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Iran might appear to be increasingly isolated on the global stage but the country's deputy oil minister said Tuesday that it is on the verge of signing deals with major global oil and gas companies.

Speaking in London, Amir Hossein Zamaninia said Iran was currently negotiating with more than 15 companies from Europe, Russia and Asia to conclude contracts that will open the country to massive oil and gas exploration, development and production.

"These are not overambitious figures and expectations," he told the 'Oil and Money' conference in the U.K. capital. "Our policy is to be able to manage and finalize at least 10 contracts by the end of the Iranian year (March 2018)."

"We were right to sign the Iran deal and it gave us a clear boost… having said that, I see what's happening in the U.S. and we have to look at the fact that we are governed by laws and no one knows what Congress will decide," he told the Oil and Money conference in London.

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