Energy Exploration in Cambodia

Whether you're a working stiff or a business owner yourself, this is the place to discuss all aspects of financing your drinking habit ;-)

NO BUSINESS SALES HERE PLEASE, WE HAVE A SECTION FOR THAT IN THE CLASSIFIEDS.
User avatar
CEOCambodiaNews
Expatriate
Posts: 41884
Joined: Sun Oct 12, 2014 5:13 am
Reputation: 2451
Location: CEO Newsroom in Phnom Penh, Cambodia
Contact:
Cambodia

Energy Exploration in Cambodia

Post by CEOCambodiaNews »

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/
Cambodia Expats Online: Bringing you breaking news from Cambodia before you read it anywhere else!

Have a story or an anonymous news tip for CEO? Need advertising? CONTACT US

Cambodia Expats Online is the most popular community in the country. JOIN TODAY

Follow CEO on social media:

Facebook
Twitter
YouTube
Google+
Instagram
User avatar
SternAAlbifrons
Expatriate
Posts: 4451
Joined: Sat Mar 23, 2019 11:31 am
Reputation: 2621
Location: Gilligan's Island
Pitcairn Island

Re: Energy Exploration in Cambodia

Post by SternAAlbifrons »

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.
User avatar
SternAAlbifrons
Expatriate
Posts: 4451
Joined: Sat Mar 23, 2019 11:31 am
Reputation: 2621
Location: Gilligan's Island
Pitcairn Island

Re: Energy Exploration in Cambodia

Post by SternAAlbifrons »

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".
User avatar
Duncan
Sir Duncan
Posts: 8150
Joined: Tue Jun 03, 2014 8:22 pm
Reputation: 2340
Location: Wonder Why Central

Re: Energy Exploration in Cambodia

Post by Duncan »

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.
User avatar
CEOCambodiaNews
Expatriate
Posts: 41884
Joined: Sun Oct 12, 2014 5:13 am
Reputation: 2451
Location: CEO Newsroom in Phnom Penh, Cambodia
Contact:
Cambodia

Re: Energy Exploration in Cambodia

Post by CEOCambodiaNews »

Cambodia dreams of an oil gushing bonanza
30 April 2019
Singapore’s KrisEnergy will soon start nation’s first offshore extraction but some feel the Apsara project’s prospects are being over-pumped

Amid electricity cuts, parched hydropower dams and millions of dollars of blackout-related economic losses, a bright spot could be emerging on Cambodia’s energy front.

After nearly two decades of false starts, Cambodia has announced it will begin to extract oil for the first time later this year, representing a potential rich new source of energy and revenue.

Extraction is expected to begin by the end of this year from the so-called “Apsara” oil field, situated in a 5,000 square kilometer area of the Gulf of Thailand known as Block A.

Cambodia’s extraction plans have been hobbled for years due to a maritime territorial dispute with neighboring Thailand but Block A is safely within Cambodia’s solely claimed area.

The area contains an estimated 30 million barrels of oil, according to the Ministry of Economy and Finance. Currently, Cambodia is a net fuel-importing nation.

US energy giant Chevron, which took a controlling stake in Block A in 2012, had earlier estimated it held 700 million barrels of oil but that figure has since been revised down substantially.

Full article: https://www.asiatimes.com/2019/04/artic ... g-bonanza/
Cambodia Expats Online: Bringing you breaking news from Cambodia before you read it anywhere else!

Have a story or an anonymous news tip for CEO? Need advertising? CONTACT US

Cambodia Expats Online is the most popular community in the country. JOIN TODAY

Follow CEO on social media:

Facebook
Twitter
YouTube
Google+
Instagram
User avatar
CEOCambodiaNews
Expatriate
Posts: 41884
Joined: Sun Oct 12, 2014 5:13 am
Reputation: 2451
Location: CEO Newsroom in Phnom Penh, Cambodia
Contact:
Cambodia

Re: Energy Exploration in Cambodia

Post by CEOCambodiaNews »

September 26, 2019
Cambodia to host Indochina oil and gas conference

The biggest event for the oil and gas sector in the Mekong Region is coming to Cambodia.
The Indochina Oil & Gas Expo and Conference 2019 will be held at Sokha Beach Resort in Sihanoukville on Nov 28 and 29.

“This international event is projected to bring together in 2019 more than 3,000 industry professionals to address the strategic, operations, and technological aspect of the oil and gas industry in the Indochina Region,” the announcement for the gathering said.

In addition to industry stakeholders from Indochina, the two-day event is also expected to draw attendees from other parts of the world, including delegations from important oil-producing countries.

Participants will have plenty of opportunities to expand their network while also learning more about the oil and gas industry in the region.

Indochina encompasses Vietnam, Cambodia, Thailand, Laos, Peninsular Malaysia (including Singapore), and Myanmar. Except for Laos, all countries in the region possess significant oil and gas deposits or an established oil and gas-related industry. Singapore compensates for its lack of oil resources by being an important oil refining centre in Asia.
https://www.khmertimeskh.com/50646364/c ... onference/
Cambodia Expats Online: Bringing you breaking news from Cambodia before you read it anywhere else!

