📃History and Management Structure of IOEC (Dossier Six)
🔹In 1992, IOEC emerged as the nation’s first public contractor specializing in offshore projects. Tasked with a crucial role, the company was responsible for the construction and installation of offshore facilities vital to Iran’s oil and gas industry.
🔺Its diverse responsibilities have encompassed project management, design, procurement, construction, installation, and the commissioning of oil drilling projects. IOEC, also known as the Marine Installations Company, is partially owned by the Oil Industry Pension Fund (51%), the Iranian Security Forces Cooperative Foundation (46%), and the company’s employees (3%).
🔸Over the years, the company has had various managers, including the current CEO, Jahangir Poorhang, Hussein Shiva, a graduate of the Imam Hossein University of the IRGC, and Masoud Sultani Pour, associated with the hardline Ansar Hezbollah group and Ali Taheri-Motlagh, who was at the helm during the financial scandals. These managerial changes have largely been driven by the political preferences of each government.
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