Company type | Subsidiary of Naftiran Intertrade (part of NIOC) |
---|---|
Industry | Oil and gas |
Founded | 1997 |
Headquarters | , |
Key people | Mansour Mehrshad( CEO) |
Parent | Naftiran Intertrade |
Website |
www |
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]