Petroiran Development Company Limited (Petroiran; PEDCO) is an oil and gas company based in

Tehran Tehran (; fa, تهران ) is the largest city in Tehran Province and the capital of Iran. With a population of around 9 million in the city and around 16 million in the larger metropolitan area of Greater Tehran, Tehran is the most popul ...

Iran Iran, officially the Islamic Republic of Iran, and also called Persia, is a country located in Western Asia. It is bordered by Iraq and Turkey to the west, by Azerbaijan and Armenia to the northwest, by the Caspian Sea and Turkmeni ...

. It is a subsidiary of

Naftiran Intertrade Naftiran Intertrade Company limited (NICO) is a Swiss-based subsidiary of the National Iranian Oil Company (NIOC). NICO is a general contractor for the oil and gas industry. NIOC buys the vast majority of Iran's gasoline imports. NICO is a key pl ...

, a part of the

National Iranian Oil Company The National Iranian Oil Company (NIOC; fa, شرکت ملّی نفت ایران, Sherkat-e Melli-ye Naft-e Īrān) is a government-owned national oil and natural gas producer and distributor under the direction of the Ministry of Petroleum of Ir ...

, responsible for developing

upstream Upstream may refer to: * Upstream (bioprocess) * ''Upstream'' (film), a 1927 film by John Ford * Upstream (networking) * ''Upstream'' (newspaper), a newspaper covering the oil and gas industry * Upstream (petroleum industry) * Upstream (software ...

oil projects. The company was established in 1997 and in 1999 it was registered in St. Helier,

Jersey Jersey ( , ; nrf, Jèrri, label=Jèrriais ), officially the Bailiwick of Jersey (french: Bailliage de Jersey, links=no; Jèrriais: ), is an island country and self-governing Crown Dependencies, Crown Dependency near the coast of north-west F ...

. In 2003 it was announced that Petroiran will merge with Petropars, another subsidiary of

. The merger did not take a place. In 2007, the company was designated for

privatization Privatization (also privatisation in British English) can mean several different things, most commonly referring to moving something from the public sector into the private sector. It is also sometimes used as a synonym for deregulation when ...

. On 14 December 2008, it was sold to Dana Energy. However, the deal was not finalized. The company develops the

South Pars The South Pars/North Dome field is a natural-gas condensate field located in the Persian Gulf. It is by far the world's largest natural gas field, IEA, World Energy Outlook 2008 - Chapter 12 - Natural gas resources and production prospects, p.298 ...

, Azadegan, Foroozan, Salman, Nosrat, Farzam and

Arash Arash the Archer ( fa, آرش کمانگیر ''Āraš-e Kamāngīr'') is a heroic archer-figure of Iranian mythology. According to Iranian folklore, the boundary between Iran and Turan was set by an arrow launched by Arash, after he put his own ...

fields. Belpars, a joint company of Petroiran and Belarusneft, a subsidiary of

Belneftekhim Belneftekhim (full name: Belarusian state concern for oil and chemistry; russian: Белнефтехим, Белорусский государственный концерн по нефти и химии; be, Белнафтахім — Бел ...

, is developing the Jofeir oil field. In 2006, the company had a legal dispute with

Romania Romania ( ; ro, România ) is a country located at the crossroads of Central Europe, Central, Eastern Europe, Eastern, and Southeast Europe, Southeastern Europe. It borders Bulgaria to the south, Ukraine to the north, Hungary to the west, S ...

Grup Servicii Petroliere Grup Servicii Petroliere (GSP Offshore) is a Romanian company providing offshore integrated services for Oil industry, oil and gas industry. The company, established in 2004, is a member of UPETROM Group. Grup Servicii Petroliere (GSP Offshore) ...

over the ownership of

jack-up A jackup rig or a self-elevating unit is a type of mobile platform that consists of a buoyant hull fitted with a number of movable legs, capable of raising its hull over the surface of the sea. The buoyant hull enables transportation of the unit ...

drilling rig A drilling rig is an integrated system that drills wells, such as oil or water wells, or holes for piling and other construction purposes, into the earth's subsurface. Drilling rigs can be massive structures housing equipment used to drill wat ...

s ''

GSP Orizont ''GSP Orizont'' is a semi-submersible, jackup independent leg cantilever drilling rig operated by GSP Drilling, a Grup Servicii Petroliere subsidiary, and currently contracted by Iranian Offshore Engineering and Construction Company for drilling ...

'' and ''

GSP Fortuna GSP may refer to: Places Parks * Gambrill State Park, Frederick, Maryland * Garner State Park, Concan, Texas * Garrapata State Park, California * Gathland State Park, Burkittsville, Maryland * Geneva State Park, Ashtabula County, Ohio Transpor ...

''.

References

External links

* {{official website National Iranian Oil Company Energy companies established in 1997 Non-renewable resource companies established in 1997 1997 establishments in Iran Iranian entities subject to the U.S. Department of the Treasury sanctions