Since 1951, National Iranian Oil Company (NIOC) has been directing and making policies for exploration, drilling, production, research and development, refining, distribution and export of oil, gas, petroleum products.
NIOC has a vast amount of oil and gas resources. At the present time, it is estimated that the company holds 156.53 billion barrels of liquid hydrocarbons and 33.79 trillion cubic meters of natural gas.
The company has taken major steps toward establishing business enterprises, funded financial resources for development, helped to update technologies for exploration, drilling and production with reliance on the knowledge of Iranian experts.
NIOC consists of seventeen production companies, eight technical service companies, seven managements, six divisions (administrative units) and five organizational units.
Exploration, drilling, production, research and development, refining, distribution and export of oil, gas, petroleum products.