PetroVietnam Exploration Production Corp., a member of state-owned Vietnam Oil & Gas Group, plans to explore for oil and gas in Cambodia’s Tonle Sap Lake area.
Under the terms of a contract signed with the Cambodian National Petroleum Authority in Phnom Penh Thursday, PetroVietnam Exploration will do seismic and exploration work in the northeastern part of the Tonle Sap Lake in central Cambodia, according to an e-mailed statement from PetroVietnam.
Hanoi-based PetroVietnam Exploration, which will have 100 percent ownership over Block XV, covering about 6,900 square kilometers (2,664 square miles), can explore for oil for 30 years and gas for 35 years.
PetroVietnam Exploration is also involved in projects in Laos and Myanmar.
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