PHNOM PENH, July 12 (Xinhua) -- Cambodian Prime Minister Hun Sen publicly said on Tuesday that the country will extract the first drop of oil from the sea by December next year.
“We will exploit oil from the seabed from 12:00 at noon, on 12-12-2012,” he said during inaugurating a 900-meter sea bridge in Preah Sihanouk province, some 230 kilometers southwest of the capital Phnom Penh.
The premier did not give details of the would-be oil production.
Last month, the government of Cambodia awarded a Cambodia’s Petrochemical Company, which is a joint-venture with China National Automation Control System Corporation, to study the feasibility to build an oil refinery with the annual capacity of 5 million tons per year in Preah Sihanouk province by 2012.
At that time, Deputy Prime Minister Sok An, chairman of Cambodian National Petroleum Authority, said the U.S. oil giant Chevron Corp has completed its oil and gas exploration in Cambodia’s sea Block A, covering 4,709 square kilometers, and now the firm is planning 600 million U.S. dollars to exploit oil and gas from the sea.
Cambodia expects that it can make the revenue of 200 million U.S. dollars per year from oil and gas sector by 2013.
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