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Block D offshore oil licence revoked

geovalin

By geovalin
in Cambodia News

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geovalin Star Member

geovalin

Posted
Posted

The government revoked the offshore oil exploration license of CPHL (Cambodia) Co Ltd after the project failed to meet the terms of its petroleum agreement, a state official said yesterday.

Meng Saktheara, secretary of state at the Ministry of Mines and Energy (MME), said his ministry notified CPHL last week that it had cancelled the company’s contract to explore for oil in Block D, an offshore concession spanning 5,500 square kilometres in the Gulf of Thailand.

“There was communication between the ministry and the contracting party about the failure of the company to fulfil the obligations of its petroleum agreement,” he said.

read more http://www.phnompenhpost.com/business/block-d-offshore-oil-licence-revoked

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