San Leon Energy and Al Meinaa Oil Services, its joint venture partner in Iraq, have signed a joint participation agreement with the Governorate Council of Karbala in Central Iraq.
Under the agreement, the consortium consisting of San Leon, Al Meinaa and the Governorate Council of Karbala will submit a joint proposal to Iraq’s Ministry of Oil for the development of the Kifil, West Kifil and Merjan fields.
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San Leon and its partners will enter into formal negotiations with the Ministry regarding the project area.
San Leon Energy chairman Oisin Fanning said development of the Karbala fields, which has estimated reserves of 600 million barrels of oil, will contribute to the local economy.
