Zangeneh said the field will start producing 30,000 to 35,000 b/d of oil, adding that development of this field will raise the country’s crude oil production by 65,000 b/d.
“This [development] project is under way under a $1-billion buy-back deal by Iranian companies,” the minister said.
Zangeneh said five drilling rigs are operating in this field and that the oil recovered from this field will be used for feeding petrochemical plants in the city of Dehloran.
Azar, shared by Iran and Iraq, is estimated to hold 2.5 billion barrels of oil in place.
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