Drafting of Petroleum Law Being Accelerated

Cambodia is accelerating the drafting of petroleum law as the country is expecting the first extracted drop either between 2019 and 2020.

Ministries of Mines and Energy (MME) and of Environment tasked to draft the law met recently here in Phnom Penh to review its contents under the chairmanship of H.E. Suy Sem, Minister of MME, and H.E. Eang Sophalleth, Secretary of State for Environment.

Aiming to effectively manage the new source of Cambodia's mineral toward further economy growth, the draft law, as it now stands, entails 73 articles under nine chapters.

The Royal Government of Cambodia last year signed an agreement with Singapore-based energy company KrisEnergy Group for offshore oil field development in Block A which encompasses 3,083 square kilometres over the Khmer Basin in the Gulf of Thailand where water depths range between 50 metres and 80 metres.

Source: Agency Kampuchea Press