[OilPrice.com]
U.S. and Japanese companies are interested in prospecting for oil and natural gas in Cambodia.
According to Phai Siphan, state secretary and spokesman of the Council of Ministers Office, in the provinces of Preah Vihear, Siemreab, and Kampong Thom there are 17 oil blocs covering a total area of over 2,300 square miles undergoing seismic study, where around 6,000 boreholes, each 0.2 inches in diameter, are drilled to a depth of 20 to 65 feet.
Phai noted that Japanese company JOGMEC (Japan Oil Gas, Metals Corporation) began prospecting for oil and natural gas in 1996, telling reporters, "On 4 May 2010, JOGMEC signed a basic memorandum with the Cambodian Petroleum National Authority on all 17 inland blocs of the Kingdom of Cambodia in the provinces of Kampong Thom, Siemreab, and Preah Vihear, to study and investigate oil data," adding, "According to a statement by Samdech Prime Minister Hun Sen, on 12 December 2012, if there are no obstacles, we can hope to get the first drop of oil at 12 noon on December 2012. We don't know what we'll be facing in the days ahead. But we already knew our flexibility and our competence with U.S. oil company Chevron would make our dream become reality."
Showing posts with label Oil and Gas. Show all posts
Showing posts with label Oil and Gas. Show all posts
February 8, 2012
February 1, 2012
Japan's firm launches onshore oil, gas exploration in Cambodia
[XINHUA]
PHNOM PENH, Jan. 31 -- Japan's state-affiliated Japanese Oil, Gas and Metals National Corporation (JOGMEC) on Tuesday started the seismic acquisition operation for oil and gas exploration in Cambodia's Preah Vihear province, said a government official.
Phay Siphan, spokesman for the Council of Ministers, said the JOGMEC would drill 6,000 holes, each has a 6-milimeter diameter and up to a depth of 20 meters for the four-month seismic survey in the province.
Preah Vihear province, situated some 500 kilometers northwest of Phnom Penh, is home to more than 200 ancient temples including Preah Vihear temple, one of the world heritage sites.
Ho Vichit, vice-chairman of Cambodian National Petroleum Authority, said the seismic acquisition operation is one of the first steps of oil and gas exploration study and the operation will not have any impact on the environment and natural cultural sites.
"The start of the seismic survey in block 17 reflects foreign trust on Cambodia's investment environment and it is a new success for Cambodia towards the development of oil and gas sector," he said in a speech during the launching of the seismic study in the province's Tbeng Meanchey district on Tuesday.
PHNOM PENH, Jan. 31 -- Japan's state-affiliated Japanese Oil, Gas and Metals National Corporation (JOGMEC) on Tuesday started the seismic acquisition operation for oil and gas exploration in Cambodia's Preah Vihear province, said a government official.
Phay Siphan, spokesman for the Council of Ministers, said the JOGMEC would drill 6,000 holes, each has a 6-milimeter diameter and up to a depth of 20 meters for the four-month seismic survey in the province.
Preah Vihear province, situated some 500 kilometers northwest of Phnom Penh, is home to more than 200 ancient temples including Preah Vihear temple, one of the world heritage sites.
Ho Vichit, vice-chairman of Cambodian National Petroleum Authority, said the seismic acquisition operation is one of the first steps of oil and gas exploration study and the operation will not have any impact on the environment and natural cultural sites.
"The start of the seismic survey in block 17 reflects foreign trust on Cambodia's investment environment and it is a new success for Cambodia towards the development of oil and gas sector," he said in a speech during the launching of the seismic study in the province's Tbeng Meanchey district on Tuesday.
Oil production delayed
Chevron Overseas Petroleum (Cambodia) Ltd, which is now exploring the Kingdom’s offshore Block A in the Gulf of Thailand, has notified the Cambodian government that no oil extraction would take place this year, the spokesman said.
“2012 is not possible,” Ek Tha, spokesman for the Council of Ministers, said yesterday by phone.
A representative from Chevron early this month met with the Cambodian National Petroleum Authority to deliver the news, he said, though the reasons for the decision were not discussed.
Ek Tha would not disclose the name of the Chevron representative, although Chevron Overseas Petroleum (Cambodia)’s current president is Steve Glick, who arrived in Phnom Penh last April.
