Executives of several international energy companies and senior British diplomats gathered on Tuesday, 12 September, 2000, to welcome a new company in town: Enterprise Oil.
Enterprise Oil is the largest independent oil company of its kind in Europe. A strong, balanced company with a visionary approach, Enterprise Oil possesses an astute management and consistent business strategy. Its specialisation is in the exploration, development and production of hydrocarbons in unique and complicated conditions, requiring specialised operations and know-how..
The company’s strategy is to achieve profits through organic growth in its core areas as well as in a few carefully selected emerging areas, supplemented by value-adding acquisitions where appropriate. Enterprise has a diverse portfolio of quality assets which it believes is fundamental in achieving this strategy.
The company’s main activities are concentrated on UK/Ireland; Norway/Denmark; and Italy. Enterprise is currently expanding its business in Brazil and the US Gulf of Mexico. Internationally, Enterprise is dedicated to the new venture areas of Iran, Greece, and Morocco and looks forward to developing its activities there in the future.
The company, and its strategies vis-à-vis Iran, are better explained in the opening address of Enterprise Chief Executive Pierre Jungels:

Enterprise Oil Line up: Chief Executive Pierre Jungels,Corporate Development Director Kevin Watts,Commercial Advisor Paul Mullarkey, General Manager for the Middle East David Grassick, Iran Office Manager Massoud Haghayeghi and New Business Manager for Iran John Austin

It is a great pleasure to be in one of the cradles of civilization, which is wealthy in cultural, human and natural resources. Enterprise Oil is the leading British independent exploration and production company, indeed the largest in Europe. We are actively involved in several core areas across the world: United Kingdom, Ireland, Norway, Italy, US Gulf and Brazil.
The company has been pursuing opportunities in Iran for over two years now. To Enterprise, Iran is the most significant country in this region and we fully intend to make it one of our core areas.
We take pride in our company and particularly in our partnership skills. In all its operation areas, Enterprise has a track record of working successfully with host governments, national oil companies, local companies and contractors, and indeed the foreign oil companies.
Persistence and commitment are the qualities that Enterprise Oil has in abundance. As one example, in Italy we are the key player in the country’s oil industries (second only to ENI) and we have built this presence over a number of years. Enterprise first entered the country 15 years ago, and the company’s persistence is now paying off in the Val d’Agri development in the mountains of southern Italy – the largest onshore oil field in Europe. We hope and believe that we will not have to wait as long to build a business in Iran.

Persistence and commitment are the qualities that Enterprise Oil has in abundanceA

Shell executives Edi Cartier and Robert Weener talking to Enterprise chief executive Pierre Jungels and new business manager John Austin

Technically, we have learnt much in Italy that is directly applicable to the oil reservoirs of Iran. Enterprise hopes to utilize the knowledge gained in its future work in Iran. Enterprise is a technically driven company with strong sub-surface and field development skills.
The lessons learnt in our exploration and production activities across the globe are valuable in our future pursuits, and we share this knowledge and apply it in all areas in which we operate. Transfer of technology and best practice is inherent in the Enterprise culture, and we aim to be not just a constructive partner in a project, but the partner of choice.
Compared to its peer group of exploration and production companies, Enterprise is viewed as a best-in-its-class performer as it continues to grow while it maintains financial strength. The company has recently unveiled record first half net profits of 239 million pounds, or 350 million dollars, achieved not just because of the rise in oil price, but also because of a 40% increase in our production last year. With rising production and several development projects in the pipeline we are gearing ourselves up for a period of continued growth and delivery.
I look forward with relish to a future for Enterprise in Iran and feel sure that we will build a healthy and successful business in Iran in time to come.u

Enterprise Oil Middle East Ltd. No. 30, Ahmad Ghassir Ave., Armita Building, 10th Floor Tehran 14137 IRAN Tel: (+98 21) 872 98 80-3 Fax: (+98 21) 872 98 89stin