Cambodian, Chinese firms unveil 1st oil refinery project in Cambodia

Cambodian Petrochemical Company and Sinomach China Perfect Machinery Industry Corp jointly announced on Friday to build the first oil refinery in Cambodia and the construction is expected to be completed at the end of 2015. Zhang Sugang, president of Sinomach China Perfect Machinery Industry Corp, said the oil refinery will cost 2.3 billion U.S. dollars and it will take 36 months to be constructed on the 80- hectare area within the boundary of Preah Sihanouk province and Kampot province. … “When the construction is completed, the plant will be capable to produce 5 million tons of oil a year,” he said after a signing ceremony here. The country’s seabed is believed to be rich in oil and gas, but exploitation is not made yet. … Sok An said that U.S.’ Chevron has invested about 150 million U. S. dollars for oil and gas exploration in Cambodia’s offshore Block A and it is estimated that the firm needs to invest another 600 million U.S. dollars to exploit oil and gas from the Block. …

http://news.xinhuanet.com/english/china/2012-12/28/c_132069193.htm