Apsara Oil Driller KrisEnergy’s Wind-up Petition Hearing Set for July

• Sommana Yan
• 14 June 2021
• Uncategorized
• 2630 Views

KrisEnergy has announced that its wind-up petition hearing will be held on 12 July; meanwhile, the operation of its subsidiary KrisEnergy (Cambodia) is temporarily paused.

The hearing date was set after Singapore-based parent companyKrisEnergy filed a winding-up petition to the Grand Court of the Cayman Islands, requesting liquidation due to its inability to pay debt. (Read more and more)

Regarding this matter, Secretary of State at Ministry of Mines and Energy HE Meng Saktheara said that while waiting for court action and negotiations between the new investors and the Cambodian government, Block A’s oil operation in Cambodia will be on hold.

“The reason is that as KrisEnergy (Cambodia) loses all funding to continue its planned operation. Thus, the development will be temporarily suspended until there is a new mutually agreed settlement between the Cambodian government and the new investors, who have the right to access the asset following the court order,” he added.

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