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Iran negotiates development of Caspian oilfields with Russia, Norway, China

Over past years, Petroleum Ministry paid its main attention to develop oilfields in the Persian Gulf, but considering elimination of sanctions and facilitation of participation for foreign companies the ministry put development of oilfields in Caspian Sea on its agenda to absorb necessary financial resources and technologies for drilling in deep water.

Khodafarin also announced formation of investment committee in KEPCO and said that the committee is to absorb capital and technology to fulfill development plans in Caspian Sea.

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