Friday, 3 April 2009

Cambodia Looks to Kuwait for Oil Exploration Experience

Xinhua News Agency Thursday, April 02, 2009

The Cambodian National Assembly (NA) has just approved a draft agreement with Kuwait, which can facilitate the kingdom to draw oil-exploring experience from this Arabic country, national media said on Thursday.

By approving the draft version of the Cambodian-Kuwaiti Economic and Technical Cooperation Agreement, NA allows the Cambodian government to have one more partner to participate in the exploration and development of the oil and natural gas resources of the kingdom, Chinese-language daily newspaper the Commercial News quoted parliamentarian Cheam Yeap as telling reporters at NA here on Wednesday.

"This is the goal that the government has pursued for years," he said.

Cambodia can copy and fully tap the experience of Kuwait, who, as one of the oil-producing giants in the world, has a long and successful history in the field of petroleum and natural gas exploration, management and development, he said.

"It will hugely benefit our future work in this sector," he added.

Details of the draft agreement have not been disclosed.

The off-coast area at the southwestern tip of Cambodia is believed to be rich in oil and natural gas.

Over 10 foreign developers have been exploring the resources there, but none of them has started up production yet.

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