Yar-Ahmadi said the project has thus far shown 78 percent physical progress.
He said more than 10 years pass from the project for development of Anaran block. “The project was offered to Norwegian North Hydro Co. on a buy-back contract and it undertook the project on behalf of the National Iranian Oil Company (NIOC). It drilled two wells in the field but the first well drilling was left half-finished due to technical problems. “
However, the Azar 2 well was successfully drilled up to the depth and bi-dimensional seismological results and test on the well led to preparation of a report that production of the field is economical. The result was eventually confirmed by the NIOC.
He said later on, talks were held with North Hydro Co. and all the points relating to the project were almost decided but the company was not ready to sign the contract due to sanctions.
He hoped that by the next two years, operations for development and eventual exploitation of the field will be complete.
He said early estimate of the in-situ oil reserves in Azar field is 5.2 billion barrels and early production out of the field will be sent to Dehloran and the final oil product will be sent to Cheshmeh Khosh.