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Iranian Offshore Engineering
and Construction Company (OIEC) is a private company. It is owned in part by
NIOC Pension Fund (NIOCPF) with 51% while Industrial Development and
Renovation Organization (IDRO) own the other 49%. IDRO and NIOCPF select the
members of the Board of Directors who in turn elects IOEC’s Managing Director.
As Iran’s first offshore general contractor, IOEC was
established in 1993 to fabricate and install production facilities necessary
for the oil and gas industry. Since 1999, with the addition of its pipe
coating plant IOEC grow considerably. IOEC has successfully expanded its
offshore services providing projects with full marine fleet support for
pipelaying, installation, hook-up and commissioning.
In 2004, the office for consultants and contractors affairs in
the management and planning organization (MPO) of Iran graded IOEC as a “Grade
One Contractor in the Field of Petroleum, Gas and Petrochemical Industries
(marine installations included).” besides the Persian Gulf, today through its
rapid facility expansion and achievements, IOEC has evolved into an EPCI
contractor at international level capable of providing services in offshore
and onshore projects in the oil and gas industry with complete engineering,
procurement and fabrication, installation and commissioning capabilities. In
order to increase our capacity, IOEC has established many affiliated companies
each specializing in a specific field. This serves as a first step to becoming
an international holding company.
IOEC has the qualified personnel, the required assets and the
latest technology to ensure the highest level of customer satisfaction. At
IOEC, we consider our highly qualified personnel as the main force behind our
rapid growth in the industry. The company can draw upon its highly capable
workforce to manage different projects with its highly motivated personnel
working in various fields, operations and projects that are active under the
supervision of IOEC’s competent managers.
IOEC’s
total assets stands at over $800 million including fabrication yards and a
concrete weight coating plant (CWC), pipelaying vessels and various types of
lifting vessels, barges and all other relevant equipments as well as accounts
receivables and other financial compensations. Last year the company managed
to settle many of its disputes with relevant financial institutions and now
enjoys a good standing with them.
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