Tatneft

Aktivs

At the beginning of 2016, TATNEFT operates in Tatarstan, Samara, Orenburg, Ulyanovsk regions, Nenets Autonomous Okrug and Kalmykia, the company's headquarters are located in Almetyevsk.

TATNEFT accounts for almost 8% of oil production in Russia and over 80% of oil production in Tatarstan. Proved reserves of TATNEFT by the beginning of 2015 amounted to 851.5 million tons of oil. At the beginning of 2011, Miller & Lents, an international consulting company, estimated proved developed, undeveloped and undeveloped oil reserves of TATNEFT at 836.5 million tons.

Performance indicators

2023: Growth in profit by 1.2% to 287.9 billion rubles

At the end of 2023, TATNEFT's net profit reached 287.9 billion rubles. This is 1.2% more than in the previous year, when this figure was 284.6 billion rubles. Such data are given in the financial report published in mid-March 2024.

TATNEFT's revenue in 2023 amounted to 1.589 trillion rubles, which is 11.3% more than in the previous year (1.427 trillion rubles). The company's pre-tax profit decreased on an annualized basis by 3.8% - to 365.5 billion rubles. Profit from continuing operations amounted to 286.3 billion rubles against 299.2 billion rubles in 2022.

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In the total revenue of TATNEFT in 2023, oil accounted for 577.4 billion rubles, oil products - 892.7 billion rubles. For comparison: in 2022, these indicators amounted to 533 billion rubles and 792.2 billion rubles, respectively. Thus, growth was recorded on an annualized basis by 8.3% and 12.7%. Another 22.3 billion rubles in 2023 brought the sale of tires. Other areas of activity accounted for 96.6 billion rubles: this category includes the sale of materials, equipment, some types of petrochemical products, various types of oilfield services, as well as the sale of energy, water and steam to third-party enterprises.

Operating expenses of TATNEFT for 2023 amounted to 200.2 billion rubles, an increase of 13.4% compared to 2022. These consist of oil production costs, refining costs, employee compensation costs, and other sales costs. The cost of purchased oil and petroleum products in 2023 and 2022 amounted to 306.4 billion rubles and 135.2 billion rubles, respectively. Transportation costs in 2023 amounted to 71.9 billion rubles, which is 35.9% more than in 2022.^[1]

2022: Revenue growth by 18.1% to RUB 1.43 trillion

TATNEFT's revenue for 2022 rose by 18.4% compared to 2021 and reached 1.43 trillion rubles. The company's net profit increased by 43.4%, to 284.57 billion rubles. Such data were published in mid-March 2023.

According to TATNEFT's reports, the company's revenue from oil sales in 2022 increased by 8.7% compared to the previous year and amounted to 950 billion rubles, from the sale of petroleum products - by 38%, to 823 billion rubles. The company attributes this to an increase in sales volumes and prices for petroleum products.

Net profit of TATNEFT for 2022 amounted to 284.57 billion rubles

It is noted that in 2022 the group recognized an impairment loss on property, plant and equipment and other non-financial assets in the amount of 30.23 billion rubles. In particular, we are talking about a loss from assets related to discontinued activities (Kama Tyres tire business sold to Tatneftekhiminvest-Holding) - 175 million rubles, with the development of extra-viscous oil fields - 13.64 billion rubles, the development of oil and gas fields outside the Republic of Tatarstan - 4.68 billion rubles, as well as from other assets totaling 2.69 billion rubles.

Oil production by TATNEFT Group in 2022 increased by 4.6% compared to 2021 - to 29.11 million tons. Average daily production amounted to 568 thousand barrels per day, compared with 543 thousand in 2021. Gas production increased by 5.6%, to 935 million cubic meters. m. The production of gas products decreased by 1.4%, to 1.04 million tons.

Revenue from the sale of oil to non-CIS countries in 2022 increased by 30%, to 337.6 billion rubles, revenue from the sale of oil to neighboring countries amounted to 0 rubles against 9.3 billion rubles a year earlier. Revenue from the sale of petroleum products to non-CIS countries jumped by 40%, to 302.3 billion rubles, to non-CIS countries - by 24%, to 16.8 billion rubles.

