IRANIAN OIL COMPANY (U.K.) LIMITED modern slavery statement summary (2025)

Organisation address
Nioc House 6th Floor,
4 Victoria Street,
London,
SW1H 0NE

We asked the organisation a series of questions about its modern slavery statement. Its answers are published on this page as a statement summary.

This statement provides information for 5 of 6 recommended areas

What is a modern slavery statement?
UK law requires certain organisations to publish an annual modern slavery statement on their website, setting out the steps they are taking to address modern slavery risks in their operations and supply chains. Read more in the government guidance on publishing modern slavery statements.
Link to full statement
Go to full modern slavery statement on organisation’s website

PDF version of the statement

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About this statement summary

All answers relate to the financial year covered by the statement. The organisation is responsible for all the information it provided. Some of our questions are optional, so organisations may not have answered all of them. The statement summary does not replace the full modern slavery statement – below we provide a link to the full statement on the organisation’s website.

Contents

Statement period and sign-off details

The statement covers the following period:
1 January 2024 to 31 December 2024

The statement was signed off by:
JAFAR DAMANPAK (DIRECTOR)

It was approved by the board (or equivalent management body) on:
28 February 2025

Recommended areas covered by the statement

Government guidance encourages organisations to cover a range of areas in their modern slavery statements, setting out the steps they’re taking to address modern slavery risks in their operations and supply chains. Read about the recommended areas in the statutory guidance.

We asked the organisation to tell us which areas its statement covers.

Areas recommended by government guidance Organisation’s response
The organisation’s structure, business and supply chains Covered
Policies Covered
Risk assessment Covered
Due diligence (steps to address risk) Covered
Training about modern slavery Covered
Goals and key performance indicators (KPIs) to measure the effectiveness of the organisation's actions and progress over time Not covered
IOC is committed to respecting internationally recognised human rights and labour standards.

The organisation’s sectors and turnover

Sectors

The organisation operates in the following sectors:

  • Mining, metals, chemicals and resources (including oil and gas)

Turnover

Its turnover in the financial accounting year of this statement was:

£100 million to £500 million

If the organisation is a public body, this amount is based on the organisation’s budget for the year of the statement.
What does 'turnover' refer to in group statements?
If this is a group statement, this includes the total turnover for all the organisations covered by the statement.

Number of years producing statements

The organisation has been producing modern slavery statements for the following number of years:
1 to 5 years
How does this work for group statements?
If the statement is for a group of organisations, this answer applies to the organisation with the longest history of producing statements.

Policies (optional)

We asked the organisation whether its policies include the following provisions in relation to its domestic and international supply chains, as well as its own operations.
Policy provisions we asked about Organisation’s response
Freedom of workers to terminate employment Included
Freedom of movement Included
Freedom of association Included
Prohibits any threat of violence, harassment and intimidation Included
Prohibits the use of worker-paid recruitment fees Not included
Prohibits compulsory overtime Included
Prohibits child labour Not included
Prohibits discrimination Included
Prohibits confiscation of workers' original identification documents Not included
Provides access to remedy, compensation and justice for victims of modern slavery Not included
Other
Not included

Training (optional)

We asked the organisation whether it provided training on modern slavery, and who it was for.
What counts as training?
We explained that by ‘training’ we meant anything designed to increase knowledge and skills around identifying, addressing or preventing modern slavery risks. This could range from formal training courses to broader awareness-raising activities such as workshops or webinars.
Organisation’s response
The organisation told us it did not did not provide training on modern slavery during the period of the statement.

Monitoring working conditions (optional)

Engaging with others

We asked the organisation to tell us who it engaged with to help monitor working conditions across its operations and supply chains.
Organisation’s response
The organisation told us it did not engage with any of the people we asked about during the period of the statement.

Social audits

We asked the organisation to tell us about any social audits it used to look for signs of modern slavery.
What are social audits?
A social audit is a review of an organisation’s working practices from the point of view of social responsibility, and should include an evaluation of working conditions in the organisation’s operations and supply chains. By their nature, audits of supplier workplaces represent a snapshot in time.
Organisation’s response
The organisation told us it did not carry out any social audits during the period of the statement.

Grievance mechanisms

We asked the organisation how workers in its operations or supply chains could raise concerns or make complaints.
Organisation’s response
The organisation told us there were no processes in its operations or supply chains for workers to raise concerns or make complaints.

Other ways of monitoring working conditions

We asked the organisation whether it had any other ways of monitoring working conditions across its operations and supply chains:
Serica as operator of the Rhum Field is responsible for the placing of the supply chain to support the operations required to support the field.

Modern slavery risks (optional)

Warning Identifying modern slavery risks is a vital step towards eradicating it. The government encourages organisations to be as open and transparent as possible, to improve understanding, collaboration and best practice around tackling this worldwide problem.
We asked the organisation to describe up to 3 priority risks it focused on during the period of the statement, including details of the affected workers, the activity involved, and the location.

Priority risks for this organisation (1 of 3)

Serica relies on international suppliers and local suppliers to deliver the products, equipment and services it requires for its current operations. IOC has made Serica aware of its commitment.
Questions we asked about this risk Organisation’s response
Where it was most likely to occur Organisation’s response: Organisation selected ‘Other’ and wrote:
Operator's operation
Who was it most likely to affect Organisation’s response: No details provided
In which country Organisation’s response: No details provided
Actions or plans to address this risk Organisation’s response: It is operator of the field responsibility to deal with any risk involved in his operation.

Priority risks for this organisation (2 of 3)

IOC relies on local UK suppliers for any other support required to manage the company, its relationship with Serica and otherwise its interests in the Rhum Field.
Questions we asked about this risk Organisation’s response
Where it was most likely to occur Organisation’s response: Within your own operations.
Who was it most likely to affect Organisation’s response: No details provided
In which country Organisation’s response: No details provided
Actions or plans to address this risk Organisation’s response: IOC’s underlying philosophy is that the Board and employees will abide by all the laws of the jurisdictions in which IOC has interests in

Priority risks for this organisation (3 of 3)

IOC’s directors and employees are expected and required to maintain high ethical standards, legal compliance, responsible corporate behaviour and accountability.
Questions we asked about this risk Organisation’s response
Where it was most likely to occur Organisation’s response: Within your own operations.
Who was it most likely to affect Organisation’s response: No details provided
In which country Organisation’s response: No details provided
Actions or plans to address this risk Organisation’s response: IOC is committed to ensuring that our directors and our employees are aware of the requirements of the Modern Slavery Act and our policy in relation to the same.

Indicators of forced labour (optional)

We asked the organisation whether its statement refers to finding any International Labour Organization (ILO) indicators of forced labour.
What are ILO indicators of forced labour?
The International Labour Organization (ILO) has produced a list of the most common signs of forced labour. They’re based on the definition of forced labour as ‘all work or service which is extracted from any person under the menace of any penalty and for which the said person has not offered himself voluntarily.’ More details and guidance are available on the ILO website, and in their publication ILO indicators of forced labour
Organisation’s response
The organisation told us its statement does not refer to finding any International Labour Organization (ILO) indicators of forced labour.

Demonstrating progress (optional)

We asked the organisation how its statement demonstrates progress over time in addressing modern slavery risks. They provided the following answer:
IOC will work to continually assess the extent of the risk of instances of modern slavery and human trafficking in our business and to take reasonable steps to ensure that these have no place in our organisation and supply chain.