The head of Italian oil company Eni SpA (E) had a "fairly long and very warm" meeting with Iran 's oil minister in Vienna Thursday to discuss a possible increase in the company's activities in the country if western sanctions are lifted.

"We plan to continue to be in Iran and possibly increase our activity, as long as the sanctions regime is lifted," Eni Chief Executive Paolo Scaroni said.

However, he added the country would have to modify the terms of its contracts to become more attractive to international oil companies.
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