The $10-billion credit line which Japan intends to allocate to various sectors of the Iranian economy will be put into effect sooner; Iran's deputy oil minister for commerce and international affairs was quoted as saying by Iran Daily.

Japan as a 'good partner' for Iran, added Amir-Hossein Zamaninia, saying the Asian country planned "an active presence in Iran's petroleum industry" after the lifting of the sanctions.

"The Japanese intend to invest in various oil industry sectors including petrochemicals and LNG," he was quoted as telling Irna.

Petroleum and other energy sectors are viewed as a key target of Japanese investment, with the debt guarantee permitting its companies to invest without significant risk, the report said.

"Tokyo currently has limits on the use of crude oil, so they are not looking to increase crude oil imports, rather they have been demanding increasing the purchase of gas condensate," Zamaninia said.