Drilling

According to a response sent to Minnesota State Board of Investment in January 2019, "Odfjell Invest Ltd nor any of its affiliates has had any active business operations in Iran after 4 November 2018. Since entering the Iranian oil and gas market in 2016, Odfjell Well Services II Ltd ("OWS"), a company in the Odfjell Drilling group, held two contracts until the end of the wind-down period on 4 November 2019: 

• Iranian Offshore Engineering and Construction Co
• Drilling Company INternational

All activities under these two contracts were terminated by OWS prior to the end of the wind-down period. Personnel and equipment demobilizaton was initiated before the end of the wind down period and completed shortly thereafter. 

--

Odfjell was removed from the May 15, 2019 Iowa Public Employees' Retirement System Iran Prohibited Companies List.

--

In 2019, CalSTRS identified Odfjell Drilling as potentially having ties to Iran. CalSTRS
subsequently removed Odfjell drilling after confirming the winddown of their Iranian involvement and reviewing the company’s internal controls. 

The National Iranian Drilling Company, a subsidiary of the National Iranian Oil Company, has signed a memorandum of understanding with the Polish EXALO Drilling SA to cooperate in oil and gas development projects. (May 10, 2018).

"France's Altea Resources signed a memorandum of understanding with the North Drilling Company, a subsidiary of the National Iranian Oil Company, to cooperate in drilling-related operations and services." (November 4, 2017)

Lists Kavosh Azmoon Co. as its representative in Tehran, Iran.

--

botek Präzisionsbohrtechnik GmbH (“botek”) was listed as an exhibitor at the Internationale Ausstellung für Metallbearbeitung (International Exhibition for Metalworking Companies; “AMB Iran 2017”), which took place on May 23-26 in Tehran, Iran.

As of March 9, 2021, Anton Oilfield Services Group remained on the Florida SBA List of Continued Examination Companies with Petroleum Energy Activities in Iran. 

--

As of December 2020, Rhode Island continues to list Anton Oil as an Iran scrutinized company for active involvement of at least $20-50 million in Iran's energy sector.

--

 In 2020, the U.S. state of Mississippi listed Anton Oilfield Services on its state lists of Companies Doing Business with the Iranian Petroleum/Natural Gas, Nuclear and Military Sectors, rendering ADKL ineligible for investment and/or state contracting.

--

"The company has been identified as potentially providing oil and gas field equipment in Iran. In 2019 CalPERS designated the company as under review. In 2020 CalPERS changed the designation to “being monitored” because CalPERS’ initial screening has not identified the company as having involvement in the regions and/or activities targeted by the Act. CalPERS continues to monitor the company for possible changes in status relevant to the Act."

--

"Anton Oilfield Services was identified as potentially providing oil and gas oilfield equipment to Iran. In 2018, CalSTRS identified Anton Oilfield Services as potentially having ties to Iran and began the review process. In 2019, CalSTRS removed Anton Oilfield Services as it no longer held any of the company’s securities and subsequently restarted the review after shares were acquired. In 2020, CalSTRS removed Anton Oilfield Services as it no longer held any of the company’s securities."

--

As of May 28, 2020, the Florida State Board of Administration (“SBA”) continues to list Anton Oil on its list of “Continued Examination Companies with Petroleum Energy activities in Iran.”  The SBA continued examination category is defined as “At least one External Research Provider indicates that a company meets the classification of a Scrutinized Company as defined by the PFIA as set forth in Section 215.473, (1)(5)1., 2., or 3, Florida Statues [Sudan] or Section 215.473(t)1, Florida Statute [Iran]. In other words, the External Research Providers do not agree on the status of a company and the SBA is unable to definitively categorize the company’s activities as scrutinized without further research to resolve the differences. For companies classified as “Continued Examination,” the SBA will begin an engagement process to clarify each firm’s current business relationships.” 
--

As of December 31, 2019, the Alaska Retirement Management Board lists Anton Oil as a company doing material business with Iran.  

--

In 2018, the California State Teachers Public Employees Retirement System (“CalSTRS”) identified Anton Oil as potentially having ties to Iran for providing oil and gas oilfield equipment to Iran and began the review process. In 2019, CalSTRS removed Anton Oil as it no longer held any of the company’s securities and subsequently restarted the review after shares were acquired. 

--

Anton Oilfield Services is listed on the 2019 Rhode Island list of businesses doing business with Iran. 

--

On March 13, 2019, the Mississippi Department of Finance & Administration identified Anton Oil as a company “engaged in investment activities in Iran, providing funds, goods or services valued at $20,000,000 or more in the energy sector of Iran.”
--

Anton Oilfield Services is listed on the June 2019 Alaska Retirement Management Board, Companies Doing Material Business with Iran list.

