Logo of Phnom Penh Post newspaper Phnom Penh Post - Foreign bids for oil

Foreign bids for oil

Foreign bids for oil

T EN foreign firms have lodged bids with the Cambodian government for the right to explore for oil and gas in the Gulf of Thailand, mines and energy minister Pou Sothirak said on Nov 24.

Sothirak said the bids were for four new concessions, including an on-shore block in northwest Pursat province where insurgent Khmer Rouge guerrillas have bases.

"The Royal Government has released four blocks. Blocks five, six and seven are offshore and block 10 is on shore. They're for foreign bidders," Sothirak told Reuters.

He said the 10 bids, each enclosed with a $5,000 non-refundable fee, were from British, U.S., Malaysian and Japanese firms.

The concessions lie within Cambodian territory and are unaffected by overlapping boundary claims from neighboring Thailand, he said.

British explorers Enterprise Oil and Premier Oil and Japan's Campex consortium have all sunk successful test wells in Cambodia this year.

Enterprise Oil said last September that one of its test wells yielded 4.7 million cubic feet (133,000 cubic meters) of gas and 180 barrels per day of light condensate crude.

MOST VIEWED

  • Proof giants walked among us humans?

    For years a debate has waged about whether certain bas relief carvings at the 12th-century To Prohm Temple, one of the most popular attractions at the Angkor Wat Temple Complex in Siem Reap province, depicted dinosaurs or some rather less exotic and more contemporary animal,

  • New US bill ‘is a violation of Cambodian independence’

    After a US congressmen introduced bipartisan legislation that will enact sanctions on Cambodian officials responsible for “undermining democracy” in the Kingdom, government officials and the ruling Cambodian People’s Party on Sunday said they regarded the potential action as the “violation of independence and sovereignty

  • Long way to go before Cambodia gets a ‘smart city’

    Phnom Penh, Siem Reap and Battambang will struggle to attain smart city status without adopting far reaching master plans, according to officials tasked with implementing the program. The brainchild of the Association of Southeast Asian Nations (Asean), the smart city program seeks to link up

  • Japan bank buys major stake in ANZ Royal Bank

    Japan's largest bank acquired more than half of ANZ’s shares in Cambodia on Thursday, according to a statement from Kith Meng’s Royal Group. Japan's JTrust Bank, announced that they had acquired a 55% of stake in ANZ Royal Bank. According to a Royal Group