Iranian Journal of Trade Studies

Iranian Journal of Trade Studies

Designing a Process Model for Business Development in EPC Companies of Iran's Oil and Gas Downstream Industries

Document Type : Research Paper

Authors
1 Ph.D candidate of business management, Faculty of Management and Economics, Tarbiat Modares University, Tehran, Iran
2 Prof, Business Management Department, Faculty of Management and Economics, Tarbiat Modares University, Tehran, Iran
3 4. Associate Prof. Business Management Department, Faculty of Management and Economics, Tarbiat Modares University, Tehran, Iran
Abstract
Business development in Engineering, Procurement, and Construction (EPC) project-based firms operating in the oil and gas industry is essential for achieving long-term competitive advantage. It requires a strategic transition from a project execution-oriented approach toward the development of firm-level capabilities. Addressing the theoretical gap in explaining the mechanisms underlying this transformation in turbulent emerging markets, this study develops a comprehensive process model for business development in Iran's downstream oil and gas industries.
Adopting an interpretive research paradigm, data were collected through in-depth semi-structured interviews with 17 experts from industry and academia. The data were analyzed using latent-level reflexive thematic analysis until theoretical saturation was achieved.
The findings reveal a comprehensive process model consisting of three interrelated components: antecedents, the Engineering, Procurement, and Construction (EPC) execution core, and business development outcomes. Contextual conditions, particularly international sanctions and institutional barriers, shape the environment in which the model operates. The results further indicate that institutional resilience functions as a critical mediating mechanism linking dynamic capabilities to business development outcomes in sanction-constrained economies. Moreover, sustainability emerges as a source of organizational legitimacy that enables firms to overcome institutional voids. The proposed model demonstrates that overcoming the project-centric trap requires leveraging dynamic capabilities to drive business model innovation, while institutional resilience constitutes a prerequisite for successful integration into global value chains.
Keywords
Subjects

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  • Receive Date 29 December 2025
  • Revise Date 15 May 2026
  • Accept Date 16 June 2026