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Angkor Receives Approval for Cambodian Oil and Gas Concession - CEO

Gasoil News - Published on Fri, 16 Aug 2019

Image Source: Globe Newswire
Angkor Gold Corp CEO Stephen Burega announced that Angkor, through its subsidiary EnerCam Resources Co Ltd, has received the approval of the Royal Government of Cambodia on its application for a 7300 square kilometre oil and gas concession in Cambodia. The Royal Government of Cambodia has approved Angkor's request for the development of Petroleum Block VIII through its subsidiary EnerCam Resources Co. Ltd. With this approval, Angkor is now proceeding with the negotiation of the Production Sharing Agreement (PSA) with regard to the license. This approval also allows Angkor to pursue oil and gas exploration on Block VIII.

Mr Stephen Burega CEO of Angkor said that “This is a major milestone for Angkor. Angkor is the first Canadian exploration company to be granted this level of approval to pursue oil and gas opportunities in Cambodia. After review, the Royal Government of Cambodia has determined Angkor's subsidiary EnerCam to be technically qualified to explore and develop this oil and gas concession. With the long-term expertise and commitment of Angkor's Executive Chairman Mike Weeks in foreign oil and gas projects and in Cambodia, we are well positioned to expand in SE Asia's extractive sector. Angkor looks forward to negotiating the Production Sharing Agreement and commencing our seismic and data review as soon as possible."

His Excellency Cheap Sour, Director General for the General Department of Petroleum of Cambodia's Ministry of Mines and Energy “We are very pleased to be working with Angkor in developing Cambodia's oil and gas potential."

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Posted By : Sanju Moirangthem on Fri, 16 Aug 2019
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