Addressing an upstream forum at the 3rd
Iranian Petroleum and Energy Club Congress and Exhibition in Tehran on
Wednesday, Behzad Mohammadi said the field is one of the most difficult ones to
develop in the Middle East given the complexity of its geological structure.
Production of crude oil began last February
at 15,000 b/d and has reached 35,000 b/d, he said.
The field is estimated to hold over 2.5
billion barrels of in-place crude oil which based on the latest studies may
reach 4 billion barrels.
Azar Oilfield's production will reach
65,000 b/d in its first phase development and 100,000 b/d in the second production
phase, OIEC chief further said.
The second phase development of the field
will be carried out under the newly-devise model of oil contracts, he added.
Iran share the field with neighboring Iraq.