Cambodia – Next Oil and Natural Gas Frontier?

U.S. and Japanese companies are interested in prospecting for oil and natural gas in Cambodia. According to Phai Siphan, state secretary and spokesman of the Council of Ministers Office, in the provinces of Preah Vihear, Siemreab, and Kampong Thom there are 17 oil blocs covering a total area of over 2,300 square miles undergoing seismic study, where around 6,000 boreholes, each 0.2 inches in diameter, are drilled to a depth of 20 to 65 feet. Phai noted that Japanese company JOGMEC (Japan Oil Gas, Metals Corporation) began prospecting for oil and natural gas in 1996, telling reporters, “On 4 May 2010, JOGMEC signed a basic memorandum with the Cambodian Petroleum National Authority on all 17 inland blocs of the Kingdom of Cambodia in the provinces of Kampong Thom, Siemreab, and Preah Vihear, to study and investigate oil data,” adding, “According to a statement by Samdech Prime Minister Hun Sen, on 12 December 2012, if there are no obstacles, we can hope to get the first drop of oil at 12 noon on December 2012. We don’t know what we’ll be facing in the days ahead. But we already knew our flexibility and our competence with U.S. oil company Chevron would make our dream become reality.” …

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