Senior Cambodian and Thai officials are reportedly discussing a joint development area (JDA) for oil and gas exploration within the 26,000sq km Overlapping Claims Area (OCA) – estimated to hold up to 500 million barrels of oil and gas deposits under the seafloor – in the interest of a sustainable energy future as a power crisis looms heavy on the horizon.
Cambodia is set to receive more than $14 million in proceeds from the sale of nearly 300,000 barrels of crude oil stolen by the Bahamas-flagged tanker MT Strovolos last year following a payment dispute with the Apsara oil field’s Singaporean developer, KrisEnergy, according to a senior energy official.
The government has given the nod to EnerCam Resources Co Ltd, a subsidiary of Toronto-listed Angkor Resources Corp, for oil and gas exploration, development and production on southwestern Cambodia’s roughly 7,300sq km onshore Block VIII in the Kampong-Som Basin, the parent company reported on October 3.
BANGKOK: Thailand will hold talks with Cambodia over a 26,000 sq km overlapping claims area (OCA) estimated to hold up to 500 million barrels of oil and gas deposits under the seafloor.
Thailand will hold talks with Cambodia over a 26,000 sq km overlapping claims area (OCA) estimated to hold up to 500 million barrels of oil and gas deposits under the seafloor.