Petro Omid Asia Co. was first established and registered on January 24, 2010 as a private joint stock company under the name of Goharan Omid Miners Co. with a capital of 500,000,000 IRR. On the strength of the minutes of extra-ordinary meeting of the company dd. January 16, 2011, the company’s name changed to ‘Petro Omid Asia’ and its capital increased to 500,000,000,000 IRR on February 7, 2012 and the capital further increased to 1,000,000,000,000 IRR on July 8, 2012 on the strength of the minutes of extra-ordinary meeting of the company dd. December 18, 2011. Pursuant to the 38th minutes of the BOD dd. September 4, 2013, the company’s capital increased to 2,000,000,000,000 IRR form 1,000,000,000,000 IRR.