Saturday, 29 March 2008

Cambodia willing to resume oil talks with Thailand

ABC Radio Australia

Cambodia says it is willing to resume stalled talks with Thailand on how to divide up offshore energy resources along their disputed sea border.

Overlapping claims to undersea oil and natural gas fields in the Gulf of Thailand has kept both countries from tapping into potentially rich reserves.

Negotiations opened in 1995 but all attempts to reach a formal agreement failed, with the last round of talks held in 2006.

Now the director-general,of Cambodia's National Petroleum Authority says talks could resume as early as next month.

Te Duong Tara says Cambodia is seeking a 50-50 split of the disputed area, while Thailand wants a larger share of the fields.

Cambodia expects to begin oil production in its own offshore fields in 2011.

Oil was discovered in Cambodia in 2005 by the US energy giant Chevron.

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