While a new tentative schedule was raised at the meeting, neither party was ready to announce a new deadline for oil production in the Kingdom, Ek Tha said.
January 30, 2012
Kingdom considers oil imports from Iran
The announcement comes at a time when the United States and European Union have approved some of the toughest sanctions yet against the Islamic country.
Cambodian officials have maintained that the Kingdom will take foreign direct investment from all interested nations.
The US Embassy in Phnom Penh said yesterday that it expected all United Nations members to take into consideration US regulations when dealing with Iran.
Deputy Prime Minister Sok An and Iranian Ambassador Seyed Javad Ghavam Shahidi agreed on Thursday to strengthen economic ties between the two countries, Council of Ministers spokesman Ek Tha said yesterday.
January 26, 2012
South Korea eyes investment in Cambodia's oil, gas sector
[XINHUA]
PHNOM PENH, Jan. 26 -- South Korea is willing to invest in oil and gas industry in Cambodia, said a senior Korean official on Thursday.
"Korea is interested in investing in oil and gas and energy sector in Cambodia," Jae Hyun Shin, South Korea's visiting ambassador in charge of energy and mineral resources cooperation, said during a meeting with Cambodia's Prime Minister Hun Sen.
He also asked the premier to support the plan.
Meanwhile, Hun Sen welcomed the plan and advised the South Korea to work with Cambodian National Petroleum Authority (CNPA) for oil and gas cooperation.
Cambodia's offshore areas are believed to be rich in oil and gas deposits. To date, the country awarded exploring licenses to a number of companies to operate in six blocks, according to the CNPA report.
PHNOM PENH, Jan. 26 -- South Korea is willing to invest in oil and gas industry in Cambodia, said a senior Korean official on Thursday.
"Korea is interested in investing in oil and gas and energy sector in Cambodia," Jae Hyun Shin, South Korea's visiting ambassador in charge of energy and mineral resources cooperation, said during a meeting with Cambodia's Prime Minister Hun Sen.
He also asked the premier to support the plan.
Meanwhile, Hun Sen welcomed the plan and advised the South Korea to work with Cambodian National Petroleum Authority (CNPA) for oil and gas cooperation.
Cambodia's offshore areas are believed to be rich in oil and gas deposits. To date, the country awarded exploring licenses to a number of companies to operate in six blocks, according to the CNPA report.
January 10, 2012
PTT talks expansion plans
[PHNOM PENH POST]
Thailand's state-owned energy firm PTT Plc has said it will expand its oil retail operations in Cambodia, while also eyeing oil sales to power plants, factories and other commercial industry in the Kingdom.
PTT plans to open more than 20 new petrol stations in Cambodia during the next five years, with up to six stations starting business in 2012, Bin May Mailia, a manager for PTT in Cambodia, said yesterday.
“We want to have the complete business [chain] in Cambodia. Not just retail, not just [oil production],” Bin May Mailia said yesterday when reached by phone.
The company has 16 petrol stations at present. It also plans to boost direct oil sales to the country’s growing number of power plants and garment factories, he said.
Competition among oil retailers in Cambodia is growing rapidly, a manager at Kampuchea Tela Co Ltd told the Post yesterday.
Thailand's state-owned energy firm PTT Plc has said it will expand its oil retail operations in Cambodia, while also eyeing oil sales to power plants, factories and other commercial industry in the Kingdom.
PTT plans to open more than 20 new petrol stations in Cambodia during the next five years, with up to six stations starting business in 2012, Bin May Mailia, a manager for PTT in Cambodia, said yesterday.
“We want to have the complete business [chain] in Cambodia. Not just retail, not just [oil production],” Bin May Mailia said yesterday when reached by phone.
The company has 16 petrol stations at present. It also plans to boost direct oil sales to the country’s growing number of power plants and garment factories, he said.
Competition among oil retailers in Cambodia is growing rapidly, a manager at Kampuchea Tela Co Ltd told the Post yesterday.
December 29, 2011
Cambodia, Thailand agree in principle to resume oil deal talks
[PHNOM PENH POST]
PHNOM PENH, Dec. 29 -- Cambodia and Thailand on Thursday agreed in principle to resume negotiations on the plan for the joint development of Overlapping Claim Area (OCA) in the Gulf of Thailand, which is believed to be rich in oil and gas.
