Info:
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;
In 2003 it was announced that PetroIran will merge with Petropars, another subsidiary of Naftiran Intertrade. The merger did not take a place. In 2007, the company was designated for privatization. On 14 December 2008, it was sold to Dana Energy. However, the deal was not finalized;
The company develops the South Pars, Azadegan, Foroozan, Salman, Nosrat, Farzam and Arash fields. Belpars, a joint company of PetroIran and Belarusneft, a subsidiary of Belneftekhim, is developing the Jofeir oil field;
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;
Also Known As:
Petroiran Development Co.
PEDCO
PetroIran
Involved In:
Nuclear Weapon Program
Established:
1997
Country:
Iran
Address:
P.O. Box 2965, Al Bathaa Tower, 9th Floor, Apt. 905, Al Buhaira Corniche, Sharjah, United Arab Emirates;
P.O. Box 15875-6731, Tehran, Iran;
41, 1st Floor, International House, The Parade, St. Helier JE2 3QQ, Jersey;
No. 22, 7th Lane, Khalid Eslamboli Street, Shahid Beheshti Avenue, Tehran, Iran;
No. 102, Next to Shahid Amir Soheil Tabrizian Alley, Shahid Dastgerdi (Ex Zafar) Street, Shariati Street, Tehran 19199/45111, Iran;
Website:
www.petroiran.com
E-mail:
info@petroiran.com
Person of interests:
Mehdi Haji Hosein Zadeh(CEO)
Bijan Allipour (COO);
Hamid Ghandehari (Head of Drilling Engineering);
Siamak Nazemi (Head of Drilling Operation);
Fariba Dezfouli (Head of Contracts Affairs);
Reason for the color:
» As part of the re-imposition of U.S. sanctions on Iran, added on November 5, 2018 to the Specially Designated Nationals (SDN) list maintained by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), freezing its assets under U.S. jurisdiction and prohibiting transactions with U.S. parties, pursuant to Executive Order 13599, which targets entities controlled by the Government of Iran and Iranian financial institutions; foreign parties facilitating transactions for the entity or otherwise assisting the entity are subject to U.S. sanctions;
» Listed by the European Union in October 2012 as an entity linked to Iran’s proliferation-sensitive nuclear activities or Iran’s development of nuclear weapon delivery systems;
» Removed from the E.U. list in January 2016 as part of the Joint Comprehensive Plan of Action;
» Added to OFAC’s SDN list on 06/16/2016;
» Removed from the SDN list in January 2016 as part of the Joint Comprehensive Plan of Action;