Natural fractures play a crucial role in carbonate oil reservoir characteristics worldwide. Fractures have also been widely developed in the late Oligocene-early Miocene Asmari Formation as one of the famous carbonate reservoirs in SW Iran with more than a century of hydrocarbon production history. The main objective of this study is to determine the role of fractures on porosity and permeability distribution within the Asmari reservoir at the Aghajari oilfield. Petrophysical characteristics including lithology, porosity, permeability, and their relations with fracture system distributions could be determined by petrophysical analysis and fracture analysis, which is the goal of this study. Neutrons (NHPH), density (RHOB), sonic (DT), and image logs, as the main conventional logs, are used for petrophysical analysis in this study. Also, mud loss and production logging test (PLT) data are used to confirm obtained results. The results of this study reveal that the distributions of porosity and permeability are commonly affected by the NW-SE striking fractures within the Asmari reservoir. Therefore, the areas/zones of the reservoir where these fractures are most frequent should be considered in future production plans. These zones/areas include Zone 3 in the central, NW and SW parts of the Aghajari oilfield.