Cambodian Leader Acknowledges Oil Production ‘Failure’

The government’s Singaporean partner filed for liquidation in June, six months after offshore production started.

Cambodia’s Prime Minister Hun Sen has admitted that his country’s attempt at oil extraction has failed, just eight months after the first drops of crude oil trickled from an offshore drilling platform operated by Singapore’s KrisEnergy.

Late last year, Hun Sen announced that Cambodia had fulfilled its long-cherished goal of extracting oil from its waters in the Gulf of Thailand. But in early June, KrisEnergy filed for liquidation, claiming that it was overburdened with debt.

“On December 29, we announced the first drop of oil – perhaps now it is a failure,” Hun Sen said in a speech Sunday, according to AFP.

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