SPC Cambodia Limited has reached an agreement with the government to claim a 30 percent
interest in the Block B Petroleum Agreement, for oil exploration off the coast of
Cambodia, according to an August 24 press release from the company.
SPC Cambodia is a wholly-owned subsidiary of Singapore Petroleum Company.
Over the next three years, SPC Cambodia and its partners will explore the area by
drilling one exploration well and collecting 200 square kilometers of 3D seismic
data about Block B, located 250 kms offshore from Cambodia.
Other exploration partners are Thailand's PTT Exploration and Production International
Limited (30 percent interest), Malaysian-controlled Resourceful Petroleum Limited
(30 percent), and Australian-based Cooper Energy Limited (10 percent).