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OMV puts Iran near the top of a recovery plan – UPI.com

Austrian energy company OMV said it was placing bets on opportunities in Iran as it retools its upstream portfolio for growth in the weakened energy sector.Rainer Seele, the company’s chief executive officer, said the company would use at least 90 percent of its investments for exploration and production on keeping output steady at 300,000 barrels of oil equivalent per day through 2020. Should the political opportunity present itself, a production revival in war-torn Libya and Yemen may be on the agenda.

Source: OMV puts Iran near the top of a recovery plan – UPI.com

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