As per the announcement made by the Public Relations of the Association of Exploration and Production Companies, Sarvak Azar Engineering and Development Company has been identified and introduced as a qualified entity for Exploration and Production (E&P) activities by the Iranian Ministry of Petroleum. This achievement follows a rigorous evaluation process of applicant companies for E&P activities, which was initiated through a call for information dissemination on August 13, 2022.
The evaluation committee of the Engineering, Research, and Technology Department of the Ministry of Petroleum has recognized Sarvak Azar Engineering and Development Company as a qualified E&P company, based on its successful achievement of the required threshold in various indicators. The company has been ranked among 19 Iranian E&P companies, owing to its extensive experience in the joint Azar oil field and its capabilities as a competent and reliable developer in the oil industry.
It is worth noting that in the international literature of the oil and gas industry, the title of Exploration & Production is reserved for companies that perform exploration, development, and production of crude oil and gas in an integrated manner. These companies are recognized as developers and do not hold the title of contractors. Therefore, E&P companies must possess the necessary technical capabilities, human resources capacity, top-notch project management, risk management, financial capacity, and compliance with the high standards of the Ministry of Petroleum to qualify for this category.