Chevron Corp. Offshore Cambodia Oil Next Year
US major Chevron Corp. will assess the scope of its offshore Cambodia oil find early next year, raising hopes for the country’s first production by 2008, a senior government official said on Tuesday.
Chevron will drill six appraisal wells and four more exploration ones in early 2006 after discovering oil or gas in five of the six wells it drilled in Cambodia’s Gulf of Thailand over the last two years, said Ho Vechit, vice-chairman of the Cambodian National Petroleum Authority.
“If the findings are positive, oil production may commence as early as 2008,” he told an industry conference.
The joint-venture exploring Cambodia’s Block A announced earlier this year it had found oil and was studying the economic viability of the find. The block is believed to be the impoverished country’s first significant oil discovery. Read more