Logo of Phnom Penh Post newspaper Phnom Penh Post - Chinese company granted licence to explore Block D

Chinese company granted licence to explore Block D

Content image - Phnom Penh Post
Cambodian Resources Energy Development Co Ltd has been granted a three-year exploration licence in the Gulf of Thailand’s Block D, off the coast of Cambodia. Photo supplied

Chinese company granted licence to explore Block D

Chinese-owned Cambodian Resources Energy Development Co Ltd has been granted a three-year exploration licence in the Gulf of Thailand’s Block D, off the coast of Cambodia, a senior official at the General Department of Petroleum told The Post on Thursday.

General Department of Petroleum director-general Cheap Sour said the Ministry of Mines and Energy and Cambodian Resources Energy Development signed an agreement in December that gave the company the right to explore the area.

The company is scheduled to begin exploration of Block D this year.

“Right now, the company is studying all the paperwork. Next, they will begin exploring the oil field.

“If they see that the bloc has potential, they will begin preparations to extract oil. But we are in the beginning stages, so it will take a long time before any oil is extracted,” he said.

He noted that the ministry is prioritising attracting more investors to the mines and energy sector in the Kingdom.

Block D is a 5,500sq km zone in the Gulf of Thailand that was previously licensed to local firm CPHL (Cambodia) Co Ltd.

The government revoked that exploration licence in May 2016 after the company failed to meet the terms of the agreement.

According to Sour, Cambodia has divided regions for kerosene exploration into six offshore and 19 onshore blocks.

Sour said the ministry is currently negotiating an agreement with Canadian firm EnerCam Co to explore Block VIII.

“I expect that we will be reaching an agreement on oil exploration with the company soon,” he said.

Singapore-based KrisEnergy is currently developing the Apsara oilfield in Cambodia’s offshore Block A. The company aims to extract the first drop of oil later this year. The field is expected to reach a peak rate of 7,500 barrels of oil per day, according to KrisEnergy.

MOST VIEWED

  • PM orders immediate action against ‘sexy’ live streamers

    Prime Minister Hun Sen on Monday ordered immediate action against women who live stream their sales pitches on Facebook wearing revealing clothing. The prime minister said the practice erodes traditional Cambodian values and disgraces women. Hun Sen gave the order to officials attending the Cambodian

  • Trump tweets praise for Kingdom docking ship

    Cambodia continues to earn praise for its humanitarian act of allowing the MS Westerdam cruise ship with more than 2,200 passengers and crew on board to dock at the Preah Sihanouk port. The praise this time comes from none other than US President Donald Trump. “Thank

  • Tourist area greenlit in Sihanoukville

    The National Committee for Coastal Management and Development will coordinate with relevant ministries over the establishment of a billion-dollar tourist area named Neak Reach in Preah Sihanouk province after it was proposed by the Ministry of Tourism. The Ministry of Land Management, Urban Planning and

  • Hun Sen defends decision to dock Westerdam cruise ship

    Prime Minister Hun Sen on Thursday hit back at critics who say he allowed the Westerdam cruise ship to dock in Sihanoukville for political reasons. Speaking at an annual gathering of the Ministry of Interior, Hun Sen said he acted to avert a humanitarian catastrophe

  • Organic vegetable retailer unveils QR code scheme for origin source

    Organic vegetable retailer Natural Agriculture Village has introduced QR codes on its product packaging, which will allow consumers to see where their produce comes from. Natural Agriculture Village president Bun Sieng, who is also a member of local distributor Green Gold, told The Post on

  • Cool heads will defeat Covid-19

    Since Covid-19 was first reported as a world health issue, cruise ships have been the worst to suffer after airlines. The experiences of those who were initially trapped on the Covid-19-stricken Diamond Princess are unimaginable. The cruise ship was rejected from docking at one