In 1993, SAFF started as an offshore EPCC contractor in Oil, Gas and Petrochemical industries. SAFF's initial services were project management, engineering, procurement, construction, transportation, installation, hook up, commissioning and start-up activities. The company's initial mission was to serve the growing oil and gas industry of in the region and its original objectives were to facilitate knowledge management and technology transfer in the oil and gas fields and to localize the relevant expertise, knowledge and skill sets. SAFF's scope of services have now been expanded to include EPCC services for offshore and onshore projects, Hook Up, Commissioning, Operation and Maintenance, Ship Building, Knowledge Based Projects and Investment.
SAFF owns an offshore yard in Bandar Abbas Special Economic Zone, which is the biggest fabrication yard in Iran. This yard can be customized to be utilized for special project but it is mainly used for the construction of heavy offshore structures. Bandar Abbas yard is equipped with the most advanced equipment and facilities and it is capable of fabricating 45,000 tons of steel structures per year. SAFF also owns a fleet of crane barges and tugs that can be used for transportation and installation of offshore structures.
As per 2015's annual financial report, SAFF has 230 individual shareholders and 5 investor companies. The investor companies each of which holds a share from 0.06% to 23.55% are:
- Darya Fan Qeshm Industries Co. (SADAF)
- Rosemond Engineering, Management and Investment Co.
- Ayandehsaz Social Welfare Fund
- Qeshm Offshore Free Ports and Industries (SABA)
- Energy Insurance Services Co.