Tatneft Sets Production Plans For 2002

Tatneft intends to produce 24.064m tons of oil and 704m cubic meters of gas, establish 404 new producing and 328 injection wells in 2002. This was declared at a session of the Board of Directors of the company in Almetyevsk on October 24, the press service of Tatneft reported to RosBusinessConsulting. According to chief geologist of the company Rais Khisamov, according to estimations of the Miller & Lents audit company, the volume of Tatneft's oil reserves reach 835m tons as of January 1, 2001, i.e. there will be enough oil for around 40 years. In addition, the Board made a decision that Tatneft will participate in the process of establishing a glass-fibre pipe producing factory, in which Tatneft will have a 51% stake.