Phnom Penh, Oct 2, 2012 (Prensa Latina)
Cambodia will receive most of the income derived from a joint project to
exploit promising offshore oil reserves, official sources have
confirmed here.
Ek Tha, spokesman for the Cabinet Office said that in negotiations with Chevron, the government proposed reaping 70 to 80 percent of the benefit, because, "we are working for the interests of the people of Cambodia and the entire nation".
The extraction of crude oil will take place in a block located 157 kilometers from the Cambodian coast, near to Sihanoukville on the Gulf of Thailand, where the company conducted 18 test explorations before announcing a commercially viable discovery in 2010.
According to the source, Deputy Prime Minister Sok An expects the first oil to come to market within one or two years, but Chevron officials said that full scale production will not begin until 2016.
Regarding future income obtained by the country, the Director General of the Cambodian National Hydrocarbon Authority, Sok Khavan, stated that this depends on factors such as the price of oil as well as production costs and development.
Last month Cambodia and Thailand agreed to resume a memorandum of understanding agreed to a decade ago for exploiting the common waters of the Gulf, very rich in oil and gas.
sus/sa/cgm/mgt/hr Modificado el ( martes, 02 de octubre de 2012 )
Ek Tha, spokesman for the Cabinet Office said that in negotiations with Chevron, the government proposed reaping 70 to 80 percent of the benefit, because, "we are working for the interests of the people of Cambodia and the entire nation".
The extraction of crude oil will take place in a block located 157 kilometers from the Cambodian coast, near to Sihanoukville on the Gulf of Thailand, where the company conducted 18 test explorations before announcing a commercially viable discovery in 2010.
According to the source, Deputy Prime Minister Sok An expects the first oil to come to market within one or two years, but Chevron officials said that full scale production will not begin until 2016.
Regarding future income obtained by the country, the Director General of the Cambodian National Hydrocarbon Authority, Sok Khavan, stated that this depends on factors such as the price of oil as well as production costs and development.
Last month Cambodia and Thailand agreed to resume a memorandum of understanding agreed to a decade ago for exploiting the common waters of the Gulf, very rich in oil and gas.
sus/sa/cgm/mgt/hr Modificado el ( martes, 02 de octubre de 2012 )
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