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Cambodia's oil dream dealt blow as driller files for liquidation

KrisEnergy derailed by debt and disappointing output at Apsara field

KrisEnergy holds interests in eight licenses in Bangladesh, Cambodia, Indonesia and Thailand. (Screenshot from KrisEnergy's YouTube channel)

PHNOM PENH -- The company operating Cambodia's only active oil field has collapsed under its debt, dealing a blow to the country's hopes of becoming a significant oil producer.

In an announcement on Friday, Singapore-listed KrisEnergy said it was unable to pay its debts and "will proceed to liquidation."

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