Russian oil corporation Lukoil President Vagit Alekperov said in an interview on the sidelines of St. Petersburg International Forum in Russia that his company expects to sign contracts with Iran in the period between October and November 2017.

The 21st St. Petersburg International Economic Forum (SPIEF) opened on Thursday evening in Russian second largest city with representatives from Iran in attendance.

“The elections are over, the continuity is practically maintained, and we hope that by autumn, as it was announced earlier, we will receive a final decision. Maybe this will not be a law, but rather an accepted contract, which will economically stimulate us to make investments,” Alekperov said, adding that the contracts could be signed in October-November only.

Vagit Alekperov went to note that the company is in permanent talks with Iran. “We are ready, but, unfortunately, there is no law so far,” he said.

Back in April, Iranian Oil Minister Bijan Zanganeh said serious talks were underway with several oil giants like Total, Maersk, Lukoil, Pertamina, OMV as well as Wintershall Holding GmbH. He anticipated that the first project will pertain to Phase 11 of South Pars joint gas field.

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