What Petroleum Engineering and Development Company does

Petroleum Engineering and Development Company (PEDEC) is a 1994-founded, Tehran-headquartered state-owned subsidiary that operates as the exclusive upstream development arm of the National Iranian Oil Company (NIOC). The company is fully owned by NIOC, which sits under Iran's Ministry of Petroleum, and employs approximately 500 well-experienced technicians and managers at headquarters plus substantial direct field workforces. PEDEC's mandate is to plan, engineer, construct, and implement giant onshore oil and gas field development projects on behalf of the national oil company, and it executes this mandate through Joint Management Committees (JMCs) with EPC contractors and technology partners across a portfolio of more than a dozen field development programs concentrated in the West Karoun region.

Its core product set is industrial rather than digital. The flagship asset is the South Azadegan Central Processing and Export Terminal (CTEP), a 70-hectare facility operating at a 320,000 barrels/day designed capacity that serves as Iran's largest oil processing unit. Around it, PEDEC manages acid fracturing with DFIT reservoir characterization (Sepehr-Jofeyr), radial drilling technology transfer with Russian partner ZNV (Aban, Paydar-e-Gharb), certified bioremediation of hydrocarbon-contaminated soils, and supporting infrastructure including the Goreh-Jask oil transfer pipeline, a West Karoun power plant, strategic crude storage, EOR water injection systems, and a national metering and dispatching program.

PEDEC operates a Business-to-Government (B2G) model: revenue flows from NIOC's program budgets and IPC contract structures rather than from a diversified customer base, with disclosure limited because the company is unlisted. Contractors — including OIEC, MAPNA, Petro Iranian Karoun, Sarvak Oil and Energy Development, Sorosh Karoun, and Sedovat Energy Ghadir — execute under JMC oversight. Go-to-market activity is dominated by government procurement systems (Setadiran) and the annual Iran Oil Show, with international outreach aimed at attracting foreign investment and technology transfer for joint field development.

Name

Petroleum Engineering and Development Company

Legal name

Petroleum Engineering and Development Company

Website

https://pedec.ir

Company type

Private

Founded year

1994

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Petroleum Engineering and Development Company (PEDEC) is the state-owned upstream development arm of Iran's National Iranian Oil Company, founded in 1994 and headquartered in Tehran. It plans, engineers, and implements major onshore oil and gas field development projects — anchored by the 320,000 bbl/day South Azadegan CTEP and West Karoun field portfolio — on behalf of NIOC.

Ownership category

akta.pro rank

Product category

Oil and Gas Field Development Services

NAICS

Crude Petroleum Extraction (21112), Oil and Gas Extraction (211)

SIC

Crude Petroleum & Natural Gas (1311), Oil & Gas Field Services, Nec (1389), Drilling Oil & Gas Wells (1381)

akta.pro primary industry

Oilfield & Refining Specialty Chemicals (IMAEABAI)

Keywords

• Oil field development
• Upstream oil services
• Gas field engineering
• Crude oil production
• Oil infrastructure construction

Headquarters

HQ city

Tehran

HQ country

Iran

HQ region

Middle East

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Oil Field Development Services: PEDEC operates as a state-owned development company implementing oil and gas field development projects for NIOC. The company manages projects from planning through construction and implementation, with focus on increasing Iran's oil production capacity.
2. Crude Oil Production: Development and operation of oil fields resulting in crude oil production. The South Azadegan CTEP project alone has created 1,500 direct jobs and 2,500 indirect jobs with production capacity of 320,000 barrels per day.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels3 records

Core offering

PEDEC plans, engineers, constructs, and implements giant onshore and offshore oil and gas field development projects as the development arm of the National Iranian Oil Company (NIOC). Its core business encompasses exploration, extraction, and production of crude oil, natural gas, and other hydrocarbons through managing major field development projects including the South Azadegan CTEP, the West Karoun region developments, and pipeline infrastructure programs. The company delivers services through contractual relationships with domestic and international contractors, governed by Joint Management Committees.

