KrisEnergy extracted the first drops of oil from Cambodia’s Block A, Prime Minister Hun Sen announced on Tuesday, achieving a decades-old goal despite the company’s ongoing financial woes.
While Cambodia has aspired to draw its first oil since deposits were discovered off the coast in 2004, an oil field licensee has missed another production deadline and now faces a global slowdown in oil and gas exploration.
The Malaysian billionaire owner of the NagaWorld casinos received Cambodian citizenship in October, according to official documents, opening an opportunity for the tycoon to become a sole owner of land in the country.
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