CNOOC to start drilling first oil well offshore in Cambodia

December 15th, 2011 | Global Times

The China National Offshore Oil Corporation (CNOOC) will start drilling the first well in the Block F offshore in Cambodia’s Preah Sihanouk province later this month, Li Fanrong, the company’s chief executive officer, said yesterday.

His disclosure was made during a meeting with Cambodia’s Deputy Prime Minister Sok An, according to Ek Tha, spokesman and deputy director of the Council of Ministers’ Press Department.

Li said the start of the drilling showed the firm’s commitment to investing in Cambodia’s oil and gas sector and it resulted from good and long relationship between Cambodia and China.

The first well drilling is expected to cost $20 million.

Meanwhile, Sok An said it was a very good sign for Cambodia’s oil and gas sector and added that Cambodia fully supported the firm for the drilling.

He also asked CNOOC, which is China’s biggest offshore oil and gas company, to help Cambodian petroleum officials to keep up with new techniques in the oil and gas industry.

The government of Cambodia awarded the Block F in the total area of over 7,000 square kilometers to CNOOC in 2007.

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Category: China Oil Monitor