Deputy Minister of Petroleum for International Affairs and Trading Amir-Hossein Zamaninia says talks are underway with major international companies for investment in Iranian oil industry.

Zamaninia made the remarks in an interview with reporters on the sidelines of the 4th International Annual Oil Session in Moscow.

He said Iranian oil projects are entrusted to companies in competitive conditions.

He added that big international companies are in talks for presence in Iranian oil industry in a competitive atmosphere.

The official said to this end, talks were held with several Russian companies interested in partnership with Iran in the energy sector.

He said the horizon of inking early contracts with foreign companies by end of this year is very bright and a delegation representing Russian Gazprom is to visit Tehran early December.