‘Transformation’ process to continue in coming months

Shareholders of Dana Energy initiated a “transformation” program a few months before major world powers, known as the JCPOA, (P5+1) reached a historic nuclear deal, known as the Joint Comprehensive Plan of Action, with Iran. The effort was aimed at reshaping the company so that it could become qualified partner with International oil companies (IOCs), which were supposed to return to the Iranian market once the nuclear-related sanctions were lifted.

“After an in-depth research, we came up at the time with a simple methodology for change (Rename, redefine, reorganize, restructure, revive). We began with renaming our brand in a bid to show that there’ll be a change on the way,” Chief Administrative Officer Peyman Dayyani said.

Dana Energy, initially founded in 2000, is one of the eight Iranian oil and gas companies qualified by the Petroleum Ministry to partner with IOCs in the post-sanctions era. Iran has already identified about 50 upstream projects for foreign investment, but global companies have to cooperate with Iranian partners in venture setting if they want to invest on the profitable projects.

In line with the transformation program, the holding company managed in November 2015 to bring its 11 different companies under an umbrella of a corporation. All of the subsidiaries used to act independently and had their own managing director and board of directors, according to Dayyani.

“Renaming, redefining, reorganizing, restructuring and reviving the company were the five steps we have taken,” Dayyani said. “Though we already partially implemented three phases of the transformation process, we still have a long way to go to improve the efficiency of our efforts,” he added.

He further said that the transformation program has so far helped the company reduce the cost of its managing HR transactions by 29%. “This is a big achievement we have made. It shows that the urgency for change was real.”

Among other initiatives Dana Energy has had a focus on during the past year was the improvement of its communications strategy using social media, including LinkedIn. “We’ve seen a rapid growth when it comes to our followers in LinkedIn since we have ramp-down all business units pages under one single page,” Dayyani said.

The company’s LinkedIn page ranks first, in terms of the number of followers, among the Iranian energy companies which have a LinkedIn account.

Dayyani noted that the company is also planning to make an investment of up to $1 million in a coming year from now on restructuring and enterprise processes architecting tools and expertise. He believes that the implementation of the latter phase could add more value to the company and improve its competitiveness and cost efficiency in a significant way.

Interview:
Peyman Dayyani
Chief Administration Officer