Iranian energy companies have agreed deals worth $1.2 billion to raise the nation’s crude output, state-run National Iranian Oil said. The signings were initially meant to take place on Monday in Tehran in the presence of Oil Minister Bijan Namdar Zanganeh, but have been delayed, NIOC said in a statement. The company didn’t disclose the reason for or length of the delay. Zanganeh said in mid-December that Iran planned to roughly double oil production in the next year to 4.5 million barrels daily, as the country anticipates a loosening of US sanctions after Joe Biden becomes president. National Iranian South Oil Co. and Iranian Offshore Oil will sign deals with domestic contractors covering onshore fields in Bushehr, Fars, Khuzestan, and Kohgiluyeh and Boyer-Ahmad provinces, NIOC said. The offshore Reshadat deposit in the Persian Gulf is also part of the agreements.