Preface:

  Fifty five years have passed since the National Iranian Oil Company (NIOC) was established in February 1948 with the objective of the exploration, development, production,marketing and sales of crude oil and natural gas. NIOC, having in possession huge hydrocarbon reserves , is considered as one of the largest oil firms of the world.

NIOC's oil and gas in place reserves are 561.9 bn barrels and 41.14 trillion cubic meters, respectively which give it a unique status in the global energy supply. In fact, in recent years, NIOC has been invariably ranked as one of the biggest four global oil companies.

Current NIOC production capacities include over 4 million barrels of crude oil and in excess of 300 million cubic meters of natural gas per day. On the export side, the company benefits from its modern extensive facilities on the three islands of Kharg, Lavan and Siri consisting of 17 jetties capable of berthing tankers of all sizes to lift and export its crude oil.

Organizational Structure:

 NIOC's General Assembly consisting of the President, Vice President, Director General of the Management and Planning Organization, Ministers of Oil, Energy, Industries and Mines,
Labor and Social Affairs, Economy and Finance is its highest decision marking body, determining the company's general policy guide lines, and approving the annual budgets, operations and financial statements and balance sheets The company's Board of Directors has the authority and major responsibilities to approve the operational schemes within the general framework ratified by the General Assembly, approve transactions and contracts, and prepare budgets and Board reports and annual balance sheets for presentation to the General Assembly.

The Board supervises the implementation of general policy guidelines defined by the General Assembly, and pursues executive operations via the company's Managing Director.