Gov’t urges petroleum firms to keep exploring

[geovalin]

Sor Chandara

Oil and gas exploration companies operating in Cambodia must follow the schedule of their concession contracts or face fines and risk having their contracts revoked, a state official warned yesterday.

Despite low world oil prices, he said, the government wants to see progress toward developing the country’s untapped petroleum resources.

“We are flexible with companies seeing that the reason [for the slow pace of exploration] is that global oil prices are low so they cannot commence exploratory drilling right now, but we are not so soft that we’ll give them concessions and let them do nothing,” said Meng Saktheara, secretary of state at the Ministry of Mines and Energy.

read more http://www.phnompenhpost.com/business/govt-urges-petroleum-firms-keep-exploring