Phnom Penh (FN), Feb. 8 – Cambodian Prime Minister Hun Manet said that Cambodia and Thailand agreed to jointly extract oil from the Overlapping Claims Areas after about 20 years of deadlock.

The agreement was reached during Samdech Thipadei's Official visit to Thailand on 7 February 2024.

The premier spoke on Thursday (Feb. 8) at the annual meeting of the Ministry of Labour at Sokha Phnom Penh Hotel.

Samdech Thipadei further stated that the discussion on exploiting shared benefits between Cambodia and Thailand was driven by their mutual recognition of energy security as a crucial long-term strategy. Without energy, nothing can be achieved. Even human beings could do nothing without energy.

Moreover, the Overlapping Claims Areas also contained natural gas. Should Cambodia acquire oil and gas, selling them would boost government revenue. The extracted oil can be refined into gasoline or diesel, fostering local supply and job creation in expanding oil exploration zones.

Regarding the Overlapping Claims Areas, the premiers also discussed the maritime border negotiation with his Thai counterparts to safeguard national sovereignty.