Sputnik- Iran offers service contracts on oil production in the country to Russian oil and gas companies, Russian Deputy Minister of Energy Kirill Molodtsov said Wednesday.

MOSCOW (Sputnik) ��Oil market turbulence caused oil prices to�plunge from $115 per barrel in�June 2014 to�less than $30 per barrel in�January 2016. Crude prices are currently fluctuating between $40 and $50 per barrel. "The Iranian side says at�ministerial-level consultations that, for�example, direct parameters on�production-sharing agreement are a scheme which is very hard to�implement. They say this scheme is impossible for�them. They are offering service contracts," Molodtsov told reporters.