Sputnik- The Iranian authorities are negotiating contracts worth some $130 billion with foreign energy companies, Iranian Deputy Minister of Petroleum for International Affairs and Trading Amir Zamaninia said Saturday.

MOSCOW (Sputnik)�� According to�Zamaninia, the consultations with�foreign firms are being held in�order to�increase the country's exploration and production capabilities.

"Presently, a total of�11 projects are being talked over�with credible international companies in�the oil and gas industry� In case of�reaching final agreement, the eleven contracts are estimated to�be worth about $130 billion," Zamaninia said, as�quoted by�Iran's Mehr news agency.

The official added that Tehran was in�talks with�such foreign oil and gas companies, as�French energy giant Total, multinational Royal Dutch Shell and British Petroleum (BP) along�with a number of�Russian and Chinese entities. In July 2015, Iran signed an historic nuclear deal with�the P5+1 group of�mediators, comprising Russia, the United States, China, the United Kingdom, France and Germany.

Under the agreement, sanctions, including embargoes on�gas and oil trade, were lifted off�Iran in�exchange for�compliance with�safety guidelines on�Tehran's nuclear program. The accord allowed Iran to�resume its petroleum exports and implementation of�a number of�frozen projects in�the sphere of�energy.