The Agreement between the Government of the Samara region and Open Joint Stock Company TATNEFT was signed on August 7, 2008 for a period of 5 years. The Supplementary Agreement has been signed to further develop mutually beneficial partnership between the Company and the Government of the region.
According to this document TATNEFT Company shall ensure crude oil production in the Samara Region in the amount of not less than 289 thousand tons in 2014, the annual growth of hydrocarbon reserves shall not be less than the volume of the annual production.
JSC TATNEFT shall ensure implementation of investment projects related to development of new oil and gas fields, stable growth of innovative products output of the Company's enterprises in the Samara region.
The two sides have also fixed their commitments to further implement environmental projects aimed at improving the rational use of associated petroleum gas and meeting the requirement of reaching at least 95 % level of APG utilization.
The document defines the objectives for the further implementation of the agreed policy in employment and social security of workers, support of using the voluntary health insurance program and implementation of regional sports and cultural projects.
In turn, the Samara Region Government shall support the Company's investment activities carried out in the region within the limits established by the federal and regional legislation.
The long-term plan of TATNEFT concerning the Samara region envisages construction of an associated petroleum gas (APG) treatment plant at Irgiz oil field, which shall significantly improve the ecology of the region. The term of the plant commissioning into commercial operation, taking into account fulfillment of all the installation and commissioning works, has been scheduled for July next year. The level of APG rational utilization should reach 95% by 2016.
Another large-scale project is construction of a 10 km long pressure pipeline from the OOO "Tatneft-Samara" oil loading terminal to the initial water separation unit of NGDU "Nurlatneft". The works are being carried out according to the schedule with the line pressure testing already been completed and the pipeline will be put into operation in the near future.