--

Anton Oilfield Services is listed on the March 2019 Alaska Retirement Management Board, Companies Doing Material Business with Iran list.

--

In December 2018 Florida listed Anton Oilfield Services on its continued examination list of companies with petroleum energy activities in Iran.

--

Anton Oilfield Services was identified as potentially providing oil and gas oilfield equipment to Iran. In 2018, CalSTRS identified Anton Oilfield Services as potentially providing oil and gas oilfield equipment to Iran and began the review process.

--

In 2017, the U.S. state of Alaska, Florida, Rhode Island, South Carolina and Tennessee listed Anton on their state lists of Companies Doing Business with the Iranian Petroleum/Natural Gas, Nuclear and Military Sectors, rendering Anton ineligible for investment and/or state contracting.

As of February 18, 2022, the company is listed on Iowa's Public Employee's Retirement System (IPERS) Iran Prohibited Companies List.

--

As of January 31, 2022, Iowa's Municipal Fire and Police Retirment System lists Aban Offshore Limited on its Iran Scrutinized Companies List.

--

As of May 17, 2021, Iowa's Public Employee's Retirement System lists Aban Offshore Ltd on its Iran Scrutinized Companies List.

--

As of December 2020, Rhode Island continues to list Aban Offshore Ltd as an Iran scrutinized company for active involvement of at least $20-50 million in Iran's energy sector.

--

As of June 2020, Aban Offshore Limited is listed on Iowa's Iran Divestment Report.

--

As of August 15, 2019, Iowa's Municipal Fire & Police Retirement System lists Aban Offshore Ltd on its Iran Scrutinized Companies List.

--

As of July 31, 2019, Iowa's Municipal Fire & Police Retirement System list Aban Offshore Ltd on its Iran Scrutinized Companies List.

--

As of May 15, 2019, Iowa Public Employee's Retirement System lists Aban Offshore Ltd. on its Iran Prohibited Companies List.

--

"Chennai-based Aban Offshore has struck a deal to buy 100% of blocks 15/13a and 15/13b for £57 million. Iran’s national oil company is the current owner of the two blocks, according to the Oil and Gas Authority (OGA). Aban’s stakes will be held by Caldera Petroleum, a London-registered company which was incorporated just last week. Caldera is a wholly-owned subsidiary of Aban Singapore, whose parent company is Aban Offshore. Reji Abraham, who was on the 2009 Forbes list of the world’s wealthiest people, is Aban Offshore’s managing director. The firm’s deal with Iranian Oil Company (UK) is subject to OGA consent, but Aban has already found a buyer for 50% of the two assets." (Energy Voice, "Indian's Aban offshore in quick-fire sale of North Sea blocks," 10/10/2018).

--

As of September 25, 2018, Iowa's report to the Treasurer of State lists Aban Offshore Limited on its list of Iran Scrutinized Companies. 

--

As of June 30, 2018, Iowa State Board of Regents lists Aban Offshore Limited on its list of Iran Scrutinized Companies. 

--

As of February 1, 2018, Ohio lists Aban Offshore Limited on its Iran Scrutinized Companies list. 

--

"Aban Offshore Senior Vice-President S Srinivasan said that the company had around $288 million in receivables from Iran as on March 2016, which subsequently came down to $252 million to March 2017.

"We have reduced the receivables (from Iran) by around $36 million plus and we have also collected whatever has been billed," said Srinivasan, adding, "The re-election of the President is definitely positive, so I think the reformist agenda will continue."" (Business Standard, "Aban Offshore's receivables from Iran dip $46 mn after lifting of sanctions," 6/5/2017).

--

On March 6, 2017, Colorado removed Aban Offshore Limited from PERA's Iran List. 

--

In 2017, Rhode Island listed Aban Offshore Ltd as an Iran scrutinized company. 

--

As of December 20, 2017, South Carolina lists Aban Offshore Ltd as an Iran scrutinized company. 

--

As of July 7, 2017, Tennessee lists Aban Offshore Ltd as an Iran scrutinized company. 

--

As of June 30, 2017, State of Iowa lists Aban Offshore Ltd as an Iran scrutinized company. 

--

As of March 1, 2017, New Jersey identified Aban Offshore Litd., as having equity ties to the government of Iran or its instrumentalities and are engaged in business operations with entities in the defense sector or nuclear sector of Iran, and are therefore ineligible for investment by pension or annuity funds. 

