Preserving the current oil output level and making efforts to boost extraction from the country's massive hydrocarbon reserves top the lucrative oil industry's list of priorities.
President Hassan Rouhani made the statement on the sidelines of the 23rd Iran International Oil, Gas, Refining and Petrochemical Exhibition that commenced at Tehran's International Fairground on May 6, Mehr News Agency reported.
Iran Oil Show 2018, the four-day exhibit, is sponsored by Oil Ministry and its subsidiary the National Iranian Oil Company. It hosts more than 2,000 domestic and foreign companies, the event's official website said.
"The more oil and derivatives we produce and export, the more power we will gain in the region," Rouhani said, adding that although there are other key industries, oil and gas production is more strategic as it impacts people's quality of life directly.
The president noted that oil has always been a political concern in the country, as it overshadows not only economic but also social issues.
According to Rouhani, exhibitions like Iran Oil Show can play a major role in establishing good ties between the government and oil firms.
"We should trust domestic manufacturers," Rouhani said.
"As long as domestically-produced goods are not prioritized over foreign commodities, we cannot expect our industries to thrive," he said.
The official emphasized that moving towards self-sufficiency should be accepted as a basic principle in the country, especially in the oil industry.
"Whether we are under sanctions or not, we should stand on our own feet. This is very important for the country's development," he said.
Rouhani stressed that embarking on joint ventures with leading and reliable international companies to undertake sensitive projects is like a short cut, which can help achieve the country's objectives faster.
The president believes that attracting investment in oil sector is easier than in other fields and the administration should prepare the grounds for domestic firms to pursue their economic goals without any concerns.
"The government has tried to have a win-win collaboration and constructive relationship with the world since 2013," he said.
"Fast-tracking production from South Pars Gas Field in the Persian Gulf is of great importance, as the country needs to stabilize its oil and gas production."
Rouhani noted that extending a pipeline from Khuzestan to Jask Port in the southern Hormozgan Province can help increase oil exports and cooperation between the Oil Ministry and banks will speed up the implementation of such ventures.
Investments in downstream industries like petrochemical complexes will help create jobs in less developed regions.
