Logo of Phnom Penh Post newspaper Phnom Penh Post - Draft oil bill unanimously approved

Draft oil bill unanimously approved

Content image - Phnom Penh Post
The National Assembly unanimously approves a draft bill on the management and production of oil on Monday, retaining its full original content. Hong Menea

Draft oil bill unanimously approved

At the government’s request, the National Assembly has unanimously decided to retain the full original content of a draft bill on the management and production of oil, as the development of the Kingdom’s coastal and marine oil and gas resources continues to progress.

This was after the bill had been debated and compromises made with the government to facilitate its passage into law.

National Assembly president Heng Samrin told a plenary session on Monday that the draft bill was incorporated in line with decisions made by the assembly’s permanent commission at meetings held from June 5-13 during the second session of the sixth legislature, where six items were on the agenda.

Nin Saphon, chairperson of the National Assembly’s commission on public works, transport, telecommunications, post, industry, energy, commerce and land management, presented a review of the draft bill at the assembly’s hall, saying it had been submitted by the government to the assembly for speedy review and approval on April 5.

The permanent commission reviewed the draft bill on April 26 and decided to hand it to the ninth assembly commission for further study and research, Saphon said, and the commission had completed that task in line with procedures set out in the constitution.

She said the commission found the draft bill to be important and necessary and agreed to Samrin’s request to hold a workshop to learn about it.

“On June 6, the ninth commission called a further meeting to summarise the various recommendations brought up by the workshop’s participants for another internal review of the draft bill. The commission also agreed to retain the full original content,” Saphon said.

She said that on June 10, the commission collaborated with all National Assembly specialist commissions to meet with government representatives led by Minister of Mines and Energy Suy Sem in order to review and discuss the final draft bill.

“As per representations by the senior leadership of the Ministry of Mines and Energy on June 16, the June 6 workshop and the June 10 inter-committee meeting with government representatives, both supported the draft bill without requesting any revision of the original government content,” she said.

Content image - Phnom Penh Post
National Assembly president Heng Samrin on Monday. Hong Menea

Saphon said the draft bill contains nine chapters, 72 articles and an annexe explaining the key technical content.

First oil production soon

A statement released after Monday’s session said teams of Chinese and Polish geologists began Cambodia’s first research into exploring mining and petroleum resources in the 1960s, compiling basic documents and a geological map.

It said that in order to court investors in the Kingdom’s resources and to prepare those resources according to international standards, Cambodia approved fundamental regulations to pave the way for investors to join the first international bidding process in 1991.

It was later deemed that the existing 1991 regulations were not appropriate for the development of the oil sector in the context of the Kingdom’s social, economic and environmental development.

Therefore, the government re-formulated a draft bill to manage and develop the nation’s oil resources in an effective, transparent and accountable manner in order to attract and reassure investors and promote sustainable and effective development.

Block A on the coast will soon produce oil for the first time in Cambodia’s history, the statement said.

It said the draft bill was first drawn up by the Ministry of Mines and Energy in 1996, with the assistance of legal experts from the Asian Development Bank. It was further reviewed by legal experts from a Japanese firm.

The statement said that in 2006, the former Cambodian National Petroleum Authority (CNPA) revised the bill in consultation with national and international technical and legal experts.

After the CNPA was integrated under the Ministry of Mines and Energy in 2013, the bill was further revised to incorporate the experiences of other countries such as Australia, Brunei, East Timor, Indonesia, Japan, Malaysia, Norway, Thailand and Vietnam.

MOST VIEWED

  • Ministry requests school opening

    The Ministry of Education, Youth and Sport on Thursday said it would request a decision from Prime Minister Hun Sen to allow a small number of schools to reopen next month. Ministry spokesman Ros Soveacha said if the request is granted, higher-standard schools will reopen

  • Kingdom eyes India FTA, China deal set for August

    Cambodia is studying the possibility of establishing a bilateral free trade agreement (FTA) with India to open a new market with the second-largest regional economy. This comes as an FTA with China is scheduled to be signed next month while similar negotiations with South Korea

  • Judge lands in court after crashing into alleged thief

    Sen Sok district police on Thursday sent a Koh Kong Provincial Court judge to the Phnom Penh Municipal Court on manslaughter charges after he crashed his car into a woman riding a motorbike on Wednesday, killing her. District police chief Hour Meng Vang told The

  • Gov’t to boost Siem Reap tourism

    The Ministry of Tourism released the results of an inter-ministerial committee meeting concerning Siem Reap province’s Tourism Development Master Plan for 2020-2035 on Wednesday, revealing the government’s plan to improve the overall tourist landscape there. The meeting was attended by Minister of Tourism

  • ‘On the offensive’: Cambodia to load up on loans to stimulate economy

    As the dust settles on the economy, Cambodia comes to grips with what needs to be done to turn the economy around, starting with a big shopping list for credit ‘We are going on the offensive,” Vongsey Vissoth, Ministry of Economy and Finance permanent secretary

  • Government set to make up for cancelled April holiday

    The government is set to make up for a five-day Khmer New Year holiday late this month or early next month. The holiday was earlier cancelled due to the onset of Covid-19. The announcement is expected on Friday as the government is studying a range

  • Families told to register for cash handouts

    The government has called on poor families to apply to commune authorities for evaluation to receive financial support during the Covid-19 crisis. A $300 million budget has been planned for implementation within a year. Ministry of Economy and Finance secretary of state Vongsey Visoth said this

  • Crumbling prices, rent ruffle condo segment

    The prolonged decline in international arrivals to Cambodia intensified by renewed Covid-19 fears has driven down condominium sales prices and rental rates in Phnom Penh, a research report said. CBRE Cambodia, the local affiliate of US commercial real estate services and investment firm CBRE Group

  • Over $3M in traffic fines collected in two months

    Traffic police officers collected over $3 million in fines throughout the Kingdom during the past two months when officers strictly enforced the law in accordance with a May sub-decree, officials said. As incentives, law enforcement officers received between 200,000 and two million riel ($50 to $500) each. The figures

  • More than 10,000 workers suspended

    More than 10,000 workers at 18 factories in Svay Rieng province have been suspended because of Covid-19, said provincial deputy governor Ros Pharith. Home to 11 special economic zones, Pharith said Svay Rieng has not been spared as the pandemic takes a toll on the global economy. “There