Chevron outlines drilling plans off Cambodia

Chevron Overseas Petroleum (Cambodia) Ltd. reported plans to drill 10 wells off Cambodia by yearend 2007 as outlined in a joint-study agreement with the Cambodian government.

July 10, 2006

By OGJ editors
HOUSTON, July 10 -- Chevron Overseas Petroleum (Cambodia) Ltd. reported plans to drill 10 wells off Cambodia by yearend 2007 as outlined in a joint-study agreement with the Cambodian government.

The wells on Block A will assess two of four oil discoveries made during 2004-05.

Chevron plans to drill five wells this year and five in 2007. It operates and holds a 55% interest in Block A, which covers 1.6 million acres in the Gulf of Thailand.

In an exploration program that ended in 2005, Chevron processed 3D seismic data on more than 600,000 acres and drilled five wells, resulting in four discoveries.

Partners are Moeco Cambodia Ltd., 30% interest, and GS Caltex Corp., 15%.