Petropars Oilfield Services Company (POSCO) was established on July 18, 2004 as Private Joint Stock Company and was registered in the "Companies and Industrial Ownership Registration Organization" in Kish Free-zone Island under number 1657. The Company's operational base is located in east side of Kish Island Port jetty including: 218 Sqm building, 53,000 Sqm yard, 2400 Sqm covered warehouses which belongs to its shareholder, Petropars Iran (PPI) who is affiliated to Petropars Ltd. (PPL) the major developer of oil and gas fields in Iran, mostly South Pars giant gas field, and in other foreign countries such as Venezuela.