SKOLKOVO, October 6. /TASS/. Russia and Iran may reach an agreement on swap supplies of oil and gas by the end of this year, Russian Deputy Prime Minister Alexander Novak told reporters on Thursday.

"I expect it as the work is underway. Respective cooperation between ministries and companies is underway," he said when asked about the possibility of reaching agreements by yearend.

"We expect around 5 mln tons [of oil] per year and up to 10 bln cubic meters [of gas] at the first stage," Deputy Prime Minister said.

The sides are dealing with technical details now, Novak said. "The issues of transport, logistics, the price. Those are commercial agreements that should be worked out in detail. Our economic operators are dealing with it," he explained.