Cambodia and Iran Set to Sign Oil and Gas Deal
Cambodia will sign a memorandum of understanding to cooperate in the oil and gas industry with Iran as soon as possible, Foreign Affairs Minister Hor Namhong said yesterday.
The MoU was discussed during a meeting between Mr. Namhong and outgoing Iranian ambassador Hossein Behineh at the ministry’s headquarters yesterday.
Chum Sunry, a spokesman for the ministry, indicated that the MoU would likely be signed when Mr. Namhong visits Iran early next year.
The MoU will also strengthen bilateral ties, Mr. Sunry said. “The two countries will strengthen cooperation in all sectors for the benefit of the people of the two counties,” he added.
“Both Cambodia and Iran wish to see the signing of the memorandum to cooperate with each other in the oil and gas industry as soon as possible,” Mr. Sunry said.
Cambodia and Iran opened diplomatic relations in 1992. However, there is little business between the two countries.
Exploration for oil and gas is being conducted off Cambodia’s coast. Cambodia also has an overlapping claim area with Thailand in which there may be untapped oil and gas fields.
Iran is in the process of emerging from sanctions imposed by Western nations over its nuclear program, after a deal to monitor this program was reached in July. This deal allows the country to export more oil.