The verbal agreement was made during a meeting between the minister of the Council of Ministers Sok An, the Chairman of Cambodian National Petroleum Authority, and visiting Thai minister of energy Pichai Naripthaphan.
"In principle, we had shown our intention to resume the negotiations on the overlapping claim area," Pichai told reporters after the meeting. "We want it (the joint development of OCA) to happen for the interests of both countries in terms of energy security for another 40 to 50 years."
The OCA covers about 26,000 square kilometers in the Gulf of Thailand.
He added that if the countries reach an agreement on this matter, oil and gas in the OCA will come out in 8 to 10 years.
PHNOM PENH, Dec. 29 -- Cambodia and Thailand on Thursday agreed in principle to resume negotiations on the plan for the joint development of Overlapping Claim Area (OCA) in the Gulf of Thailand, which is believed to be rich in oil and gas.
The verbal agreement was made during a meeting between the minister of the Council of Ministers Sok An, the Chairman of Cambodian National Petroleum Authority, and visiting Thai minister of energy Pichai Naripthaphan.
"In principle, we had shown our intention to resume the negotiations on the overlapping claim area," Pichai told reporters after the meeting. "We want it (the joint development of OCA) to happen for the interests of both countries in terms of energy security for another 40 to 50 years."
The OCA covers about 26,000 square kilometers in the Gulf of Thailand.
He added that if the countries reach an agreement on this matter, oil and gas in the OCA will come out in 8 to 10 years.
December 15, 2011
China's CNOOC to start drilling 1st oil well offshore in Cambodia
[XINHUA]
PHNOM PENH, Dec. 14 -- The China National Offshore Oil Corporation (CNOOC) will start drilling the first well in the Block F offshore in Cambodia's Preah Sihanouk province later this month, Li Fanrong, the company's Chief Executive Officer, said Wednesday.
His disclosure was made during a meeting with Cambodia's Deputy Prime Minister Sok An, minister of the council of ministers, according to Ek Tha, spokesman and deputy director of the Council of Ministers' Press Department.
Li Fanrong said the start of the drilling showed the firm's commitment to investing in Cambodia's oil and gas sector and it resulted from good and long relationship between Cambodia and China, according to Ek Tha.
The first well drilling is expected to cost 20 million U.S. dollars.
Meanwhile, Sok An said it was a very good sign for Cambodia's oil and gas sector and added that Cambodia fully supported the firm for the drilling.
PHNOM PENH, Dec. 14 -- The China National Offshore Oil Corporation (CNOOC) will start drilling the first well in the Block F offshore in Cambodia's Preah Sihanouk province later this month, Li Fanrong, the company's Chief Executive Officer, said Wednesday.
His disclosure was made during a meeting with Cambodia's Deputy Prime Minister Sok An, minister of the council of ministers, according to Ek Tha, spokesman and deputy director of the Council of Ministers' Press Department.
Li Fanrong said the start of the drilling showed the firm's commitment to investing in Cambodia's oil and gas sector and it resulted from good and long relationship between Cambodia and China, according to Ek Tha.
The first well drilling is expected to cost 20 million U.S. dollars.
Meanwhile, Sok An said it was a very good sign for Cambodia's oil and gas sector and added that Cambodia fully supported the firm for the drilling.
December 5, 2011
Oil refinery in Cambodia to be built
[PHNOM PENH POST]
Construction on a US$2 billion oil refining plant, the Kingdom’s first, will start in April, according to officials close to the project.
The plant, which will be built on 365 hectares across Kampot and Sihanoukville provinces and is expected to be completed in 2014, is a joint venture among domestically owned Cambodian Petrochemical Company (CPC), China National Automation Control System Corporation and Sino March Company of China.
The refinery is expected to reduce the Kingdom’s growing dependence on petroleum imports.
“I believe after we can produce and refine by ourselves our price for oil will be comparable to neighbouring countries,” Hann Khieng, a CPC representative, said on Friday, “because we won’t be paying to import oil from abroad.” Those imports reached 1.2 million tonnes, or $1.14 billion, through October – a jump of 67 per cent year-on-year – according to the Ministry of Commerce.
Deputy Prime Minister Sok An had said previously that Cambodia’s current petroleum demand is more than 1 million tonnes a year, largely met with imports from Vietnam, Singapore and Thailand.
Construction on a US$2 billion oil refining plant, the Kingdom’s first, will start in April, according to officials close to the project.
