PJSC Tatneft: The Board of Directors reviewed the company’s innovative development strategy

The board meeting chaired by RN Minnikhanov, President of the Republic of Tatarstan, was held in Kazan on January 27.

The Board of Directors reviewed the results of the budget execution of PJSC TATNEFT for 2021 and approved the budget for February 2022.

There was the information provided at the meeting on the results of the activities of the internal audit department of PJSC TATNEFT for the past year and approved the work plan of the department for 2022. The external evaluation of the activities of the department of The company’s internal audit has demonstrated full compliance with international professional standards and the Code of Professional Ethics of the Institute of Internal Auditors.

The management system formed in TATNEFT based on a risk-based approach helps to control risks, plan actions based on their assessment and make optimal and rational business decisions aimed at achieving the strategic objectives and operational results of the companies. sectors of activity concerned and of the Company. in general.

Information on the implementation of the TATNEFT innovative development strategy from 2018 to 2021 was presented to the participants of the meeting. A systematic approach to technology development enables the TATNEFT Group to increase the potential for innovative growth in all business and functional areas.

All projects developed by the Company are assessed in terms of ESG risks and contribution to a sustainable energy future. Among others, current technical developments include promising technologies for the recovery, cleaning and transformation of CO2 into various types of marketable products, including those implemented at the TANECO oil refinery.

The Company develops a system of “open innovations” to respond to current industry and new global challenges. TATNEFT’s partner network includes more than 130 strategic partners.

The successful fulfillment of the company’s technological tasks is also ensured by the systematized integration of technologies. The synergistic effect is achieved through the application of complex technological developments and IT solutions. One of the examples is the application of complex technologies in the tank pressure maintenance system, where, thanks to the introduction of integrated modeling, energy-saving equipment and other innovative solutions, the consumption of electricity is reduced by 2 times, greenhouse gas emissions are reduced by 6.5 times and the construction cost of the pipeline is reduced by 30%.

The technological potential of the Company and the expansion of the geography of presence of the Company are also demonstrated by patents. TATNEFT registered the rights to 1,336 pieces of intellectual property during the period from 2018 to 2021. 431 relevant applications were submitted in 2021, of which 34 were registered outside the Russian Federation. Growth represented 77% compared to 2017.

TATNEFT’s innovation strategy will pay particular attention to the development of intra-company collaborations of the Company’s research, engineering, marketing and production divisions. A developed ecosystem will make it possible to implement complex technological solutions using the intellectual and productive resources of the composite, mechanical, digital, biotechnological, etc. clusters.

TATNEFT will focus on the implementation of regional and federal innovation development programs to solve large-scale production problems for the benefit of the Republic and the country within the framework of the innovation strategy of the business.

The Board also considered a number of other matters about TATNEFT’s current activities at the meeting.

Forward-Looking Statements and Disclaimers: This press release contains certain statements regarding future events and expectations, which are by their nature forward-looking statements. Any statement contained in this press release that is not a historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements expressed or implied by these forward-looking statements differ materially. . PJSC TATNEFT undertakes no obligation to update these forecasts to reflect actual results, changes in assumptions or changes in factors affecting these statements. Amounts and monetary interest shown or referenced in this press release may be given on a rounded basis and, accordingly, they may differ from the actual figures and results contained in the Company’s reporting documents. PJSC TATNEFT shall have no obligation to adjust or refund any amounts which may differ between those specified in this press release and the relevant reporting documents, and all payments shall be made by PJSC TATNEFT exclusively in accordance with the decisions of the bodies competent management of the Company. in the amount and in the manner specified in those decisions.

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