ANALYSIS OF THE COMPANY'S FINANCIAL CONDITION AND RESULTS OF OPERATIONS FOR THE YEARS ENDED DECEMBER 31, 2022 AND 2021

2021: Revenue growth by 59% to RUB 1.27 trillion

At the end of 2021, TATNEFT gained 1.27 trillion rubles (according to IFRS), which is 59% more than a year earlier. The company's net profit increased by 92% during this time and reached 198.41 billion rubles. Such data were published by the Russian oil and gas producer in mid-March 2022.

In 2021, TATNEFT produced 27.8 million tons (198.2 million barrels) of oil and 885 million cubic meters of gas, compared to 26 million tons (185.3 million barrels) of oil and 831 million cubic meters of gas in 2020. In 2021, the Taneko complex produced 12.2 million tons of petroleum products against 11.3 million tons a year earlier.

TATNEFT's revenue for the year soared by 59%

The Group exported approximately 45% of all crude oil sold, of which about 90% was transported through the Druzhba pipeline mainly to Poland and Slovakia, the rest through the Russian ports of the Black and Baltic Seas.

In general, oil supplies to non-CIS countries in 2021 decreased by 15% - to 7.3 million tons, the CIS countries - three times, to 330 thousand tons, sales in the domestic market increased by 30% - to 9.5 million tons.

Revenue from oil exports to non-CIS countries increased 1.5 times - to 259.5 billion rubles, the CIS countries decreased by 42%, to 9.4 billion rubles, revenues from sales in the domestic market increased 2.4 times, to 287.7 billion rubles.

The company's long-term liabilities amounted to 38.9 billion rubles at the end of 2021, which is almost half as much as a year earlier. At the same time, short-term increased to 250.26 billion rubles.

The total value of consolidated assets increased from 1.26 trillion rubles ($17.1 billion; the equivalent in American currency is indicated in the company's statements) as of December 31, 2020 to 1.5 trillion rubles ($20.22 billion) a year later. The total amount of consolidated liabilities increased from 431.85 billion rubles ($5.85 billion) to 558.91 billion rubles ($7.52 billion).^[2]

2020: Among the ten most profitable companies in Russia

2019: Among the most profitable shares among oil companies in Russia in 12 years

Dollar yield on Russian oil industry shares including dividends since Rosneft IPO.

2023

The Government of Ukraine handed over to Ukrnafta 3 companies belonging to Tatneft

The Government of Ukraine transferred to Ukrnafta 3 companies belonging to TATNEFT: Poltava-Capital LLC, Kharkov-Capital LLC and Tatneft-AZS-Ukraine. This was reported on August 15, 2023 by the TASS agency with reference to the deputy of the Ukrainian parliament Alexei Goncharenko (included in the list of terrorists and extremists of Rosfinmonitoring). Read more here.

TATNEFT bought Turkish fuel company Aytemiz Akaryakit for $160 million

On April 4, 2023, the Turkish holding Dogan announced the approval of an agreement to sell a 50% stake in the fuel corporation Aytemiz Fuel Distribution Inc. (Aytemiz Akaryakit) of the Russian oil company PJSC TATNEFT. Read more here.

TATNEFT bought Russian business Nokian Tyres for 285 million euros

TATNEFT bought the Russian business Nokian Tyres at a price of 125 million euros lower than previously announced. This became known on March 16, 2023. Read more here.

2022

Purchase of the First Rubber Plant

On December 2, 2022, TATNEFT and Uzkimyosanoat signed an agreement on the sale of a 100% tire plant. The Russian oil company bought from Uzbekistan "Birinchi Rubber Plant" (First Rubber Plant) and received 100% control over the enterprise. The cost of the agreement has not been announced. Read more here.

Seizure of assets in Ukraine

On May 31, 2022, the State Bureau of Investigation of Ukraine announced the arrest of 115 objects and corporate rights of the Russian Tatneft. The decision was made against the background of the ongoing special operation of the RF Armed Forces.

Selling the Tire Business

In mid-May 2022, TATNEFT announced the sale of tire business in Russia. The assets were bought by Tatneftekhiminfest Holding (acting as a coordination and expert center that determines the strategy for the development of the oil and gas chemical complex of Tatarstan), which is not part of the Tatneft group. Read more here.

2021: Purchase of the largest manufacturer of plastic containers in Russia "Ecopet" for 6.45 billion rubles

On June 8, 2021, TATNEFT announced the acquisition of the largest manufacturer of plastic containers in Russia, Ecopet. The transaction cost amounted to 6.45 billion rubles. Read more here.