The plant, which will be built on 365 hectares across Kampot and Sihanoukville provinces and is expected to be completed in 2014, is a joint venture among domestically owned Cambodian Petrochemical Company (CPC), China National Automation Control System Corporation and Sino March Company of China.
The refinery is expected to reduce the Kingdom’s growing dependence on petroleum imports.
“I believe after we can produce and refine by ourselves our price for oil will be comparable to neighbouring countries,” Hann Khieng, a CPC representative, said on Friday, “because we won’t be paying to import oil from abroad.” Those imports reached 1.2 million tonnes, or $1.14 billion, through October – a jump of 67 per cent year-on-year – according to the Ministry of Commerce.
Deputy Prime Minister Sok An had said previously that Cambodia’s current petroleum demand is more than 1 million tonnes a year, largely met with imports from Vietnam, Singapore and Thailand.
December 1, 2011
GDP growth drives petrol imports 67% year-on-year
[PHNOM PENH POST]
The Kingdom’s strong economic growth so far this year has driven petroleum imports 67 per cent higher year-on-year through October, according to Ministry of Commerce data.
Total imports reached 1.2 million tonnes, or US$1.14 billion worth, in the first 10 months of the year, compared to about 724,000 tonnes worth $485.9 million in the year-ago period, the ministry said.
Officials attributed the growth to a resurgent economy following the global downturn of the past few years.
“It reflects the resilience of our economy, especially the improvement of the manufacturing, production and agriculture sectors,” Kong Putheara, director of the Commerce Ministry’s statistics department, said.
“It also emphasises that our people can earn more income, so they need more petrol for their business activities or travelling,” he added.
The Kingdom’s strong economic growth so far this year has driven petroleum imports 67 per cent higher year-on-year through October, according to Ministry of Commerce data.
Total imports reached 1.2 million tonnes, or US$1.14 billion worth, in the first 10 months of the year, compared to about 724,000 tonnes worth $485.9 million in the year-ago period, the ministry said.
Officials attributed the growth to a resurgent economy following the global downturn of the past few years.
“It reflects the resilience of our economy, especially the improvement of the manufacturing, production and agriculture sectors,” Kong Putheara, director of the Commerce Ministry’s statistics department, said.
“It also emphasises that our people can earn more income, so they need more petrol for their business activities or travelling,” he added.
November 15, 2011
Ministry questions oil assessment
[PHNOM PENH POST]
Cambodia's Ministry of Environment told a Japanese oil company yesterday to better define the location of its initial onshore operations given the potential impact on the local population and environment.
The Ministry of Environment has required Japan Oil, Gas and Metals National Corporation to specify where it planned to drill 6,000 close-proximity holes for explosive seismic surveying in Cambodia’s Block 17, Mam Sambath, executive director of extractive industries watchdog DPA-EISEI, said yesterday.
Thailand-based International Environmental Management Co Ltd, which JOGMEC contracted to do the environmental impact assessment, said during the meeting that it would provide the ministry with details within nine days, according to Mam Sambath, who sent DPA-EISEI staff to the meeting. Members of the press were not allowed to attend the meeting, which is described by the ministry as open to the public.
Cambodia's Ministry of Environment told a Japanese oil company yesterday to better define the location of its initial onshore operations given the potential impact on the local population and environment.
The Ministry of Environment has required Japan Oil, Gas and Metals National Corporation to specify where it planned to drill 6,000 close-proximity holes for explosive seismic surveying in Cambodia’s Block 17, Mam Sambath, executive director of extractive industries watchdog DPA-EISEI, said yesterday.
Thailand-based International Environmental Management Co Ltd, which JOGMEC contracted to do the environmental impact assessment, said during the meeting that it would provide the ministry with details within nine days, according to Mam Sambath, who sent DPA-EISEI staff to the meeting. Members of the press were not allowed to attend the meeting, which is described by the ministry as open to the public.
November 10, 2011
Japanese oil firm plans Cambodian operations
[PHNOM PENH POST]
JAPAN Oil, Gas and Metals National Corporation has started preliminary surveying as the sole operator in Cambodia’s Block 17 onshore oil field, a 6,500 square-kilometre area of hilly forest in Kampong Thom, Preah Vihear and Siem Reap provinces, according to an Environmental Impact Assessment (EIA) of the project.
