Cambodian PM Confirms Two Potential Mineral Resources

Cambodian Prime Minister Samdech Akka Moha Sena Padei Techo Hun Sen re-affirmed here this morning about two potential mineral resources for further development of the country.

At the graduation ceremony of almost 2,000 students of the Human Resource University, Samdech Techo Hun Sen reminded about the presence of oil and gold resources in Cambodia.

"We do not want to announce when we will receive our first drop of oil, for fear of uncertainty, but according to the Ministry of Mines and Energy, we will get it in 2020. Our oil resources is tremendous. [], underlined the Premier. Our gold resources could also be exploited in the future by an Australian company.

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.

For gold, different local and foreign companies have been licensed by the Ministry of Mines and Energy to explore the resource, including companies from Australia, but no gold exploitation license has not been granted yet.

Source: Agency Kampuchea Press