Azerbaijan, Baku, April 22 / Trend A.Taghiyeva /
The Turkish State Petroleum Corporation (TPAO) will deal with the development of an oil field in Russia, Turkish Energy and Natural Resources Minister Taner Yildiz said on Monday, The Lira newspaper reported on Monday.
According to the report, the company will deal with the development of the field within the Volga-Ural oil and gas area in the 'Baytugan' field.
According to Yildiz, TPAO will conduct work on the field jointly with the Hungarian oil company MOL. It is expected that as a result of this work on the oil production, the Baytugan field will increase from 6000 to 12,000 tons per day by 2040.
Yildiz said the agreement to develop the field which has been in operation since 1950, will be signed with the Russian side in late May, 2013.
In addition, TPAO will conduct oil exploration on the Libyan Fizan oil field, Yildiz said.