3 Qualified Companies Join Petroleum Ministry E&P Firms’ List

Moqaddam told Shana that Ghadir Investment Company, the Pasargad Energy Development Company (PEDC), and Petro Gohar Farasahel Kish Co. (PGFK) were distinguished as qualified following the Petroleum Ministry assessments.

On announcement of the Engineering Affairs Department of Ministry of Petroleum in May, the E&P companies were invited to run the bid and finally nine bidders were deemed qualified and they were given two-month deadline to provide documents.

Article four of the new model of oil contract of the Iranian oil industry emphasizes transfer of and upgrading technology in the oil upstream sector and implementation of giant projects and empowering Iranian companies to implement big projects.

It also underlines presence in the regional and international markets. To this end, the qualified Iranian companies will be present in any contract and on confirmation of the employer, they serve as partners to well-credited foreign oil company or companies. In the course of enforcement of the contract, transfer of technical know-how and managerial skills and reservoir engineering will be possible.