Energy Exploration in Cambodia

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CEOCambodiaNews
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Energy Exploration in Cambodia

Post by CEOCambodiaNews » Wed Apr 17, 2019 6:54 am

An article looking at energy exploration in Cambodia, both on and offshore, explaining some of the reasons why nothing is simple.

What Will It Take for Cambodia to Actually Strike Oil and Gas?
The government is once again heralding oil and gas prospects offshore and on, but it’s done so twice before.
By Danielle Keeton-Olsen
April 16, 2019

A new set of international companies are optimistic about Cambodia’s nascent oil and gas industry, but they are investing in an extractive business that has proven costly and yielded only delays, not yet profit.

The Canadian-listed gold mining company Angkor Gold announced this year that it would start exploring oil and gas blocks onshore in Cambodia, expanding out from its gold and copper endeavors which have yet to deliver any profit for the company. Angkor Gold would not disclose any details on which location they may choose to explore, but their website explains the company is negotiating with the government for 7,000 square kilometers, with particular interest in the Kampong Som basin, an area southwest of Phnom Penh where thermal conditions indicate a possibility for oil or dry gas.

The exploration comes off the back of KrisEnergy’s pledge to extract Cambodia’s first drops of oil later this year. The Singapore-based oil and gas company announced that it would begin production in 2019 from a reserve holding an estimated 400 million barrels. If successful, they will finally reap the long-awaited rewards of a reserve that’s stymied oil-and-gas giant Chevron for more than a decade, and perhaps turn around the company’s piling net losses and declining stock performance.
https://thediplomat.com/2019/04/what-wi ... l-and-gas/
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SternAAlbifrons
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Re: Energy Exploration in Cambodia

Post by SternAAlbifrons » Wed Apr 17, 2019 7:41 am

Thanks for that. i am starting to breathe a bit easier about the offshore plans.
I just do not see how it is going to be feasible at current oil prices, and price projections.

The futures market prices a barrel of Brent at around $54/barrel in 2025. Although that does not mean a lot in itself, it does indicate that oil prices are unlikely to significantly rise in the foreseeable future.

We should not be too negative about the whole thing tho' - onshore discoveries could (maybe maybe) be a good thing for Cambodia.
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Re: Energy Exploration in Cambodia

Post by SternAAlbifrons » Wed Apr 17, 2019 7:58 am

It seems Chevron is still out in the Gulf still (Thailand) and even doing some good work.

Today..
A dog found swimming more than 220 kilometres from shore by workers on an oil rig crew in the Gulf of Thailand has been returned safely to land.

The crew managed to rescue the dog by putting a rope around its neck and hauling it up
They nicknamed him "Boon Rod", Thai for "Survivor"
Precisely how the pooch ended up so far out at sea remains a mystery
A worker on the Chevron Thailand Exploration and Production rig, Vitisak Payalaw, said on his Facebook page that the dog was sighted last Friday swimming toward the platform.

The crew managed to rescue the dog by putting a rope around its neck and hauling it up.
Precisely how the pooch ended up so far out at sea remains a mystery.
The crew speculated it might have fallen off a fishing trawler.
The crew draped it in flowers and dubbed the animal "Boon Rod," a Thai phrase that roughly translates as "Survivor".
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Re: Energy Exploration in Cambodia

Post by Duncan » Wed Apr 17, 2019 11:33 am

SternAAlbifrons wrote:
Wed Apr 17, 2019 7:58 am
It seems Chevron is still out in the Gulf still (Thailand) and even doing some good work.

Today..
A dog found swimming more than 220 kilometres from shore by workers on an oil rig crew in the Gulf of Thailand has been returned safely to land.

The crew managed to rescue the dog by putting a rope around its neck and hauling it up
They nicknamed him "Boon Rod", Thai for "Survivor"
Precisely how the pooch ended up so far out at sea remains a mystery
A worker on the Chevron Thailand Exploration and Production rig, Vitisak Payalaw, said on his Facebook page that the dog was sighted last Friday swimming toward the platform.

The crew managed to rescue the dog by putting a rope around its neck and hauling it up.
Precisely how the pooch ended up so far out at sea remains a mystery.
The crew speculated it might have fallen off a fishing trawler.
The crew draped it in flowers and dubbed the animal "Boon Rod," a Thai phrase that roughly translates as "Survivor".


Truly amazing what a dog will do to get out of Thailand .
Cambodia,,,, Don't fall in love with her.
Like the spoilt child she is, she will not be happy till she destroys herself from within and breaks your heart.
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