Philippine Company Eyes Cambodia’s Oil

The government-run Philippine National Oil Co expects to sign an agreement with the Cambodian National Petroleum Authority within the next month to conduct gas and oil exploration on Cam­bodian territory, according to a Dow Jones financial wire service report.

Thelmo Cunanan, the president of the of the PNOC and a former ambassador to Cambodia, told the wire service that the project would be jointly run with the Cambodian government.

Cambodian and Filipino officials discussed the project earlier this month in Phnom Penh, according to Philippines’ Em­bassy official Norman Gariban. Cunanan and other Filipino businessmen accompanied the speaker of the Philippines House of Representatives, Jose de Venecia Jr, during his three-day visit.

Gariban and Ho Vichet, deputy director of the CNPA, said they did not know if a deal has been finalized.

CNPA Director Te Duong Tara was traveling outside the country Tuesday and could not be reached for comment.

Gariban said the talks in Phnom Penh were preliminary. He said he did not know if exploration would take place inland or in the Gulf of Thailand, where Cambodia is also attempting to resolve an exploration rights dispute with Thailand.


Related Stories

Latest News