Cambodia Ready to Sign Energy Deal

Cambodia Ready to Sign Energy Deal

Cambodia is willing to expand ties and cooperation with Iran and hopes to soon reach a cooperation agreement on oil and gas sector, a senior Cambodian official said.
Cambodian deputy prime minister and foreign minister, Hor Namhong, on Monday also expressed the Southeast Asian state's desire for closer relations with Iran during a meeting with the outgoing Iranian Ambassador to Cambodia Hossein Alvandi Behineh, according to foreign ministry spokesman, Chum Sounry, Xinhua reported.
"The deputy prime minister expressed Phnom Penh's desire to establish a Cambodia-Iran economic cooperation committee and also suggested that the two countries sign a memorandum of understanding on oil and gas cooperation as soon as possible," Sounry told reporters after the meeting.
Behineh said Iran also wants to see the two countries sign the MoU in the near future and hoped that it would materialize during Namhong's visit to Iran early next year.
Despite being surrounded by petroleum producers in neighboring Thailand and Vietnam, Cambodia produces no oil or gas, and is wholly dependent on imports to meet its domestic needs.
Oil reserves have been found off the shore of Cambodia. The size of the oilfield is unknown, though estimates it to hold around 2 billion barrels of oil, which could bring in $2 billion in annual revenues for the country.


Short URL : https://goo.gl/TWsqms
  1. https://goo.gl/CyVtjh
  • https://goo.gl/7QBQyl
  • https://goo.gl/2YsmEa
  • https://goo.gl/Amkx2m
  • https://goo.gl/sB7jsD

You can also read ...

Philippines Struggles to Embrace Renewable Energy
Renewable energy costs are falling across the world, but the...
Oil Prices Rise as China, US Put Trade War on Hold
Oil prices rose on Monday as markets reacted to news that...
OPEC Not Rushing to Boost Production
OPEC is not in a rush to start winding down the production...
India to Keep Fuel Prices in Check
India is looking at ways to keep rising fuel prices in check,...
Iran's electricity industry ranks 14th in the world in terms of output.
Driven by its vast potential in the electricity industry, Iran...
Shourijeh Gas Storage Capacity to Reach 4.5 bcm
Shourijeh natural gas storage facility in the northeastern...
Changing Working Hours  Could Help Save Electricity
Changing working hours in state organizations during peak...