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Upstream Oil and Gas

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introduction

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 value of 2.7 billion USD.This has solidified our 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.

We have a strong presence in upstream oil and gas activities through our subsidiaries. Our offshore drilling rig, named "Parsargad 100," is manned by experienced and capable Iranian employees, providing professional offshore rig chartering and drilling services. We also offer a broad range of well-based services, including directional drilling to mobile oil treatment (MOT), repair services for drilling equipment, supply of drilling equipment, technical inspections of drilling products, and integrated drilling and operation services for oil and gas wells. Additionally, we have developed RETINA, a 3D reservoir simulation software that combines specialized knowledge in software and oil and gas engineering, providing state-of-the-art oil and gas reservoir modeling.

At PEDC, we are committed to excellence in execution, with a proven track record of delivering successful projects on time and in budget. Our experienced team of professionals is dedicated to maintaining the highest standards of safety and environmental stewardship throughout all stages of our operations.

Our upstream oil and gas activities are guided by a long-term strategy that emphasizes sustainable growth and value creation. We continually seek to identify new exploration and production opportunities and leverage the latest technologies and best practices to enhance operational efficiency and productivity.

In summary, PEDC's upstream oil and gas activities are fundamental to our business and have contributed to our success as a leading energy company in Iran and abroad.

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