A senior official with the Ministry of Mines and Energy confirmed yesterday that Canadian firm Angkor Gold Corp is seeking to diversify its operations in the Kingdom into oil and gas and that the company is now applying for exploration licenses.
Earlier this month, the company issued a statement announcing that they are in talks with Cambodian authorities regarding oil and gas concessions and available licenses.
Cheap Sour, director-general of the general department of petroleum, told Khmer Times that the company has met with ministry officials on the issue.
“They already came to the ministry to meet us and request an application form to apply for a license for oil and gas operations,” Mr Sour said. “The company wanted to learn more about the application process. They are interested in onshore blocks.”
Mr Sour said the company did not reveal details of their plans like the exact onshore block that they are considering or the size of the potential investment.
Cambodia has traditionally been viewed primarily as a country with mining and mineral resource opportunities. However, sizeable oil and gas reserves have been developed on three sides of the country – in the Gulf of Thailand to the west, the Khorat Plateau of Thailand to the north, and in the Vietnamese Cuu Long Basin of the South China Sea to the south, the company said in the press release.
“We are very excited about the possibility of adding oil and gas prospects to Angkor’s portfolio of exploration properties,” said Angkor Gold CEO Stephen Burega.
“Cambodia continues to offer exceptional opportunities as an underexplored region and Angkor is well-placed to lead the way in new discoveries.”
Angkor Gold continues to explore and develop its five exploration licenses in the Kingdom of Cambodia that cover approximately 983 square kilometres with the support of the Cambodian government, local communities and exploration funding partners.
Cambodia will be ready to commercially produce oil in early 2020. The first drop of oil will be extracted by KrisEnergy, a Singapore-based oil and gas firm, from the Apsara oil field, which is located in Block A of the Khmer Basin in the Gulf of Thailand.