.jpg)
Officials say Cambodia has much more to do to prepare for the oil—and the revenue it would bring—including laws on taxation and regulation.
26 October 2012
Suy Heimkhemra, VOA Khmer
PHNOM PENH - Cambodia has postponed its oil production predictions by four years, backing away for the first time from its claims that oil would begin flowing by this year.
Cambodia is working with a number of multinational and national companies, including Chevron, to develop offshore blocks of oil.
The International Monetary Fund estimates Cambodia has some 500 million barrels of oil in offshore blocs in the Gulf of Thailand.
Officials say Cambodia has much more to do to prepare for the oil—and the revenue it would bring—including laws on taxation and regulation.
“And we also need to work with Chevron before we can get a final investment decision from the company,” said Men Den, director of operations for the Cambodia National Petroleum Authority.
Alex Yelland, spokesman for Chevron said the company was working with Cambodia to reach “a final investment decision at the earliest possible date.”
Advocates for proper use of natural resources welcomed the delay.
“The time can allow Cambodia to work on oil and gas transparency,” said Mam Sambath, head of Cambodians for Resource Revenue Transparency.
1 comment:
THat is untrue because The company is aready drilled and pumped oil from Thailand side so why do the company need to spend money drill and pump the oil from Cambodia side if it is share the same source. That is Thai policies to suck more oil and make trillion dollars before Thai allow the oil company suck oil for Cambodia and plus the oil companies don't want to spend extrac money just to build on the Cambodia side because in their view it is just the same well of oil so why spend extra just for Khmer to be rich while they kiss ass thai side.
Post a Comment