Iran plans to float a tender for 17 oil and gas blocks to coincide with the latest round of talks between Tehran and world powers on the country’s nuclear programme at the end of March.

The local Mehr News Agency quoted a National Iranian Oil Company (NIOC) official announcing that the tender would be aimed at international oil companies (IOCs).

IOCs have largely abandoned exploration and development work in the Islamic Republic due to the increasing international economic sanctions against the country’s energy and banking sectors.

Iran and the P5+1 world powers are aiming to hammer out the outlines of an agreement by the end of March and complete a deal by 1 July.