OREANDA-NEWS. January 30, 2014. A regular meeting of the Board of Directors of JSC TATNEFT chaired by R.N. Minnikhanov, President of the Republic of Tatarstan, was held in Kazan.

The Board of Directors reviewed the results of JSC TATNEFT's budget execution for 2013 and approved the budget for February of the current year.

The Board of Directors was presented the information about organization of equipment production at the Bugulma Mechanical plant (BMZ). Extensive work on technical upgrading, cost optimization, more efficient use of production space and application of lean manufacturing methods had been carried out at the Company during the last three years.

Successful implementation of measures elaborated at BMZ had resulted in significant improvement of technical and economic parameters,   ensuring the growth of the pipe and tubular production by 13% and manufacturing of oil and gas processing and oil field equipment by 28%. The productivity growth in 2013 amounted to 36.4% versus the planned level of 27.3%.
The Board of Directors discussed a number of issues related with preparation of the annual general shareholders' meeting on the results of 2013.

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