Photo: www.tatneft.ru

2019: Launch of an accelerator for chemical and biotechnical business projects

On December 9, 2019 TATNEFT launched an accelerator for chemical and biotech startups. This is a joint project with Pulsar Venture Capital. Read more here.

2017

Oil production 28.9 million tons (+ 0.9  %)

For the period January-December 2017, oil production in Russia:

• Rosneft - 210.8 million tons (-0.3%),
• Lukoil - 82.2 million tons (-1.6%),
• Surgutneftegas - 60.5 million tons (-2.1%),
• Gazprom Neft - 59.9 million tons (+ 3.8%),
• TATNEFT - 28.9 million tons (+ 0.9%),
• Novatek - 11.8 million tons (-5.5%),
• Bashneft - 10.4 million tons (-3.4%),
• Russneft - 7.0 million tons (+ 0.2%),
• Neftegazholding - 2.1 million tons (-7.5%).

Gas production: 0.9 bcm (-3.7%)

Gas production in Russia in 2017 amounted to 690.5 billion cubic meters. m (+ 7.9% vs 2016).

Production indicators of companies in 2017:

• Gazprom - 472.0 billion cubic meters. m (+ 12.4%) or 68.4% of total production in Russia.
• Rosneft - 47.5 billion cubic meters. m (+ 1.8%),
• Novatek - 45.5 billion cubic meters. m (-9.1%),
• Lukoil - 21.1 billion cubic meters. m (+ 14.9%),
• Gazprom Neft - 15.3 billion cubic meters. m (+ 13.4%),
• Surgutneftegas - 10.0 billion cubic meters. m (+ 2.0%),
• Russneft - 2.4 billion cubic meters. m (-1.1%),
• Neftegazholding - 1.4 billion cubic meters. m (+ 0.4%),
• TATNEFT - 0.9 billion cubic meters. m (-3.7%)^[3].

2015: Growth in oil production by 2.7% to 26.9 million tons

In 2015 TATNEFT increased oil production by 2.7% in annual terms to 26.9 million tons.

Associated gas collection increased by 15.9 million cubic meters. m and amounted to 899.5 million cubic meters. m (+ 1.8%).

New drilling in 2015 amounted to 915.7 thousand meters (21.5 thousand meters more than the plan), of which production drilling - 3.5 thousand meters, exploratory - 3.2 thousand meters.

The strategic goal of the company is to increase the annual volume of oil production to 30 million tons.

According to the annual report of the company for 2012, the average headcount of the parent company of TATNEFT amounted to 21.1 thousand people, and the total headcount of the group - 77.0 thousand people.

Information Technology

2022

Master's Degree Opening Plan "Machine Learning Engineering"

TATNEFT has become an industry partner of the opening of the Master's Degree in Machine Learning Engineering (AI Talent Hub). This was announced on August 2, 2022 by Napoleon IT.

This is a joint project of TATNEFT with Napoleon IT, ITMO University and Almetva State Oil Institute. Preparations will go in an inverted format - from Junior to Middle specialists. As part of the interaction between the companies, a joint AI laboratory for students on data analysis in the oil industry ALMET Data Team will be created.

As part of the visit of Dmitry Botov to Almetyevsk, project manager of AI Talent Hub, and Konstantin Price, commercial director of Napoleon IT, the organizations agreed that 10 participants in the AI Talent Hub master's program will study at ITMO University online, work in the laboratory building of the Almetyevsk State Petroleum Institute, living on the campus of the Higher Oil School.

An AI laboratory will be created for students on data analysis in the oil industry of ALMET Data Team, they will have the opportunity to become potential employees of TATNEFT, will participate in current industry projects and will undergo a paid internship in ALMET Data Team project teams.

The collaboration of TATNEFT with the AI Talent Hub project meets the main values of the Company: take high positions in the fields of Data Science, Data Driven, create a world-class competence center for AI and data analysis in the oil industry, attract talents, scientists and experts in AI for long-term cooperation, prepare new talents and develop AI/ML engineers and software developers on real data under the guidance of master's mentors, graduate school and DPO.

Artificial intelligence and biotechnology are promising areas that can change the entire existing industrial structure. TATNEFT seeks to introduce the latest developments in these areas. Our task is to train highly qualified specialists who will create their own solutions, ― commented Andrey Glazkov, Head of the HR Department of PJSC TATNEFT.

