Thai Company OLS Seeks Investment in Cambodian-Thai Overlapping Areas for Oil and Gas Exploration

• 22 March 2023
• Local News
• 1524 Views

Thai company Onshore Logistics Services Co., Ltd (OLS) is seeking to invest in oil and gas exploration in the overlapping area (OCA) between Cambodia and Thailand. According to a meeting between Mr Thuch Dalin, General Advisor of the Embassy of Cambodia in Thailand, and Mr Phakin Pataradittakul, Director General, on 17 March 2023.

The company presented its Multi-Client Seismic 3D Survey (MC3D) oil and gas development investment project in the OCA. The General Adviser requested the CEO of OLS to submit an official investment application to the Cambodian authorities through the Cambodian Embassy in Thailand.

The OCA covers an estimated 26,000 square kilometers and is believed to hold up to 500 million barrels of oil and gas under the seabed. Cambodian and Thai officials have been working together to reach an agreement on the issue of overlapping marine areas, with discussions being expedited in order to advance this significant oil and gas exploration opportunity.

This investment by OLS has the potential to significantly impact Cambodia’s and Thailand’s economies and create opportunities for local businesses and workers.

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• Energy and Environment