6 October 2014
Oil and
gas company KrisEnergy has finalised its purchase of Chevron’s stake in
Cambodia’s oil reserves in the Gulf of Thailand. KrisEnergy, which already held
a 25% interest in Block A along with joint-venture partners MOECO and GS
Energy, now holds the lion’s share in the site, with a combined 55%. However,
with the Cambodian government set to acquire a 5% interest in the 4,700
square-kilometre block, KrisEnergy’s overall ownership will decline to 52.25%
overall. KrisEnergy expects to produce some 10,000 barrels of oil per day once
Block A becomes operational.
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