Vong Sokheng
The Phnom Penh Post
Cambodia and Thailand yesterday reiterated their commitment to restart negotiations over an expansive and resource-rich section of the Gulf of Thailand known as the Overlapping Claims Area – but the two countries have yet to set a date for the talks.
An official at the Cambodian National Petroleum Authority, who asked not to be named as he was not authorised to speak to the media, told the Post yesterday that the chairman of the authority welcomes a new phase of negotiations based on a stalled agreement.
In 2001, officials from both nations signed a Memorandum of Understanding regarding the joint development of the 26,000-kilometre area, believed to be rich in oil and gas.
The potential for a windfall is tantalising for both countries, not to mention the companies holding concessions for the extraction, which won’t start until 2016.