Insiders said the JOGMEC assessment is the first publicly available data for onshore oil projects in the Kingdom, although officials at the Ministry of Industry, Mines and Energy and Cambodian National Petroleum Authority (CNPA) could not be reached yesterday for confirmation.
The company began geological surveying – what it called “data acquisition” – on June 3 and continued through to early September, when the EIA was issued.
The next phase of the Japanese government-funded project involves dynamiting, and is expected to start in February of next year, provided the Ministry of Environment approves JOGMEC’s assessment.
The EIA notes oil exploration could follow the successful identification of oil reserves.
JAPAN Oil, Gas and Metals National Corporation has started preliminary surveying as the sole operator in Cambodia’s Block 17 onshore oil field, a 6,500 square-kilometre area of hilly forest in Kampong Thom, Preah Vihear and Siem Reap provinces, according to an Environmental Impact Assessment (EIA) of the project.
Insiders said the JOGMEC assessment is the first publicly available data for onshore oil projects in the Kingdom, although officials at the Ministry of Industry, Mines and Energy and Cambodian National Petroleum Authority (CNPA) could not be reached yesterday for confirmation.
The company began geological surveying – what it called “data acquisition” – on June 3 and continued through to early September, when the EIA was issued.
The next phase of the Japanese government-funded project involves dynamiting, and is expected to start in February of next year, provided the Ministry of Environment approves JOGMEC’s assessment.
The EIA notes oil exploration could follow the successful identification of oil reserves.
October 13, 2011
Thailand Needs Cambodia to Unlock ‘Huge’ Gulf Gas Reserves
“Thailand is running out of gas in 15 years,” he said in an interview in Bangkok today. “Petrochemical companies rely on components of wet gas from the Gulf of Thailand. Billions of dollars every year will be gone if we can’t get more supply.”
Thai Prime Minister Yingluck Shinawatra’s two-month-old government has sought to mend ties with Cambodia after gun battles in disputed border areas killed more than 20 people since 2008. Waters claimed by both countries contain enough gas to secure Thailand’s supply for 50 years, Pichai said.
October 10, 2011
Oil industry observers cheer first public release of EIA
[PHNOM PENH POST]
A major Chinese oil company will begin exploratory drilling this month in Cambodia’s offshore oil fields, according to an environmental report on the project, the first of its kind seen by the public.
China National Offshore Oil Corporation, which was granted a concession in 2006 in offshore Block F, will drill one exploratory well 37 kilometres south of Sihanoukville, according to an environment impact assessment completed in July.
Industry observers have lauded the public’s access to the EIA as a new level of openness and transparency in the Kingdom’s fledging oil industry. However, they also took issue with the Ministry of Environment for releasing the report last week despite having it since July.
“It’s fantastic because the EIA has been done before exploration and it has involved stakeholders in three provinces,” Extractive Industries Social and Environmental Impact chairman Mam Sambath said, referring to the engagement of locals in the region.
A major Chinese oil company will begin exploratory drilling this month in Cambodia’s offshore oil fields, according to an environmental report on the project, the first of its kind seen by the public.
China National Offshore Oil Corporation, which was granted a concession in 2006 in offshore Block F, will drill one exploratory well 37 kilometres south of Sihanoukville, according to an environment impact assessment completed in July.
Industry observers have lauded the public’s access to the EIA as a new level of openness and transparency in the Kingdom’s fledging oil industry. However, they also took issue with the Ministry of Environment for releasing the report last week despite having it since July.
“It’s fantastic because the EIA has been done before exploration and it has involved stakeholders in three provinces,” Extractive Industries Social and Environmental Impact chairman Mam Sambath said, referring to the engagement of locals in the region.
October 5, 2011
Thais to reconsider oil MoU
[PHNOM PENH POST]
Cambodian officials yesterday welcomed statements from Thailand’s foreign minister that an all-important 2001 memorandum of understanding on the Overlapping Claims Area would most likely be renewed.
Foreign Minister Surapong Towichukchaikul said the MoU would be sent to Thai Prime Minister Yingluck Shinawatra’s cabinet on October 18 for review, according to Pheu Thai spokeswoman Titima Chaisang. The 2001 agreement between the two governments originally outlined a plan for defining the disputed Overlapping Claims Area, which is believed to be rich in oil and gas.
