Singapore’s KrisEnergy , in a joint venture with the Cambodian government, has started producing crude oil from Apsara field, which is Cambodia’s first oil field in the offshore Block A concession in the country.
KrisEnergy stated that the production from Apsara field started flowing from a single development well.
Upon commissioning and completion of four additional wells, the field is expected to see an increase in production.
KrisEnergy Cambodian operations CEO and president Kelvin Tang said: “Apsara first oil marks a 10-year journey from when KrisEnergy initially became a partner in Block A.
“It has been three years since we signed with the Government the petroleum agreement to launch this project and there has been a steep learning curve for all involved in what is a momentous event for the Cambodian people and an important strategic and operational milestone for KrisEnergy.
“Our task now is to complete drilling of the four remaining wells, stabilise production and monitor performance so that we may assess the best path forward to optimise Cambodia’s oil production and the value of the asset in the years ahead.”
The Apsara field lies over the Khmer Basin, which is an unproduced geological basin.
In 2017, Cambodia signed a deal with KrisEnergy to jointly develop 3,083km2 of the Khmer basin in the Gulf of Thailand known as Block A, Reuters reported.
The block is owned and operated by KrisEnergy 95% stake while the remaining 5% interest is held by Royal Government of Cambodia through the General Department of State Property and Non Tax Revenue (GDSPNTR) of the Ministry of Economy And Finance .