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Cambodia set to award Total oil exploration rights
 
 
 
 
 
 
 Reuters - Monday, July 20
PHNOM PENH, July 20 - Cambodia's government is drawing up an agreement to give France's Total <TOTF.PA> rights to look for oil in its offshore block 3 in the Gulf of Thailand, officials said on Monday.
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A provisional agreement was reached last week when Prime Minister Hun Sen was in Paris.
"Hun Sen told the French prime minister that Cambodia had decided to award block 3 to the French company, Total, for oil drilling after lengthy consideration," Prak Sokhon, a senior government official who was in the delegation, told reporters.
Te Duong Tara, director general of the Cambodian National Petroleum Authority , told Reuters: "We are still working on the details before an official announcement is made."
Cambodia does not yet produce oil. Chevron Corp <CVX.N> is the operator of Block A in the Gulf of Thailand but is unlikely to produce oil before 2010 at the earliest. [ID:nSP193266]
 
 
 
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