OREANDA-NEWS. The Board of Directors reviewed the results of executing the budget of the Company for February/March and approved the budget for April and the 2nd quarter of 2007.

The Board listened to and discussed the information about introduction of new technologies in the areas of the oil fields development and operation.  Inter alia these technologies include methods of non-stationary cycling waterflooding,  hydraulic fracturing of formation, drilling of horizontal and   multibranch downhole splitters as well as a number of other up-to-date innovations.

The Board of Directors positively appraised the efficiency of the technologies mentioned and assigned the Executive Directorate to proceed with the work on their further introduction into the production field.

The Board of Directors reviewed the issue of OAO TATNEFT investment projects formation in the Special Economic Zone "Alabuga" (Republic of Tatarstan). The Executive Directorate of the Company was assigned to continue working with these projects.