Page 14 - MEOG Week 08 2022

MEOG NEWS IN BRIEF MEOG

meeting between Minister of Mines and important for Cambodia to thoroughly remained untapped and some good
Energy Suy Sem and Iranian ambassador to explore possibilities in the oil sector because discoveries have been also made in recent
Vietnam and Cambodia Ali Akbar Nazari on it is a resource that the Kingdom shares years, Owji said in an interview with IRIB
February 21 at the ministry. with neighbouring Thailand, and it was a TV1.
Cheap Sour, director-general of the race between the two sides to see who could On the Memorandum of Understanding
ministry’s General Department of Petroleum, capitalise on it. (MoU) signed to develop oil and gas fields,
hailed Iran as a country with significant “The mines ministry’s efforts to attract reconstruct oil and gas refineries and export
experience as an oil and gas producer and saw investors to develop the oil sector are very technical and engineering services, he said
the meeting as a boost to further economic important [in promoting] the successful more agreements will be signed with other
cooperation between the two countries. pumping of Cambodia’s oil, which we hope members of the Gas Exporting Countries
He told The Post that ministry leaders will lower oil prices, as well as allow the Forum today.
called on investors from the country to study government to [generate] more revenue Given Iran’s high potential in human
the feasibility of investing in Cambodia’s to help in key areas such as health and resources, fortunately we enjoy experiences
existing oil blocks, as well as to explore new education,” he said. in exploration, production, refining and
ones, but said that these talks were at a very At the end of 2019, Mubadala Petroleum, transporting oil by-products in global oil
early stage. a major oil and gas company from the UAE, industry, he added.
“This is a start, but it is not yet clear which sought investment opportunities in the During the Sixth GECF Summit, we
investors from Iranian companies will be able Cambodian oil sector, but took no further repeatedly announced that Iran has the
to invest; it is just a diplomatic [discussion]. action at the onset of the Covid-19 crisis. necessary capacity to supply neighbouring
Now we are waiting to see,” he said. According to Sour, in addition to and European countries’ gas demand and we
Oil exploration at the Apsara oilfield discussing cooperation on investment and hope to be able to boost our two percent share
in Cambodia’s offshore Block A has been development of Cambodia’s oil blocks, the two in gas trade in the coming years.
suspended since Singapore-listed investment sides also made plans to study the feasibility Referring to the recent gas swap deal
company KrisEnergy – which had been of setting up a refinery in Cambodia, as well among Iran, Azerbaijan and Turkmenistan,
conducting pumping operations at the as explore the possibility of working together Owji said, “as Iran has thousands of
location – went bankrupt, Sour said. in developing technical assistance and human kilometres of gas supply network, it is
KrisEnergy filed for bankruptcy in mid- resource training in the petroleum sector currently ready to swap gas with neighbouring
2021, claiming it has been unable to pay and energy trade cooperation, investment countries from East to West and from North
off more than $500 million in debt. From mobilisation, and the development of to South, and vice versa.”
the start of the pumping operation until its electricity infrastructure. SHANA
bankruptcy declaration, the company pumped PHNOM PENH POST
nearly 300,000 barrels of oil, according to ADNOC L&S signs FSU
Sour. Since then, the mines ministry has been
seeking to lure investors as well as research GAS charter deal
teams to the area.
Hong Vanak, director of International Iran able to supply ADNOC Logistics & Services (ADNOC L&S)
Economics at the Royal Academy of and Atlantic Gulf & Pacific International
Cambodia, said that if the Iranian side neighbours’, Euro gas Holdings (AG&P), a leading downstream
agreed to Cambodia’s request to invest in and LNG platform and infrastructure
develop the Kingdom’s oil blocks, it would be demands development company have signed a charter
a positive for the local oil sector, and could agreement to utilize ADNOC L&S’s LNG
mean a resumption of pumping operations Iranian Minister of Petroleum, Javad Owji, Carrier Ish as a Floating Storage Facility
that were suspended due to the bankruptcy of said on Tuesday we frequently announced (FSU).
KrisEnergy. Iran’s necessary capacity to provide Under the terms of the agreement, starting
He added that Iran’s good qualifications neighboring and European countries with Q3 2022, AG&P will use the carrier for the
and experience in the field of oil mining is their needed gas during the Sixth Summit of first LNG Import Terminal in the Philippines
something Cambodia’s own industry can Heads of States and Government of the Gas at Ilijan in Batangas Bay (PHLNG). The
benefit greatly from. Exporting Countries Forum (GECF). agreement, which is valid for 11 years
Royal Academy of Cambodia economics Despite high domestic gas consumption with the option of extension by 4 years,
researcher Ky Sereyvath said that it was and exports, many of our gas fields have strengthens an existing relationship between

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