Product overview

PEDEC (Petroleum Engineering and Development Company) is the upstream development arm of the National Iranian Oil Company (NIOC), established in 1994 to manage and supervise giant onshore and offshore oil and gas engineering and development projects. It does not offer a traditional software product portfolio; its core offerings are oil field development and production services including the design, construction, and operation of crude oil processing facilities. Key active projects include the South Azadegan CTEP (Central Processing and Export Terminal, 320,000 bbl/day capacity), the Goreh-Jask pipeline, the West Karoun power plant, and strategic storage tank programs. PEDEC also provides technology services such as preventive maintenance technology, bioremediation for contaminated soil restoration, acid fracturing (including DFIT diagnostic testing), and radial drilling technology transfer. Its projects are governed through Joint Management Committee (JMC) structures that coordinate PEDEC, NIOC, and contractors. The company's digital services are limited to internal employee portals and government e-procurement interfaces — not developer-facing products.

Differentiator

Problem solved

Functional benefit

Products and services

• Oil Field Development and Production Services PEDEC plans, engineers, constructs, and implements giant onshore and offshore oil and gas projects as the development arm of the National Iranian Oil Company (NIOC). Its core business encompasses exploration, extraction, and production of crude oil, natural gas, and other hydrocarbons.
• South Azadegan CTEP (Central Processing and Export Terminal) The largest crude oil processing and export unit in Iran, designed to provide stable capacity for processing, transporting, and stabilizing crude oil from the South Azadegan joint field and nearby fields in the West Karoun region, with a processing capacity of 320,000 barrels per day.
• Designing and Construction of Oil Facilities in Production (Offshore and Onshore) Core service offering: design and construction of oil facilities at existing producing fields, both offshore and onshore.
• Design and Construction of New Oil Facilities (Onshore) Service for designing and constructing new onshore oil facilities, including wellhead installations, processing units, and associated infrastructure for greenfield oil field development.
• West Karoun Power Plant Construction Construction of a power plant in the West Karoun region to support oil field operations, including secondary facilities, providing electricity for upstream oil and gas operations.
• Goreh-Jask Oil Transfer Pipeline Program A strategic pipeline program to transfer crude oil from the Goreh area to Jask, enabling increased oil export capacity and reducing dependency on transport through the Strait of Hormuz.
• Crude Oil Strategic Storage Tanks Construction Program Construction of strategic crude oil storage tanks to enhance the country's oil storage capacity and support export operations.
• Water Supply for Injection into Oil Reservoirs in Karoun Region Water injection program to support enhanced oil recovery (EOR) operations in the Karoun region oil fields, maintaining reservoir pressure and optimizing production.
• National Metering and Dispatching Program National metering and oil dispatching infrastructure to monitor and control hydrocarbon production and distribution across operated fields.
• Preventive Maintenance Technology for Surface and Subsurface Facilities Preventive maintenance technology applied to improve the performance of surface, subsurface facilities and equipment in West Karoun oil fields, aimed at reducing downtime and extending asset life.
• Bioremediation (Soil Remediation and Restoration) Bioremediation technology used to clean hydrocarbon-contaminated soils in western Iran's oil fields, restoring soil fertility and returning land to natural cycles, with certifications obtained from the Ilam Province Department of Environmental Protection.
• Acid Fracturing Technology Advanced hydraulic acid fracturing technology deployed at the Sepehr-Jofeyr oil field, including Diagnostic Fracture Injection Testing (DFIT) for geomechanical parameter determination and reservoir characterization, marking entry into advanced fracturing operations in West Karoun fields.
• Radial Drilling Technology Radial drilling technology training program conducted in the Aaban and Paydar-e-Gharb oil fields in partnership with Russian company ZNV, aimed at increasing contact surface with the reservoir and improving well productivity.
• Joint Management Committee (JMC) Oversight PEDEC operates Joint Management Committee (JMC) structures for each major oil field development project, coordinating between the company (as employer), NIOC, and contractors to oversee progress, budgets, and technical milestones.

