Opinion

Cambodia’s oil dreams offer development, independence but risk corruption

On December 18 2020 Cambodian Prime Minister Hun Sen announced the country had extracted its first drop of oil from an offshore oil field known as Block A. The long-awaited milestone signals a significant shift for the country, which had aspired to extract oil since the deposits were first discovered 15 years ago.

As Hun Sen announced in a Facebook post, “The year 2021 is coming…and we have received a huge gift for our nation—the first oil production in our territory”.

In 2017, the Cambodian government entered into a joint venture with Singapore’s KrisEnergy to develop oil wells in the Aspara oil fields—an area known as block A, off the coast of Preah Sihanouk province. KrisEnergy currently holds a 95% stake in the block.

In full: https://www.aseantoday.com/2021/01/cambodias-oil-dreams-offer-development-independence-but-risk-corruption/

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