TATNEFTOAO Tatneft (Tatneft) is a producer of crude oil in Russia. Substantially all of its production and other operations are located in Tatarstan, a republic of Russia situated between the Volga River and the Ural Mountains and located approximately 750 kilometers southeast of Moscow. The Company holds most of the exploration and production licenses and produces substantially all the crude oil in Tatarstan. As of January 1, 2003, its total proved reserves of crude oil were approximately 5,972 million barrels. In addition to crude oil production, Tatneft is engaged in refining and has been developing a network of retail service stations. It also created a petrochemicals holding division centered on a tire producer, OAO Nizhnekamskshina, and provides banking services through its subsidiaries, OAO Bank Zenit and Commercial Bank Devon-Credit. Its operations are conducted through four segments: exploration and production, refining and marketing, petrochemicals and banking.