Qeshm Oil and Energy Industries Development Company

What Qeshm Oil and Energy Industries Development Company does

Qeshm Oil and Energy Industries Development Company (OEID) is a privately held Iranian upstream oil and gas services contractor established in 1997 as the primary upstream arm of OIEC Group (Oil Industries Engineering and Construction Group). The company provides integrated services across exploration, development, and production stages — including geophysics, geology, petrophysics, reservoir engineering, drilling engineering and operations, processing unit design, pipeline construction, and storage facilities. Major project portfolio spans field development at Yadavaran, Ahvaz 1&4, Sul Abdar, Havtgol, and Haftkel gas fields, plus Iran's first geothermal power project at Sabalan. Technical differentiators include the proprietary EPDS (Extended Production Drilling System) methodology, horizontal drilling expertise (e.g., Sorma formation at 640m), and well stimulation via coil tubing and nitrogen gas lift.

OEID's revenue model is entirely project-based, generating income from EPC contracts, project management services, and consulting/supervision engagements — all priced via competitive tenders and direct negotiations with national oil and gas clients. The customer base is exclusively Iranian state-owned entities: PEDEC, NISOC, ICOFC, AOGC, OIEC, and NIDC, with whom OEID holds long-cycle framework agreements including a recent 5-year drilling services contract with NIDC. Under CEO Dr. Abdollahadi Mottlagh (appointed November 2024), the company has executed a turnaround delivering 30% operating revenue growth and 47x growth in cash from operations against a workforce reduced by more than 50%.

Go-to-market is B2B enterprise field sales driven by government relationships and parent-company (OIEC) project allocation. The company holds ISO 9001, 14001, 29001, and 45001 certifications plus Iranian Oil Ministry contractor qualification. Operating footprint is single-country (Iran) with headquarters in Tehran and field operations across Khuzestan Province.

Name

Qeshm Oil and Energy Industries Development Company

Legal name

شرکت توسعه صنایع نفت و انرژی قشم (Qeshm Oil and Energy Industries Development Company)

Website

https://oeid.ir

Company type

Private

Founded year

1997

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

OEID is an Iranian upstream oil and gas services contractor (founded 1997, subsidiary of OIEC Group) providing drilling, field development, and EPC services exclusively to Iranian national oil companies and government entities across oil, gas, and geothermal projects.

Ownership category

akta.pro rank

Product category

Upstream Oil and Gas Services

NAICS

Support Activities for Oil and Gas Operations (213112), Drilling Oil and Gas Wells (213111)

SIC

Oil & Gas Field Services, Nec (1389), Drilling Oil & Gas Wells (1381), Oil & Gas Field Exploration Services (1382)

akta.pro primary industry

OFS Engineering, Construction & O&M (Field Development, Brownfield, Maintenance) (EUALABAM)

akta.pro secondary industries

Drilling & Well Construction (E&P Operator-led) (EUALAAAD), Well Completions & Stimulation (Hydraulic Fracturing, Sand Control) (EUALAAAE), Well Intervention, Workover & Integrity Management (EUALAAAJ)

Keywords

• Upstream oil services
• Drilling operations
• Field development
• Oil and gas engineering
• EPC contracts

Headquarters

HQ city

Tehran

HQ country

Iran

HQ region

Middle East

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Supply Chain, Technology or R&D, Marketing or Sales

Revenue model

1. EPC Contracts: Engineering, Procurement, and Construction contracts for oil and gas field development projects including surface facilities, drilling operations, and pipeline construction.
2. Project Management Services: General contracting and contract management services for upstream oil and gas projects, providing technical oversight and execution management.
3. Consulting and Supervision: Engineering consulting, feed design, and supervision services for oil field development projects.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

OEID provides integrated upstream oil and gas services to Iranian national oil companies, covering exploration, field development, drilling, and pre-production engineering. Its core offerings include engineering, procurement, and construction (EPC) project management, drilling operations (including horizontal/directional drilling and well workover), wellhead and surface facility construction, enhanced oil recovery (acidizing, fracturing, nitrogen gas lift), 2D/3D seismic studies, gas collection/processing/injection systems, and field development plan (FDP/MDP) consulting. OEID functions as the primary upstream arm of OIEC Group with 28+ years of sector experience.

Product overview

OEID (Qeshm Oil and Energy Industries Development Company) operates as an integrated upstream oil and gas services provider offering project management, drilling operations, engineering, procurement, and construction services. The company functions as the primary arm of OIEC Group in upstream oil and gas industries with over 27 years of experience. The product portfolio includes core services in geophysics, geology, petrophysics, reservoir engineering, drilling operations, processing unit design and execution, flow lines, storage, and auxiliary facilities. Major ongoing projects include Yadavaran oil field development (6 wells via EPDS method), Ahvaz 1 and 4 development (6 new wells + 1 workover), Sul Abdar oil field (4 new wells achieving light oil production), and Haftkel gas optimization (compressor stations). Completed projects span 28 projects including seismic studies, gas storage, desalting units, and the pioneering Sabalan geothermal power project. The company also provides consulting services for field development plans and technical advisory.

