Iran’s production of crude oil at Azar Oilfield, shared with neighboring Iraq, has exceeded 4 million barrels, operator of the field says.
Behzad Mohammadi, managing director of Oil Industries’ Engineering and Construction (OIEC), told a meeting of representatives of Iranian E&P companies in Tehran on Wednesday, said production of the fields has been fixed at 30,000 b/d.
He said based on the latest estimations, the field is believed to hold over 4 billion barrels of crude oil in its reserves, adding OIEC plans to bring the field’s output to 65,000 b/d in the first phase of the field’s development project and to 100,000 b/d in its second development phase.
The field is the most challenging for the oil industry due to the stony land conditions.
The volume of possible oil reserves to be extracted from Azar fields is estimate to be around 400 million barrels.
Azar oil field lie in common border with Iraq. The shared oil field is part of Anaran Block in southwest of Ilam Province.