Ali Aqamohammadi made the remarks Sunday at the Research and Technology Festival of the Research Institute of Petroleum Industry. He said the country’s most important asset under current conditions is its young population, noting that the demographic window will close within the next 25 years. The coming years, he said, represent a major opportunity that must be used wisely.

He added that the future global environment will be increasingly demanding and that only countries with sufficient strength will succeed. Iran, he said, cannot rely on assistance from other nations and must therefore mobilize domestic financial resources. Without that, he said, neither progress nor independence would be possible. Such resources, he added, are largely derived from oil and mining.

Aqamohammadi stressed the need to maximize oil production, noting that oil will not hold its current position over the next 25 years as renewable energy expands. He said the country must use its current oil capacity to drive national development, advance its youth and manage the economy, adding that the Research Institute of Petroleum Industry has a clear and influential role in that effort.

He said the institute should develop a comprehensive plan for the oil industry and establish a clear division of labor among various sectors, particularly the private sector, to help increase investment.

Aqamohammadi also said new authorities will soon be granted in the area of oil investment to enable capable participants to secure financing, a step he said would lead to a major leap in the industry.