Cambodia’s oil dream dealt blow as driller files for liquidation

KrisEnergy derailed by debt and disappointing output at Apsara field.

The company operating Cambodia’s only active oil field has collapsed under its debt, dealing a blow to the country’s hopes of becoming a significant oil producer.

In an announcement on Friday, Singapore-listed KrisEnergy said it was unable to pay its debts and “will proceed to liquidation.”

KrisEnergy in December celebrated pumping the Southeast Asian country’s first oil from the Apsara field, an offshore concession also known as Block A.

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