A senior official at the Ministry of Mines and Energy said Mubadala Petroleum, one of the largest oil and gas companies in the UAE, is searching for investment opportunities in the Cambodian oil sector.
At a meeting on Wednesday with State Secretary Meng Saktheara, Mubadala Petroleum CEO Mazin al-Lamki expressed interest in investing in the oil sector in Cambodia.
Cheap Sour, general director of Petroleum, told The Post on Thursday that the ministry welcomed its involvement in offshore and onshore blocks with the company's expertise and experience.
"The firm is involved in Cambodia's investment opportunities, including exploration and production, as well as the establishment of oil refineries.
"We informed her about Cambodia's investment opportunities. For an exploration of kerosene, we have four offshore blocks left and 18 unoccupied onshore blocks. We are setting up a working group to further discuss future investment opportunities, "said Sour.
He said Cambodia had split areas with six offshore blocks and 19 onshore areas for the discovery of kerosene.
KrisEnergy, based in Singapore, is currently developing Block A of the Apsara oilfield over the Khmer Basin, an unmanufactured geological area in the Gulf of Thailand's Cambodian waters.
Sour said the ministry is expected to sign an oil agreement with Cambodian Resources Energy Development Co about the offshore Block D oilfield. It is also negotiating an oil agreement with Canadian company EnerCam Co for onshore Block VIII discovery.
"Block A is moving towards production, and we plan to sign an oil exploration agreement in Block D. Four offshore blocks are open to new investors like Mubadala," he said.
Given the potential of the Kingdom's fuel and mineral resources, Mazin said the company was interested in investing in the Cambodian oil sector.
"We will come over to carry out studies as soon as possible because there is an immediate need for investment in Cambodia's oil and gas sector," Agence Kampuchea Presse quoted.
Mubadala, the oil and gas company owned by the Abu Dhabi government, was established in 2012. The currently operates in 10 Middle East, North Africa and Southeast Asia nations.
Prime Minister Hun Sen reiterated on Monday that by the middle of next year, Cambodia will be extracting the first drop of oil from Block A of the Apsara oilfield.
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