Offshore Block A provides buzz to Cambodia’s petroleum industry

Recent events, triggered by Singapore-based KrisEnergy Ltd.’s acquisition of Chevron Corp.’s entire stake in Cambodia’s Block A in the Gulf of Thailand, may possibly end the stalemate to develop the country’s only oil discovery to date. The prospect has also rekindled hopes in Cambodia to develop its petroleum industry.

Despite being surrounded by petroleum producers in neighboring Thailand and Vietnam, Cambodia currently produces no oil or gas and is wholly dependent on costly imports to meet its domestic needs. Last year, the Southeast Asian kingdom consumed around 47,490 barrels a day of petroleum, according to the U.S. Energy Information Administration. …

Cheang Chee Yew