Ministry Approves KrisEnergy’s Oil Production Deadline Extension to April Next Year

• Proeksa Meas
• 16 December 2020
• Uncategorized
• 4132 Views

The Ministry of Mines and Energy has approved KrisEnergy’s request to extend the deadline of oil production to April 2021, even though the company failed to extract oil many times since mid-2020.

HE Cheap Sour, Director-General of Petroleum of the Ministry of Mines and Energy, said that the measures for the failure to extract oil are based on contracts.

“The Ministry has given permission because COVID-19 has caused some obstruction of firm’s work … and if until the 30 April 2021 the firm cannot produce, we might revoke their license,” H.E. Cheap Sour said.

On 11 November, KrisEnergy asked the Cambodian government to postpone the oil production deadline in Block A of Apsara Project after the firm repeatedly delayed its works due to the COVID-19 outbreak. (Read more)

According to the report, the deadline for the first oil production to be achieved (without financial penalties) was on 30 June 2020 but was later extended by the Cambodian government to 31 October 2020.

Meanwhile, the date after which serious consequences (financial or otherwise, including termination) will apply has been extended from 31 December 2020 to 30 April 2021.

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