Dana Energy

What Dana Energy does

Dana Energy is a Tehran-headquartered, fully private Iranian integrated energy company founded in 2004, operating across three business segments: Exploration and Production (E&P), Oilfield Services, and Capital Development. In E&P, the company serves as operator on the Sohrab field under a 20-year contract (with first production achieved in February 2024) and as a non-operator local partner (20%) in the Zarubezhneft-led consortium developing the Aban and West Paydar fields under an Iran Petroleum Contract (IPC); Dana Energy is one of only eight Iranian companies qualified by the Ministry of Petroleum as a local partner and is the only fully private entity in that group.

The Oilfield Services segment is the operational backbone, comprising geophysical services (2D/3D seismic acquisition and processing using locally developed software), geotechnical drilling, drilling operations (with owned fleet including the proprietary Dana-1 and Dana-4 2,000 HP rigs), well services (cementing and acidizing, plus the Ahvaz Well Services Laboratory launched December 2025), bit and downhole tools (including the proprietary Shuriken Reamer), oil tools and completion equipment, tubular connections, and rig solutions. Proprietary technologies include the Shuriken Reamer, Advanced Seismic Reprocessing methods (FWI, Q-Tomography, Diffraction Imaging), and self-designed drilling waste management equipment enabling a 'Zero Discharge' service model. The newly launched Smart Field Platform (2025) adds a digital operations layer.

Revenue is generated primarily through competitive tenders with NIOC and its subsidiaries (PEDEC, NISOC, ICOFC, Pars Oil and Gas Company), strategic partnerships with international energy companies under IPC contracts, and direct equipment supply contracts. The company reports $268M FY2024 revenue with $26.1M net profit, a headcount of 2,500+, operations across Tehran (HQ plus manufacturing), Ahvaz (onshore base), and Kish Island (offshore base), and a recent strategic pivot into renewable energy via its Capital Development arm. All revenue is currently generated from Iran, exposing the business to sanctions-related and concentration risks.

Name

Dana Energy

Legal name

Dana Energy

Website

https://danaenergy.com

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Dana Energy is a fully private Iranian integrated energy company (founded 2004, Tehran) operating across Exploration and Production, Oilfield Services, and Capital Development segments. It serves NIOC and its subsidiaries through competitive tenders and IPC partnerships, with proprietary technologies spanning drilling, seismic processing, and digital field management.

Ownership category

akta.pro rank

Headquarters

HQ city

Tehran

HQ country

Iran

HQ region

Middle East

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Exploration and Production: Operating as both operator and non-operator in oil and gas field development projects, including the Sohrab field development project (20-year operator contract) and Aban/West Paydar fields (non-operator IPC contract). Revenue generated through production share and technical services.
2. Oilfield Services: Comprehensive oilfield services including geophysical surveys, geotechnical drilling, drilling operations, well services, and supply of downhole tools and oilfield equipment. Projects awarded through competitive tenders from NIOC subsidiaries and international partners.
3. Equipment Supply: Manufacturing and supplying completion equipment, drill bits, downhole tools, casing pipes, and tubular goods to clients including ICOFC and drilling contractors.
4. Capital Development / Investment: Strategic investments in energy sector projects including renewable energy and green initiatives, with recent exit from Carbon Bared investment to focus on solar power investments.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels8 records

Core offering

Dana Energy is an integrated upstream oil and gas company that operates across Exploration and Production (operator and non-operator roles in Iranian oil fields), Oilfield Services (seismic acquisition and processing, geotechnical drilling, drilling operations, well services, bit and downhole tools, completion equipment, casing pipes, and rig solutions), and Capital Development (strategic energy investments including renewables). It serves NIOC, its subsidiaries, and international energy partners primarily through competitive tenders and IPC contracts, supported by proprietary technologies such as the Shuriken Reamer and locally developed seismic processing software.

