Three more oil firms seek Gulf of Thailand rights

PHNOM PENH, Sept 17 (Reuters) - Cambodia has received three more applications for oil exploration rights in a disputed area of the Gulf of Thailand, a government spokesman said on Thursday.

U.S giant Chevron and two Japanese firms, Inpec and Marubeni Oil and Gas, have submitted a bid for access to Block 4, following an application on Tuesday by Mitsui Oil Exploration Co, a unit of Japanese trading house Mitsui & Co Ltd., said Ieng Sophalleth.

Marubeni Oil and Gas is a subsidiary of Marubeni Corp, Japan's fifth-biggest trading company.

Chevron Corp is already operator of Block A in the Gulf of Thailand. Cambodia does not yet produce oil and is unlikely to do so before 2010 at the earliest. The deadline for submission is Oct. 7.

Cambodia's Commerce Minister, Cham Prasidh, said the rise in oil prices and high demand prompted the four companies to seek new opportunities in the Gulf of Thailand.

"They are looking for an opportunity to pump oil somewhere such as Cambodia, which has untapped resources of oil and gas," Prasidh told Reuters.

Cambodia's exploration area covers 37,000 square km (14,300 sq miles). Another 27,000 square km (10,400 sq miles) thought to be rich in oil and gas deposits is claimed by Thailand.

In February, Cambodia's Prime Minister, Hun Sen, pledged to avoid entering into a protracted dispute with historic foes Thailand over the offshore reserves and said international laws would be strictly adhered to.

(Reporting by Ek Madra; Editing by Martin Petty)

Mitsui seeks Gulf of Thailand rights from Cambodia

Wed Sep 16, 2009

PHNOM PENH, Sept 16 (Reuters) - Japanese oil and gas firm Mitsui Oil Exploration Co has applied to Cambodia for exploration rights in an area of the Gulf of Thailand claimed by both Cambodia and Thailand, officials said on Wednesday.

Cambodia's government spokesman, Ieng Sophalleth, said Mitsui's chairman, Yoshiyuki Kagawa, "assured the prime minister during a meeting on Tuesday that the company was determined to invest in block four" in the contested area.

"Prime Minister Hun Sen told the company's chairman that he welcomed all companies to join in the bidding process in a transparent way," Sophalleth told Reuters by phone.

Mitsui Oil Exploration Co is a unit of Japanese trading house Mitsui & Co Ltd.

Hang Chuon Naron, secretary general at the finance ministry, said the government would take some time before granting any concession.

"And Mitsui will have to talk with the Thai side at a later stage on the oil exploration and production," he told Reuters.

Cambodia's exploration area covers 37,000 square km (14,300 sq miles). Another 27,000 square km (10,400 sq miles) thought to be rich in oil and gas deposits is claimed by Thailand.

In February Hun Sen said, referring to the disputed area, that Cambodia's government would "adhere to principles of international law, the win-win policy and good neighbourliness in resolving various issues with all parties involved".

Cambodia does not yet produce oil. Chevron Corp is the operator of Block A in the Gulf of Thailand but is unlikely to produce oil before 2010 at the earliest.

(Reporting by Ek Madra; Editing by Alan Raybould)