UPDATE 1-Gazprom says agrees more gas/oil projects with Iran

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MOSCOW, Feb 19 (Reuters) - Russia's Gazprom (GAZP.MM: Quote, Profile, Research), the world's largest gas producer, has agreed to develop more phases of Iran's giant South Pars gas field and enter the country's oil sector, the firm said on Tuesday.

New investment by a Russian energy firm is unlikely to be well received in the United States, which has been seeking to isolate Iran over its nuclear ambitions and has been urging foreign firms to cut business ties.

Gazprom said in a statement the deal was clinched on Tuesday at talks between its chief executive Alexei Miller and Iranian Energy Minister Gholamhossein Nozari. It did not give any figures for investment commitments.

"The two sides have agreed to jointly develop two or three blocks of South Pars as well as Gazprom Neft's (SIBN.MM: Quote, Profile, Research) participation in oil production projects in Iran", the statement said.

Gazprom is already involved in phases two and three of South Pars together with France's Total (TOTF.PA: Quote, Profile, Research) and Malaysia's Petronas.

Iranian officials could not be reached for immediate comment.

Russia has been reluctant to impose more U.N. sanctions on Iran although it has voiced some concerns about Tehran's nuclear ambitions.

Russia is building Iran's first nuclear power plant and has supplied the fuel it will use, despite U.S. concerns that Tehran is seeking to build atomic bombs. Iran denies any such intentions.