Monday Mar 19, 2018

PetroEnergy Information Network

News Agency - Detail

Crude Oil Production of Azar Oilfield at 35,000 b/d

(Wednesday, October 11, 2017) 16:43

TEHRAN, Oct. 11 (Shana) -- Azar Oilfield has so far yielded 4.6 million barrels of oil and its daily production has reached 35,000 b, the managing director of Oil Industries' Engineering and Construction (OIEC) says.

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.