Logo of Phnom Penh Post newspaper Phnom Penh Post - UAE prince seeks to invest in Cambodia

UAE prince seeks to invest in Cambodia

Content image - Phnom Penh Post
Sheikh Ahmed bin Dalmook bin Juma al-Maktoum on Wednesday discussed with Suy Sem working together to find oil and gas investments in Cambodia. Photo supplied

UAE prince seeks to invest in Cambodia

The UAE has expressed interest in Cambodian oil and gas exploration. Minister of Mines and Energy Suy Sem said this was the result of his discussions with Sheikh Ahmed bin Dalmook bin Juma al-Maktoum, a member of the royal family who visited him on Wednesday.

The ministry spokesperson Cheap Sour who said this, added that while no agreement or decision was made in the meeting, the two parties expressed a commitment to exchange information on the sector’s development.

“It is the first time that the UAE has expressed its interest in the Cambodian oil and gas sector. We’re creating [lines of communication] to facilitate getting in touch with each other and working closely through e-mail,” Sour said.

The UAE comprises seven emirates – Abu Dhabi, Ajman, Dubai, Fujairah, Ras Al-Khaimah, Sharjah and Umm al-Quwain – located along the southeast coast of the Arabian Peninsula.

With the exception of Dubai, most of the UAE economies rely on petroleum production and oil revenues.

A major producer, the UAE extracts around three million barrels per day (bpd) of crude oil and plans to boost output to 3.5 million bpd by the end of this year.

On Tuesday, Sheikh Ahmed met Prime Minister Hun Sen in Phnom Penh and vowed to provide a $500 million credit line to the Kingdom to import goods from Arab countries.

MOST VIEWED

  • Government denies claims former Thai PM Yingluck issued Cambodian passport

    Government officials on Thursday denied claims that a Cambodian passport was issued to former Thai Prime Minister Yingluck Shinawatra, who reportedly used it to register a company in Hong Kong. The Hong Kong-based English language South China Morning Post (SCMP) on Wednesday reported Hong Kong

  • US’ Cambodian ambassador appointment blocked

    The US Senate returned the nomination of Patrick Murphy as Ambassador to Cambodia back to US President Donald Trump on Thursday, as the American government shutdown entered its third week. The US Senate website announcement said it returned Murphy’s nomination as ambassador as his

  • Diplomatic passports issued to foreigners to be annulled

    The Ministry of Foreign Affairs and International Cooperation will move to annul diplomatic passports issued to those not born in Cambodia. Analysts say the move may be in relation to reports that former Thai prime minister Yingluck Shinawatra used a Cambodian passport to register as

  • Hun Sen warns Irish MP of EBA ‘mistake’

    Prime Minister Hun Sen on Saturday told former Irish premier Enda Kenny, still a member of the EU nation’s parliament, that the 28-nation bloc should not make a “third mistake” regarding Cambodia by using the preferential Everything But Arms (EBA) agreement to “take 16 million