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Developing the Oil Industry:

PEDCO

Activities in the oil industry consist of series of interconnected chains, of which geological studies, seismic operations and interpretation of results, exploration, drilling and extraction constitute the first upstream links.

PetroIran Development Company (PEDCO) was formally registered in Jersey, England, in 1999, to act as the management executive arm of the Iranian oil industry and achieve the objectives ratified by NIOC Board of Directors in developing upstream projects in the Iranian oil industry. The PEDCO's first four years of activities in the implementation of huge oil projects in the Persian Gulf - such as development and production increase in Nosrat and Farzam fields, Salman oil and gas fields, and Foroozan and Esfandiar oil fields in the framework of buyback contracts - have all been tremendously successful. With its tangible achievements, PEDCO is now extensively active in developing the Islamic Republic of Iran's common fields in the Persian Gulf.

With the strength of its progressive executive management, capable managers and experienced technical staff, PEDCO has made long strides in the past few years towards the fulfillment of the goals of the Iranian oil industry, and currently the Company has extensive programs for the further expansion of its activities.

The PEDCO extensive drilling operations and the simultaneous management of five offshore drilling facilities, increase in the number of wells, length of drillings performed, output from Nosrat, Salman and Foroozan fields, starting the development of Dalan and Kangan formations, discovery and appraisal of deep hydrocarbon formations at Salman field... are all proofs of PEDCO's capabilities.

From its initial establishment till March 2004, PEDCO made great strides in achieving the following objectives:

  1. Incorporating development management of oil and gas resources
  2. Making up for the lapse caused by the eight- year imposed war
  3. Shortening the professional- technical gap between the Iranian and the foreign trained manpower in the oil industry
  4. Closing up the technical gap between processes used in the Iranian oil industry and those of the current international standards.

Ship illustration PEDCO's main activities are focused on oil and gas projects in different regions of the world in the following areas:

  1. Exploration and development appraisals
  2. Drillings
  3. Studies on oil and gas reservoirs
  4. Supervision and management in the construction, erection and commissioning of onshore and offshore facilities
  5. Recovery enhancement and production expansions.

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