Russia's Lukoil company plans to sign agreements with Iran on two oil fields in the fall of 2017, the company's president Vagit Alekperov said Friday.

SOCHI (Sputnik) � Alekperov said earlier this month that technical studies over�the Ab Teymour and Mansouri fields in�southwestern Iran would be presented to�the National Iranian Oil Company (NIOC) in�the near�future.

"We hope that legislation will be approved before�the end of�the year, somewhere in�October.� We will present basic principles in�October-November and will be ready to�discuss a specific contract by�May. The expected contract signing is October-November of�next year," Alekperov said at�the Sochi-2016 forum. He estimated that each of�the fields contained more than�1 billion metric tonnes of�recoverable oil reserves.

By Sputnik