Japanese companies will have a tough competition with major international oil firms to expand their presence in Iran's oil industry.
Nobuhiko Watanabe, the first secretary and head of economic and commercial section of the Japanese Embassy in Tehran, further said Japan is very serious to return to the Iranian market, IRNA reported.
Referring to a two-day visit by a Japanese economic delegation to Tehran, Watanabe said Iran and Japan had extensive cooperation in various economic sectors, particularly oil, before the intensification of Western sanctions and hoped that the level of ties will return to the pre-sanction era.
Commenting on the probable presence of major Japanese oil companies such as Inpex in Iran's oil projects and upstream oil industry, he said Japan is waiting for Iran to prepare and release new oil deals.