Tatneft Capital Expenditure May Rise in 2014

Tatneft’s capital expenditure may rise to 55bn-60bn rubles in 2014, Prime has reported, citing Vasily Mozgovoy, an assistant to Tatneft CEO.

He did not say how much was spent in 2013, but he recalled that capital expenditure was at around 50bn rubles in 2012.

Mozgovoy said capital expenditure in 2014 would be divided half and half between oil production and oil processing. In particular, Tatneft is going to launch a hydrocracking installation and to increase production at the Ashalchinskoye deposit.

Copyright: Terminal, 2013