We see that TATNEFT has a huge potential for working with heterogeneous data, data engineering and machine learning and a significant reserve in modeling, in building digital twins in oil production processes, modeling and digitization of data taken from wells from drilling points. The processes of oil production and oil recovery are labor-intensive and extremely expensive. To optimize them using artificial intelligence methods, we will connect talented guys from AI Talent Hub who are ready to join complex data projects, as well as mentors and experts from AI Talent Hub. We hope, as a result of cooperation, to create a competence center in Almetyevsk, which will solve complex problems in projects using machine learning technologies, - commented Dmitry Botov, project manager at AI Talent Hub.

The creation of strong outstanding specialists is possible only on the real tasks that TATNEFT possesses. We will fill the shortage of personnel on the market and train specialists for the company who will develop new technologies and products with artificial intelligence on the basis of TATNEFT. The trained personnel are designed to solve tasks relevant to the industry and launch new technological products on the domestic and global market, - commented Konstantin Price, Commercial Director of Napoleon IT.

In September, it is planned to launch a joint project on AI and data analysis in the oil industry and biotechnology. To implement it, Senior/Middle + mentors from Napoleon IT and TATNEFT managers will be connected to AI Talent Hub undergraduates. The goal is to defend the first results of MVP applied projects at the Rock & Science Conference in December, which will show the real effect of implementing solutions based on data analysis.

New Deputy General Director for Digital Development - Evgeny Zvezdin

In July 2022, Yevgeny Zvezdin was appointed deputy general director of TATNEFT for digital development, the company said. Zvezdin's predecessor in this post was Vitaly Gataullin, who oversaw the digital development of TATNEFT since 2019. Read more here.

2021: Receiving a grant in the amount of 280 000 000 rubles from RFRIT

Russian Information Technology Development Fund (RFRIT) On January 12, 2021, he announced TAdviser the results of two competitive selection for grants: support for projects for the implementation of domestic IT solutions (PP RF No. 550) and support for development projects (domestic software PP RUSSIAN FEDERATION No. 1185).

Project "Integrated Digital Platform for Geological and Technological Monitoring of Oil and Gas Field Development" in TATNEFT.

Grant amount: 280 000 000 rubles

2020: How COVID-19 accelerates digitalization in the company

On May 6, 2020, it became known about various digitalization projects in the Russian oil industry. Companies have become faster to introduce information technology due to the COVID-19 coronavirus pandemic, which has dire consequences for the economy. Read more here.

2019: Digital Development Executive Appointment

In June 2019, TATNEFT announced the appointment of Vitaly Gataullin as Deputy General Director for Digital Development. This is a new position in the company. Read more here.

2015: Partnership with "1C"

On August 12, a cooperation agreement was signed in Kazan IT Park between Deputy Prime Minister - Minister of Informatization and Communications of Tatarstan Roman Shaikhutdinov, General Director of TATNEFT Nail Maganov and Director of 1C Boris Nuraliev, aimed at import substitution.

"By signing this agreement, we are guided by the successful experience of PJSC TATNEFT in the effective implementation of large projects in the oil and gas industry and the potential of 1C as a leader in the domestic market in the field software of business. The Ministry of Informatization and Communications of Tatarstan in this partnership acts as a consultant to the parties, carrying out information and organizational support for joint projects, - said Shaikhutdinov. - It is important for us that Russian information products of production management are introduced in the oil and gas industry. Cooperation between TATNEFT and "" is 1C not only work in the direction of import substitution, but also the development of promising areas of informatization of Tatarstan. "

The agreement was concluded for an indefinite period and entered into force from the moment of its signing, according to a statement on the website of the Ministry of Information and Communications of Tatarstan.

2014: Implementation of the "Practice" EDMS

As part of the office process optimization program, TATNEFT introduced the Praktika electronic document management system in 2014, which employs more than 16 thousand employees, the company said in its 2014 report.

2013: Key IT Projects

According to the annual report of TATNEFT, the list of the most important projects of the company in the field of IT in 2013 included works in the following areas:

• Corporate Management System of TATNEFT Based on SAP Products

In 2013, TATNEFT completed work on standardization of the system's work in all structural divisions of the company, including planning, adjustments and monitoring of expenses, unification and standardization of reporting forms, variability of forecasting calculations to quickly respond to changes in internal and external factors.

In order to implement the recommendations on formation in tax accounting of direct expenses for production and sale of oil, associated petroleum gas, petroleum products, other finished products, works and services, TATNEFT amended the existing SAP decisions in terms of tax accounting. The test system calculates the cost of finished products, works (services), taking into account the new closing scheme for tax accounting purposes.

