Pasargad Energy Development Company (PEDC) is a prominent player in the upstream oil and gas sector, while being a pioneer E&P company in Iran, offering a comprehensive range of services from reservoir studies to field exploration, development, and production. Our aim is to maximize the value of our hydrocarbon resources through efficient and responsible field development, and we have made significant investments in oil and gas field development to increase our share in upstream of oil & gas sector.
In 2017, PEDC became the first Iranian E&P Operator Company to sign an IPC (Iranian Petroleum Contract) with National Iranian Oil Company (NIOC) for the development of Sepehr and Jofeir onshore oil fields in southwest Iran, for a CAPEX value of 2.7 billion USD. This twenty-year contract aims to recover more than 540 Million barrels of oil via drilling of 130 development wells (including horizontal wells) and achieve the oil production plateau of 110,000 barrels per day under natural and artificial reservoir flow mechanism, as of 50,000 barrels per day has been already achieved. This world-class contract has solidified PEDC position as a first rank qualified Iranian E&P Company by NIOC, which can sign petroleum contract with NIOC for a value up to 12 billion USD.