--

On January 16, 2017, OFAC announced Aban has agreed to pay $17,500 for violating US sanctions on Iran in 2008 when its Singapore subsidiary ordered oil rig supplies from the US with the intention of re-exporting them from the UAE to a rig in Iranian territorial waters.

--

According to Rigzone.com, Aban Offshore Limited is currently operating four drillships in in Iranian waters.

--

In 2016 and 2017 Tennessee used the South Carolina list of "Entities Ineligible to Contract with the State of South Carolina or any Political Subdivision of the State per the Iran Divestment Act of 2014, S.C. Code Ann." as its list of persons it determines engage in investment activities in Iran. Aban Offshore was included on this list in 2016. "Inclusion on this list would make a person ineligible to contract with the state of Tennessee, if a person ceases its engagement in investment activities in Iran, it may be removed from the list."

--

"Aban Offshore Ltd. (ABAN), Asia’s third-most-indebted oil rig provider, will be able to obtain cheaper U.S. and European financing following the easing of some sanctions on Iran, the Indian company’s biggest market. The company will be able to cut its cost of debt by as much as 2.5 percentage points as the easing of sanctions allows Aban to borrow from European and U.S. banks, a route previously closed, according three analysts surveyed by Bloomberg News. The driller had debt equivalent to 129.9 billion rupees ($2.1 billion) as of Sept. 30, according to data compiled by Bloomberg, eight times as much its market value…'Aban now has the door open to access liberal interest rates and take cheaper debt for refinancing,' Kenin Jain, head of equity sales at Emkay Global Financial Services Ltd., said by phone from Mumbai on Nov. 27. 'This is a huge respite. It will boost earnings and improve cash flows. The stock is already reacting to this.' Emkay has an 'accumulate' rating on the stock…Aban, based in the south Indian city of Chennai, has $398 million of debt due for repayment through 2015, according to data compiled by Bloomberg. Its weighted average cost of debt is 7.1 percent and that for debt and equity is 7.9 percent, according to data compiled by Bloomberg.

Its short-term debt is rated A4, the second-lowest grade, by Mumbai-based Credit Analysis & Research Ltd. Standard & Poor’s and Moody’s Investors Service doesn’t rate the company. Aban has surged 26 percent this week, making it the second-best performer in the S&P BSE 500 Index. The shares rose as much as 4.1 percent to 385.45 rupees and traded at 379 rupees as of 11:32 a.m. in Mumbai. This year, Aban has gained 0.2 percent, compared with a 7 percent gain in the S&P BSE Sensex. Eight of Aban’s 18 rigs and drillships are operating in the Gulf, including four in Iranian waters, according to Rigzone.com, which collects data on rig locations. Five rigs are in South Asia, two each in Mexico and Southeast Asia and one in Brazil, according to the company’s website. Aban probably would have struggled to renew contracts for some of the rigs operating off of Iran next year without the easing of sanctions, Jain said. The renewals will help the driller maintain cash flows and revenue, he said. At least three rigs are in the Middle East region, Aban says on its website, without specifying where. It also doesn’t give locations for eight of the rigs. C.P. Gopalkrishnan, deputy managing director of Aban, declined to comment on the company’s debt, rigs and the impact of the U.S.-Iran deal at his office on Nov. 26. 'The risk factor for Iran has reduced significantly with the Iran-U.S. deal as revenue over the next couple of years is now ensured,' said Mayur Matani, a Mumbai-based analyst with ICICIdirect.com, who has a 'hold' rating on the stock. 'The company’s valuation would rise and there are possibly more gains for the stock in the near term.'" (Bloomberg, "Iran Nuclear Deal Offers Aban Help to Cut Costs: Corporate India," 11/29/13)

In November 2017, Iran discussed bilateral cooperation in the field of air industries with Antonov company CEO. Iran and Antonov company have been cooperating in the production and operation of aircrafts for two decades.

--

"The Persian Gulf country will buy two Ukrainian-made Antonov-158s, after a test flight of the aircraft earlier this month, Mohammad-Ali Sirati, managing director of the Iranian aircraft company, was cited as saying by the official Islamic Republic News Agency. The countries then will start to jointly build the aircraft next year, Sirati, whose company will be in charge of the project, said in Tehran yesterday. Some 30 percent of each plane will be made in Iran, state-run media reported." (Business Week, "Iran Says Antonov-158 Built With Ukraine May Fly in 2013," 10/6/2011)

--

Antonov lists on its website that their AN-24 turboprop aircraft is serially produced at HESA plant in Isfahan, Iran. (Antonov website)

Lists Precision Drilling (Dorood) Kish PJSC and Saddr Oilfield Services Kish on its 2017 SEC filings as a Weatherford International Ltd subsidiary and/or affiliate.

