Alexander Novak plans to hold talks with Iranian Oil Minister Bijan Namdar Zanganeh during his two-day visit as the two countries aim to increase trade fivefold from the current $2 billion, Tasnim News Agency reported.
The Russian minister is also scheduled to sit down with Iran's Minister of Communications and Information Technology Mahmoud Vaezi, who heads Iran-Russia Joint Economic Commission.
Novak and Vaezi will exchange views on energy resources, cooperation in hydrocarbon sector, as well as raising the current level of Tehran-Moscow trade.
Lukoil, Russia’s second-largest oil producer, is in talks with the National Iranian Oil Company (NIOC) to return to Iran. The company seeks to revive its stake in the Anaran project from which it pulled out in 2011, Press TV reported.
Lukoil Chief Executive Vagit Alekperov is to meet Zanganeh in Vienna in December when OPEC gathers for a meeting.
Iran also wants Russia to build more nuclear power plants in the country similar to the Bushehr facility. They signed an agreement in November 2014 to build two more 1,000-megawatt units in Bushehr.
After the international nuclear accord with Tehran in July, Russia has acted quickly to cement ties with Iran but the two countries' plan to barter oil for goods is apparently facing hurdles.