Have a story or an anonymous news tip for CEO? Need advertising? CONTACT US

Cambodia Expats Online is the most popular community in the country. JOIN TODAY

Follow CEO on social media:

Facebook
Twitter
YouTube
Google+
Instagram
User avatar
SternAAlbifrons
Expatriate
Posts: 4451
Joined: Sat Mar 23, 2019 11:31 am
Reputation: 2621
Location: Gilligan's Island
Pitcairn Island

Re: Energy Exploration in Cambodia

Post by SternAAlbifrons »

Hey News, can we send someone to cover this conference? ^^
It should be verrry interrrresting.

PS KrisEnergy will not be landing any oil this year, contrary to the grand plans and loud public announcements.
The are fighting for their life in a Singapore bankruptcy court.
User avatar
CEOCambodiaNews
Expatriate
Posts: 41884
Joined: Sun Oct 12, 2014 5:13 am
Reputation: 2451
Location: CEO Newsroom in Phnom Penh, Cambodia
Contact:
Cambodia

Re: Energy Exploration in Cambodia

Post by CEOCambodiaNews »

SternAAlbifrons wrote: Tue Oct 01, 2019 2:09 am Hey News, can we send someone to cover this conference? ^^
It should be verrry interrrresting.

PS KrisEnergy will not be landing any oil this year, contrary to the grand plans and loud public announcements.
The are fighting for their life in a Singapore bankruptcy court.
23:00 / 10.09.2019
The Straits Time
KrisEnergy gets three-month debt moratorium

Energy firm KrisEnergy will receive three months of court protection from creditors' legal action while it restructures debt of US$476.8 million (S$658 million), it said yesterday.

The High Court granted the moratorium to Nov 14, which was less than the six-month stay KrisEnergy had sought, at a hearing on Monday.

Keppel Corporation, a creditor and shareholder of KrisEnergy, had backed the application and the firm's management in formulating a restructuring plan.

KrisEnergy said last month that while its restructuring is ongoing, it will temporarily stop repaying the principal and interest payable on term loans of US$4.6 million due on Aug 21. It received a letter from HSBC on Aug 21 for the acceleration of the term facility agreement.

The mainboard-listed company, which produces oil and gas in South-east Asia, also temporarily stopped the repayment of interest under the due-2023 notes, amounting to $4.1 million, due on Aug 22.
https://theworldnews.net/sg-news/krisen ... moratorium
Cambodia Expats Online: Bringing you breaking news from Cambodia before you read it anywhere else!

Have a story or an anonymous news tip for CEO? Need advertising? CONTACT US

Cambodia Expats Online is the most popular community in the country. JOIN TODAY

Follow CEO on social media:

Facebook
Twitter
YouTube
Google+
Instagram
User avatar
SternAAlbifrons
Expatriate
Posts: 4451
Joined: Sat Mar 23, 2019 11:31 am
Reputation: 2621
Location: Gilligan's Island
Pitcairn Island

Re: Energy Exploration in Cambodia

Post by SternAAlbifrons »

Their planned exploration and production expenditure has been slashed.
I doubt if hundreds of $$$millions to get the very marginal cambodian field up to production capability is included in the revised, court supervised, arrangements.

They did not start as a shonky company - a group of former BigOil execs put together a bunch of cheap, small and/or marginal oil fields around SEA.
Made a go of it for a while, some fields still profitable, but they seem to be bleeding funds at a rapid rate for the past few years.

As they go bad, they are looking more shonky.
Original founders and management are jumping or being pushed out. Sus.
My guess is that the big announcements about Cambodian production starting next month, were to keep hopes high while desperately searching to borrow more funds.
The plans/timing was always obvious unrealistic bullshit.
The recently completed, very speedy, seismic surveys may well have been an accounting fraud. (imo only)

If they do decide to keep going with the cambodian offshore field - Best Practice will not be on the agenda.
It will be to drop a rig on top of the field as quickly and cheaply as possible, to get some instant revenue.
Environmental concerns will have no priority.
(i fear)
User avatar
Duncan
Sir Duncan
Posts: 8150
Joined: Tue Jun 03, 2014 8:22 pm
Reputation: 2340
Location: Wonder Why Central

Re: Energy Exploration in Cambodia

Post by Duncan »

SternAAlbifrons wrote: Tue Oct 01, 2019 2:09 am Hey News, can we send someone to cover this conference? ^^
It should be verrry interrrresting.

PS KrisEnergy will not be landing any oil this year, contrary to the grand plans and loud public announcements.
The are fighting for their life in a Singapore bankruptcy court.

Hey CEO News . Coal and oil are old news., can we send someone to cover this new and exciting source of solar energy from the sun.


Image
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.
Post Reply Previous topicNext topic
  • Similar Topics
    Replies
    Views
    Last post

Who is online

Users browsing this forum: AndyKK, Oumedc, Yerg and 60 guests