Russia's oil and gas major Lukoil has agreed with Tehran on possible participation in several oil production projects on the Iranian territory, a Russian deputy energy minister said Friday.

ST. PETERSBURG (Sputnik) — Lukoil chief Vagit Alekperov visited Iran last week where he reportedly sealed a $6-million deal with the state-owned National Iranian Oil Company (NIOC).

"They agreed on Lukoil’s possible participation in several production projects," Anatoly Yanovsky told reporters in St. Petersburg. He did not confirm the price tag on the contracts.

The Russian oil company reenergized talks with Tehran in the summer 2015 on resuming oil cooperation in anticipation of Iran’s return to the global market in 2016. Iran made a comeback after it had proved that its nuclear program complied with the regulations of the International Atomic Energy Agency.

By Sputnik News