The construction of the first Cambodian oil refinery, by the Cambodian Petroleum Chemical (CPC) company, will start next year.
Mr. Chae Lee Din, spokesman for the Ministry of Industry, Mines and Energy (MIME), told reporters on Tuesday that, since 2012, the Royal Government of Cambodia (RGC), through the General Department of Petroleum of the MIME, has granted CPC, in a joint venture with the Chinese National Petroleum Company (CNPC), the right to build the first oil refinery in the kingdom.
He added that it will take about 36 months for the oil refinery to produce the first drop of gasoline. And the construction will begin next year.
According to sources online, CPC will spend about $2.3 billion for the construction of the refinery that will cover 365 hectares of land in Kampot province. Once finished, the refinery will be able to annually process 5 million tonnes of crude oil.
Experts say that there are six offshore oil blocks (Block A-Block F) in Cambodia. However, significant amount of oil has been found only in Block A.
In 2016, the exploitation of oil in Block A was transferred to KrisEnergy, an oil drilling company from Singapore that, until today, still remains committed to oil drilling in Block A.
"Cambodia Block A covers an area of 4,709 sq km in the Gulf of Thailand over the Khmer Basin, approximately 150 km offshore Cambodia where water depths range between 50 and 80 metres." KrisEnergy wrote on its website.
Besides offshore oil, The Kingdom of Cambodia has also 19 onshore oil blocks (I to XIX). Block XII , located west of the Tonle Sap Lake, was awarded to Medco Energy and JHL Petroleum for exploitation; Block XV, located east of the Tonle Sap Lake in Kampong Thom province, was awarded to PetroVietnam for exploitation; Block XVII is located in Preah Vihear, Siem Reap and Kampong Thom provinces, this block covers 6,500km2.
Recently, a contract was also awarded to Japan Oil, Gas and Metals National Corporation for oil exploitation in the kingdom.
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