Iran is in talks to help build a refinery in Spain, an Iranian oil official told state media over the weekend, as it seeks to secure buyers for its oil after a European embargo on its oil is lifted.

The talks come as world powers are set to implement a deal with Tehran to lift sanctions in exchange for curbs on the Islamic Republic’s controversial nuclear program. Iranian officials have said the country would ramp up its exports by 1 million barrels a day once the agreement comes into force, sending more oil into a global market reeling from a flood of supplies that have pushed prices below $34 a barrel.

Iran is planning to invest with local companies in a Spanish facility that could refine 200,000 barrels of oil a day, said Abbas Kazemi, the head of the state-run National Iranian Oil Refining and Distribution Co., in remarks carried by the official Islamic Republic News Agency.

“The safest way to increase the exports is investment in refineries abroad. On this basis, the petroleum ministry wants to invest in refineries abroad, whose crude oil will be met by Iran,” he said.

Mr. Kazemi didn’t name the Spanish companies involved in the talks. Oil companies from the European Union are allowed to discuss oil projects with their Iranian counterparts but can’t sign deals until sanctions are lifted, a move expected in the coming weeks.