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Iran Focuses on Jointly-owned Oilfield Projects to Boost State Revenue.

"Over the past years, a segment of the exported oil was enough to cover the cost of running the affairs of the country, but today every barrel of exported oil must be sold at a minimum of $65 a barrel to be able to manage the country," Masoud Mirkazemi said an oil conference in Tehran.

"In the 5th and 6th five-year development plans (2010-2020), attention to jointly-owned fields will be the top priority of the oil industry and regarded as our red line," he said.

"If need be, we will shift attention away from the interior fields to concentrate attention on jointly-owned ones, since this will result in further improvement of the country's economy and optimum use of its energy reserves," he added.

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Publication:Moj News Agency (Tehran, Iran)
Date:Jun 20, 2010
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