KrisEnergy Requests Additional Deadline Extension for First Cambodian Oil Production

KrisEnergy has once again asked the Cambodian government to postpone the oil production deadline in Block A of Apsara Project after the firm repeatedly delayed their works due to the COVID-19 outbreak, according to the firm’s report released on 11 November.

According to the report, the deadline for first oil production to be achieved (without financial penalties) was on 30 June 2020 but was later extended by the Cambodian government to 31 October 2020.

Meanwhile, the date after which serious consequences (financial or otherwise, including termination) will apply has been extended from 31 December 2020 to 30 April 2021.

With the pandemic and restrictive COVID-19 measures still affecting operations, the company has applied for a further extension of the 31 October 2020 deadline.

Despite the pandemic and restrictive COVID-19 measures still affecting operations, development activities have continued to progress with all major components of the Apsara Mini Phase 1A infrastructure in place at the field.

The further extension is being requested after the Royal Government of Cambodia had agreed to push back the deadline by four months to 31 October 2020.

Drilling of the first of five development wells, A-03D, commenced on 29 October 2020. Batch drilling of the top-hole section of the wells is underway.

The jacket and topsides for the MiniPlatform are installed and the Ingenium II production barge arrived at the field location in October.

Once drilling commences fully, the firm can produce up to 7,500 barrels per day from Apsara block.

- Video Advertisement -

Related Post

ADB Commits USD 400 Million Large-Scale Financing for Clean Water and Sanitation in Cambodia by 2025

The Asian Development Bank (ADB) has pledged a transformative USD 400 million Large-Scale Financing (MFF) project to advance clean water and sanitation infrastructure across Cambodia, targeting approval by the end of 2025. This announcement follows the success of an ongoing USD 119 million Provincial Water Supply and Sanitation Project currently active in the provinces of […]

China’s Sailun Group to Launch $110 Million SEZ in Kampot Province

Chinese tyre manufacturing giant Sailun Group has announced plans to develop an industrial park named the “Cambodia Kampot Special Economic Zone Project” (Kampot SEZ) in Cambodia, backed by an impressive $110 million investment. The new venture will be managed by a wholly-owned subsidiary, Kampot Bay Investment Co., Ltd., established specifically to implement the Kampot SEZ […]

Cambodia’s Construction Investments Struggle to Recover as 2024 Sees Significant Drop

Cambodia’s construction sector continues to face a challenging period, with approved investment projects in 2024 falling to about 2,190, valued at under $4 billion, a stark contrast to the nearly 4,841 projects worth approximately $12 billion in 2020. The latest report from the Ministry of Land Management and Urban Planning, presented by CBRE Research on […]

USAID Grants USD 55 Million to Cambodia, Prioritizing Food Security, Health, and Environment

The United States, through the United States Agency for International Development (USAID), has allocated over USD 55 million to strengthen Cambodia’s food security, environmental conservation, civil society, health, investment landscape, and demining efforts. This major funding package was detailed in a press release from USAID on 22 and 23 October 2024. Ms. Samantha Power, Director […]

PM Celebrates Inauguration of USD 62 Million Dam Rehabilitation Projects in Mondulkiri

Three major dam rehabilitation projects in Mondulkiri, the Otethipadi, Sen Sokdom, and Sen Monorom dams, have officially been inaugurated, representing a USD 62 million investment aimed at transforming the province’s water infrastructure. The inauguration ceremony, presided over by PM Hun Manet, marked a significant step towards improving local livelihoods, with the projects set to supply […]

Bokor Mountain Cable Car Project Under Study by Sokimex, Doppelmayr, and Confluences

Sokimex Investment Group (SIG) has granted permission for Doppelmayr and Confluences to explore the feasibility of a cable car system on Bokor Mountain in Kampot Province, aiming to boost tourism and economic growth. This announcement was shared on the official Facebook page of SIG on 21 October 2024, confirming the companies’ involvement in assessing the […]