Logo of Phnom Penh Post newspaper Phnom Penh Post - Thailand urged to talk after oil strike

Thailand urged to talk after oil strike

Thailand urged to talk after oil strike

Asenior Cambodian government official has called for

urgent talks with Thailand to settle the issue of the two country's maritime

boundaries following the discovery of local offshore oil.

"As the Kingdom

of Cambodia we are preparing all the documents to discuss overlapping areas - we

want to move as soon as possible.

We are getting technical advice from

various sources," Under-Secretary of State for Industry, Mines and Energy Nhep

Bunchin said.

The Japanese consortium Campex struck oil in Block Three

with their test well Apsara 1, about 155 km southwest of Sihanoukville in the

Gulf of Thailand.

Bunchin said news of the preliminary find had sparked a

rush of proposals from oil explorers "now watching Cambodia like a

eagle."

Both countries now had "overlapping claims" to the prospective

lease areas, he added.

Bunchin hoped oil production could get under way

by the year 2000 or even earlier and said a priority for the government would be

to build a new oil refinery in Sihanoukville.

Two or three companies have

been short listed to build a small-capacity refinery of 10,000 barrels per day

for an estimated cost of $200 million. Malaysia's Petronas company and the

Petroleum Authority of Thailand were good examples for Cambodia to study, he

said.

Oil industry analysts have however questioned the economic wisdom

of Cambodia building its own refinery, when the region already has an over

capacity of such facilities.- Reuters

MOST VIEWED

  • Purging Sihanoukville’s past with a new masterplan

    Amid illicit activities, haphazard development and abandoned projects, the coastal city of Sihanouk province needs a reset to move forward. A new masterplan might be the answer to shake off its seemingly mucky image to become the Shenzhen of the south Gun toting, shootouts, police

  • Chinese may be first in tourism revival: PM

    Cambodia's tourism industry is gearing up to roll out the red carpet for Chinese travellers after Prime Minister Hun Sen on September 17 indicated that the Kingdom could soon throw open its doors to international holidaymakers vaccinated against Covid-19 – starting with guests from China. Cambodia Chinese

  • 'Pursue your goals, reach out to me': Young diplomat tapped as envoy to South Korea

    Chring Botum Rangsay was a secretary of state at the Ministry of Foreign Affairs and International Cooperation before being designated as the new Cambodian ambassador to South Korea. According to her official CV published on the foreign ministry’s website, she started her first government

  • Tourism concerns laid bare

    To ensure the success of plans to reopen the tourism market for international visitors, Cambodia must pay utmost attention to two primary determinants – the ongoing paradigm shift in domestic tourism services towards the ‘new normal’, and the factors influencing choices of destinations among foreign holidaymakers.

  • Covid jab drive for 6-11 age group to begin Sept 17

    Prime Minister Hun Sen has permitted Covid-19 vaccinations for over 1.8 million children aged 6-11 across the country from September 17 in order for them to return to school after a long hiatus. Hun Sen also hinted that vaccinations for the 3-6 age group will follow in

  • No ‘Crown Prince’ exists to buy France football club: ministry

    The Ministry of the Royal Palace has denied media reports that a Cambodian “Crown Prince” had purchased the AS Saint Etienne football club of France’s top-flight LIGUE 1 at the cost of €100 million ($117 million). In a press statement on September 19, the ministry stressed that Cambodia