PATHUM THANI, Nov 9 (TNA) – The Memorandum of Understanding (MoU) on overlapping Thai and Cambodian maritime claims if revoked will not affect Thailand’s energy security, according to PTT, Thailand's largest energy conglomerate, and the energy ministry.
The Ministry of Foreign Affairs will propose to the Cabinet on Tuesday to consider revoking the MoU signed by Thailand and Cambodia in 2001.
It will not directly impact PTT as the companies granted concessions both through Thailand and Cambodia to foreign companies from the United States, Europe, Japan and Australia, PTT president and chief executive Prasert Bunsumpun said.
However, cancellation of the MoU will delay petroleum development, he said.
PTT has little business in Cambodia, Mr Prasert said. Most are gas stations and three small oil storage facilities and all of its businesses operate as usual with normal transportation through border checkpoints which remained open.
He conceded, however, that if borders are sealed, it will affect oil transport.
Most PTT employees in Cambodia are Khmer, but the company has not yet recalled Thai workers, the PTT executive said.
Meanwhile, Thai energy minister Wannarat Channukul said the MoU if revoked will not affect the country’s energy security as PTT Exploration and Production (PTTEP) has invested in petroleum survey and production in 13 countries.
The PTTEP can conduct petroleum operations outside the overlapping areas, which have not yet been granted concession.
The current diplomatic row between Thailand and Cambodia stemmed from Prime Minister Hun Sen announcing the appointment of ousted Thai prime minister Thaksin Shinawatra as an economic adviser to Cambodian government.
Mr Thaksin was ousted in a 2006 coup and now lives abroad to avoid a two-year jail term for violating Thailand’s conflict of interest law.
Both countries have recalled their ambassadors, and Thai foreign affairs Minister Kasit Piromya said earlier he would ask the Cabinet to consider revoking the memorandum of understanding (MoU) between the two countries dealing with overlapping maritime boundaries in the Gulf of Thailand. (TNA)
The Ministry of Foreign Affairs will propose to the Cabinet on Tuesday to consider revoking the MoU signed by Thailand and Cambodia in 2001.
It will not directly impact PTT as the companies granted concessions both through Thailand and Cambodia to foreign companies from the United States, Europe, Japan and Australia, PTT president and chief executive Prasert Bunsumpun said.
However, cancellation of the MoU will delay petroleum development, he said.
PTT has little business in Cambodia, Mr Prasert said. Most are gas stations and three small oil storage facilities and all of its businesses operate as usual with normal transportation through border checkpoints which remained open.
He conceded, however, that if borders are sealed, it will affect oil transport.
Most PTT employees in Cambodia are Khmer, but the company has not yet recalled Thai workers, the PTT executive said.
Meanwhile, Thai energy minister Wannarat Channukul said the MoU if revoked will not affect the country’s energy security as PTT Exploration and Production (PTTEP) has invested in petroleum survey and production in 13 countries.
The PTTEP can conduct petroleum operations outside the overlapping areas, which have not yet been granted concession.
The current diplomatic row between Thailand and Cambodia stemmed from Prime Minister Hun Sen announcing the appointment of ousted Thai prime minister Thaksin Shinawatra as an economic adviser to Cambodian government.
Mr Thaksin was ousted in a 2006 coup and now lives abroad to avoid a two-year jail term for violating Thailand’s conflict of interest law.
Both countries have recalled their ambassadors, and Thai foreign affairs Minister Kasit Piromya said earlier he would ask the Cabinet to consider revoking the memorandum of understanding (MoU) between the two countries dealing with overlapping maritime boundaries in the Gulf of Thailand. (TNA)
1 comment:
It's already hard to negotiate on the Preah Vihear's issue since the Abhasit's government was just established.
there are some other area that we can get oil that is not related to the overlapping areas.
Don't expect that we cannot get revenue from the oil.
Thus, we don't hope that we can solve the overlapping area as Thailand or Thai King just want to get benefit from Cambodia without embarassment.
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