Phnom Penh (FN), Feb. 1 – Cambodian Prime Minister Hun Sen applauded the progress of oil industry despite small amount of extractions, speaking at the groundbreaking ceremony for the construction of Bakheng Water Treatment Plant and the inauguration ceremony of Chamkarmon Water Treatment Plant held Monday morning.
According to the premier, the first drill has been operating for 33 days, extracting some 1,236 barrels per day and amounting to 40,788 barrels so far.
“If a barrel of oil generates revenues more than USD 55, we can get only over USD 30 million a year, which is small compared to revenues generated from visas of 1 million foreign visitors to the Kingdom,” the premier said.
Premier Hun Sen continued that the second drill has just started its operation, while the third, fourth and fifth wells will operate one after another. It is estimated that Cambodia will produce more than 7,000 to 7,500 barrels a day.
“Revenues generated from selling Cambodia's oil production will be used in education and health sectors,” he said.
Cambodia has 25 oil blocks, six off-shores. Cambodia's first oil drop is produced from the A-0ID well of Platform A in the Gulf of Cambodia on 29 December 2020 by Singapore’s oil and gas exploration company KrisEnergy.