PEDC At A Glance
The Pasargad Energy Development Company, PEDC, is owned by the Pasargad Financial Group, in which one of its distinctive shareholders is Pasargad Bank, the leading Iranian private bank with a continuous high growth rate.
PEDC was formed and registered in April 2008 with the objective of participating in the national and international energy markets in general and the development of Iran's energy sector in particular. Our core businesses include hydrocarbon sector, power generation and renewable energy in which the fundamental of PEDC activities is approaching sustainable development with an emphasis on the environment. To accomplish this task, we focus on utilizing the best available human resources, up to date technology and efficient management in an optimum organizational structure.
Iran has one of the world's largest oil reserves and is the home to the second-largest gas reserves. With huge reserves coupled with a large consumer market, Iran is playing a major role in the global energy industry. This unique position means years of ongoing development potentials. It thus provides us the right business environment to pursue our vision of becoming the leading private energy group in the region.
Following extensive and lengthy survey and study of the energy market, both locally and internationally, and finalizing our company strategic plans; the initial growth of our portfolio's size and diversity was achieved through investment of more than 350 million Euros over a period of less than three months. This was done by establishing a number of subsidiaries active in offshore drilling (jackup rig ownership and operation) , well and drilling services, general contracting (oil and gas exploration and production) and PE pipes manufacturing (for gas transfer) . In addition, PEDC became a major shareholder in a combined cycle power plant company.
We have continued taking major steps in investing in our core businesses; such as power generation, petrochemicals and a number of oil/gas field developments which means billions of Euros of additional investments.