Sina Energy Development Company (SEDCO), an energy holding of Bonyad Mostazafan and the Foundation’s second highest exporter and profit generator, is active in the fields of energy exploration, drilling, and refining. SEDCO is being designated pursuant to E.O. 13876 for being owned or controlled by, directly or indirectly, Bonyad Mostazafan;
Sina Energy was established in 2007 and is owned by the Bonyad-e Mostazafan Foundation. The foundation is a religious endowment for war veterans and the poor that is ultimately managed by Supreme Leader Ayatollah Ali Khamenei and is highly affiliated with the IRGC. It controls a large number of industrial and commercial assets, including factories, mines and construction firms;
The Sina Energy Development Company (SEDCO) as Iranian Leading Company in oil, gas and other related energy industries was founded since 2007 with focused mission in providing all aspects of project including feasibility study, project assessment and contract development in following items: -Consultancy -management -Design and planning -Construction and build supervision -EPC/EPCC/EPD (Engineering, Procurement, Drilling). SEDCO with a diverse and highly skilled workforce equipped by the latest technology and knowledge which is engaged in every aspect of following functions: -Exploration -Drilling -Piping -Plant building (realization of complex industrial plant and infrastructural projects);
Sina Energy Development Co. will carry out drilling and repair work on 18 wells as well as building pipelines for Phases 1 and 4 of the Marun oil field in southwestern Khuzestan province, a report on mfnews.ir said, quoting the company’s managing director, Javad Owji;
OFAC is designating SEDCO’s managing director, Javad Oji. Javad Oji is being designated pursuant to E.O. 13876 for being a member of the board of directors or a senior executive officer of SEDCO;
– Behran Oil Co
– Coal Tar Refinery Co
– North Drilling Co.
– Payandan Co
– Pars Energy Gostar Co.
– Pishro Iran Co.
SEDCO’s Iran-based subordinate companies Payandan Company, Coal Tire Refining Company, Pishro Iran Financial and Investment Company, Pars Energy-Gostar Drilling and Exploration, and North Drilling Company are also being designated pursuant to E.O. 13876 for being owned or controlled by, directly or indirectly, Bonyad Mostazafan;
Also Known As:
Sina Energy Development Company
Sina Energy Development Co.
14th Floor,Building No. 1,the Central Building of the Muslim Revolutionary Islamic Foundation, not reaching the Blvd. Africa,Highway of Mission,Tehran, Iran
Reason for the color:
» Added to the Specially Designated Nationals (SDN) list maintained by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) on November 18, 2020 pursuant to Executive Order 13876 for being a person appointed by the Supreme Leader of Iran to a position as the head of an entity located in Iran, and for having acted or purported to act for or on behalf of, directly or indirectly, Bonyad Mostazafan;
» Khamenei-Controlled Company to develop Iran’s marun oil field;