As part of the automation of labor protection processes and their integration with the processes of maintaining an employment contract, solutions for conducting medical examinations, registering accidents and occupational diseases, and conducting measures for training labor protection and industrial safety were transferred to pilot operation.

According to TATNEFT, as of the end of 2013, about 5 thousand users work in its corporate management system on the basis of SAP.

• Development of design project automation system

Expansion of the SAPP information system functionality designed for automation, accounting and control of the process of creation, performance and completion of design and survey works performed by structural subdivisions and external contractors.

In 2013, SAPP was integrated with the CIS of TATNEFT-Oil Production in terms of implementing the possibility of transmitting information on changing the status of the project to SAPP and providing wells with projects, and a mechanism for connecting third-party general contractors and subcontractors to SAPP was worked out. Also in 2013, a file storage was organized with the distinction of access rights and the possibility of distribution by sections (projects).

• Creation of an information and analytical portal in the field of well construction

The system provides a single information space that consolidates the data required in the well construction process from the various IT systems used in the production activities for the well construction customer. The data provided provide monitoring of the general parameters of the well construction process, control of the drilling direction (geonavigation), control of the onshore drilling process parameters, control of the cementing process parameters.

• ACS "Drilling Operations"

In 2013, TATNEFT automated the processes of preparation of the main sections during the development of group projects for well construction, author's supervision of the implementation of design solutions for drilling fluids, maintenance of the schedule for the preparation of design documentation, engineering calculations for bitumen and multi-hole wells.

In addition, the functionality of the components "Terms of Reference (SOW)," "Well Construction Program (WBS)," "Drilling Work Order," "Well Construction Estimate," "Construction Time Management," "Administration of Element Estimate Standards" has expanded, which made it possible to reduce the time for preparing design estimates and calculations, integration support.

The Drilling Unit Preparation Schedule component, the Actual Work Order Preparation Tool were also upgraded and integrated with the ARMITS CIS in terms of actual operational data, and the data on NGDU Almetyevneft in the Well Case component were structured and systematized.

• Information support and automated control of Ashalchinskoye field process facilities for optimal development of extra-viscous oil

Last year, the integrated information environment of the Ashalchinskoye extra-viscous oil field project was developed and put into commercial operation. The presentation of process diagrams (web SCADA) for the field facilities was implemented to monitor the processes with the output of operational information on wells and boiler houses, the presentation of matrix information on daily production by wells with an indication of the share of the well in total production was implemented.

A set of specialized graphics modules and representations was also developed to display information on technical processes at the field for the prompt receipt of information and organization of the interaction process of project participants.

2012: Key IT Projects

• Single enterprise management system based on SAP products

According to TATNEFT, at the end of the reporting period, more than 3 thousand users work in its systems on the basis of SAP. In 2012, on the basis of this platform, a system for planning, adjusting and monitoring the company's expenses was put into pilot operation, and work continued to transfer structural units to a single information environment based on SAP. The company expects that the developed and adapted standard design solutions in terms of automation of the financial and economic activities of the divisions will ensure end-to-end operational accounting and control of in-house settlements between them, the formation of consolidated financial statements for the company, as well as reduce the cost of integrating and supporting solutions.

In 2012, SAP operational accounting solutions were complemented by the Executive Monitor information and analytical system based on the SAP Business Objects product line, which allows the manager to work with reporting interactively, without "unproductive distraction of employees," the company said in a report.

• Investment Planning and Monitoring

In 2012, we continued to improve our investment planning and monitoring system. In particular, the process of managing an investment project at all stages of its implementation was automated using the SAP RPM (Portfolio and Project Management) solution, and work began on automating the process of predicting investment sources.

In addition, a software tool was implemented in the TATNEFT-Oil Production CIS system to build forecasts of basic production and predict performance indicators of geological and technical measures taking into account actual well performance indicators and macroeconomic conditions.

In 2012, the Company also continued to refine the Modem software package, which will allow for the design and calculation of estimated well construction costs, monitoring and analysis of the causes of changes in cost indicators in automatic mode.

• Production

In this category TATNEFT allocates an automated system of drilling operations management, which allows to control the process of well construction from planning and design to commissioning, as well as to carry out operational monitoring of technical and economic indicators.

