Cambodia dreams of an oil gushing bonanza

Singapore’s KrisEnergy will soon start nation’s first offshore extraction but some feel the Apsara project’s prospects are being over-pumped.

Amid electricity cuts, parched hydropower dams and millions of dollars of blackout-related economic losses, a bright spot could be emerging on Cambodia’s energy front.

After nearly two decades of false starts, Cambodia has announced it will begin to extract oil for the first time later this year, representing a potential rich new source of energy and revenue.

Extraction is expected to begin by the end of this year from the so-called “Apsara” oil field, situated in a 5,000 square kilometer area of the Gulf of Thailand known as Block A.

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