Following the failure of the coastal states' meeting to reach a consensus on dividing energy-rich seabed, Iran made it clear that it would prevent any oil exploration by other countries in a sector of the Caspian Sea which it claims as its own.
"The oil ministry will not allow anyone to carry out oil activities in Iran's 20 per cent sector of the sea," said oil minister Bijan Zanganeh. He also stated that Iran would undertake as a preliminary exercise, two-dimensional and three-dimensional seismic surveys from March-end.
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