Cambodia Announces Game-Changing Crude Oil Extraction

Oil revenues will likely further entrench the power of Prime Minister Hun Sen and his Cambodian People’s Party.

Late last month, after years of delays and unfulfilled promises, Cambodia announced that it had finally begun extracting crude oil from fields in the Gulf of Thailand.

In 2017, the Cambodian government signed a joint venture with Singapore’s KrisEnergy to develop more than 3,000 square kilometers known as Block A, with production initially scheduled to begin in 2019.

On December 29, the day after the first drops of crude trickled from KrisEnergy’s offshore rigs, Prime Minister Hun Sen hailed the extraction as “a new achievement for Cambodia’s economy.” “The year 2021 is coming… and we have received a huge gift for our nation – the first oil production in our territory,” he wrote in a Facebook post.

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