No oil for up to five years: Cambodian government
It will be years before oil starts to be produced by energy giant Chevron’s offshore site in the Gulf of Thailand, a senior Cambodian official said yesterday. Meng Saktheara, secretary of state at the Ministry of Mines and Energy, said that negotiations over taxation have continued to stall the approval of Chevron’s permit to extract, and though Saktheara is confident a resolution will be found soon, it could take “three to five years” for Cambodia to see its first drop of oil. … Steve Glick, former Chevron Cambodia country manager, told the Post in 2011 that the company had paid more than $160 million to assess the commercial viability of the offshore site, referred to as Block A. …
Daniel de Carteret
http://www.phnompenhpost.com/business/no-oil-five-years-cambodian-government
