Cambodia’s petrol product demand to reach 4.8 million tonnes by 2030

Minister of Mines and Energy, Suy Sem, said that the demand for petroleum products in Cambodia will increase to 4.8 million tons by 2030 and investments must increase to meet the demand.

Minister Sem made the remarks during the opening of the Oil, Gas and Power Cambodia 2022 expo co-organized by Gas Academy Pte. Ltd and the Ministry of Mines and Energy.

According to a study by the Economic Research Institute for Southeast Asia and East Asia (ERIA), demand for petroleum products in Cambodia will increase from 2.8 million tonnes in 2020 to 4.8 million tonnes by 2030 and continue to increase to 8.3 million tons in 2040. More investment is required in the sector to meet demands.

The Minister stated that the government the private sector, both national and international, to focus on exploration, import, storage, transportation and distribution of petroleum and petroleum products to secure supply of oil and gas for consumers and development of other sectors.

Minister Sem added that Cambodia has had geological studies conducted by international oil companies such as Elf, Esso, Enterprise Oil, PTT, Premier Oil, Chevron, PVEP, JOGMEC and MOECO. He said that Cambodia has now discovered commercial oil resources in the Cambodian waters in Block A, which is commercially viable and received the first drop of Cambodia’s oil on December 29, 2020.