The Russian oil company Tatneft, along with the State Oil Company of Azerbaijan (SOCAR), will develop the Bibi-Heybat onshore field, said the company's CEO Nail Maganov, Caspian Energy Media reports with reference to “Report”.

“This is one of the old deposits. We, together with our colleagues from SOCAR, will utilize the available technologies,” Maganov said.

He added that Tatarstan and Azerbaijani companies are working together in the reconstruction of an oil refinery in Türkiye.

“We have traditionally done well in petrochemicals, and we are working on this topic together with our Azerbaijani colleagues. In addition, we operate in other third countries,” Maganov said.