Saturday, October 13, 2007

Singapore Petroleum Company exploring for Cambodian oil

Singapore Petroleum Company Completes Increase of Participating Interest in Cambodia Block B

Singapore Petroleum Company Limited's wholly-owned subsidiary, SPC Cambodia Ltd (SPC Cambodia), and its partners have completed their acquisition of a combined 10% interest in Block B exploration block in Cambodia, further to an announcement on 5 January 2007. This follows approvals by the Cambodian National Petroleum Authority.

The additional 10% interest was acquired from CE Cambodia B Ltd, a wholly-owned subsidiary of Cooper Energy Limited. With its completion, SPC Cambodia and its two partners, PTTEP International Limited and Resourceful Petroleum Limited, each have one-third share in Block B.

Block B is located 250km off the coast of Cambodia to the east of the Thai-Cambodian Overlapping Claims Area, in the Gulf of Thailand. Block B lies to the southeast of the Khmer basin where a number of oil and gas discoveries have been made.

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