PetroIran

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]

Petroiran Development Company
Petroiran
Subsidiary of Naftiran Intertrade (part of NIOC)
IndustryOil and gas
Founded1997 (1997)
Headquarters
Tehran
,
Iran
Key people
Sepehr Sepehri(CEO)
ParentNaftiran Intertrade
Websitewww.petroiran.com

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]

References
  1. "History". PetroIran. Retrieved 15 July 2012.
  2. "Petroiran Development Company". National Iranian Oil Company. Retrieved 15 July 2012.
  3. "Two Iranian Oil Companies to Merge". Rigzone. 14 July 2003. Retrieved 15 July 2012.
  4. "Oil companies' salable stakes defined". Payvand. Mehr News Agency. 24 July 2007. Retrieved 15 July 2012.
  5. "Iran to float energy umbrella funds". Upstream Online. NHST Media Group. 11 February 2008. Retrieved 15 July 2012.
  6. "Dana Energy set for giant stride in Iran". Upstream Online. NHST Media Group. 5 February 2010. Retrieved 15 July 2012.
  7. "POGC to bankroll floater deal as Pedco in limbo". Upstream Online. NHST Media Group. 20 August 2010. (subscription required). Retrieved 15 July 2012.
  8. "Marine-1 Drilling Rigs Starting Operations". Fars News Agency. 20 June 2012. Archived from the original on 20 June 2012. Retrieved 15 July 2012.
  9. Kalantari, Hashem (2006-12-13). "Iran Signs $300M Contract on Azadegan--Ministry". Rigzone. Dow Jones Newswires. Retrieved 2012-07-15.
  10. "Iran Opens First Trade Office in Belarus". Fars News Agency. 2010-11-24. Archived from the original on 2010-12-13. Retrieved 2012-07-15.
  11. http://www.rigzone.com/news/oil_gas/a/119359/Irans_PetroIran_to_Develop_Arash_Gas_Field_in_Persian_Gulf
  12. "GSP: Fortuna Arrives in UAE". Rigzone. 2006-08-16. Retrieved 2012-07-15.
  13. Carvalho, Stanley (2006-08-17). "Romanian firm hotly disputes Petroiran's claim". Gulf News. Retrieved 2012-07-15.
  14. Smyth, Gareth (2006-08-24). "Petroiran backs oil rig seizure in Gulf". Financial Times. Retrieved 2012-07-15.
  15. "Tehran denies occupying Romanian drilling platform in Gulf". Monsters and Critics. 2006-08-23. Archived from the original on 2012-07-17. Retrieved 2012-07-15.
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