Dana Energy Becomes Iran’s Second Local Partner Under IPC

On 14th of March 2018, a consortium led by Zarubezhneft (80%) and Dana Energy – local partner (20%) signed an Iran Petroleum Contract (IPC) with the National Iranian Oil Company (NIOC) for the IOR-focused re-development of the Aban and West Paydar oil fields. This is the second major energy deal signed in Iran since the lifting of international sanctions. This contract was signed by Zarubezhneft General Director, Member of Management Board and Director, Sergei Ivanoich Kudryashov and Dana Energy’s CEO and Chairman, Mohammad Iravani with NIOC’s Managing Director, Ali Kardor in Tehran.

The initial memorandums between both companies was signed in December 2015 for the improving recovery factor studies on Aban and West Paydar oilfields.

JSC Zarubezhneft is a Russian state owned oil company based in Moscow that specializes in exploration, development and operation of oil and gas fields outside Russian territory.

Dana Energy Company is a leading private Iranian oil and gas company. The company’s main purpose is to develop upstream oil and gas projects, in addition to provide services in exploration and production, oilfield services and energy trading.