30 January 2020

A Regular Meeting of the Board of Directors of TATNEFT Has Been Held

On January 30, 2020 in Kazan, a meeting of the Board of Directors of PJSC TATNEFT named after V.D. Shashin was held, chaired by the President of the Republic of Tatarstan R.N. Minnikhanov.

The meeting reviewed the results of budget execution of PJSC TATNEFT for 2019 and approved the budget for February 2020.

The Board of Directors heard information on the results of activities of the Internal Audit Department over the past year and internal audit plans for 2020.

The participants of the meeting familiarized themselves with the results of the implementation of the IT strategy in the Company’s main business areas. Among the innovative projects are the introduction of artificial intelligence in the development of fields, maintenance of oil production facilities; creation of a digital twin of the CDU/VDU-7 unit at the TANECO refinery; use of digital distribution channels, etc.

Potential projects of 2020 are the digitalization of reserves calculation, planning and construction of wells, and management of their repair; duplication of digital twin technology at hydrocracking units and CDU/VDU-6 TANECO; development of multi-period optimized planning tools in the tire business; implementation of business analysis tools for cost management, digitalization of performance management processes, etc.

During the meeting, the Board of Directors discussed the organizational and financial effects expected from the introduction of a system for assessing staff satisfaction at TATNEFT. Its key indicators cover the main aspects of employee satisfaction, including working conditions, the social and psychological climate in the team, brand loyalty, and commitment to corporate culture and values.

The Board of Directors approved the new version of the Regulation on the Procedure of Corporate Interaction of PJSC TATNEFT Named after V.D. Shashin with Controlled and Affiliated Organizations, which regulates the mechanism of interactions with organizations of the TATNEFT Group.

   The participants of the meeting also discussed other issues.

Forecast statements: This press release contains certain statements regarding future events and expectations, which are forecasts in nature. Any statement in this press release that is not a historical fact is a statement of forecasts and includes known and unknown risks, uncertainties and other factors that may change the actual results, accomplishments and achievements set forth in such forecasts. PJSC TATNEFT does not undertake any obligation to update such forecasts to reflect real results, changes in assumptions or changes in factors affecting these statements.

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