A new set of international companies are optimistic about Cambodia’s nascent oil and gas industry, but they are investing in an extractive business that has proven costly and yielded only delays, not yet profit.
The Canadian-listed gold mining company Angkor Gold announced this year that it would start exploring oil and gas blocks onshore in Cambodia, expanding out from its gold and copper endeavors which have yet to deliver any profit for the company. Angkor Gold would not disclose any details on which location they may choose to explore, but their website explains the company is negotiating with the government for 7,000 square kilometers, with particular interest in the Kampong Som basin, an area southwest of Phnom Penh where thermal conditions indicate a possibility for oil or dry gas.
© 2019, The Cambodia Daily. All rights reserved No part of this article may be reproduced in print, electronically, broadcast, rewritten or redistributed without written permission.