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Thursday, October 11, 2007

Oil major Tatneft to maintain annual oil production at 25.4mn tons in 2008-2010

10.04.2007 - IntelliNews Today - During 2008-2010, Tatneft plans to stabilize its annual output of crude oil at the level of 2006, which means at 25.4mn tons. The company will not be able to raise output. There are several problems, which constrain the production growth. The depletion rates of its fields are already substantial, so in order to lift production the company need to enter new regions which does not seem possible as of now. Currently, Tatneft puts a lot of effort in development of its petrochemical segment. To remind you, by 2008 the company plans to build a new petrochemical processing plant in Tatarstan. The refinery’s capacity is projected at 7mn tons of oil per year.

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