The Abadan-based club had been linked with German coach Winfried Schäfer and Iranian trainer Faraz Kamalvand but finally hired 50-year-old coach Bakhtiarizadeh.
Bakhtiarizadeh has most recently worked as head coach of Iranian first tier Khooshe Talaei.
He has previously worked as head coach of Esteghlal Khuzestan and Shahr Khodro.
The Iranian club was without a coach after Abdollah Veisi stepped down from his role in mid-December.
Sanat Naft sits 14th in the 2023-24 Iran Professional League (IPL) table, one point above the relegation zone.