Iran hopes to restart crude oil swaps of 150,000 b/d with Russian oil companies, oil minister Bijan Zanganeh said Saturday.
"During the trip by the Russian energy minister to Tehran, we didn't discuss it, but Lukoil is following this plan up," Zanganeh was quoted as saying by the state IRNA news agency Saturday.
Oil swaps between Iran and the Caspian states, which include Russia, stopped in 2010, when Iran's then oil minister Masoumi Mirkazemi described the terms of the swaps an "unfair deal" and strengthened international sanctions forced the oil companies involved to pull out.
"Russia's Gasprom is also taking some measures to cooperate with Iran for gas swap," Zanganeh was quoted as saying Saturday.
As part of an oil-for-goods deal, Iran is ready to sign an agreement to supply 100,000 b/d of crude to Russia, Zanganeh said earlier this month, in the latest sign of the two nations' strengthening mutual ties in the face of Western sanctions.
Iran has also signed an agreement with Russia's Gazprom Neft for development studies on the Changouleh and Cheshmeh-Kosh onshore oil fields.
Along with a deal for development studies with Lukoil, Zarubejneft and Tatneft, Russian oil companies have become the most active potential investors in Iran's oil and gas sector.
