Iran’s international relations and trade is heavily centered around two products: oil and gas. Its natural resources have kept the Middle East country in a dispute with its largest buyers, the U.S. and Europe.
The Iranian Offshore Engineering and Construction Company (IOEC) is at the middle of this discord. It is the Iranian leader oil and gas contractor. Given that Iran boasts the fourth largest oil reserves in the world, IOEC has a role of global significance.
For 100 years, since the first oil fields were found in Iran, the country has maintained a complex relationship with Europe and the United States. The main reason is their dependence regarding oil and gas.
Although British Petroleum was nationalised in 1951, it wasn’t until 1979, with the intervention by Imam Khomeini, that Iran gained total control over their own resources.
The thing is that Iran’s black gold is a resource of incalculable fortune, representing 6% of planetary needs. IOEC is responsible for maintaining the standards of this powerful industry at the quality levels that importing countries demand. Working closely with the National Iranian Oil Company, it carries out the engineering, procurement and construction of the offshore oil and gas projects.
Established in 1993, the company has experienced very fast growth reaching a turnover of 7,000 million dollars in the 2010 financial year.
The ability to operate efficiently at sea reflects the nation’s capacity for business. And an impact of these dimensions to their national assets represents victory in terms of business excellence. Business Initiative Directions has awarded the IOEC several times due to its commitment to quality.