The Cambodian government has signed a long-awaited production-sharing agreement with a Singapore-based oil and gas company, KrisEnergyLimited, in order to develop an offshore oil field, the first of its kind in Cambodia. The agreement between Cambodia and KrisEnergy covers 3,083 square km of the Khmer basin in the Gulf of Thailand known as Block A. Oil will be produced from the Apsara field within the block and its output is expected within 24 months of the official launch of the project. The area is estimated to yield over 30 million barrels over a nine-year period. KrisEnergy owns 95 per cent interest in the field while the Cambodian government owns the rest.
