Lukoil PJSC is seeking opportunities for growth in the Middle East as Iran opens more of its oil fields to international partners, according to the Russian energy company’s regional head.

The Moscow-based company plans to add output from the region to existing operations in Iraq and Egypt as long as it finds projects with production costs as low as those in Russia, Gati Al-Jebouri, Lukoil’s head of upstream for the Middle East, told reporters in Dubai.

“Iran is our target area at the moment,” Al-Jebouri said, according to Bloomberg.

Lukoil is in talks with National Iranian Oil Co., the Persian Gulf country’s state producer, about the Ab Teymour and Mansouri oil fields in western Iran, he said. Al-Jebouri said he hoped the companies could agree on a common development program for the fields in the first half of the year before proceeding to commercial negotiations and a partnership.

Iran has outlined about 70 oil and natural gas fields that it said it will open to foreign investors as the country seeks funding and technology after international sanctions eased last year.