KEPCO amid many other companies is a subdivision of National Iranian Oil Company (NIOC) founded in January 1998. KEPCO is an authority in exploration, development and production of oil and gas in Iran concerning South Caspian Sea and three littoral provinces of Mazandaran, Golestan and Gilan in Iran. KEPCO supervises all the contracts signed by local and international companies regarding exploration and development of hydrocarbon reserves in the area including the pertinent environmental matters. KEPCO stays committed to the development of Caspian Sea’s oil and gas reserves. 

KEPCO’s mission is exploration, development and production of South Caspian Basin and three adjacent provinces for oil and gas to uphold national interest and to safe guard the wealth of beneficiaries.