PHNOM PENH – According to a report by The Business Times, the severe global energy crisis sparked by Middle East tensions has heightened Cambodia’s urgency to resolve its decades-long Overlapping Claims Area (OCA) dispute with Thailand.
Cambodia’s Minister of Mines and Energy, Keo Rottanak, emphasized that the ongoing crisis has brought national energy security into sharper focus.
He noted that while Cambodia is leaning heavily on renewable energy and imported oil to cushion the immediate economic shock, its long-term industrialization depends on unlocking the 27,000-square-kilometer disputed area in the Gulf of Thailand.
The region is estimated to hold 11 trillion cubic feet of natural gas and massive oil reserves, valued at roughly US$300 billion.
Minister Rottanak stated that major international energy firms, including TotalEnergies, are eager to begin offshore exploration but require geopolitical certainty before committing funds.
Following Thailand’s unilateral termination of a 25-year-old joint exploration agreement, Rottanak revealed that Cambodia plans to utilize a UN-backed compulsory conciliation process under the Law of the Sea (UNCLOS) to amicably settle the boundary. He warned that a swift resolution is crucial, as prolonged delays risk permanently deterring international financing away from the project.