PM Hun Sen: Cambodia Oil Extraction Going Smoothly, Yet to Contribute to the Economy

• Samphors Sao
• 1 February 2021
• Local News
• 2011 Views

After a month of production, the Apsara oil station continues to operate smoothly, but the revenue earned from oil is not yet large enough to contribute to the economic recovery, according to PM Samdech Hun Sen on 01 February. (Read more)

Samdech Hun Sen said that Cambodia has been producing oil for 33 days since 29 December, extracting about 40,788 barrels in total or about 1,236 barrels per day.

“According to studies, we can extract between 7,000 and 7,500 barrels per day, so the amount today is relatively small, but a good step forward,” said Samdech Hun Sen.

“Therefore, the revenue earned from the oil cannot affect the economy yet in this first phase,” he added.

Before the initial production in December, the project was delayed several times. According to the contract, the first oil should have been extracted since June 2020, but due to the COVID-19 crisis, the government agreed to postpone the deadline to 31 October. (Read more)

After the company requested a further delay, the government issued an ultimatum that if no oil was extracted by December 2020, the state would consider suspending the company’s license or impose fines.

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