However, the MoU was later discarded in 2009 by former Prime Minister Abhisit Vejjajiva after Cambodia named fugitive former Thai Primer Minister Thaksin Shinawatra an economic advisor to the Kingdom.
Although unrecognised by Thailand for two years, the MoU could be renewed if re-approved by the cabinet, Titima Chaisang said.
Cambodian officials yesterday welcomed statements from Thailand’s foreign minister that an all-important 2001 memorandum of understanding on the Overlapping Claims Area would most likely be renewed.
Foreign Minister Surapong Towichukchaikul said the MoU would be sent to Thai Prime Minister Yingluck Shinawatra’s cabinet on October 18 for review, according to Pheu Thai spokeswoman Titima Chaisang. The 2001 agreement between the two governments originally outlined a plan for defining the disputed Overlapping Claims Area, which is believed to be rich in oil and gas.
However, the MoU was later discarded in 2009 by former Prime Minister Abhisit Vejjajiva after Cambodia named fugitive former Thai Primer Minister Thaksin Shinawatra an economic advisor to the Kingdom.
Although unrecognised by Thailand for two years, the MoU could be renewed if re-approved by the cabinet, Titima Chaisang said.
September 23, 2011
Oil-claims talks ‘highly likely’
[PHNOM PENH POST]
Thailand is reportedly preparing to re-enter negotiations with Cambodia on the Overlapping Claims Area after officials from the two countries talked this week at the ASEAN Energy Business Forum in Brunei.
Thai Energy Minister Pichai Naripthaphan said yesterday that he met informally with Ministry of Industry, Mines and Energy secretary of state Ith Praing at the forum and both agreed “the development of the OCA is highly likely”.
However, he noted that previous agreements to share petroleum resources with neighbouring countries took more than a decade to materialise. Therefore no deadline had been set for the OCA’s development.
“This doesn’t necessarily mean we will drill for oil, as a lot preparation and negotiation are required,” Pichai Naripthaphan said in Brunei.
Thailand is reportedly preparing to re-enter negotiations with Cambodia on the Overlapping Claims Area after officials from the two countries talked this week at the ASEAN Energy Business Forum in Brunei.
Thai Energy Minister Pichai Naripthaphan said yesterday that he met informally with Ministry of Industry, Mines and Energy secretary of state Ith Praing at the forum and both agreed “the development of the OCA is highly likely”.
However, he noted that previous agreements to share petroleum resources with neighbouring countries took more than a decade to materialise. Therefore no deadline had been set for the OCA’s development.
“This doesn’t necessarily mean we will drill for oil, as a lot preparation and negotiation are required,” Pichai Naripthaphan said in Brunei.
Calls for Kingdom to join transparency group
[PHNOM PENH POST]
A new US commitment to oil and mining transparency may push the Kingdom closer to a similar agreement, Cambodian experts have said.
US President Barak Obama announced earlier this week that the US would join the Extractive Industries Transparency Initiative as an implementing country, according to a White House statement. The pledge, the first from a G8 country, commits the United States to public disclosure of revenues from oil, gas and mining assets.
Cambodia considered EITI membership in 2007 but has since declined to sign on.
The signatory status of the world’s biggest oil consumer, however, could result in more pressure on the Kingdom to do the same, Cambodians for Resource Revenue Transparency (CRRT) chairman Mam Sambath said yesterday.
A new US commitment to oil and mining transparency may push the Kingdom closer to a similar agreement, Cambodian experts have said.
US President Barak Obama announced earlier this week that the US would join the Extractive Industries Transparency Initiative as an implementing country, according to a White House statement. The pledge, the first from a G8 country, commits the United States to public disclosure of revenues from oil, gas and mining assets.
Cambodia considered EITI membership in 2007 but has since declined to sign on.
The signatory status of the world’s biggest oil consumer, however, could result in more pressure on the Kingdom to do the same, Cambodians for Resource Revenue Transparency (CRRT) chairman Mam Sambath said yesterday.
Oil and Gas Expected Late Next Year: Lawmaker
[VOA]
Cambodia expects to see its first flow of oil and gas from offshore blocs in December 2012, a senior lawmaker said.
Speaking at a resources conference over the weekend, Cheam Yiep, a Cambodian People’s Party parliamentarian, said “if nothing changes, Cambodia will get its first oil on Dec. 12, 2012, at noon.”
