Page 19 - Oil&Gas-AustralAsia-2015-Issue-1
P. 19
C AMBODIA
Cambodian government
considers national oil company
By Marie RYAN
Cambodia’s Ministry of Mines and According to Saktheara, the energy “If the government has their own oil
Energy announced its plans to develop and finance ministries are still looking or state enterprise it will be better for
a national oil company in March with a into whether the national oil company Cambodians since the government can
ministry spokesman stating it had been would be involved in oil and gas ex- control the price on their own,” Mr
working with the Finance Ministry ploration, the import of petroleum for Mialia said.
to assess the risks of setting up an oil reserves, or both. Cambodia’s Commerce Ministry has
company that is owned and operated by “At the moment, we don’t know - that called regular meetings in recent
the government. is still a question to be discussed and months to encourage gas companies
The Mines and Energy head Meng Sak- assessed.” in the country to adjust their prices to
theara, who is also a secretary of state Cambodian Prime Minister Hun Sen reflect global oil prices, although some
said the government has been studying asked at the beginning of the year for firms are reportedly moving slower
the possibility of whether a company the Finance Ministry to import more than others to comply.
should be established or not. petroleum for the county’s stockpiles as Local NGO Cambodians for Resource
“If established, the state-owned petro- oil prices continue to fall globally. Revenue Transparency said establishing
leum company would play the role of a Saktheara said the decision to begin a national oil company for exploration
body that invests money in the oil and considering a national oil company was purposes would only be prudent if
gas industry and would engage in joint not in response to the Prime Minister’s Cambodia had a large industry.
ventures with foreign companies,” Mr speech. Cambodians for Resource Revenue
Saktheara said. “We have not consulted with Prime Transparency executive director Kim
“We share all the risk…and we share Minister Hun Sen yet,” he said, adding Natacha said so far, we don’t have
the profit,” he said of the proposal, that the ministry had been doing re- enough information to see if we can
stressing that if the government did search into starting the company since justify the establishment of a state oil
decide to establish its own oil company, December. company.”
then its functions must be laid out in Marketing division manager of PTT “The exploration started pretty recent-
a petroleum law which his ministry is (Cambodia) Ltd, a subsidiary of ly and that information has not been
currently drafting. Thailand’s state-owned PTT Public disclosed publicly for analysis,” Ms
“The new draft petroleum law would Company Limited Bin Many Mialia Natacha said.
also stipulate the role and responsibility said importing petroleum in order to So far the country’s most significant
of the state-owned petroleum compa- boost Cambodia’s stores would benefit offshore oil reserves are in Block A, a
ny,” he said. both the government and those in the 4,790 square kilometre area off the coast
industry. of Sihanoukville believed to hold as
much as 10,000 barrels per day. Howev-
er it should be noted Chevron worked
for over a decade in Block A and failed
to produce a commercial oil well.
Last year Singapore’s KrisEnergy
purchased Chevron’s 30 per cent share
bringing its total share to 52.25 per
cent, the Cambodian government holds
a 5 percent stake in the block. §
A Awww.oilandgasaustralasia.com MARCH/APRIL 2015 OIL & GAS ustral SIA 17
Cambodian government
considers national oil company
By Marie RYAN
Cambodia’s Ministry of Mines and According to Saktheara, the energy “If the government has their own oil
Energy announced its plans to develop and finance ministries are still looking or state enterprise it will be better for
a national oil company in March with a into whether the national oil company Cambodians since the government can
ministry spokesman stating it had been would be involved in oil and gas ex- control the price on their own,” Mr
working with the Finance Ministry ploration, the import of petroleum for Mialia said.
to assess the risks of setting up an oil reserves, or both. Cambodia’s Commerce Ministry has
company that is owned and operated by “At the moment, we don’t know - that called regular meetings in recent
the government. is still a question to be discussed and months to encourage gas companies
The Mines and Energy head Meng Sak- assessed.” in the country to adjust their prices to
theara, who is also a secretary of state Cambodian Prime Minister Hun Sen reflect global oil prices, although some
said the government has been studying asked at the beginning of the year for firms are reportedly moving slower
the possibility of whether a company the Finance Ministry to import more than others to comply.
should be established or not. petroleum for the county’s stockpiles as Local NGO Cambodians for Resource
“If established, the state-owned petro- oil prices continue to fall globally. Revenue Transparency said establishing
leum company would play the role of a Saktheara said the decision to begin a national oil company for exploration
body that invests money in the oil and considering a national oil company was purposes would only be prudent if
gas industry and would engage in joint not in response to the Prime Minister’s Cambodia had a large industry.
ventures with foreign companies,” Mr speech. Cambodians for Resource Revenue
Saktheara said. “We have not consulted with Prime Transparency executive director Kim
“We share all the risk…and we share Minister Hun Sen yet,” he said, adding Natacha said so far, we don’t have
the profit,” he said of the proposal, that the ministry had been doing re- enough information to see if we can
stressing that if the government did search into starting the company since justify the establishment of a state oil
decide to establish its own oil company, December. company.”
then its functions must be laid out in Marketing division manager of PTT “The exploration started pretty recent-
a petroleum law which his ministry is (Cambodia) Ltd, a subsidiary of ly and that information has not been
currently drafting. Thailand’s state-owned PTT Public disclosed publicly for analysis,” Ms
“The new draft petroleum law would Company Limited Bin Many Mialia Natacha said.
also stipulate the role and responsibility said importing petroleum in order to So far the country’s most significant
of the state-owned petroleum compa- boost Cambodia’s stores would benefit offshore oil reserves are in Block A, a
ny,” he said. both the government and those in the 4,790 square kilometre area off the coast
industry. of Sihanoukville believed to hold as
much as 10,000 barrels per day. Howev-
er it should be noted Chevron worked
for over a decade in Block A and failed
to produce a commercial oil well.
Last year Singapore’s KrisEnergy
purchased Chevron’s 30 per cent share
bringing its total share to 52.25 per
cent, the Cambodian government holds
a 5 percent stake in the block. §
A Awww.oilandgasaustralasia.com MARCH/APRIL 2015 OIL & GAS ustral SIA 17
