Cambodian Expects to Extract Oil in 2012

[AKP]

Deputy Prime Minister and Minister in Charge of Office Minister H.E. Sok An said Cambodian expects to extract oil in 2012.

Speaking at the signing ceremony on framework agreement for feasibility study to build oil refinery factory between Cambodian’s National Petroleum Authority and Cambodian Petrochemical Co. Ltd yesterday, H.E. Sok An said Cambodian spend US$150 million for oil exploration and then US$ 600 million will be spend for extracting and refining crude oil in 2012.

Mr. Hean Khean, Representative of Cambodian Petrochemical Co. Ltd said his company is finding 80 ha land lot in Kampot, province to built a refinery factory.

H.E. Sok An said after the feasibility study, the company would build refinery factory that can produce around 5 million tons of oil.

“The oil production will response to the local demand, Cambodia imported around one million ton of petroleum for local consumption, and this factory will also provide more job to Cambodian people”, he said.