Shah Deniz Gas Field
OIEC was the first private Iranian oil and gas company which participated in an overseas consortium. As a %10 shareholder in Shah Deniz Gas Field Development, OIEC signed a PSA with the State Oil Company of Azerbaijan Republic (SOCAR) along with its six partners from different countries. Later, after the successful production phase, OIEC transferred its shares to Naftiran International Company (NICO).
| Location | Caspian Sea/Azerbaijan Republic |
| Client | State Oil Company of Azerbaijan Republic (SOCAR) |
| Partners | BP: 25.5% Statoil: 25.5% Total: 10% SOCAR: 10% LUKOIL: 10% OIEC: 10% TPAO: 9% |
| Products | Natural Gas: 10 billion m3 per year Stabilized Condensate: 50,000 barrels per day |
| Description | Seismic, 3D seismic acquisition Semi-submersible renovation Drilling (production and appraisal wells) Building a platform Topside and subsea pipeline Production Onshore and offshore facilities |