PetroIran

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Petroiran Development Company
Petroiran
Company typeSubsidiary of Naftiran Intertrade (part of NIOC)
Industry Oil and gas
Founded1997;27 years ago (1997)
Headquarters,
Key people
Mansour Mehrshad(CEO)
Parent Naftiran Intertrade
Website www.petroiran.com

Petroiran Development Company Limited (Petroiran; PEDCO) is an oil and gas company based in Tehran, Iran. It is a subsidiary of Naftiran Intertrade, a part of the National Iranian Oil Company, responsible for developing upstream oil projects. The company was established in 1997 and in 1999 it was registered in St. Helier, Jersey. [1] [2]

In 2003 it was announced that Petroiran will merge with Petropars, another subsidiary of Naftiran Intertrade. [3] The merger did not take a place. In 2007, the company was designated for privatization. [4] [5] On 14 December 2008, it was sold to Dana Energy. [6] However, the deal was not finalized. [7]

The company develops the South Pars, Azadegan, Foroozan, Salman, Nosrat, Farzam and Arash fields. [8] [9] Belpars, a joint company of Petroiran and Belarusneft, a subsidiary of Belneftekhim, is developing the Jofeir oil field. [10] [11]

In 2006, the company had a legal dispute with Romanian Grup Servicii Petroliere over the ownership of jack-up drilling rigs GSP Orizont and GSP Fortuna . [12] [13] [14] [15]

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References

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  14. Smyth, Gareth (2006-08-24). "Petroiran backs oil rig seizure in Gulf". Financial Times . Retrieved 2012-07-15.
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