PEDCO at a Glance

As a subsidiary of National Iranian Oil Company, Petroiran Development Company is active in developing oil and gas fields.

In light of NIOC's development of IPC as a new model of oil contracts, PEDCO was endorsed as an E&P company by the Iranian Ministry of Petroleum to operate exploration and production projects.

Vision

Becoming a value-creating enterprise with a superior position in Iran and the world

Our Competitive Advantages

Petro-Iran Development Company (PEDCO) relishes the following competitive advantages realized with the continuous and collective efforts of its employees:

Experience and lessons learned from implementation of 8 major national oil and gas projects
Human capital and operational infrastructure necessary for leading and implementing large-scale projects
Acquisition of key assets necessary for the implementation of oil and gas development projects
Enjoying a network of subsidiaries inside and outside the country to support its chain of value-creating activities

Objectives

PEDCO seeks the following objectives:

Maximizing the firm’s economic value added
Jacking up its domestic market share and toehold in international markets
Excellence in all key processes
Development of tangible and intangible organizational resources and capital

Mission

Relying on skilled manpower and the approach of sustainable development, efficient and effective interaction with all stakeholders, advanced systems and world-class technical savvy, PEDCO operates in the following areas to respond to the needs of the oil, gas and renewable energy industries:

Discovery, development and operation
Investment, financing, marketing and sales of products/services concerning the oil industry and other energy fields

Achievements

Over the course of the past 26 years, PEDCO has made the following achievements:

Implementation of 22 major and medium projects in Iran's oil and gas industries with a total value of over $6 billion
Creation of more than 57 million person/hours of direct and indirect employment
Adding 155,315 barrels of oil to the country’s daily output and cumulative production of 561 million barrels as of September 2018
Construction and installation of more than 64,300 tons of offshore metal structures
Construction of more than 746 kilometers of subsea pipelines, including construction of the longest subsea pipeline in the Persian Gulf from Siri Island to Asalouyeh with a length of 305 kilometers and achieving a daily record of 2,300 meters of subsea pipe laying
Drilling and repair of more than 128 wells with a total depth of more than 361,758 kilometers in onshore and offshore oil and gas fields
Signing contracts for implementation of 18 new wells and 4 workover projects
Production of 553 million barrels of crude oil from developing projects