Monday, 20 July 2009

Cambodia set to award Total oil exploration rights

Reuters - Monday, July 20

PHNOM PENH, July 20 - Cambodia's government is drawing up an agreement to give France's Total rights to look for oil in its offshore block 3 in the Gulf of Thailand, officials said on Monday.

A provisional agreement was reached last week when Prime Minister Hun Sen was in Paris.

"Hun Sen told the French prime minister that Cambodia had decided to award block 3 to the French company, Total, for oil drilling after lengthy consideration," Prak Sokhon, a senior government official who was in the delegation, told reporters.

Te Duong Tara, director general of the Cambodian National Petroleum Authority , told Reuters: "We are still working on the details before an official announcement is made."

Cambodia does not yet produce oil. Chevron Corp is the operator of Block A in the Gulf of Thailand but is unlikely to produce oil before 2010 at the earliest.

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