Oil Summit 2018

12 July 2018, Thursday

Today on July 12, Karabash settlement in the Bugulma District of the Republic of Tatarstan hosted the annual oil summit. The main topic of the traditional meeting with the participation of the Tatarstan President and representatives of the republic’s oil industry was “Human Capital as a Basis for Technological Breakthrough in the Oil and Gas Complex of Tatarstan”.

Rustam Minnikhanov noted that in the present conditions of high oil prices the factor determining the company's success is the cost of production. Therefore, only active introduction of innovations will allow the republic's oilfield workers to ensure efficient oil production and expanded replacement of hydrocarbon reserves under conditions of the mature oilfield development stage and a qualitative deterioration in the structure of the resource base.

It is important to note that the growth rate of the oil refining industry in Tatarstan in the first half of 2018 was 113% compared to the level of the first half of the previous year.

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