Cambodia pumps its first oil in win for embattled KrisEnergy

Singaporean company hails 'historic' milestone but debt issues loom.

Singaporean-listed KrisEnergy has pumped the first drops of oil from a commercial well in Cambodia, marking a major milestone in the country’s more than two decade quest to produce petroleum.

The development, announced on Tuesday, also provides some positive news for the company as it tries to restructure debts of more than $500 million while under court protection from creditors.

In a statement, KrisEnergy said oil had started flowing on Monday from a development well in the Apsara oilfield some 160km off Cambodia’s coast in the Gulf of Thailand.

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