TEHRAN - Japan’s Inpex, which withdrew nearly five years ago from participation in an oilfield development project in Iran due to U.S. sanctions against Tehran’s nuclear program, may return to the project, a senior Iranian oil official said.

The official, who spoke on the condition of anonymity, said Monday the final decision on whether to accept Japan rests with Oil Minister Bijan Namdar Zangeneh, but added that he has a favorable view concerning Japan’s participation in Iran’s oil projects, the Shana news agency reported.

Japan’s return to the Azadegan oilfield development project in southwestern Iran would signal the Middle Eastern country’s desire to make use of Japanese companies’ technical capabilities.

The Iranian government was dissatisfied with the contributions of a Chinese firm following Japan’s withdrawal and is apparently hoping that the recent agreement between Iran and six major powers on Iran’s nuclear program may prompt Japan to come back to the project.

Inpex Corporation had a stake in the project to develop the Azadegan field, considered to have one of the largest crude oil reserves in the Middle East. It had to pull out after the United States reinforced its sanctions on Iran.

After that, China National Petroleum Corp. acquired a stake. Iran, however, said in April 2014 that it dissolved its contract with the Chinese state-run company due to delays in development.

Iran will hold a much-awaited conference to present the new format of contracts for the development of its lucrative oil and gas projects in London in September 2015.

In the new format that has been named as Iran Petroleum Contract (IPC), different stages of exploration, development and production are awarded to contractors as an integrated package