PJSC TATNEFT’s Board of Directors of Meeting
A meeting of the Board of Directors of PJSC TATNEFT named after V.D. Shashin chaired by R.N. Minnikhanov, President of the Republic of Tatarstan, was held in Kazan on November 28, 2019.
The meeting participants discussed the Company’s the budget implementation for ten months of 2019 and approved the budget for December of the current year. The Board of Directors approved the budget forecast for the movement of PJSC the TATNEFT’s payment funds for 2020.
The information was presented to the participants of the meeting in the report on the project implementation plans to build a petrochemical complex. Particular attention was paid to recycling technologies, cleaning of gas and liquid flows in a closed loop mode, providing for environmental security. They contemplated the issue of further development of petrochemical facilities in Togliatti, which became the part of the TATNEFT Group this year. The integration of the Togliatti enterprises in the production processes of the of the Company’s petrochemical complex would ensure the achievement of the synergy effect from the acquired assets.
The meeting participants discussed the projected performance of the "Exploration and Production" business line for 2020. In the baseline scenario the "E&P" block of the Company plans to provide for the production in the amount of 29.5 million tonnes per year, continuing the implementation of the "SVN-3200" strategic project. The Company also developed an additional scenario to increase the production in the event of removing the restrictions in the framework of the "OPEC+" agreement.
The Board of Directors decided to change the composition of the Board of PJSC TATNEFT. There were also a number of other issues reviewed at the meeting.
Forward-looking statements: This press release contains certain statements regarding future events and expectations, which are forward-looking in nature. Any statement in this press release that is not a historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ materially. PJSC TATNEFT shall assume no obligation to update such forecasts to reflect actual results, changes in assumptions or changes in factors affecting these statements.
Subscribe to news
Your address will only be used for newsletters and will not be shared with any third parties.