New chapter in search for black gold

18 August 2014
Domestic investors / Economy and commerce / Extractive Industries / Extractive industries policy and administration / Foreign investors / Government / International relations / Investment / Off-shore oil and gas exploration and extraction / Oil and gas resources
Block 17 / Block A / Cambodian National Petroleum Authority / Chevron (Cambodia) Limited / CNPA / Japan Oil Gas and Metals National Corporatio / JOGMEC / Krisenergy Holding Company / Ministry of Mines and Energy / Richard Lorentz

As Chevron hands over its controlling stake in the Kingdom’s most developed oil field to a new player, industry experts say extraction may still take time

Industry insiders urged patience this week after news broke that energy giant Chevron had sold its controlling stake in the Kingdom’s most developed oil field to Singaporean firm KrisEnergy.

Hopes are now pegged on KrisEnergy to bring about a windfall it is hoped will reduce the nation’s dependency on energy imports and bring much-needed state revenues.

But there is still a long way to go, according to experts, who say that while long-awaited reforms to clean up the industry could yield progress, extraction may still be far off. …

 Daniel de Carteret
http://www.phnompenhpost.com/post-weekend/new-chapter-search-black-gold