TNK-BP (TNBP), Russia’s third-largest oil producer half-owned by BP Plc (BP/), will retain billionaire Mikhail Fridman as chief executive officer until the end of 2013, Kommersant reported, citing unnamed people close to the company.

An independent manager nominated by BP will replace Fridman from 2014, the Moscow-based daily reported, citing an agreement reached by BP and a group of Russian billionaires who own the remaining 50 percent in the oil company.