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Firm edges closer to tapping Apsara oil field

Firm edges closer to tapping Apsara oil field

Singapore-listed KrisEnergy Ltd, the company that holds a 95 percent stake in the Block A offshore oil field, is set to sign a petroleum agreement with the Cambodian government next week that could see it finally tapping into the Kingdom’s Apsara oil field, a company filing said.

Tanya Pang, the company’s VP for investor relations and corporate communications, said that when the agreement is signed next week the company will disclose the fiscal terms and development timeline for oil extraction.

The company posted total revenues for the first half of this year of $68.5 million, a 7.3 percent increase compared to the same period last year, on the back of higher crude oil and natural gas prices despite lower sales volumes.

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