The first-ever drop of oil pumped from a rig in Cambodia has been delivered to the Win-Win Monument in Phnom Penh. The ceremony was presided over by Deputy Prime Minister and Minister of National Defense, Mr. Tea Banh. It was also attended by Minister of Mines and Energy, Mr. Suy Sem.
The oil was pumped on 29 December 2020, the 22nd anniversary of the end of the war in Cambodia. The oil is being hailed as a legacy of peace, under the “win-win” policy of Prime Minister Hun Sen, so the Win-Win monument couldn’t be a more perfect home for Cambodia’s first ever drop of oil.
Located in Chroy Changvar, the monument is dedicated to Prime Minister Hun Sen’s “win-win policy”, credited with steering Cambodia from the ravages of war to being one of the most rapidly-developing countries in the world. As the Prime Minister himself said recently, oil would never have been produced in Cambodia had the flames of war not been replaced by peace. The oil has now been ceremoniously placed at the monument to remind Cambodian people that “win-win” policies have brought peace and socio-economic development.
The oil is being drilled and pumped by KrisEnergy in the Gulf of Thailand. Just how much it expects to pump is unknown. The government has roughly calculated an annual revenue of $30 million, if oil prices hover above $55 per barrel and it intends to make sure that KrisEnergy’s Apsara Oil Field delivers on its commitments. The Singapore-listed parent company has filed for liquidation, but says all of its subsidiaries, including KrisEnergy (Cambodia) Limited, will continue to operate as normal.
Cambodia’s Director-General for Petroleum in the Ministry of Mines and Energy, Mr. Cheap Sour, has been reported as saying that he will be monitoring KrisEnergy’s liquidation process to ensure that its subsidiary here fulfils its contractual obligations to the country.