In 2012, according to the company, its integration with other corporate IT systems was carried out and tools for accounting for unproductive time, rationing complications, conducting engineering calculations, preparing SOWs, drawing up estimates and well construction programs were developed. When upgrading the system, the specifics of wells for the development of extra-viscous oil fields were taken into account and the information security of the solution was strengthened.

In 2012 TATNEFT also carried out experimental works on telemetry of seven wells with transfer of information in real time to the information and analytical portal of the company with its subsequent analysis using sector geological and hydrodynamic models. This technology makes it possible to plan the trajectory in real time during drilling based on the actual geological section.

In 2012, we also initiated the creation of a repository of historical data of the main production, deployed computing capacity, and tested the system for the formation of complex reports and technologies for implementing business analytics tasks. In addition, a new version of the corporate system of automated workplaces of the engineering and technological service (KIS ARMITS) was put into operation, which has been developing since the beginning of the 90s.

• Design

Previously, the company introduced a design automation system and a distributed archive of project documentation, and in 2012, the systems were combined and functionality was improved to provide great opportunities for end users. In particular, the possibility of reusing the design documentation at the stage of development of detailed design documentation was automated, a mechanism was developed that allows to form an electronic original of the design and detailed design documentation in all CAD standardized in TATNEFT, the solution was replicated to the company's structural divisions and a number of other functions were implemented.

• Metrological support of production

In 2012 TATNEFT carried out work to include the Company's automated system of commercial electricity metering in the state register of measuring instruments.

• Development of the vehicle navigation system

According to the results of 2012, more than 8.2 thousand vehicles of TATNEFT Group of Companies were equipped with satellite navigation system. The introduction of this system ensured a reduction in the number of unreasonable orders of equipment, a decrease in the average daily mileage of equipment by 25%, according to the company's annual report. Work is also underway to implement a fuel flow control system. During the reporting period, 17% of equipment and 55 drilling rigs were equipped with fuel consumption sensors.

• Mobile Team and Personnel Management System

Since the beginning of 2012, personal satellite navigation units have been used in seven structural divisions and service enterprises of TATNEFT. There are 264 personal satellite monitoring units in operation, which is 85% more than in 2011. Personal units are used in pipeline bypass, well construction control, power line bypass control, etc.

2011: Partnership with SAP

In June 2011, the Board of Directors of the SAP AG concern of TATNEFT was assigned the status of a strategic partner - Premier Customer Network SAP. This status is assigned in recognition of the success of current SAP projects and the professionalism of the implementation and project management team. Companies such as Shell, BP, Exxon, BASF, Gazprom, Rosneft, Lukoil have a similar status.

The new Premier Customer Network status implies a transition to a fundamentally new level of interaction between companies - now one of the members of the board of directors of SAP AG (Senior Executive Sponsor) will oversee the relationship between companies within the framework of the Governance Model agreed by the parties.

The relationships of companies will move to a new level, implying long-term partnerships that include joint strategic planning of activities. In addition, the new status implies the exchange of experience and best practices of the global oil and gas industry with other members of the Premier Customer Network, TATNEFT's participation in SAP's industry oil and gas innovation councils. The company will be able to attract the best industry and product specialists from various departments of SAP to participate in projects.

"We are pleased to welcome you to your new role as a strategic partner of SAP AG. Assigning this status will allow us to consolidate the success of current projects and attract the world's best experts to participate in new campaigns. I am confident that our partnership will be long and fruitful, and you will be able to share the experience of successful projects with other members of the Premier Customer Network, "said Steve Tsikakis, Senior Vice President of SAP

Yunir Giniatullin, SAP Project Manager of OAO TATNEFT, noted: "The assignment of the Premier Customer Network SAP status is a natural result of the work of the joint team of OAO TATNEFT, SAP and Energy Consulting, the general partner for the implementation of SAP solutions in OAO TATNEFT. We expect that the new level of interaction with the vendor will not only allow us to implement the current projects even more efficiently, but also significantly expand the opportunities for the development of SAP systems in OAO TATNEFT. "

Chairman of the Board of Directors of Energy Consulting Mikhail Ponomarev said: "A new level of interaction with SAP of our key client, OAO TATNEFT is an important event for Energy Consulting and evidence of the success of our joint work. OAO TATNEFT, traditionally one of the most high-tech companies in the Russian oil and gas industry, has received additional opportunities for further development of modern management technologies. "

Notes