Iranian Central Oil Fields Company
Iranian Central Oil Fields Company (ICOFC) is a National Iranian Oil Company subsidiary that develops, produces, processes and transfers crude oil and natural gas from onshore fields across Iran. Headquartered in Tehran, it manages a large multi-province field portfolio and supplies the national gas grid, making it a key operating and procurement counterparty in Iran’s upstream gas system.
Operations & footprint
Products and services
Iranian Central Oil Fields Company develops, produces, processes, and transfers oil and natural gas from onshore fields across large parts of Iran. Its activity covers gas and oil production management, field development, reservoir maintenance, gas-compressor and separation projects, condensate production, sulfur production, transmission support, and oversight of subsidiary operating companies such as South Zagros, West Oil and Gas Production Company, and East Oil and Gas Production Company.
Operations and assets
ICOFC manages 88 gas fields and 42 oil fields across 11 Iranian provinces. Its stated output includes 200,000 barrels per day of crude oil and 80,000 barrels per day of gas condensate. It supplied more than 250 million cubic metres of gas per day to the national grid in March 2024 and reached a stated production record of 296 million cubic metres per day in June 2024.
Geographic footprint
Headquartered in Tehran and operating onshore oil and gas fields across 11 provinces in Iran.
Ownership & group structure
Ownership
Subsidiary of the National Iranian Oil Company (NIOC).
Parent company
National Iranian Oil Company (NIOC).
Subsidiaries and group companies
South Zagros Oil and Gas Production Company; West Oil and Gas Production Company; East Oil and Gas Production Company.
Commercial and investment relevance
Iranian Central Oil Fields Company is relevant for investors assessing Iran's gas-production base, onshore field-development needs, public upstream projects, compressor and separation infrastructure, procurement demand, domestic energy security, and the limits of production growth under sanctions. It can support analysis of project backlogs, equipment localization, field decline, gas-supply pressure, and condensate-linked revenue potential. Due diligence should treat the company as compliance-sensitive and verify NIOC ownership, sanctions exposure, subsidiary boundaries, active fields, production data, tender rules, procurement channels, contractor history, equipment needs, payment risk, environmental obligations, and the status of development projects. ICOFC is a significant procurement and operating interface for suppliers of upstream equipment and services, particularly in gas compression, separation, field development, reservoir maintenance, processing and transmission support. Its production system is closely tied to domestic gas-grid supply.
Constraints, risk & compliance
Key risks and constraints
Operations depend on sustained performance of a large, geographically dispersed onshore field portfolio. Reservoir maintenance, compression capacity, processing reliability and transmission continuity are material constraints because ICOFC supplies the national gas grid.
Sanctions and compliance considerations
As a subsidiary of NIOC operating in Iran’s oil and gas sector, ICOFC requires heightened sanctions and counterparty screening for cross-border transactions, technology supply, financing and logistics.
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Frequently asked questions
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What does Iranian Central Oil Fields Company do?
ICOFC develops, produces, processes and transfers crude oil and natural gas from onshore fields. Its activities include field development, reservoir maintenance, gas compression, separation, condensate and sulphur production, and transmission support.
Who owns Iranian Central Oil Fields Company?
ICOFC is a subsidiary of the National Iranian Oil Company (NIOC).
Where does ICOFC operate?
ICOFC is headquartered in Tehran and manages onshore oil and gas fields across 11 Iranian provinces.
How large is ICOFC’s gas supply role?
ICOFC stated that it supplied more than 250 million cubic metres of natural gas per day to Iran’s national grid in March 2024 and reached a production record of 296 million cubic metres per day in June 2024.