Phnom Penh (FN), Jul. 25 – A revitalized relationship between the new Cambodian and Thai governments gives new impetus for discussing various problems of common interest. One is the disputed boundary issue of the Overlapping Claim Area (OCA), a potentially resource-rich offshore area in the Gulf of Thailand contested by the two countries.

The new governments of the two kingdoms agreed to start the negotiation process after the long-stalled 2001 MOU to create a joint development area to exploit the potential gas reserve in the OCA jointly. This joint development project, if successful, will be a new source of growth for Cambodia’s economy and petroleum sector after the KrisEnergy fiasco in 2021. It will also contribute to Thailand’s energy security and economic growth. This study looks at two joint development models that countries in the region have used in jointly exploiting contested offshore petroleum blocks.

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=FRESH NEWS