Search form

Login - Register | FOLLOW US ON

Logo of Phnom Penh Post newspaper Phnom Penh Post - Oil money

Oil money

South Korea's LG-Caltex Oil has bought a stake in offshore Block A, the Cambodian

oil field in the Gulf of Thailand, Reuters reported on March 11. The firm will pay

$18 million to ChevronTexaco for 15 percent of exploration rights, cutting Chevron's

stake to 55 percent, while Japan's Mitsui Oil retains 30 percent. Preliminary studies

estimate Block A contains 400 million barrels of crude oil and three trillion cubic

feet of gas. LG-Caltex's earnings from its investment are estimated at $600 million.

0

Comments

Please, login or register to post a comment

Latest Video

Explore the durian and rubber farms of Kampong Cham

Take a drive north of Kampong Cham, past the dirt roads and the dense greenery.

Kem Sokha talks politics, power and Hun Sen

Kem Sokha, leader of the Cambodia National Rescue Party, sat down with The Post’s Alex Willemyns and Mech Dara to discuss his supporters’ initial disappointment with this year’s

The final results from the National Election Committee for the June 4 commune elections show the Cambodian People’s Party taking 1,156 communes to

NEC officials tally votes during a recount last week in Phnom Penh.

Cambodia’s National Election Committee last week rejected 33 of 61 complaints filed over the conduct of June 4’s commune election, according to a s