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The Board of Directors of TATNEFT Discussed the Prospects for the Companys Innovative Development

July 20, 2018/ 10:06

Kazan. A regular meeting of the PJSC TATNEFT’s Board of Directors chaired by R.N. Minnikhanov, President of the Republic of Tatarstan, was held in Kazan on July 20, 2018. The meeting reviewed the results of the Company's budget implementation for five months and approved the budget for the third quarter of this year.

The Board of Directors discussed the innovative development strategy of the TATNEFT Group. Currently, the Company outlined roles, functions and responsibilities of the innovative management model participants for identification of the medium- and the long-term points of growth and threats. The project teams were assigned the task of forming (digitizing) technological challenges associated with specific technologies, equipment and processes, as well as the willing to move ahead with developments and investment projects. A range of innovative service providers was expanded to renew the technology portfolio: research institutes, research and design organizations, engineering companies, technology partners.

Proposals on improving the effectiveness of relations with investors were offered to the meeting participants, the Company said.

They emphasized the need to improve targeting of the investors, the introduction of modern communication tools, as well as the involvement of the TATNEFT business areas’ leaders of in the process of communicating with investors and analysts.

The analysis data of the first stage large-scale reconstruction implementation of OOO "Nizhnekamsk CHP" was presented to the meeting. The Board of Directors considered the measures to ensure further growth of the enterprise's production indicators and increase the company’s competitiveness in the electricity market.

The Board of Directors also considered a number of other issues of the Company's activities.

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