KrisEnergy set to review bids for drilling services

Singapore-based firm KrisEnergy, which operates Cambodia’s offshore Block A, is now reviewing bids submitted by contractors for integrated drilling services and a facilities platform. They were submitted during the second quarter.

The procedure reflects a commitment the firm made to the Kingdom’s government, pledging that the first drop of oil would be extracted from the block late next year.

Ministry of Mines and Energy spokesman Cheap Sour said the progress puts the company a step closer to oil extraction after it formally signed a petroleum revenue sharing agreement with the government in August last year.

After reviewing and selecting the contractors, Sour said KrisEnergy will seek approval from Cambodian authorities to finalise the same.

“This progress makes it clearer that the company is executing the timeframe that was determined, and is on the journey to begin producing oil in 2019,” Sour said.https://www.phnompenhpost.com/business/krisenergy-set-review-bids-drilling-services