Product overview

Dana Energy is a pioneering private Iranian oil and gas company operating across three main business segments: Exploration and Production (E&P), Oilfield Services, and Capital Development. The Oilfield Services segment comprises multiple specialized divisions including Geophysical Services (2D/3D seismic acquisition and processing), Geotechnical Drilling, Drilling Operations (with proprietary Dana-1 and Dana-4 rigs), Well Services (cementing and acidizing), Bit and Downhole Tools (including the Shuriken Reamer), Oil Tools (completion equipment), Rig Solutions, and Tubular Connections. The company also operates digital platforms including the Smart Field Platform and E-Learning Platform, along with specialized laboratories. Capital Development manages strategic investments with a growing focus on renewable energy.

Differentiator

Problem solved

Functional benefit

Products and services

• Exploration and Production (E&P) Oil and gas field development and production operations including operator and non-operator roles in Iranian oil and gas fields such as Sohrab (20-year operator contract), Aban, and West Paydar. Targets domestic and international energy companies and NIOC subsidiaries.
• Geophysical Services 2D and 3D seismic data acquisition and processing services using vibrators and dynamite energy sources, covering exploration and reservoir development studies. Includes advanced processing techniques such as Anisotropic Pre-stack Depth Migration, Full Waveform Inversion (FWI), Diffraction Imaging, and Q-Tomography.
• Geotechnical Drilling Specialized drilling services for seismic shot hole operations in challenging terrain, including manual drilling rigs and tractor-based units for geophysical survey preparation.
• Drilling Operations Full-scale drilling operations using 2,000+ HP drilling rigs (including proprietary Dana-1 and Dana-4 rigs) for exploratory and development wells. Features closed-loop automation systems for improved drilling performance.
• Well Services Cementing, acidizing, and well stimulation services for gas and oil wells, including large-scale cement slurry pumping operations. Operations supported by the Ahvaz Well Services Laboratory equipped with HPHT instrumentation.
• Bit and Downhole Tools Advanced drill bits and downhole tools including the proprietary Shuriken Reamer with PDC cutters in active and passive sections, designed for smoother wellbores and reduced non-productive time during drilling operations.
• Oil Tools Completion equipment including completion strings with 13% chrome material, 5,000 psi working pressure, and running/installation services for oil and gas wells.
• Tubular Connections Casing pipe products and services for drilling operations, including specialized sizes (18 5/8 and 13 3/8 inches) for well construction.
• Rig Solutions Rig asset management and self-designed drilling waste management equipment achieving 'Zero Discharge' environmental standards, developed in partnership with local Tabriz knowledge-based industrial partner.
• Capital Development Strategic investment arm focused on energy sector investments with increasing emphasis on renewable energy and solar power, following recent exit from Carbon Bared investment.

Quantifiable outcome

• Reduced drilling time by approximately 30% and decreased well-cleaning and borehole stabilization time by about 15% using Shuriken Reamer technology
• +5 more outcomes

Named customers9 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability6 records

Feature6 records

Partnerships

Eight partnerships are on record, tiered strategic and core.

