It is repored that Tatneft registered its branch in Turkmenistan.

It should provide the realization of the contract signed with Turkmenneft in November 2010 on the Goturdepenebit sector servicing. The parties developed the 1st year production program which should be carried out under Elkhovneft control.

Tatneft is ranked as the 6th oil producer in Russia. It has 790 million tonnes in proved reserves. In 2008 25.766 million tonnes were gushed out, revenues are assumed to gain 217 billion, operating profit RUB 49 billion. The share capital is worth RUB 2.33 billion split in 2178690.7ths common and 147,508,500 preferred stocks of RUB 1 par. The major holder is Svyazinvestneftekhim.

(Sourced from AK&M)