SINGAPORE (Aug 23): The Royal Government of Cambodia and KrisEnergy today jointly announced the signing of fiscal and technical agreements for the nation’s first oil field development in Cambodia Block A in the Gulf of Thailand.

Since 2014, KrisEnergy has been the operator of the Cambodia Block A. The group plans to develop the Apsara area, which is one of seven geological trends in the license where there is potential for oil and/or gas trapped.

According to the agreement, KrisEnergy has 60 days to finalise its decision and thereby formally launching the Apsara project, which is expected to take up to 24 months to produce first oil.

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