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Cambodia pumps its first oil in win for embattled KrisEnergy

Singaporean company hails 'historic' milestone but debt issues loom

Singapore's KrisEnergy pumped the first oil for Cambodia in late December. (Photo courtesy of KrisEnergy)

PHNOM PENH -- Singaporean-listed KrisEnergy has pumped the first drops of oil from a commercial well in Cambodia, marking a major milestone in the country's more than two decade quest to produce petroleum.

The development, announced on Tuesday, also provides some positive news for the company as it tries to restructure debts of more than $500 million while under court protection from creditors.

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