Cambodia stops offshore oil extraction after KrisEnergy goes bankrupt: PM

Cambodian Prime Minister Samdech Techo Hun Sen said on Sunday that the kingdom’s first-ever oil extraction had come to a full stop after Singapore-based oil and gas firm KrisEnergy had filed for liquidation.

KrisEnergy started pumping crude oil from one of Cambodia’s offshore oilfields, Block A, in late 2020, which was the first crude oil production in the Southeast Asian nation.

However, the firm went into liquidation in June after production at the oil field failed to meet expectations, leaving it unable to repay its debts.

In full: http://www.xinhuanet.com/english/asiapacific/2021-08/01/c_1310101136.htm

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