Yuanta Reports

Govt begins preliminary negation with private firm for Block D exploration

The government is now in the preliminary negotiation stage with Cambodian Resource Energy Development Co Ltd for an exploration of Block D in the Gulf of Thailand, according to a government spokesman. The Cambodian Resource Energy Development Co. Ltd was registered with the Ministry of Commerce in April last year, according to the ministry’s website and is backed by a China-based oil exploration company and a Canadian partner. Block D is a 5,500-square-kilometer zone in the Gulf of Thailand that was previously licensed to Cambodian firm CPHL (Cambodia). The government revoked that exploration license in May 2016 after the company failed to meet the terms of the agreement. (Source: Phnom Penh Post)

Economy & Industry

09th March 2018

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