Cambodia: Oil firm ready to push ahead with offshore drilling

• Aug 15, 2016

Cambodia: Oil firm ready to push ahead with offshore drilling

Monday, 15 August 2016 – Singapore-listed oil and gas firm KrisEnergy Ltd is moving closer to finalising its deal with the Cambodian government that will pave the way for extraction from the Block A offshore oil field once negotiations over a technical strategy and fiscal regime have been finalised.

?Final versions of a suite of transaction documents for the Cambodia Block A oil development are ready for signature and will be followed by the enactment of supporting legislation,? the company announced yesterday in its half-year financial statement.

It said a ?comprehensive review of the subsurface, facilities, schedule, cost, crude marketing and economics? had already been completed.

Tanya Pang, the company?s VP for investor relations and corporate communications, said KrisEnergy was looking to finalise the revised licence agreement ?as soon as possible?. She added that the agreement would come before Cambodia officially adopts its long-awaited petroleum law.?Read More?