PetroIran

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Petroiran Development Company
Petroiran
Subsidiary of Naftiran Intertrade (part of NIOC)
IndustryOil and gas
Founded1997; 22 years ago (1997)
Headquarters,
Key people
Sepehr Sepehri(CEO)
ParentNaftiran Intertrade
Websitewww.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]

References[edit]

  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. 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. 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. Retrieved 2012-07-15.

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