Azar is a producing conventional oil field located onshore Iran and is operated by Petroleum Engineering and Development. The field is located in block Anaran.
Field participation details
The field is owned by National Iranian Oil.
Production from Azar
The Azar conventional oil field recovered 16.10% of its total recoverable reserves, with peak production in 2021. The peak production was approximately 65 thousand bpd of crude oil and condensate and 62 Mmcfd of natural gas. Based on economic assumptions, production will continue until the field reaches its economic limit in 2069. The field currently accounts for approximately 1% of the country’s daily output.
Remaining recoverable reserves
The field is expected to recover 489.66 Mmboe, comprised of 383.04 Mmbbl of crude oil & condensate and 639.76 bcf of natural gas reserves. Azar conventional oil field reserves accounts 0.11% of total remaining reserves of producing conventional oil fields globally.
About Petroleum Engineering and Development
Petroleum Engineering and Development Company (PEDEC), a subsidiary of National Iranian Oil Company (NIOC) develops oil fields through domestic resources. The company focuses on safe and risk-free implementation of projects, achievement of national inclusive needs, timely implementation of projects, maintaining quality, and ecological balance in the trend of implementation of projects through adopting proper methods, adopting proper approaches for implementation of projects in the framework of national standards during the engineering and construction of oil fields. The services of the company include exploration, extraction, and production of crude oil, natural gas, and other solid and liquid hydrocarbons to meet the demand of NIOC’s requirements. PEDEC is headquartered in Tehran, Iran.
Methodology
Information on the field is sourced from GlobalData’s fields database that provides detailed information on all producing, announced and planned oil and gas fields globally. Not all companies mentioned in the article may be currently existing due to their merger or acquisition or business closure.