OREANDA-NEWS.October 31, 2011. A regular meeting of the Board of Directors of TATNEFT, chaired by R.N. Minnikhanov, President of the Republic of Tatarstan - Chairman of the Board of Directors of TATNEFT, was held in Kazan (Tatarstan), reported the press-centre of TATNEFT. 

The meeting reviewed the budget execution of TATNEFT for the first nine months of 2011 and approved the budget for November of the current year.

The Board of Directors was briefed on the progress of drilling horizontal wells and introduction of equipment for co-mingled strata production at the fields operated by the Company.

The meeting discussed the progress of the project implementation to support small and medium business by TATNEFT. This project was approved in 2005 and it includes the following areas: establishment of small and medium sized business enterprises on the basis of withdrawing non-core activities from the oil and gas production segment, interaction with small oil companies, creation of techno-parks (technology parks) and assistance to small businesses through the Entrepreneurship Development Fund. The large-scale work has resulted in creation of more than one hundred competitive enterprises, which engage more than 40 thousand employees.

The Board of Directors also considered a number of other issues of TATNEFT activity.