Lukoil PJSC, Russia's second-largest oil producer, plans to sign a deal on exploration and production with Iran following changes in the Persian Gulf nation's tax laws.
Vagit Alekperov, Lukoil's chief executive officer, said he plans to meet Iran's Oil Minister Bijan Namdar Zanganeh when the Organization of Petroleum Exporting Countries gathers in Vienna in December, Bloomberg reported on Friday.
Oil companies are eyeing projects in Iran, which has the world's fourth-largest reserves, after the nation reached an agreement with the US and other world powers to modify its nuclear program in exchange for an end to economic sanctions.
Lukoil stopped work in Iran as a minority partner in a project called Anaran in 2010 due to sanctions.
Iran plans to increase crude output by two million barrels a day and natural gas production by about seven billion standard cubic feet from about 50 energy projects that will be offered to investors until the end of current year.