Dana Energy

Dana Energy () is a private oil and gas company headquartered in Tehran, Iran. It is an exploration and production (E&P) and oilfield services company operating in Middle East and Asia. Formed in 2000, they were initially an oilfield services company and ventured into field development in 2008. By the addition of petroleum products trading to its portfolio in 2013, Dana Energy extended their business into the midstream sector, however due to sanctions imposed on Iran, their trading division came to a halt.

History

Dana Energy was established in 2000 in Tehran, as a privately held company with the main purpose of providing service to upstream oil and gas projects. The company started its first seismic project and service provision for Iran's upstream sector in 2002. In 2003, they embarked on seismic services in Iran's south western oil fields. In 2006, the company got involved in the execution of drilling projects and the provision of rig and drilling services.

Their onshore drilling services and rig lease began in 2007. Dana Energy was awarded drilling contracts in 2008 for 225 wells in Phases 15&16 of South Pars, and in 2011 drilled another 22 wells in phases 17&18. A year later, the first international experience was carried out by fulfilling two seismic projects in Pakistan. In 2013, their petroleum products trading commenced and in 2015, the new corporate governance model was launched. The new governance model restructured the company by transitioning from a holding structure to a corporate one, consolidating all its divisions and subsidiaries under a single brand. The rebranding coincided with this change, ensuring that the visual identity of the brand aligns with the new business approach, which aims to be more dynamic, streamlined, and efficient.

Dana Energy was the first privately held company in Iran to qualify as an E&P company by NIOC in June 2016.

Corporate Image

Logo Evolution

The initial logo for the brand was introduced in early 2000s, drawing inspiration from the Sun as a symbol of paramount and universal energy source. The incorporation of a flame element further echoes the essence of the company's role in the energy sector. Subsequently, in 2015, the brand logo underwent a redesign, accompanied by the development of detailed visual identity guidelines.

Slogan

The company's slogan is "''Powering Nations, EnergyWise''."

Business Segments and Units

Dana Energy is currently organized into three business segments: Exploration and Production, Oilfield Services and Investment.

Exploration and Production

A deal was struck on 14 December 2008, for Dana Energy to acquire Petroiran Company under the privatization law, which permitted the government to sell its assets. The purchase, however, wasn't finalized. The acquisition was initially conducted following Dana Energy's strategy in becoming an E&P company.

Since its qualification, Dana Energy has signed several Memorandum of Understandings (MoUs) with international oil companies for development studies on Iranian oilfields. These MoU include: Austria's OMV for Band-e-Karkheh, Norway's DNO for Changuleh Sohrab, West-Paydar and Aban are other oilfields that have been studied by Dana Energy and their partners. Dana Energy signed another MoU with NIOC or the development study of Sepher and Jufeyr oilfields.

Dana Energy’s E&P portfolio currently includes two brownfield oilfields, Aban and West Paydar, where it acts as a non-operator, and the Sohrab greenfield oilfield, operated directly by the company. The segment targets a production level of approximately 36,000 barrels of oil per day (BOPD) with reserves exceeding 170 million barrels of oil equivalent (BOE). The company aims to increase production to 100,000 barrels of oil equivalent per day (BOEPD) in the mid term, primarily through organic growth.

The segment utilizes advanced technology in exploration and production processes and incorporates environmental and social considerations into its operations. Corporate social responsibility efforts include initiatives aimed at improving local health, education, and environmental preservation, particularly around the Sohrab field near the Hour-al-Azim region.

First oil from the Sohrab oilfield was achieved in January 2024.

Oilfield Services

Dana Energy's OFS segment includes Geophysical Services, Geotechnical Drilling, Drilling Operations, Well Services, Drill Bit and Downhole Tools, Oil Tools and their most recent business unit, Tubular Connections.

Over the years, the company has carried out several offshore and onshore projects, mostly in the southern and western parts of Iran, with South Pars being one of their most prominent megaprojects.

