Cambodia’s oil dreams live on even after driller files for liquidation

Singapore-based oil and gas exploration company KrisEnergy Ltd on Dec 28 extracted the first drop of crude oil from Cambodian waters. - MINISTRY OF MINES AND ENERGY

PHNOM PENH (The Phnom Penh Post/ANN): KrisEnergy Ltd, the operator of the Apsara oil field development offshore Cambodia, has confirmed that all operations of its subsidiary in Cambodia, KrisEnergy (Cambodia) Ltd, will continue as normal, despite its parent company filing for liquidation on June 4, according to a senior official of the Singapore-based oil and gas exploration company.

The Singapore-listed company on June 4 announced to its shareholders that it filed a winding-up petition to the Grand Court of the Cayman Islands and a hearing date will be fixed, saying it “is unable to pay its debts based on actual and/or contingent liabilities and will proceed to liquidation”.