In collaboration with other departments of the company, the Financial Department is engaged in policy-making and setting financial policies of the company for designing and engineering of large projects and preservation of South Pars, North Pars, Golshan and Ferdowsi Gas Fields. The department is also responsible for implementing the general policies and plans, approved by the general meeting and board of directors, in line with achieving the company’s future goals and objectives.
The activities in this department require a specialized and extensive organization in all levels and areas as well as dedicated and specialized staff.
The most important duties and objectives of the financial department are as follows:
Standardization of financial processes by using modern financial systems,
Preservation and increasing the financial power of the company through implementing cash flow management and development of financial resources, attracting investment, issuing bonds, utilizing the capacity of the financers along with the internal resources of National Iranian Oil Company (NIOC),
Managing the company’s resources in order to preserve the investments made in line with achieving the goals of South Pars Common Field Development Plan,
Applying and using advanced management techniques in order to plan, organize, direct, coordinate, control and evaluate the effective factors and elements in all financial activities in Tehran and operational sites,
Setting policies, planning and training the manpower in order to establish an appropriate ground for implementation of information systems and financial procedures, and presenting reports and responding the organizations and entities within the measures, requirements and directives,
Generally speaking, the main goal of the financial department is to present necessary information along with proper analysis of separate financial statements for in-house and out-house decision makings. Certainly proper and timely decision making with respect to resources and capital consumptions, is a key to success for any organization and company.
The units of the financial department, that have a dynamic cooperation with other organizations in order to promote the company’s objectives include: Funding and Allocation Unit, Investment, Financial Investigations, Project’s Finance, Checking Accounting Entries, Financial Procedures and Regulations, Banking and Insurance Affairs, Reconciliation of Financial Documents, Treasury, Budget and Cost Control, Salary Accounting, Financial Accounting, Contract and Order Accounting, Cost Accounting in Tehran and Operational Sites of the Company.