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Efficiency of the Main Investment Programs

«Oil Production Program»

Scheduled volume of additional oil production in total by all areas was reached. Actual efficiency of investments amounted to 141 tons/million rubles. The profit per 1 ruble of investments amounted to 0.297 ruble for the year. Additional source in the amount of 113.6 million rubles received from tax benefits was re-invested into the project expansion.

Indices of oil production and well production rates in 2008 were overfulfilled by the main areas of activity. Compared to the previous year the production rate resulting from drilling increased by 4% to 8.8 tons per day, while EOR accounted for 4% or 2.8 tons per day.

The Company continues implementation of projects at external territories, including those outside the Russian Federation. In Libya, The work within 4 blocks is carried out. The Company won a tender for exploration and development of oil-bearing block in Syria.

«Construction of the Complex of Oil Refining and Petrochemical Plants in Nizhnekamsk»

Financing in the amount of 32.1 billion rubles was provided under participation in the construction of the Complex of oil refining and petrochemical plants in Nizhnekamsk in 2008. In total financing in the amount of 52.3 billion rubles was provided from the beginning of the project implementation.

«Development of Petrochemical Complex»

The total volume of investments into the petrochemical complex of the Company amounted to 6.0 billion rubles.

Implementation of the project «Development of tire production at the plant of mass demand tires for 2008-2010». Investments are made into the project.

«Organization of the Solid Metal Cord Tires Production»

The design output is 1.2 million pieces per year. 7.2 billion rubles were spent from the beginning of construction and of this amount 5.5 billion rubles were spent in the reported period.

«Retail Business Development»

842 million rubles were invested in the reported period under implementation of Retail Business Development Strategy of OAO TATNEFT for the period of 2007-2010. 26 sites were commissioned including gas terminals at existing filling stations.

«Production of Glass Fiber and Products on its Basis»

Implementation of the project «Production of glass fiber and glass fiber products» with 64 million Euro investments started in 2008. The project implies organization of production of high-quality glass fiber and glass fiber products to be used in various fields of industry jointly with Preiss-Daimler Company. Construction of industrial and administrative buildings is on the way and contracts for equipment supply are concluded. Payback period of the project is 6.5 years.

Social Liability Investment Program

The Company invested 982 million rubles into construction, reconstruction and equipment of social facilities under this program.