--

"The United States on Tuesday announced one of the biggest settlements ever made for corporate misbehavior overseas, chronicling a litany of charges against a leading energy services provider. The charges included bribery and kickbacks in the Middle East and Africa and systematic defiance of economic sanctions on Iran and three other countries…The Securities and Exchange Commission said the company that settled, Weatherford International Ltd., a Swiss provider of oil and gas services that operates in more than 100 countries, had agreed to pay more than $250 million to resolve charges that it violated the Foreign Corrupt Practices Act and other laws from 2002 to 2011. The settlement included $91 million in fines and penalties related to illicit dealings with Cuba, Iran, Sudan and Syria that violated a range of American sanctions on those countries from 2003 to 2007. The Treasury Department, in its own announcement, said the settlement was the largest for sanctions violations outside the banking industry. A number of federal agencies, including the S.E.C., the Treasury, and the Justice and Commerce Departments, collaborated on the investigation into Weatherford’s behavior, described in the Treasury announcement as 'egregious actions which compromised U.S. sanctions.' Weatherford, which had acknowledged that it was under investigation and that it was cooperating, said in a statement from its global headquarters in Geneva that it had set aside the money for the settlement and wanted to move on. 'This matter is now behind us,' Bernard J. Duroc-Danner, the company’s chairman, president and chief executive, said in the statement. 'With the internal policies and controls currently in place, we maintain a best-in-class compliance program and uphold the highest of ethical standards as we provide the industry’s leading products and services to our customers worldwide.' In papers filed in federal court in Houston, where Weatherford has significant operations, the S.E.C. said the company had authorized 'bribes and improper travel and entertainment for foreign officials in the Middle East and Africa to win business.' It said the misconduct also included kickbacks paid in Iraq to obtain contracts under the famously corrupt and now defunct United Nations oil-for-food program, which was established in the mid-1990s and ended in 2003 after the American-led invasion of Iraq. Weatherford’s bribery transgressions, according to the complaint, included the creation of a Middle East 'slush fund' to pay foreign officials; payments to Algerian officials for a World Cup tournament trip, a daughter’s honeymoon and a religious pilgrimage; and misappropriation of funds by managers in Italy for items like golf equipment and perfume. Weatherford employees also created false accounting and inventory records from 2002 to 2007 to hide 'illegal commercial sales to Cuba, Syria, Sudan and Iran,' the complaint said. Both the sales and the efforts to conceal them, it said, violated a range of export control laws and regulations concerning those countries. Treasury officials said the timing of the announcement was unrelated to the nuclear agreement, which was announced on Sunday in Geneva and gives Iran relief, for the first time in 10 years, from some of the sanctions imposed against it…'The real question is whether the Treasury Department will be permitted politically to enforce current sanctions for current illicit activity,' said Mark Wallace, the chief executive of United Against Nuclear Iran, a New York-based group that has pushed for stronger sanctions on Iran." (New York Times, "Firm Charged With Defying Sanctions Settles With U.S.," 11/27/13)

--

"In July 2007, this Houston-based oil-drilling and oil field services company announced in a filing with the Securities and Exchange Commission that it had been notified that the Bureau of Industry and Security and Department of Justice were investigating allegations of improper sales of products and services in sanctioned countries. Weatherford subsequently announced plans to get out of Iran, as well as Sudan, Syria and Cuba. This license authorized the company to enter into dealings to make good on that promise. A similar license was issued enabling the company to withdraw from Sudan." (New York Times, "Licenses Granted to U.S. Companies Run the Gamut," 12/24/10)

• "So why, according to sensitive trading records seen by the Guardian, did other European oil giants, including Shell, Total and API, increase their purchases? The answers illustrate the tendency of the increasingly complex measures being taken against Iran to throw up unintended consequences, and the apparent willingness of some oil firms to place profits ahead of the west's political strategy... Shell, Total and API all stressed they bought the oil at the market price and that no additional discount was received." (The Guardian, "Oil firms reap benefits of Iran's build-up of crude oil stocks," 9/27/2010) 

"Shanghai Sunry Petroleum Equipoment Company designs and sells oil and gas well service equipment. In 2005, the company exported equpiment to Iran, including swivel joints and valves. In 2009, the company was reportedly an exhibitor at Iran's international oil and gas show." (Mark Dubowitz and Laura Grossman, "Iran's Chinese Energy Partners," September 2010, p. 28)