As per the deal with the Governorate Council of Karbala province, the consortium -San Leon, Al-Meinaa and the Governorate Council of Karbala will submit a joint proposal to Baghdad’s oil ministry to develop the Kifil, West Kifil and Merjan fields under a production sharing contract.
These fields, which are estimated to hold reserves of 600 million barrels of oil, are located in the Karbala province (Kifil is shared between Karbala and Najaf).
San Leon and its partners will shortly enter into formal negotiations with the government about the project area.
San Leon Energy chairman Oisin Fanning said that the company expects that the development of the Karbala fields will significantly contribute to the local economy.
