The U.S. oil giant Chevron has finished its exploration at offshore Cambodia and will start oil and gas production in 2008, local media said on Sunday.
Chevron has transferred its exploration equipment from Cambodia 's seaport city Sihanoukville to its working site and now plans to import new equipment through the port for oil and gas production, the Chinese language newspaper Sin Chew Daily quoted a municipal government official as saying.
"Senior Chevron staff members told me by phone that the exploration is completed and the rigs will start working to produce oil and gas next year," said Lou Kim Chhun, whose capacity in the government remained unclear.
Meanwhile, the Cambodian Natural Gas and Petroleum Agency confirmed that it imposes no control on Chevron's activities in Cambodia.
Chevron, together with LG from South Korea and a Japanese company, is allowed by the Cambodian government to invest and conduct exploration at its western sea shore.
At least 700 million barrels of crude oil are estimated to lie off the coast and the Cambodian government is now preparing an oil and gas management law in anticipation of oil and gas revenues starting from 2009 or 2010.
Source: Xinhua
Chevron has transferred its exploration equipment from Cambodia 's seaport city Sihanoukville to its working site and now plans to import new equipment through the port for oil and gas production, the Chinese language newspaper Sin Chew Daily quoted a municipal government official as saying.
"Senior Chevron staff members told me by phone that the exploration is completed and the rigs will start working to produce oil and gas next year," said Lou Kim Chhun, whose capacity in the government remained unclear.
Meanwhile, the Cambodian Natural Gas and Petroleum Agency confirmed that it imposes no control on Chevron's activities in Cambodia.
Chevron, together with LG from South Korea and a Japanese company, is allowed by the Cambodian government to invest and conduct exploration at its western sea shore.
At least 700 million barrels of crude oil are estimated to lie off the coast and the Cambodian government is now preparing an oil and gas management law in anticipation of oil and gas revenues starting from 2009 or 2010.
Source: Xinhua
10 comments:
Excellent news, and great work by
Chevron and the government to
experdite the wealth to rebuilt
our country.
Right of the bat, we need to keep
Ah Hungry Sam Nazi from sucking up
the oil revenue for his own
benefit. Once we are safe, we can
used the fund to accelerate our
"Rectangular Strategy". I would
favor on getting the rural
development up to speed, so that
we can reduce some of the trade
deficit that we have had. As a
consequence, this should also
reduce jobs deficit that we have
been having also. And let us not
forget to help our law enforcement
officers and ministry of Justice
to fight corruption so that we'll
continue to attract more and more
bussinesses... .
Good luck to all!!!
Long Live Kampuchea!!!
If the govt does not use the oil revenue properly or use it for their own benefit, this govt will be melt down. The word of god
I am very skeptical about your government money handling and the secrecy about it.
What else is new? people lives is
the west is always skeptical of
everyone except for drug dealers
and gangs.
Please beware of the black gold curse for which there is no turning back until the whole Cambodia burns in a sea of fire!!!
Cambodia still have plenty of weapons left over and the rivalry between Cambodian factions will soon take root !!! I just want a small share of the black gold and I will do anything to get it!!!
Even so, the weapon is no match for
the new design series. Therefore,
it is nothing worth getting excited
about.
Now that exploration is over, will the CPP tell us the quantity of oil and gas found? Or this numbers is kept as secret so the CPP can take some of the oil money to put in the Swiss bank account?
To 1:43PM!
Hey fool! What is the different between the old design series bullets and the new design series bullets? In case you didn't know they both can kill your stupid head the same way!!!ahahahahhaha!
True, but only for close range
combat. However, for long range
combat, the new weapon has an edge
ove the old one, in term of
accuracy. The new weapon is design
with CAD (Computer Assist Design)
system and fine tuned in the final
stage to deadly accuracy.
Hence, if you have an Old tech, I
wont let you get close to me.
Instead, I will fight you from a
distance, and you can't touch me,
but I can take out your eyeball out
of your socket, hehehe.
To 3:53PM!
Duh! In any war there is an element of surprise! Whether you have long range or short range weapon doesn't really matter! The goal of any war is to win the enemy by sneaking behind the enemy line and just shoot their butts! ahhahahahhahahaha!
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