TATNEFT Diversifies Business
22 июняA meeting of the Board of Directors of PJSC TATNEFT named after V.D. Shashin chaired R.N. Minnikhanov, President of the Republic of Tatarstan, was held in Kazan On June 22, 2022.The Board of Directors evaluated the activities in the area of the TATNEFT Group’s business diversification, including the renewable energy area. The Company continues expanding the Company’s portfolio of projects aimed at increasing the value of the Group.The main initiatives in the segment of crude oil production, as well as the production and sale of fuel are aimed at monetizing existing competencies, including the ones in other regions of Russia and the world, as well as ensuring the core oil production business sustainability. The creation of a multifunctional oilfield service unit will allow TATNEFT realizing the Company’s capabilities in drilling, well development, performance of well intervention activities, design and engineering as well as other works in the area of crude oil production and development of oil fields.One of the Company s long-term sustainability goals is to expand the Company’s non-fuel business. By 2030, the share thereof in the Company’s operating revenue structure will be increased to 20 . The main investments in this segment shall be directed to the petrochemicals production area, where the global market is characterized by favorable long-term prospects.TATNEFT pays special attention to improving the project portfolio sustainability to climate risks. Starting 2020, a mechanism for assessing and accounting for climate risks is being consistently introduced into investment processes. Currently, the possible future cost of greenhouse gas emissions is calculated and taken into account for all medium and large investment projects.The information was also presented to the members of the Board of Directors during the meeting on the results of the PJSC TATNEFT’s budget execution for 5 months of 2022, and the Board of Directors approved the budget for July the current year, got acquainted with the progress report in the area of labor protection, safety and ecology; approved the Policy of PJSC TATNEFT in the area of combating corruption, the Policy in the area of cyber security and cyber stability, and also considered a number of other issues of the production and economic activities.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.
Together with professionals from the Forest Institute named after V.N. Sukachev of the Siberian Branch of the Russian Academy of Sciences the Company conducts field research at the sites in the Aznakaevsky, Zelenodolsky, Arsky and Laishevsky regions of Tatarstan.
TATNEFT and NC KazMunayGas signed an agreement of intent to implement the Karaton-Sarkamys exploration project in the Atyrau region of Kazakhstan.