$1M Project to Push Petroleum

A $1 million project designed to develop Cambodia’s nascent pet­roleum industry should help the country to lessen its reliance on logging, government officials said Thurs­day.

Industry Ministry Secretary of State Ith Praing said Thursday that Danida, a Danish government agency, and the Coor­d­ina­ting Committee For Coastal and Off­shore Geoscience Pro­gram in Southeast Asia, consisting of governments from around the re­gion, will fund the three-year program at the ministry.

Industry Ministry officials said the project will include training to improve technical and research skills for energy and economic planning, as well as setting up regulations to monitor oil companies drilling in Cambodia.

Gas and oil production could eventually be a valuable source of income for the cash-strapped Cambodian government.

“I believe if Cambodia can im­prove exploration and processing it will help the country’s development,” said Ith Praing. “It is the best choice to avoid cutting logs anymore.”

Large-scale drilling has not yet begun in Cambodia, although se­veral multinational firms have signed conditional licenses to drill in a disputed zone in the Gulf of Thailand. A Japanese oil company has surveyed the Tonle Sap and Mekong River basins but results have not come back yet.

During a meeting this week with a Danida representative, Second Prime Minister Hun Sen said the project should help cre­ate a natio­nal petroleum au­tho­rity to re­gulate the industry, according to a report in the Eve­ning News news­paper on Thurs­day.

Until now, an interministerial com­mittee has been overseeing the petroleum sector, but one in­dustry source said it was inadequate because it lacked ex­­­perts. The source said the Council of Ministers has been trying to set up a national regulatory body.

Men Den, vice director of the ministry’s petroleum department, said Cambodia needs more control over companies that want to invest in the sector.

“If we are not strong enough they will cheat us,” Men Den said.

 

Petroleum Project

By Kay Kimsong

loject should help to create a national petroleum authority to regulate the industry, according to a report in the Evening News newspaper on Thursday.

Until now, an inter-ministerial committee has been overseeing the petroleum sector, but one industry source said it was ineffectual because it lacked industry experts.             Men Den, vice director of the ministry’s petroleum department, said Cambodia needs more control over companies that want to invest in the sector. “If we are not strong enough they will cheat us,” he said.

Petroleum Project

By Kay Kimsong

the cambodia daily

 

A $1 million project designed to develop Cambodia’s nascent petroleum industry should help the country lessen its reliance on logging, government officials said Thursday.

Industry Ministry Secretary of State Ith Praing said Thursday that Danida, a Danish government agency, and the Coordinating Committee For Coastal and Offshore Geoscience Program in Southeast Asia, consisting of governments from around the region, will fund the three-year program at the ministry.

Industry Ministry officials said the project will include training to improve technical and research skills for energy and economic planning, as well as setting up regulations to monitor oil companies drilling in Cambodia.

Gas and oil production could eventually be a valuable source of income for the cash-strapped Cambodian government.

“I believe if Cambodia can improve exploration and processing it will help the country’s development,” said Ith Praing. “It is the best choice to avoid cutting logs anymore.”

Wide-scale drilling has not yet begun in Cambodia, although several multinational firms have signed conditional licenses to drill in a disputed zone in the Gulf of Thailand. A Japanese oil company has surveyed the Tonle Sap and Mekong River basins results have not come back yet.

During a meeting this week between Second Prime Minister Hun Sen and a representative from Danida, the premier said the project should help to create a national petroleum authority to regulate the industry, according to a report in the Evening News newspaper on Thursday.

Until now, an inter-ministerial committee has been overseeing the petroleum sector, but one industry source said it was ineffectual because it lacked industry experts. The source said the Council of Ministers has been trying to set up a national regulatory body.

Men Den, vice director of the ministry’s petroleum department, said Cambodia needs more control over companies that want to invest in the sector. “If we are not strong enough they will cheat us,” he said.

 

Petroleum Project

By Kay Kimsong

the cambodia daily

 

A $1 million project designed to develop Cambodia’s nascent petroleum industry should help the country lessen its reliance on logging, government officials said Thursday.

Industry Ministry Secretary of State Ith Praing said Thursday that Danida, a Danish government agency, and the Coordinating Committee For Coastal and Offshore Geoscience Program in Southeast Asia, consisting of governments from around the region, will fund the three-year program at the ministry.

Industry Ministry officials said the project will include training to improve technical and research skills for energy and economic planning, as well as setting up regulations to monitor oil companies drilling in Cambodia.

Gas and oil production could eventually be a valuable source of income for the cash-strapped Cambodian government.

“I believe if Cambodia can improve exploration and processing it will help the country’s development,” said Ith Praing. “It is the best choice to avoid cutting logs anymore.”

Wide-scale drilling has not yet begun in Cambodia, although several multinational firms have signed conditional licenses to drill in a disputed zone in the Gulf of Thailand. A Japanese oil company has surveyed the Tonle Sap and Mekong River basins results have not come back yet.

During a meeting this week between Second Prime Minister Hun Sen and a representative from Danida, the premier said the project should help to create a national petroleum authority to regulate the industry, according to a report in the Evening News newspaper on Thursday.

Until now, an inter-ministerial committee has been overseeing the petroleum sector, but one industry source said it was ineffectual because it lacked industry experts. The source said the Council of Ministers has been trying to set up a national regulatory body.

Men Den, vice director of the ministry’s petroleum department, said Cambodia needs more control over companies that want to invest in the sector. “If we are not strong enough they will cheat us,” he said.

 

etroleum Project

By Kay Kimsong

the cambodia daily

 

A $1 million project designed to develop Cambodia’s nascent petroleum industry should help the country lessen its reliance on logging, government officials said Thursday.

Industry Ministry Secretary of State Ith Praing said Thursday that Danida, a Danish government agency, and the Coordinating Committee For Coastal and Offshore Geoscience Program in Southeast Asia, consisting of governments from around the region, will fund the three-year program at the ministry.

Industry Ministry officials said the project will include training to improve technical and research skills for energy and economic planning, as well as setting up regulations to monitor oil companies drilling in Cambodia.

Gas and oil production could eventually be a valuable source of income for the cash-strapped Cambodian government.

“I believe if Cambodia can improve exploration and processing it will help the country’s development,” said Ith Praing. “It is the best choice to avoid cutting logs anymore.”

Wide-scale drilling has not yet begun in Cambodia, although several multinational firms have signed conditional licenses to drill in a disputed zone in the Gulf of Thailand. A Japanese oil company has surveyed the Tonle Sap and Mekong River basins results have not come back yet.

During a meeting this week between Second Prime Minister Hun Sen and a representative from Danida, the premier said the project should help to create a national petroleum authority to regulate the industry, according to a report in the Evening News newspaper on Thursday.

Until now, an inter-ministerial committee has been overseeing the petroleum sector, but one industry source said it was ineffectual because it lacked industry experts. The source said the Council of Ministers has been trying to set up a national regulatory body.

Men Den, vice director of the ministry’s petroleum department, said Cambodia needs more control over companies that want to invest in the sector. “If we are not strong enough they will cheat us,” he said.

 

 

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