT and are registered under an individual serial number in a special register. The register is updated on the annual basis. The corporate management standards register included 80 standards as of June 1, 2015. The current compliance with standards is supported by the adoption of relevant management decisions and the approval of additional regulations.
PJSC TATNEFT has introduced the corporate information system of the unified regulatory base (ERB) CIS to ensure maintenance and developnent the unified regulatory base. As of mid-2015, there were 2,349 internal and 40,160 external regulatory documents located in the ERB CIS.
The major new corporate management standards of TATNEFT Group formed in 2013:
- Corporate management standard "On registration procedure of suppliers of goods (works, services) at PJSC TATNEFT”;
- Tender regulations for procurement of goods, works and services by the branch of PJSC TATNEFT in Libya required for the implementation of agreements on exploration and production sharing between the National Oil Corporation of Libya and PJSC TATNEFT;
- Regulations for the contractual work organization at PJSC TATNEFT n.a. V.D. Shashin;
- Standard to ensure the performance efficiency of associated petroleum gas driven power generating plants at PJSC TATNEFT.