MOSCOW, November 29 (RIA Novosti) - The proven recoverable reserves of Russian oil major Tatneft are 837.1 million metric tons of oil, but could be as much as 203.9 million tons, the company said referring to data by consulting company Miller and Lents.
Tatneft's board considered a program of exploration work for 2006-2010 to ensure the stability of the company's oil production volumes and envisions exploration work in Russia and abroad. Tatneft will concentrate 87% of its work in the republic of Tatarstan.
The board session also considered budget execution for this year and the 2006 budget.
Tatneft increased its oil production by 1.1% in the first nine months of 2005, up to 19.61 million metric tons on last year. The company had no debts to budgets as of October 1.
