Petroiran Development Company
Petroiran Development Company (PEDEC) is a state-owned subsidiary of the National Iranian Oil Company (NIOC) headquartered in Tehran. It develops and manages upstream oil and gas projects in Iran, covering reservoir management, drilling coordination, EPC management and field operations. PEDEC is a material counterparty in NIOC-linked field development, including work associated with Salman, South Azadegan, Yadavaran and Abouzar.
Operations & footprint
Products and services
Petroiran Development Company provides exploration and production services, upstream oil and gas field development, reservoir and production management, drilling-related coordination, field-operation services, project development, and technical management for oil and gas assets connected to Iran's national oil-sector framework.
Operations and assets
PEDEC manages upstream development and operational work across oil and gas assets, including involvement in the Salman, South Azadegan and Yadavaran oil fields and Abouzar field operations and development.
Geographic footprint
Headquartered in Tehran, Iran, with upstream oil and gas project activity in Iran.
Ownership & group structure
Ownership
State-owned subsidiary of the National Iranian Oil Company (NIOC).
Parent company
National Iranian Oil Company (NIOC).
Commercial and investment relevance
Petroiran Development Company is relevant for investors assessing upstream oil and gas execution risk, domestic E&P capacity, public-sector field-development contracts, and sanctions-sensitive contractor structures. It can support analysis of where oilfield development depends on local engineering firms, financing availability, drilling services, imported equipment, and NIOC-linked procurement. Due diligence should verify ownership, sanctions exposure, active project portfolio, field responsibilities, procurement channels, payment reliability, technology constraints, and any distinction between company registration, parent ownership, and operational role. PEDEC is a potential counterparty for engineering, drilling, oilfield equipment, technical services and project-management requirements tied to Iranian upstream development. Its NIOC affiliation makes it consequential for suppliers assessing access to state-led field-development programmes.
Constraints, risk & compliance
Key risks and constraints
Project execution depends on access to specialised drilling, EPC and reservoir-management inputs. Restrictions on international finance, technology, equipment and technical expertise can constrain procurement and delivery.
Sanctions and compliance considerations
Petroiran Development Company is listed by the U.S. Treasury’s Office of Foreign Assets Control (OFAC). Its status as an NIOC subsidiary requires sanctions screening and legal review before any transaction, financing, technology transfer or service engagement.
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Frequently asked questions
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What does Petroiran Development Company do?
PEDEC develops and manages upstream oil and gas projects, including reservoir management, drilling coordination, EPC management, field operations and technical management.
Who owns Petroiran Development Company?
PEDEC is a state-owned subsidiary of the National Iranian Oil Company (NIOC).
Where is PEDEC headquartered?
PEDEC is headquartered at No. 18, Touraj Street, Valiasr Avenue, Tehran, Iran.
Is Petroiran Development Company subject to U.S. sanctions?
Yes. Petroiran Development Company is listed by the U.S. Treasury’s Office of Foreign Assets Control (OFAC), requiring transaction-specific sanctions and legal review.