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Energy

What next for Cambodia's oil dream after KrisEnergy collapse?

Hard-to-reach reserves and high projected costs cloud industry outlook

Cambodia's energy minister, Suy Sem, right, hands a sculpture containing the first drop of oil pumped by KrisEnergy to Defense Minister Tea Banh in Phnom Penh on June 9.   © EPA/Jiji

PHNOM PENH -- Encased in a teardrop of glass fixed to an elaborately decorated gold-colored pedestal, Cambodia's first drops of oil were memorialized at a ceremony on Wednesday, six months after being extracted from beneath the Gulf of Thailand.

Presided over by Cambodia's ministers for energy and defense, the long-planned event praised Prime Minister Hun Sen, to whom ultimate credit was given for realizing the country's decadeslong ambitions to pump petroleum.

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