44 wells were drilled in total in Phases 15, 16, 17, and 18 with contracts exceeding US$1.7 billion. The company has a record of drilling 497 meters a day in well SPD16-06. More than 6,000 meters were perforated in less than two months with minimum nonproductive time. Dana Energy has also carried out simultaneous operations (SIMOPS) which included, drilling new wells, acidizing and clean-up of finished wells whilst producing gas in phase 15. This job was one of a kind in the region and was successfully managed with high safety standards. Dana Energy provided cementing and stimulating services in Phases 9, 10, 14, 15, 16, 17, 18, 20, and 21 of the South Pars.

In 2023, Dana Energy added a Snubbing Unit (Hydraulic Workover Unit) to its portfolio. The unit has a working capacity of 460,000 pounds-force (lbf) and is designed for efficient well intervention operations in both onshore and offshore fields.

Geophysical Services

Dana Energy's Geophysical Services specializes in 2D and 3D data acquisition, employing techniques like structural interpretation and velocity model building. For non-seismic services, they survey design and geological interpretation, maintaining an extensive non-seismic equipment fleet. They have also completed gravity/magnetic projects in oil and gas exploration.

The company is equipped with a data processing center. In 2012, this department was awarded the contract for Bibihakimeh project, which was the largest mountainous 3D seismic operation in Iran. This project was located in south west of Iran, covering 1627 km² and 106,222 shot points were recorded in this project.

In 2016, Dana Energy signed an agreement with France's CGG Services SA to cooperate in defining, execution and implementation of onshore seismic data acquisition and processing projects in Iran.

Dana Energy's Geophysical Services international activities started in Pakistan, where two 3D seismic data acquisitions in Ratana and Sadiqabad and a 2D seismic data acquisition in Hisal were carried out.

In early 2023, the company started the Haftkel Nafte Sefid project, which is Iran's largest seismic 3D land survey to date. The projects aims to acquire complementary 3D seismic data for the Haftkel field and to identify the relationship between Haftkel, Nafte Sefid and other prospect fields.

Geotechnical Drilling

The core of Dana Energy's geotechnical activities revolves around drilling seismological holes for exploratory oil and gas projects. They operate in various geographical and topographical terrains, including challenging mountainous terrain, for which helicopters are required. Their assets include two heavy drilling trucks (Buggy), eight tractor drilling rigs (HY-T100), 40 portable and detachable drilling machines (DORFAK), 40 portable and detachable drilling machines (Agile), 10 optimized portable drilling compressors transportable by helicopter, over 80 high-pressure air compressor machines suitable for diverse topographical and mountainous conditions with limited access, as well as a range of inventory of drilling accessories and side equipment.

They also hold licenses in the Integrated Management System (IMS), Quality Management System HSE-MS, and complies with ISO standards including ISO14001:2015, ISO9001:2015, and ISO45001:2018.

Drilling Operations

The drilling operations of Dana Energy is among their well established business units with an operational history of two decades. They offer onshore and offshore drilling alongside rig management, procurement and production engineering. The company owns three proprietary land rigs.

The mega drilling endeavors began in 2008 with the development of South Pars gas field phases 15 & 16, followed by SPD 17B & 18B, resulting in the delivery of 44 offshore wells with a project size of approximately 1.8 billion USD.

Among Dana Energy's accomplishments is the drilling of the deepest vertical offshore well, achieved through MLS technology in the Belal project. Additionally, the company has successfully completed onshore drilling projects in the Azadegan and Nargesi fields, along with workover projects in the West Paydar fields. A recent achievement of this business unit involves the completion and operation of 11 ESP pumps in the Aban and West Paydar fields.

Well Services

Dana Energy's Well Services focuses on delivering drilling and workover to clients in the region. Known for their reliable performance and efficiency, they provide well cementing, acidizing, stimulation, special downhole tools, coiled tubing, nitrogen lifting, and cementing/stimulation laboratory services. Their laboratory in Kish Island operates round the clock and provides cementing and stimulation services.

They have been involved in several offshore cementing projects in various phases of South Pars, and has served as a contractor for the Iranian Offshore Oil Company (IOOC), offering cementing services for oil well projects in the Persian Gulf. The establishment of onshore cementing services with portable cement bulk silos has expanded Dana Energy's reach to serve drilling rigs continuously.

