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Tuesday, 02 December, 2008, 21:20 GMT | more >>

Cooper takes stake in Cambodian block



By Upstream staff 

Australia's Cooper Energy has farmed into an offshore Cambodia block under an agreement with Malaysia's Resourceful Petroleum.

The agreement will give Cooper a 10% stake in the PTTEP-operated Block B.

Block B covers an area of about 6551 square kilometres located about 250 kilometres off the coast of Cambodia.

PTTEP has said that it plans to conduct a 3D seismic survey and drill an exploration well in the first three years of the exploration period.

Cooper said that the farm-in is subject to approval by the Cambodian government and the signing of the final production sharing contract.

Once the transaction is completed, the participants in Block B are expected to be operated PTTEP (40%), Resourceful (50%) and Cooper (10%).


Friday, 22 July, 2005, 03:15 GMT  | last updated: Friday, 22 July, 2005, 03:15 GMT

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