National Assembly Endorses Draft Law on Petroleum Production Management

National Assembly has endorsed the draft law on Petroleum and Petroleum Production Management � a move made while exploration of the Cambodia's new resource is very positive both in the main land and offshore.

The endorsement of the draft law of nine chapters and 72 articles was made on June 17 following thorough examination and discussions.

Ministry of Mines and Energy started leading the compilation of the law in 1996 and it underwent comprehensive review process grounding on experiences from other countries and national and international experts in the industry.

Once put into use, the law is expected to ensure efficiency, transparency and accountability for sustainable extraction and management of the resource and build confidence among potential investors.

H.E. Suy Sem, Minister of Mines and Energy, said that the law will contribute vitally to Cambodia's economic development for a long run.

Singapore-based KrisEnergy was licensed to extract the oil in Block A in late of 2019 or early 2020.

Source: Agency Kampuchea Press