The North-American minerals company, Angkor Gold is actively pursuing oil and gas opportunities in Cambodia in addition to its ongoing mineral exploration projects.
|Angkor Gold eyes off gas and oil in Cambodia|
Cambodia has traditionally been viewed primarily as a country with mining and mineral resource opportunities, however, sizeable oil and gas reserves have been developed on three sides of the country: in the Gulf of Thailand to the west, the Khorat Plateau of Thailand to the north and in the Vietnamese Cuu Long Basin of the South China Sea to the south.
Angkor Gold’s Chief Executive Officer, Stephen Burega, has stated that the company was currently in discussions with Cambodia’s oil and gas authorities regarding pursuing oil and gas concessions and available licenses
“We have been looking at the potential of oil and gas in Cambodia for the last 5 years,” said Mr Burega.
“The sedimentary basins inland in Cambodia have never been systematically explored,” said Angkor Executive Chairman Mike Weeks, “partially because of previous historical regional instability and a poor understanding of local geology as it relates to hydrocarbons. We see the potential for petroleum accumulations in Cambodia indicated by onshore natural oil seepages, the presence of sedimentary rocks and geological structures that may trap and hold oil and gas, and the similarity of geology of areas adjacent to Cambodia where oil and gas has been found and is being produced.”
To assist in this expansion of Angkor’s resource focus, Angkor will be working with recognised oil and gas exploration expert Dr Lorne Rosenthal, who has worked in oil and gas exploration in the Western Canadian Sedimentary Basin for over 40 years.
“I have been reviewing all available data and the geological setting for several years,” said Rosenthal, “I would say that parts of Cambodia have similar geology to some of the world’s important oil-bearing basins.”
Angkor continues to explore and develop its five exploration licenses in the Kingdom of Cambodia that cover approximately 983 km2, with the support of the Cambodian government, local communities and earn-in exploration funding partners such as Japan’s JOGMEC, Australia’s Emerald Resources NL and Canada’s Hommy 5 Resources Inc.
“We are very excited about the possibility of adding oil and gas prospects to Angkor’s portfolio of exploration properties,” said Mr Burega.
“Cambodia continues to offer exceptional opportunities as an underexplored region and Angkor is well-placed to lead the way in new discoveries.”