“We need contracts, tenders and technology,” he said, describing Iran as a “garden” in need of nourishment. “Money for the Iranian economy is like water.”

Iran is working to regain market share after sanctions relief and exports had already risen by 500,000 bpd in February, Mohsen Ghamsari, director of international affairs at National Iranian Oil Co (NIOC), told Reuters on Tuesday.

The low oil prices are a lucky charm for Iran, because the production costs in Iran are really low and you can't find any other place in the world that has such low production costs. Also, companies that are coming to invest in Iran would have access to both oil and gas reserves.

On Tuesday, Saudi Arabia, Russia, Venezuela and Qatar conditionally agreed to cap their output at last month’s levels in order to halt a slide that has pushed oil prices to their lowest point in more than a decade. Oil prices recently plummeted below $30 a barrel, the lowest in 13 years.

The first shipment of Iranian crude oil to the European Union in more than three years is poised to depart as soon as Monday, Iranian officials said.

“To develop the joint fields and enhance recovery of oil reservoirs as well as secure development targets, we need investment totaling 200 billion dollars,”

Possible Japanese investment in Iran could include petroleum, natural gas resource developments, refinery upgrades, petrochemical plants and distribution systems, according to industry sources.

Eni has already developed phases 4 and 5 of the South Pars gas field as well as two phases of Darkhovin oilfield. It has shown interest in developing Iran’s North Pars gas field and also the third phase of Darkhovin oilfield.

Iran's annual average crude oil production is forecast at 3.1 million b/d in 2016 (10% of projected total OPEC production), and almost 3.6 million b/d in 2017.

Iran is in a good position to deliver on its target to raise oil output by 500,000 b/d within six weeks and by a further 500,000 b/d six months after that.