Tatneft has increased its proven oil reserves

​The company will increase oil extraction and will go on working on scavenger oil.

Tatneft, by the conclusion of the independent auditing company Miller&Lents, increased its proven oil reserves in 2015 to 869.8 mln tons, is said in the company’s report. As of the beginning of 2015 they were assessed at 851.5 mln tons. Thus the growth per year made up 2.1%.

At the current level of oil extraction, the reserves are enough for 32 years, that is called to be a reliable potential for a long-term and stable development. The coefficient of recovery of proven reserves in 2015 was 166%.

The main strategic goals for 2016 and coming years are enumerated in the report. Among them are the growth of oil extraction and increase of oil recovery at the traditional deposits in Tatarstan by means of expanded implementation of new equipment and technologies. The priority goal is also the development of super-viscous oil deposits with the output of 2 mln tons a year. The industrial and experimental works on the extraction of the Domanic (shale) oil extraction will go on.

The company plans to provide the growth of profitable oil extraction at the reduction of operational expenditure and investment.