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Pasargad E&P

Pasargad E&P Co. is an independent oil and gas exploration and development company cleared as an Iranian E&P company by the Ministry of Petroleum to partner international oil companies interested in Iran's oil and gas sector under the Iranian Petroleum Contract (IPC) and NISOC model of contracts. It is also qualified to act as an independent operator. Based in Tehran, Pasargad E&P was formed and registered in 2016 with the objective of participating in the development of Iran's oil & gas sector in compliance with the highest safety and environmental standards. The Pasargad Exploration & Production Company, PEDPC, is owned by the Pasargad Energy Development Company, with Pasargad Bank, the leading Iranian private bank with a continuous high growth rate, a main shareholder.

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Sepehr & Jufair Field Development

The National Iranian Oil Company (NIOC) and Pasargad Energy Development Company (PEDC) signed a contract for the integrated development project of Sepehr & Jufair fields in March 2018, marking the first field development contract awarded 100% to an Iranian private E&P company as its operator. The two fields were discovered by digging the first well No. 1 Jufair, Khuzestan Province in southwestern Iran, in 1976. These fields are situated in the northeastern part of Abadan plain, 60 km southwest of the oil-rich city of Ahvaz. The studies carried out by Pasargad E&P proved that given the structure of their reservoirs, Sepehr & Jufair fields can be developed via an integrated development project in order to maximize their profitability. After submission of the results of the studies and presentation of the technical and financial model of the fields, and carrying out assessments of various dimensions of the project, NIOC endorsed the proposal of Pasargad E&P for developing Sepehr and Jufair fields.
Now, for the purpose of developing and operating the two fields, NIOC and Pasargad Energy Development Company have signed a 20-year contract. The deal is aimed at production capacity of 110,000 b/d with an accumulated output of 512 million barrels from the two fields over a period of 20 years. The CAPEX calculated for the development of Sepehr and Jufair fields is estimated at $2,426m. Indirect costs are estimated at $412m.
The main jobs envisaged to be carried out under this agreement include provision of an optimized scenario for developing the two fields, work over of the existing wells, installation of downhole pumps, drilling vertical and horizontal wells in Fahlian and Ilam reservoir layers (a total of 126 wells) and four wastewater wells, fractions operations, injection of water and gas for improved recovery rate of these fields and building oil collection and transmission pipelines and electricity transmission lines.
Once operational, the project, while increasing the country's crude oil production capacity in the oil-rich West Karoun area, will generate jobs on a large scale in the southwestern province of Khuzestan and create a good market, especially by creating and workshops for the repair of ESP pumps and other equipment.
Accordingly, Pasargad E&P Company is planning to apply proper management in the project and collaborate with international E&P companies and manufacturers to absorb the capital and technologies needed in the areas of enhanced recovery, modern drilling techniques as well as other relevant sectors.

  • Managing Director: Seyed Javad Mortazavi
  • Tel : (+98) 2126401785-6
  • Fax : (+98) 2126401787
  • Email : info@pedc.com
  • website : -
  • Address: 4th Mirdamad Ave.Tehran Iran Zipcode: 1911618851

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