Azar oil field studies nearing completion

The operator of Azar oil field development plan said basic studies of the field are nearing completion. "We have finalized bulk of the packages related to underground operations, while in connection with surface issues, some of the packages have been finalized and others are ready for holding bidding," Keivan Yarahmadi said. He further added that the initial timeline stipulated in the contract for licensing and assessment of costs and expenses has come to an end, so the Joint Management Committee (JMC) which is in charge of decision-makings for change in the scope of the project, addressed the issue in its fourth meeting. Early production plan of Azar oil field is expected to come online in 36 months with a production capacity of 30 thousand barrels per day, while its final output is due to hit 65 thousand barrels per day in a 55-month period. Located in Anaran block, Azar oil field is one of a number of shared oil fields with Iraq.