Tatarstan-based integrated producer built around the giant, mature Romashkino field, backed by TANECO refining and a tire/petrochemical arm; historically low-cost with strong returns and high dividend payouts.
Sanctioned; Tatarstan-linked; figures estimated.
Its EV/EBITDA of 2.8x is below the 5.9x median across the 142-company universe, the free-cash-flow yield of 16.4% is higher than the 6.5% median, and at $2.58/boe of proved reserves it is cheaper than the $13.51/boe median.
On a balanced screen across the universe, Tatneft scores 61/100, strongest on valuation (93/100). Sub-scores: value 93, quality 74, growth 41, risk 93 (higher = riskier). Note: sanctioned / uninvestable for Western acquirers — shown for completeness only.
Tatneft holds approximately 6 billion boe of proved (1P) reserves with FY2025 production of about 580 thousand boe/d (90% liquids), a reserve life of roughly 28.3 years. Break-even: ~$25 (Brent breakeven) — mature low-cost fields + TANECO refining
For Tatneft, no SEC standardized measure is disclosed (non-US filer or listed NOC), so a public-source proved-NAV floor is not computable from US filings. See the interactive screener's NAV tab for peers where an SEC figure exists.
| Country / region | Prod. share | Country risk | Key jurisdiction risk |
|---|---|---|---|
| Russia | 100% | 92 | Sanctions, expropriation, export bans, war; effectively uninvestable. |
Enerquill Advisory provides asset valuation, petroleum fiscal modelling and risk analysis for oil, gas and LNG transactions — including bespoke, deal-specific NAV and acquirer–target screens that go well beyond this public data.
Work with us →About Enerquill| Asset | Location | Type | Notes |
|---|---|---|---|
| Asset | Country | Type | note |
| Romashkino field | Russia | Upstream | giant mature legacy oilfield; core production base with heavy EOR |
| Super-viscous / bitumen oil | Russia | Upstream | heavy/high-viscosity oil development in Tatarstan |
| Bavly & other Tatarstan fields | Russia | Upstream | portfolio of mature onshore fields |
| TANECO refinery (Nizhnekamsk) | Russia | Downstream | ~16-17 mtpa integrated refining/petrochemical complex |
| Nizhnekamskshina (Tatneft tires) | Russia | Downstream | tire manufacturing and rubber/petchem |
| EOR / new drilling program | Russia | Upstream | enhanced oil recovery to sustain mature-field output |
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Production (mboe/d) | 500 | 560 | 570 | 580 | 580 |
| Proved reserves (bnboe) | 6.50 | 6.40 | 6.30 | 6.20 | 6.00 |
| Revenue ($bn) | 15.0 | 16.0 | 17.0 | 19.0 | 18.0 |
| EBITDA ($bn) | 4.5 | 5.0 | 5.2 | 5.8 | 5.5 |
| Net income ($bn) | 2.6 | 3.0 | 3.1 | 3.4 | 3.0 |
| Free cash flow ($bn) | 2.0 | 2.5 | 2.6 | 2.9 | 2.7 |
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Primary: Tatneft FY2025 annual report / results release and investor disclosures; market data via public providers (~mid-2026). Figures are best-estimates pending source verification.
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