Company’s 2019 oil production:218.4 million barrels
TANECO’s yearly production:15.3 million tonnes
Tatarstan’s integrated oil major
An integrated oil and gas company headquartered in the Republic of Tatarstan, Tatneft is the fifth-largest oil producer in Russia. The company is engaged in oil and gas production, refining, petrochemicals and hydrocarbons trade. Tatneft controls around 8% of Russia’s total oil production and has an estimated 7.32 billion barrels of oil reserves.
Tatarstan star: Tatneft’s crude output accounts for 80% of oil produced in Tatarstan.
Drive to drill: The company commissions around 600 new wells per year. As of 2020, its success rate for exploration drilling was more than 85%.
Refining and retail: Tatneft’s key refining facility is the TANECO complex, which produces high-quality diesel among other products. The company has a retail network of 802 filling stations.
Technology: On its path to becoming a technology leader, Tatneft is focused on hydraulic fracturing and technologies to develop unconventional and hard-to-recover reserves such as super-viscous oil.
Tatneft’s strategy involves stabilising oil and gas production from fields under development; developing new oilfields, including high-viscosity and hard-to-recover oilfields in the territory of Tatarstan; expanding the company’s resource base outside of Russia; increasing petrochemicals production; modernising and expanding oil refining; and pursuing innovation in engineering.