Commodity Online

PHNOM PHEN: Cambodian National Petroleum Authority ( CNPA ) on Wednesday announced its intention to start oil production by 2011.

Te Duong Dara, director general, CNPA announced this decision while attending an industry seminar here.

Foreign drillers are now searching for oil and natural gas in six blocks in off sea Cambodia. U.S. petroleum giant Chevron once claimed it had found the resource in wildcat wells, while other drillers remained silent.

Experts used to put the potential reserves of oil in off sea Cambodia at two billion barrels, but the Cambodian government usually appeared unsure of all the estimations.

Cambodia Deputy Prime Minister Sok An also told the seminar that the oil industry in blueprint will be vital for the sustained economic growth of the country.