Logo of Phnom Penh Post newspaper Phnom Penh Post - Oil production hits 40K barrels in 33 days: PM

Oil production hits 40K barrels in 33 days: PM

Content image - Phnom Penh Post
Singapore-based oil and gas exploration company KrisEnergy Ltd has pumped about 40,788 barrels of crude oil from Cambodian waters. MINISTRY OF MINES AND ENERGY

Oil production hits 40K barrels in 33 days: PM

Singapore-based oil and gas exploration company KrisEnergy Ltd has pumped about 40,788 barrels of crude oil from Cambodian waters, according to Prime Minister Hun Sen on February 1.

This is since the December 28 maiden oil extraction from the offshore Cambodia Block A concession in the Khmer Basin’s Apsara oilfield.

Hun Sen said the PV Drilling III jack-up rig on January 30 began drilling the second well of the five-well “Mini Phase 1A” mini platform.

“I would like to assure our compatriots that our first oilfield has been in operation for 33 days, producing 1,236 barrels a day. In 33 days, 40,788 barrels,” he said. “We will continue to pump oil in 2021.”

If international oil prices remain at around $55 per barrel, the Kingdom could net about $30 million per annum from the commodity, he added, citing predictions from Minister of Mines and Energy Suy Sem.

“Estimates show that we’ll pump out between 7,000 and 7,500 barrels a day, which is a considerably miniscule volume that won’t leave a profound impact on our economy soon, but it is a good start for the oil and gas industry in Cambodia,” he said.

General Department of Petroleum director-general Cheap Sour confirmed to The Post that KrisEnergy is drilling the remaining four wells of the mini platform to accompany A-01D, the source of the Kingdom’s first drop of oil extracted.

Once completed and commissioned, the five wells could reach a peak rate of approximately 7,500 barrels per day, he said.

“According to the plan, the company will have commissioned another well of the platform by the end of February.”

At the same time, the prime minister also claimed that Cambodia is pushing for negotiations with the Thai side on oil and gas development projects in the long-contested Overlapping Claims Area (OCA) in the Gulf of Thailand.

“We have to bend over backwards to strike negotiations with Thailand. We’ll push for talks with them concerning doing business in the overlapping area,” he said.

Development rights to the 26,000sq km OCA, which overlaps the Cambodian and Thai borders in the Gulf of Thailand, has been a point of contention between the two neighbouring nations, which have claimed the area since the early 1970s.

The OCA is estimated to hold up to 500 million barrels of oil and gas deposits under the seafloor.

MOST VIEWED

  • Kingdom's Covid cluster cases jump to 194

    The Ministry of Health on February 25 confirmed 65 new cases of Covid-19, with 58 linked to the February 20 community transmission. The latest cluster cases include nine Vietnamese nationals, five Cambodians, one each from Korea, Singapore and Japan, with the rest being Chinese. This brings the total number

  • Locations shut, dozens more Covid-19 positive

    The Ministry of Health has closed 23 locations in connection with the February 20 community transmission of Covid-19 and summoned for testing anyone who had direct contact with affected people and places. The number of discovered related infections has risen to 76, including 39 women. In a press release,

  • Preah Sihanouk hit with travel ban

    Preah Sihanouk Provincial Administration has announced a temporary travel ban to and from the province, except for ambulances and trucks transporting goods. The announcement came after prime minister Hun Sen called on people in the province to travel only if necessary, and that people not

  • Cambodia's Covid cluster cases rise to 137

    The Ministry of Health on February 24 recorded 40 more cases of Covid-19, with 38 linked to the February 20 community transmission. Of the 40, two are imported cases involving Chinese passengers. The 38 include two Vietnamese nationals and one Cambodian, with the rest being Chinese. This brings the total cases

  • Covid cluster raises alarm, health bodies urge vigilance

    The Ministry of Health and the World Health Organisation (WHO) in Cambodia have expressed great concern over the February 20 cluster transmission of Covid-19 in the community. Both entities appealed for vigilance and cooperation in curbing further spread of the virus. Ministry spokeswoman Or Vandine said

  • AstraZeneca jabs touch down in Phnom Penh airport

    The first shipment of 324,000 doses of the AstraZeneca/SII vaccine which was provided through the Covid-19 Vaccines Global Access (COVAX) Facility was delivered to Phnom Penh International Airport on March 2. The rest of the COVAX provided vaccines will arrive in Cambodia at a later date.