• Petroleum University of TechnologystrategicStrategic or Co-development Partner · 12 August 2025MOU signed for cooperation in education, research, and workforce development. Aims to strengthen ties between industry and academia in oil and gas sector.
• Amirkabir University of TechnologystrategicStrategic or Co-development Partner · 9 May 2024MOU signed to enhance industry-academia collaboration. Includes support for research endeavors, internship opportunities, R&D funding, and discussions on building meaningful collaboration between universities and energy industry. Supports Bavar program for fresh graduate entry into energy sector.
• MiMGO (Russia)coreTechnology or Integration · 1 January 2024Foreign technical partner for Farzad-B gas field seismic reprocessing project. Joint implementation of Anisotropic Pre-stack Depth Migration, Full Waveform Inversion, Diffraction Imaging, and Q-Tomography technologies - the latter two being first-ever implemented in Iran.
• Lule Gostar Esfarayen Company (LGECO)coreStrategic or Co-development Partner · 1 December 2023Strategic collaboration for casing pipe production (18 5/8 and 13 3/8 inches) valued at over 7 million euros for West Paydar project. LGECO operates as exclusive producer of casing pipes in Iran, making them essential supplier for oilfield projects.
• Apadan VCstrategicStrategic or Co-development Partner · 1 June 2020Co-founded Energic Innovation Center established at Amirkabir University of Technology. Venture aims to be heart of technological innovation in Iran's energy industry, bringing together corporations, entrepreneurs, and venture capital.
• Zarubezhneft (ZNV)coreStrategic or Co-development Partner · 14 March 2018Historic IPC partnership for IOR-focused re-development of Aban and West Paydar oil fields. Consortium led by Zarubezhneft (80%) with Dana Energy as local partner (20%). Project investment estimated at 740 million USD with targeted production of 67 million barrels over 10 years. This was Iran's second major energy deal post-sanctions lifting.
• Tabriz Knowledge-Based Industrial PartnerstrategicTechnology or IntegrationLocal industrial partner for development of drilling waste management equipment, enabling Zero Discharge service model. Partnership contributed to self-sufficiency milestone in rig asset management.
• Petro Gohar Pars KishcoreStrategic or Co-development PartnerProject contractor for South Pars Phase 13 acidizing operations. Partnership enabled optimized production and stable output from gas wells through close collaboration between Dana Energy engineering/operations teams, contractor, and main client Pars Oil and Gas Company.

Scale indicators9 records

Recent moves8 records

Expansion highlights6 records

Emerging players

• CGG: French geoscience company specializing in seismic data acquisition, processing, and subsurface imaging. Comparable given Dana Energy's Memorandum of Collaboration with CGG and overlap in advanced geophysical services and seismic reprocessing technologies.

Broad incumbents

• Saipem: Italian oilfield services and engineering company active in drilling, EPC, and offshore projects globally. Comparable as a broad incumbent peer in upstream oil and gas services including drilling and field development.
• Halliburton: Global oilfield services major with drilling, completion, and well services offerings. Comparable as an incumbent peer in drilling services, drill bits, and well stimulation — services Dana Energy provides domestically to NIOC.
• SLB (formerly Schlumberger): Global oilfield services leader offering drilling, geophysical, and integrated project management services worldwide. Comparable as a broad incumbent in the same oilfield services categories Dana Energy provides, with overlapping seismic and drilling technologies.
• Weatherford International: Global oilfield services and equipment provider specializing in drilling, evaluation, and production technologies. Comparable to Dana's Bit & Downhole Tools, Oil Tools, and Tubular Connections product lines.

Direct peers

• Petropars: Iranian E&P and oilfield services company operating in Iran's upstream sector, including the South Pars gas field. Directly comparable as a domestic competitor in seismic, drilling, and field development services targeting NIOC and its subsidiaries.
• Mapna Drilling Company: Iranian drilling contractor operating high-HP rigs for NIOC and IPC partners. Directly comparable as a domestic drilling services peer; both companies share major clients (NIOC subsidiaries) and compete on rig fleet quality and drilling performance.
• National Iranian Drilling Company (NIDC): State-owned drilling services subsidiary of NIOC providing onshore and offshore drilling services across Iran. Closest domestic peer given Dana Energy's drilling operations business and similar customer base.
• Iranian Offshore Engineering and Construction Company (IOEC): Iranian offshore oil and gas engineering, procurement, and construction company. Comparable in providing offshore and onshore oilfield infrastructure services to NIOC, including platform construction and marine operations similar to Dana's Kish Island offshore base.
• Zarubezhneft: Russian state-owned oil company and Dana Energy's IPC consortium partner (80/20 split) for Aban and West Paydar fields. Comparable as a foreign E&P operator partnering with local Iranian companies under the IPC framework.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xtwitter.com/danaenergy
• YouTubeyoutube.com/@danaenergy8706/featured
• Facebookfacebook.com/danaenergy
• LinkedInlinkedin.com/company/danaenergy
• Instagraminstagram.com/dana_energy

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries1 record

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 Dana Energy