OREANDA-NEWS. June 28, 2010. The meeting of the Board of Directors of OAO TATNEFT in the new approved format was held in Almetyevsk immediately after the completion of the Company's General Shareholders' Meeting, which elected R.N. Minnikhanov, President of the Republic of Tatarstan, as a Chairman of the Board, reported the press-centre of TATNEFT.     

The Board of Directors reviewed the results of OAO TATNEFT budget execution for five months of 2010, and approved the budget for July and the third quarter of the current year.

The results of the "Energy-Efficient Economy" program, which expires this year, have been announced at the meeting, and the TATNEFT's resource saving program till 2020 has been presented. As a result of fulfilling a complex of organizational and economic measures in the field of resource saving the Company saved more than 10 billion rubles during the ten previous years period with 5.3 billion rubles saved in terms of materials and natural resources and 4.8 billion falling on the fuel and energy resources saving.

The Board of Directors listened to the information on the progress of the Minnibaevo gas processing plant reconstruction project.

The Board of Directors Discussed and adopted a plan of the Board of Directors work for the second half of 2010.
 
The Board of Directors reviewed and approved the composition of committees of the Board of Directors of OAO TATNEFT: Audit Committee (Chaired by S. Ghosh, Managing Director, "SGI Group Ltd", Member of the Board of Directors of OAO TATNEFT), HR and Remuneration Committee (Chaired by D. W. Waygood, Director ICDS Ltd., Member of the Board of Directors of OAO TATNEFT), and Corporate Management Committee (Chaired by V. I. Gorodniy, Deputy General Director, Head of Property Department of OAO TATNEFT).

The meeting also discussed several other issues of OAO TATNEFT activity.