Cambodia in talks with Indonesia for return of tanker, crude, crew
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Cambodia in talks with Indonesia for return of tanker, crude, crew
phnompenhpost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from phnompenhpost.com Daily Mail and Mail on Sunday newspapers.
By Reuters Staff
2 Min Read
PHNOM PENH (Reuters) - Cambodia has begun extracting its first crude oil from fields in the Gulf of Thailand, in a venture between Singapore’s KrisEnergy Ltd and the government, both parties said on Tuesday, bringing an end to years of delays.
FILE PHOTO: Cambodia s Prime Minister Hun Sen attends a celebrations marking the 66th anniversary of the country s independence from France, in central Phnom Penh, Cambodia, November 9, 2019. REUTERS/Samrang Pring/File Photo
Prime Minister Hun Sen announced the news on social media while KrisEnergy said the concession started production on Monday and would progress in phases once new wells were commissioned and completed.
Cambodia Prepares To Produce Its First Oil By Felicity Bradstock - Jan 02, 2021, 10:00 AM CST
As Asian oil demand looks set to increase over the next decade, Cambodia is taking advantage of the opportunity with its first crude oil production. Cambodia’s plan is to extract oil from the Gulf of Thailand oil fields in a joint project with Singapore s KrisEnergy Ltd, a plan that has seen several years of delays.
The development was announced by Prime Minister Hun Sen on social media, The year 2021 is coming and we have received a huge gift for our nation the first oil production in our territory . Going on to say, “Key benefits include national budget revenue, economic benefits from the diversification of the oil industry and national capacity building in this sector”. This came after production started in the region on Monday.