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French, Chinese oil companies battle for Cambodian reserves: report
AFP
PHNOM PENH
Petroleumworld.com 09 29 06
French and Chinese oil companies are battling it out for the rights to explore potentially rich oil and gas reserves off Cambodia's southern coast, local media reported Thursday.
French petroleum giant Total is competing with an unidentified Chinese oil company for exploration rights to offshore block B, the English-language Cambodia Daily reported.
"Total is interested in offshore but the negotiation is very slow," Men Den, director of Cambodian National Petroleum Authority's petroleum exploration department, was quoted as saying.
"The Chinese company needs it also but it depends on which company can offer most to the Cambodian government and Cambodian people."
The Cambodia Daily said it was unclear which Chinese firm was involved but noted that officials from Chinese National Petroleum Offshore Oil Co. had met Cambodia's prime minister in July and expressed interest in the field.
Cambodia has a total of six offshore exploration blocks.
Men Den said that block B, a 6,557 square-kilometer field (2,531 square miles), is thought to hold hundreds of millions of barrels of oil and gas.
Thai company PTTEP was awarded a 30 percent exploration stake in the block last year, Men Den added.
AFP 28 0603 GMT 09 06
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