Timeline of Missing 300,000-Barrel Crude Oil Case

• 6 September 2021
• Local News
• 2146 Views

The Cambodian government has publicly commented on the case of 300,000 barrels of crude oil stolen from Cambodian waters and has officially requested the Indonesian government to return the perpetrators and oil tanker, including nearly 300,000 barrels to Cambodia.

Here is the timeline of the case based on the Ministry of Mines and Energy’s three-page press release on 3 September:

-4 June 2021: Oil exaction operator in Apsara well KrisEnergy announced liquidity

-1 August 2021: Prime Minister Samdech Hun Sen announced the official collapse of oil production in Cambodia, stating that nearly 300,000 barrels of oil were secretly taken away from Cambodia.

-Ministry of Mines and Energy began an investigation and issued a red notice to Interpol asking for cooperation

-25 August 2021: Indonesia caught a tanker carrying approximately 300,000 barrels of oil named MT Strovolos.

-After investigation, the owner of MT Strovolos is not KrisEngery, but World Tankers Management—the company that KrisEngery hired for floating stage and offloading.

-18 June 2021: World Tankers Management (WTM) secretly ordered the ship to leave Cambodian waters, with the possible reason of a rental payment dispute with KrisEnergy.

-The issue between the two firms has nothing to do with the Cambodian government, says Ministry of Mines and Energy

-However, the departure of the vessel was undertaken without obtaining customs clearance or permission from the Cambodian authorities and in breach of Cambodian law, the ministry added

-WTM stated the reason for leaving that that the vessel had no realistic choice but to sail the vessel out of Cambodia waters to undergo a crew change and bunkering. At no time was the Ministry of Mines and Energy or Cambodian authorities contacted by the vessel owner or related parties.

– Ministry of Mines and Energy added that neither of these matters would excuse the removal of vessel and cargo of crude from Cambodian water in breach of Cambodia law.

-To date, Cambodia and Indonesia are still discussing the legal process to request the return of the missing oil while the Ministry of Mines and Energy will give further notice when the case ends.

-To date, KrisEnergy has not made any announcements regarding this issue.

It should be noted that KrisEnergy and the Government of Cambodia first came into the initial agreement over the production in August 2017 under a 95% – 5% share basis, of which the KrisEnergy Group holds 95%, and the government holds 5%.

• Energy and Environment