Differentiator

Problem solved

Functional benefit

Products and services

• Upstream Oil and Gas Services Integrated upstream oil and gas services covering geophysics, geology, petrophysics, reservoir engineering, drilling engineering and operations for exploration, development, and pre-production of hydrocarbon resources. Targeted at Iranian national oil companies and government-controlled petroleum entities.
• Project Management Services (EPCC) Surface and subsurface project management services covering engineering, procurement, construction, and commissioning (EPCC) for oil and gas field development projects, executed as general contracting and contract management engagements. Targeted at Iranian national oil companies.
• Drilling Operations Horizontal and directional drilling services for oil and gas wells, including drilling, completion, and workover operations using advanced techniques such as the EPDS (Extended Production Drilling System) methodology. Targeted at Iranian national oil companies for multi-well field development projects.
• Wellhead and Surface Facilities Construction Design, construction, and installation of wellhead facilities, flow lines, processing units, and storage facilities for oil and gas fields, delivered as part of field development projects for Iranian national oil companies.
• Enhanced Oil Recovery (EOR) Services Enhanced oil recovery projects including acidizing, hydraulic fracturing, large-scale acid stimulation using Coil Tubing equipment, and nitrogen gas lift to maximize hydrocarbon extraction from mature fields. Targeted at national oil companies seeking to revive production in aging wells.
• Seismic Studies 2D and 3D seismic surveys and data processing for oil and gas exploration in various geological settings. Targeted at upstream operators conducting exploration programs.
• Gas Processing and Injection Services Associated gas collection, processing, and injection systems including compressor installation and operation to prevent gas flaring and maximize resource utilization. Targeted at Iranian national oil companies operating fields with associated gas.
• Field Development Plans (FDP/MDP) Consulting Comprehensive field development planning services including reservoir studies, production forecasting, and optimal development strategy formulation for oil and gas fields. Targeted at national oil companies evaluating field development strategies.

Quantifiable outcome

• Cash from operations increased from 9 billion to 426 billion Tomans (47x growth)
• +4 more outcomes

Named customers6 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Nine partnerships are on record, tiered major, core and minor.

• Amirkabir University of TechnologymajorStrategic or Co-development Partner · 9 June 2025A memorandum of understanding was signed between OEID and Amirkabir University for joint cooperation in developing novel technologies, digital transformation, intelligent systems, applied research projects, innovation, and human capital development in the oil and gas sector.
• NIDC (National Iranian Drilling Company)coreStrategic or Co-development Partner · 13 January 2025A 5-year cooperation agreement was signed between OEID and NIDC at the 15th Khuzestan Oil Industry Exhibition. The agreement covers specialized drilling support services, advanced equipment provision, and technical consulting to enhance drilling operations speed and reduce delays.
• OIEC (Oil Industries Engineering and Construction Group)coreStrategic or Co-development Partner · 13 January 2024OEID operates as the primary upstream arm of OIEC Group. The parent company provides strategic direction, project allocation, and coordination with national oil companies. OEID has been assigned by OIEC since 1380 (2001) to focus on oil and gas field development.
• PEDEC (Petroleum Engineering and Development Company)coreChannel Partner/ Reseller/ DistributorOEID executes oil field development projects for PEDEC including the Yadavaran field development project involving drilling 6 wells using EPDS method.
• NISOC (National Iranian South Oil Company)coreChannel Partner/ Reseller/ DistributorMajor client for development of Ahvaz 1&4, Suolabdær, and Havtgol oil and gas fields. Projects include drilling operations, gas processing facilities, and pipeline construction.
• ICOFC (Iranian Central Oil Fields Company)majorChannel Partner/ Reseller/ DistributorOEID provides consulting and engineering services for central oil field development projects.
• Oxin PetrominorOthersContractor company listed on OEID website as a partner for project execution.
• Naft KavminorOthersContractor company in OEID's network for project execution.
• Pars DrillminorOthersDrilling contractor partner for oil field projects.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• MAPNA Group: Largest Iranian energy conglomerate with significant presence in upstream services, power generation, and gas processing; competes for NIOC contracts and provides a comparable integrated energy services platform.
• SLB (formerly Schlumberger): Global oilfield services leader offering drilling, completion, EOR, and reservoir services; not active in Iran under sanctions but represents the global benchmark for the integrated OFS capability OEID is building domestically.
• Halliburton: Major global oilfield services provider competing in drilling, completion, and stimulation; comparable technology platform to OEID's coil tubing, nitrogen lift, and horizontal drilling services.
• Técnicas Reunidas: Spanish EPC contractor specializing in oil & gas, refining, and energy projects; comparable in delivering upstream field development, gas processing, and pipeline construction on an EPC basis.
• Baker Hughes: Global oilfield services and equipment company with exposure to drilling, completions, and gas processing; benchmark for the integrated upstream services model OEID is operating.
• Khatam al-Anbiya Construction Headquarters: Major Iranian engineering and construction conglomerate executing large-scale oil & gas, infrastructure, and energy projects; competes for NIOC field development tenders with broader scale than OEID.
• Petrofac: International EPC and operations services provider for the upstream oil & gas industry; comparable EPC-plus-field-development business model, though focused on Middle Eastern and international markets outside Iran.

Direct peers

• Iranian Offshore Engineering and Construction Company (IOEC): Iranian EPC contractor active in offshore and onshore oil & gas field development; operates in the same NIOC subsidiary tender market as OEID with overlapping drilling, construction, and engineering services.
• National Iranian Drilling Company (NIDC): Iran's state-owned drilling services company and a direct competitor to OEID in rig-based drilling and workover operations; also a 5-year partner/customer of OEID. Most directly comparable in service scope and customer base.
• Petropars Iran Company: Iranian upstream E&P and field development contractor operating South Pars and other major fields; comparable in delivering integrated drilling, production, and processing projects to NIOC subsidiaries.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xtwitter.com/codevz2
• Facebookfacebook.com/Codevz
• LinkedInlinkedin.com/company/oil-and-energy-industrial-development-co-oeid-

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Qeshm Oil and Energy Industries Development Company