Quantifiable outcome

• 320,000 barrels/day processing capacity (South Azadegan CTEP)
• +5 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• ZNV (Russia)coreTechnology or IntegrationZNV Russian company provides specialized radial drilling technology training in collaboration with PEDEC for Aban and Paydar Gharb oil fields development. Training program includes theoretical education, practical workshop training, and post-workshop sessions as part of Technology of Transfer obligations under IPC contracts.
• Petro Iranian KarouncoreStrategic or Co-development PartnerContractor for Yaran oil field development project, implementing Electrical Submersible Pumps (ESPs) for production increase from this shared field with Iraq.
• ZN Vostok (Russia)coreStrategic or Co-development PartnerRussian international company as contractor for development and production from Cheshmeh-Khosh, Dalpari, and Paydar-e-Shargh oil fields. Project achieved record daily production of 126,000 barrels of crude oil.
• OIEC (Oil Industries Engineering & Construction)coreStrategic or Co-development PartnerMain contractor for Changoleh oil field development project. Third JMC meeting emphasized adherence to project plans and accelerating activities to achieve First Production Target (FTP) on schedule.
• MAPNA (Development of Oil and Gas Power Plants)coreStrategic or Co-development PartnerContractor for Band-e-Karkheh oil field development project, targeting initial production of 2,500 barrels and final production of 18,000 barrels per day, located 20km northwest of Ahvaz.
• Sarvak Oil and Energy DevelopmentcoreStrategic or Co-development PartnerContractor for Azar oil field development (Phase 2), working to increase production to 22,000 barrels per day from current 18,500 barrels.
• Sorosh KarounminorStrategic or Co-development PartnerContracting company for drilling operations in Yaran oil field development.
• Sedovat Energy GhadirminorStrategic or Co-development PartnerDrilling contractor mentioned in oil field operations.

Scale indicators8 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Sonatrach: Algerian state oil company with integrated upstream development and EPC; comparable as a state-mandated NOC executing oil field development, though operating in a more stable political environment.
• China National Petroleum Corporation (CNPC): Chinese state-owned oil major with extensive upstream development in Iran (e.g., North Azadegan Phase 1) and globally; comparable as a sanctions-resistant state EPC partner and major upstream developer, though vastly larger.
• Saudi Aramco: World's largest NOC with integrated upstream development function; comparable as a state-owned oil company executing mega-EPC projects (e.g., Jafurah unconventional, offshore expansion), though vastly larger and unrestricted by sanctions.
• ADNOC:
• Kuwait Petroleum Corporation (KPC): Kuwait's national oil company with integrated upstream development across multiple subsidiaries; comparable in state-mandate structure and mega-project execution focus, particularly in carbonate reservoirs like PEMEX-style fields.

Direct peers

• National Iranian Drilling Company (NIDC): NIOC subsidiary providing drilling and well-servicing for Iranian oil and gas fields; directly comparable as the drilling arm of NIOC, with overlapping capabilities in well construction that PEDEC's projects depend on.
• National Iranian South Oil Company (NISOC): Another NIOC subsidiary responsible for onshore oil field development and production in southern Iran; directly comparable state-owned mandate, same parent, similar EPC-driven business model and project types.
• Iranian Offshore Oil Company (IOOC): NIOC subsidiary operating offshore oil fields in the Persian Gulf; same parent, same regulatory environment, and PEDEC explicitly lists offshore oil facilities as a core service offering alongside IOOC's territory.
• Iranian Central Oil Fields Company (ICOFC): NIOC subsidiary managing central Iranian oil and gas fields; comparable state-owned upstream developer with similar EPC project structure, JMC-style governance, and field development services focus.

Emerging players

• Petrofac: UK-headquartered EPC and operations services provider focused on upstream oil and gas; comparable as a contractor executing field development EPC projects, though privately held and Western-based with no direct mandate.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles27 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 Petroleum Engineering and Development Company