The Stimulation Services, initiated in 2012, cover a range of services, including on-platform services for offshore drilling and production platforms in the Persian Gulf, as well as well stimulation in various oil and gas wells. The services include near wellbore, matrix and fracturing acidizing, solvent injection, nitrogen lifting, and well clean-up operations.

Parallel to the provision of cementing services, the company has equipped a Stimulation Vessel with an acid capacity of 90,700 Gallons.

In response to the rising market demands, Dana Energy established their Integrated Drilling Services (IDS) division in 2021. IDS aims to provide a comprehensive range of drilling and production services. Among their recent achievements is securing a contract with IOOC, marking the first Iranian company to own an operational 460K snubbing workover unit in the Persian Gulf offshore fields, providing rental equipment for various projects. IDS offers services such as Coiled Tubing, Surface Well Test, MOS, H2S, Drilling Mud material services, and is actively expanding its market presence through diversification in their service offerings.

Bit and Downhole Tools

Dana Energy's Bit and Downhole tools is a prominent supplier of various drilling bits and tools in the oil and gas industry in Iran. Their product range includes PDC bits, roller cone bits, bi-center bits, core bits, under reamers, and hybrid bits. They also offer a selection of drilling and sidetracking tools, such as whip stocks, reamers, and drilling tools.

In the field of drilling services, they are the first company in Iran to provide Multi-Lateral drilling services for all types of wells. Additionally, they offer directional drilling services, MWD/LWD & RSS provision, and various other services to meet the rising needs of their clients in the region.

Oil Tools

In December 2021, in order to expand their chain of services, Dana Energy acquired full ownership of BGI (Black Gold Innovation) manufacturing company. BGI was later rebranded to Dana Energy Oil Tools in December 2022. This strategic decision was made in line with the rising needs of the Iranian oil and gas market for domestically produced equipment, which could be seen as a direct result of the heavy sanctions imposed on the country in recent years.

Dana Energy oil tools with a factory of about 5.000 sqm located in Tehran and with more than 30 production machines, designs and manufactures a range of well completion equipment for onshore and offshore wells. These products fall under the categories of safety systems, Packers systems, gas lift systems and flow control equipment.

In 2023, the company also obtained an IPI V0 certificate for SABL3 Permanent Packer, Size 7" for the first time in Iran.

Tubular Connections

Dana Energy's Tubular Connections is their latest business unit which was introduced in early 2023 and is a provider of tubing and casing, available in both API and Premium Connections, with sizes ranging from 2.7/8" to 20" O.D.

Their product line includes a selection of materials, including chrome-grade tubulars, carbon steel line pipes for oil and gas transmission, and high-alloy tubing designed for drilling complex wells in accordance with API 5CT standards. Specialized grades are available to cater to the needs of deep well applications and sour gas well services, featuring high collapse properties.

Their factory is equipped with production lines that oversee all stages of OCTG (Oil Country Tubular Goods) finishing, ranging from coupling threading to final marking and packing. Their range of connections includes Premium and Phantom-HC™ connections for casing and tubing, as well as integral premium connections tailored to various types of upset tubing.

Investment

Dana Energy's Investment segment offers consulting services for investment and strategic decisions.

Dana Energy has invested in the Carbon Bared Factory, a unique project in Iran that captures CO2 emissions from Tehran Oil Refinery to produce liquid CO2. With the support of Dana Energy, the factory has achieved sustainable operations and a 31% reduction in refinery CO2 emissions. Currently, it produces 75-80 tonnes of liquid CO2 per day, serving industries like coolant, disinfectant, and automotive. The recovered CO2, equivalent to the carbon absorbed by over 1.2 million mature trees, underscores the factory's contribution to positive climate action and green technology investments.

Another investment by Dana Energy is the Kurdeh solar farm, a 10-megawatt capacity power plant supplying electricity to approximately 2,000 households. Operating as a decentralized energy source, the plant covers a 20-hectare plot of land and is equipped with 30,000 solar panels and 66 inverters.

References

{{Petroleum industry

Oil and gas companies of Iran
Oilfield services companies
Companies based in Tehran
Iranian entities subject to U.S. Department of the Treasury sanctions