Offshore Block D oilfield agreement signed

• Sommana Yan
• 14 February 2020
• Uncategorized
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The Ministry of Mines and Energy has signed an offshore Block D oilfield agreement with Cambodia Resources Energy Development Co.
The oil agreement was agreed in December last year and the company is scheduled to start exploration for oil in the Block D in 2020, according to H.E. Cheap Sour, Director-General of
Petroleum at Ministry of Mines and Energy.
The agreement signing allows the company to start conducting search and study in the oilfield, H.E. Cheap Sour said.
Block D is an offshore concession spanning 5,500 square kilometres lying over the Khmer basin, an area in Cambodian waters in the Gulf of Thailand.

“The oil agreement has a period of 30 years and the exploration has 7 years and can be extended to 10 years. If the company finds oil potential, the company can continue production to 30 years,” H.E. Chea Sour said.

This is the second petroleum agreement signed so far. The first, Block A, was developed by Singapore-based KrisEnergy, which is scheduled to drill the first oil in the first quarter of this year. (Read More)

A new petroleum agreement on onshore Block VIII is under discussion, according to the ministry

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