Cambodian offshore exploration finds no viable fields

Dec 31, 1996 01:00 AM

The extensive oil and gas exploration conducted off the shores of Cambodia yielded no commercially viable wells. Representatives of Enterprise Oil and Cambodia Petroleum Exploration Co. Ltd (Campex) said the disappointing results from four wells drilled in 1996 meant they must now pin their hopes further offshore. They are now looking at the Overlapping Claim Area (OCA), a 26,400 sqkm central section of the Gulf of Thailand that both Cambodia and Thailand claim to control. Enterprise, which explored on behalf of its partners British Gas and France's Total, conducted drilling at three wells in 1996 and a fourth well in 1994. The more than $ 55 mm exploration project included extensive seismic tests. Campex, a subsidiary of Japan Petroleum Exploration (JAPEX), told exploration of one well late this year and two in 1993 and 1994 had produced similar results.
The OCA has been disputed for more than two decades. Enterprise and Campex, who have both submitted bids for the OCA, believe the area could prove rich in reserves.

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