Oil and gas production represent an “opportunity” for increased economic growth and poverty reduction, he said.
However, Cheam Yiep said the goal was not yet to put a polished product on the market, but to sell the raw resources.
Cambodia expects to see its first flow of oil and gas from offshore blocs in December 2012, a senior lawmaker said.
Speaking at a resources conference over the weekend, Cheam Yiep, a Cambodian People’s Party parliamentarian, said “if nothing changes, Cambodia will get its first oil on Dec. 12, 2012, at noon.”
Oil and gas production represent an “opportunity” for increased economic growth and poverty reduction, he said.
However, Cheam Yiep said the goal was not yet to put a polished product on the market, but to sell the raw resources.
September 21, 2011
PM talks gas and oil with Thai assembly head
[PHNOM PENH POST]
PRIME Minister Hun Sen held talks with the President of the Thai National Assembly Somsak Kiatsuranont in the capital yesterday, paving the way for the extraction of contested oil and gas reserves in the Gulf of Thailand.
Since Yingluck Shinawatra led Pheau Thai party to take power in Thailand in August, efforts to resolve the disputed Overlapping Claims Area have been bolstered by a series of high-profile visits from the new Thai Prime Minister and her brother Thaksin Shinawatra.
Yesterday’s talks between Hun Sen and Somsak focused on restoring diplomatic relations between the neighbours so both Kingdom’s could begin exploiting resources in the 27,000-square-kilometre OCA, the premier’s personal spokesman Eang Sophalleth said.
PRIME Minister Hun Sen held talks with the President of the Thai National Assembly Somsak Kiatsuranont in the capital yesterday, paving the way for the extraction of contested oil and gas reserves in the Gulf of Thailand.
Since Yingluck Shinawatra led Pheau Thai party to take power in Thailand in August, efforts to resolve the disputed Overlapping Claims Area have been bolstered by a series of high-profile visits from the new Thai Prime Minister and her brother Thaksin Shinawatra.
Yesterday’s talks between Hun Sen and Somsak focused on restoring diplomatic relations between the neighbours so both Kingdom’s could begin exploiting resources in the 27,000-square-kilometre OCA, the premier’s personal spokesman Eang Sophalleth said.
September 12, 2011
Yingluck adds fuel to gas talks
[PHNOM PENH POST]
Deputy Prime Minister and head of the Cambodian National Petroleum Association Sok An has called for the resumption of talks with Thailand over the disputed overlapping claims area in the Gulf of Thailand, believed to be rich in oil and natural-gas reserves.
The oil industry had the potential to be a lucrative resource for Cambodia’s developing economy, he told re-porters at Phnom Penh Inter-national Airport on Friday.
“We shouldn’t keep our black gold in the bay, we need to extract it,” Sok An said after returning from the Internat-ional Conference on Asian Political Parties.
“We are looking forward to having productive and open public discussions with the new Thai administration led by Prime Minister Yingluck.”
A 2001 memorandum of understanding on joint management of the 27,000 square kilometre area was put on hold by the Thai government in November 2009 following the appointment of ousted Thai prime minister Thaksin Shinawatra as an economic adviser to Cambodia.
Thai Energy Minister Pichai Naripthaphan has said he is still waiting for the Foreign Ministry to finalise the framework for discussions, according to a report in the Bangkok Post last week.
Deputy Prime Minister and head of the Cambodian National Petroleum Association Sok An has called for the resumption of talks with Thailand over the disputed overlapping claims area in the Gulf of Thailand, believed to be rich in oil and natural-gas reserves.
The oil industry had the potential to be a lucrative resource for Cambodia’s developing economy, he told re-porters at Phnom Penh Inter-national Airport on Friday.
“We shouldn’t keep our black gold in the bay, we need to extract it,” Sok An said after returning from the Internat-ional Conference on Asian Political Parties.
“We are looking forward to having productive and open public discussions with the new Thai administration led by Prime Minister Yingluck.”
A 2001 memorandum of understanding on joint management of the 27,000 square kilometre area was put on hold by the Thai government in November 2009 following the appointment of ousted Thai prime minister Thaksin Shinawatra as an economic adviser to Cambodia.
Thai Energy Minister Pichai Naripthaphan has said he is still waiting for the Foreign Ministry to finalise the framework for discussions, according to a report in the Bangkok Post last week.
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