Cambodian PM Explains Allotment of Expected Oil and Gas Income
AKP Phnom Penh, September 11, 2019 –
Cambodian Prime Minister Samdech Akka Moha Sena Padei Techo Hun Sen has informed the public about the allotment of expected income from the Kingdom’s oil and gas.
The highlight was shared by H.E. Phay Siphan, Minister Attached to the Prime Minister and Chairman of Royal Government Spokesperson Unit following the weekly meeting of the Council of Ministers this morning.
Addressing his cabinet meeting this morning, reported H.E. Phay Siphan, Samdech Techo Hun Sen underlined that the income from oil and gas will be spent on infrastructure development because the facility is key to Cambodia’s economic growth.
Last year, KrisEnergy – the subsidiary company of SJ Production Barge Ltd. – that is exploring the oil and gas in the Block A of Cambodia's offshore announced that the Kingdom will get its first oil in the third quarter of 2019.
The production barge, it continued, will be capable of processing up to 30,000 barrels of fluid per day.
While expecting the income from the new energy, the Royal Government of Cambodia has already prepared the law on oil and oil production management through a comprehensive consultation process with different stakeholders.
The law, consisting nine chapters and 72 articles, intends to ensure transparency and effective management of the energy source to sustain the development of Cambodia.
By Khan Sophirom