Iran Ofogh Industrial Development (IOID) is now more of a service outfit than an exploration and production company, but it once held a small stake in a Western-led Caspian Sea exploration project and has ambitions of becoming one of the new generation of private Iranian E&P players.
IOID has long been working with the big players such as Eni, Sinopec and China National Petroleum Corporation providing field and logistical services at Darkhovin, Yadavaran, Azadegan and elsewhere, but now wants to go further upstream.
