Cambodia to revise deal with KrisEnergy, paving way for first oil production

Singapore

CAMBODIA will sign a revised production sharing contract this month with Singapore-listed explorer KrisEnergy to develop an offshore field that could finally produce the country's first oil after years of delays, a government official said.

Cambodia is revising some fiscal terms in the 2002 contract for the Cambodia Block A field in the Khmer Basin, after KrisEnergy Ltd became the sole stakeholder last year. The government and the company declined to elaborate on the changes. "There will be an agreement signed in March," Meng Saktheara, a secretary of state at the Ministry for Mines and Energy, told Reuters.