News Column

Stock Market Analysts Visited the Facilities of TATNEFT

June 9, 2014



ENP Newswire - 09 June 2014

Release date- 06062014 - Stock market analysts visited the production facilities of JSC TATNEFT.

A group of stock market analysts representing 14 leading international and Russian investment banks visited the TATNEFT Group's production facilities in the Republic of Tatarstan on June 2-3 this year at the invitation of the Company's management.

During the trip the representatives of the investment community met with the Company's management, discussed the results and plans of TATNEFT both in crude oil production and refining and had the opportunity to get the first-hand information about the TATNEFT Group's activities.

The first of the facilities visited was the 'TANECO' Refining and Petrochemical Plants Complex in Nizhnekamsk. After the meeting with the management of 'TANECO' the visit participants were demonstrated the major operating installations of the Complex, the control room, hydrotreating and delayed coking installations construction sites.

The amount of more than 20 million tons of oil has been processed at the 'TANECO' complex since the project implementation start. The raw materials conversion depth has reached 74% with the yield of light oil products over 70% taking hydrocracking into account. The commissioned into commercial operation combined hydrocracker allows producing high quality much-in-demand products: EURO 5 diesel fuel and jet fuel. The Complex plans for the current year to start production of high-index Group III base oils.

The next stage of the Complex development will be an advanced petroleum refinery, which will include operation of the installations for delayed coking, catalytic cracking, catalytic reforming and isomerization. This will further increase the oil conversion ratio and the light products yield.

The event participants familiarized themselves with the engineering developments of TATNEFT's experts at the production areas of NGDU 'Almetyevneft' ensuring efficient operation of the Company's deposits. Inter alia they include technologies of dual completion and production (DCP) of two or more layers through one well. Application of dual production installations allows concurrent operation of the targets with different reservoir characteristics and properties that increases the profitability of individual wells through involvement of other development targets and through reduction of the first cost for drilling wells.

The resource saving technologies demonstrated to the analysts included balancer-free chain drives manufactured by the Bugulma Mechanical Plant and developed jointly with the experts of TatNIPIneft. Application of chain drives in sucker rod pumping installations allows to significantly reduce energy consumption for oil production and increase the mean time between failures index.

In Almetyevsk area the delegation was also demonstrated the preparation process for the formation hydraulic fracturing operation and was acquainted with the specifics of hydraulic fracturing at the Company's fields in Tatarstan, as well as with the activities of the Center for remote drilling operations management and interaction of TATNEFT's services as a customer with service contractors when drilling wells.

A meeting with the management of JSC TATNEFT was held on June 3 at the Company's headquarters in Almetyevsk, where N.U. Maganov, General Director of the Company, N.G. Ibragimov, First Deputy General Director for Production - Chief Engineer, R.S. Khisamov, Deputy General Director - Chief Geologist, V.P. Lavushchenko, Deputy General Director for Economics, V.I. Gorodny, Deputy General Director - Head of Property Department and other Company's executives answered numerous questions put by the analysts about the Company's activities and its plans.

In particular, during the meeting Nail U. Maganov, General Director, outlined the main strategic initiatives of the Company aimed at increasing capitalization, including maintaining the oil production at the existing fields, increasing the volumes of extra-viscous oil (EVO) production and development of hard-to-recover oil reserves, the 'TANECO' Complex development, as well as the opportunities to increase primary processing. At the same time he emphasized the Company's commitment to maintaining a high level of dividend yield.

The information about the activities of TatNIPIneft, which is a Scientific Center of TATNEFT, was presented to the guests by R.R. Ibatullin. He spoke about the research and development work carried out in the Company, as well as about the process of creating new technologies and other activities aimed at strengthening the innovative potential of TATNEFT.

At Ashalchinskoye natural bitumen field of JSC TATNEFT the delegation got familiarized with the conditions of extra-viscous oil production and technical measures performed, including engineering solutions to build new facilities for production, treatment and transportation of EVO.

The analysts spoke highly about the trip, which had allowed them to witness the achievements of the Company in the key activities as well as communicate directly with the management and staff of the TATNEFT Group of Companies on all the matters of mutual interest.

Media Contact:

Valeeva Nuriya Zufarovna

Tel: +7 (8553) 37-37-51

Fax: +7 (8553) 37-30-45

Email: alparova@tatneft.ru


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Source: ENP Newswire


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