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

  • Cambodia on the verge of national tragedy, WHO warns

    The World Health Organisation (WHO) in Cambodia warned that the country had reached another critical point amid a sudden, huge surge in community transmission cases and deaths. “We stand on the brink of a national tragedy because of Covid-19. Despite our best efforts, we are

  • Phnom Penh placed in two-week lockdown

    The government has decided to place Phnom Penh in lockdown for two weeks, effective April 14 midnight through April 28, as Cambodia continues to grapple with the ongoing community outbreak of Covid-19, which has seen no sign of subsiding. According to a directive signed by Prime Minister

  • Vaccination open to foreigners in Cambodia

    The Ministry of Health on April 8 issued an announcement on Covid-19 vaccination for foreigners residing and working in Cambodia, directing the Ministry of Labour and Vocational Training and local authorities to register them. Health minister Mam Bun Heng, who is also head of the inter-ministerial

  • Culture ministry: Take Tuol Sleng photos down, or else

    The Ministry of Culture and Fine Arts has told Irish photographer Matt Loughrey to take down the photos of Khmer Rouge victims at Tuol Sleng Genocidal Museum which he allegedly colourised and altered to show them smiling. The ministry said Loughrey's work is unacceptable, affecting

  • Cambodia gears up for muted New Year festival

    The recent curfew and restrictions imposed in the capital and other Covid-19 hotspots were intended to break the chain of transmission, Ministry of Health spokeswoman Or Vandine said as municipal and provincial authorities issued new directives banning certain activities during the upcoming Khmer New Year

  • Covid-19 vaccination now obligatory

    Prime Minister Hun Sen on April 11 issued a sub-decree making Covid-19 vaccination compulsory for individuals unless they have a medical certificate proving they have pre-existing health conditions that prevent them from doing so. «This applies to all members of the armed forces and civil servants