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New Cambodia Oil Find Will Save People

It would bring vital revenues for the resource-poor Indochinese nation

New Cambodia Oil Find Will Save People

US oil major Chevron will assess the scope of its offshore Cambodia oil find early next year, raising hopes for the country?s first production by 2008.

Chevron will drill six appraisal wells and four more exploration ones in early 2006, 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 oil field (called Khmer Trough) may hold as much as 400 million barrels of crude and 3-5 trillion cubic feet of natural gas, a Cambodian energy official said last year.
It would bring vital revenues for the resource-poor Indochinese nation and should help lower electricity prices by providing a source of indigenous fuel.

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