A Regular Meeting of the TATNEFT’s Board of Directors Was Held
24 февраляResults of the budget execution for January 2021 were considered at the meeting and the budget for March 2021 was approved.
The information on the implementation of the investment program, which was implemented in 2020 in the setting of restrictions on crude oil production and the postponement of some projects due to the pandemic was presented to the Board of Directors.
Investments for 2021 take into account the objectives of Strategy 2030 aimed at increasing the value of the Company. TATNEFT will continue to implement its strategic projects: the TANECO Complex, the development of the tyre manufacturing business, as well as projects in the energy sector. The work will also be continued to improve the investment activities efficiency.
The information was presented to the Board of Directors members about the measures taken by TATNEFT to prevent the spread and mitigate the consequences of the COVID-19 epidemic. The implemented by the Company range of organizational, technical, sanitary, anti-epidemic and social measures aimed at ensuring the safety of employees, the support of medical facilities and emergency services, as well as the support and social protection of the population, made it possible to work out the skills of prompt response to emergencies, improve the level of culture and self-awareness of the Company and the public at large. The work in this area will be continued. Taking into account the ongoing vaccination, the measures will be developed and implemented by TATNEFT to level effects of a pandemic and gradually return to the usual way of life and business.
A report on the measures taken by TATNEFT to support service enterprises and reduce the risks of economic and social problems in the region was presented to the Board of Directors. The Company implemented additional investment programs in the drilling and workover areas in the second half of 2020 aimed at fast recovering and increasing the production while easing or lifting the OPEC restrictions. As a result, 488 thousand meters of rock were penetrated, 478 production wells were built and commissioned, and 416 wells of the said number were drilled within the framework of the Well Grid Compaction project. As part of the production program for the remedial well servicing, the work was mainly carried out on the injection wells stock with the complication of the nomenclature. The implementation of geological and technical measures planned for 2020 with the involvement of local contractors provided jobs for more than 7 thousand people.
As part of the Company s achievement of the Sustainable Development Goals, the Board of Directors considered the measures taken to ensure openness, safety, viability and environmental sustainability of cities and inhabited localities. TATNEFT assumed responsibility for the formation of a sustainable ecosystem in the region of the Company s operations. Significant investments in the social infrastructure and charitable programs contribute to strengthening the stability, creating the comfortable environment, while maintaining and increasing the workforce capacity. The contribution of TATNEFT to the sustainable development of the region is the construction of housing in the frame of the social mortgage program, the introduction of modern approaches to urbanization; creation of safe, affordable and sustainable transport systems; safe and accessible public spaces open to all people; solving environmental issues in the region, etc.
The Board of Directors approved the areas for the implementation of the Goal Sustainable Cities and Inhabited Localities , as well as a roadmap for the Goal achievement. Inter alia, the Company identified for itself the following priorities: increasing the efficiency of social investments; implementation of comprehensive programs for the development of territories; active digital transformation of urban governance; formation of an open safe environment; ensuring the inflow of qualified personnel.
The Board of Directors also discussed several other issues at the meeting.
Forward-looking Statements and Disclaimers: This press release contains certain statements regarding future events and expectations, which are forward-looking statements 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. The amounts and the interest money indicated or referenced in this press release may be given taking into account the rounding and, accordingly, they may differ from the actual figures and results contained in the company s reporting documents. PJSC TATNEFT shall assume no obligation to adjust or reimburse any amounts that may make the difference between those specified in this press release and the relevant reporting documents, and all payments shall made by PJSC TATNEFT exclusively in accordance with the decisions of the competent Company s management bodies in the amount and manner specified in such decisions.
Enterprises of the TATNEFT Group of Companies have started preparation works for coming snowmelt floods.
There was a conference of the TATNEFT s labor collective held at the city of Almetyevsk (Republic of Tatarstan), during which the results of the activities and fulfillment of the Collective Agreement terms in 2020 were summed up and the tasks for 2021 were outlined.