Koh Kong: In a meeting to promote the "current state of Cambodia's oil sector" on the morning of July 10, Mr. Nhek Someth, Undersecretary of State at the Ministry of Mines and Energy, said that oil resources are a valuable national capital for promotion and development. Socio-economic benefits will provide long-term benefits and improve the living standards of the Cambodian people.

Doing business to exploit these resources is a national investment for the benefit of the prosperous society and the well-being of all Cambodians.

At the same time, exploiting these resources is generally inevitable, with significant impacts on the social environment and especially on local communities, so the main mission of the Ministry of Mines and Energy is to adopt a vision that promotes the development and exploitation of the oil resources business. To maximize the negative impact on the social environment, as well as to protect and promote the interests of local communities to turn into investment in this sector with the highest socio-economic output and transparency.

"The vision and strategic framework set out and creating a complex journey will be difficult for all of us. However, on this initiative, a close and constructive partnership," he said. Confidence between the public, civil society and private sectors is a determinant of our success in all of our strategic directions, as well as ensuring the protection of the nation's long-term interests in the development of the oil and gas sector.

So far, we can assess that the implementation of the major reform programs in the oil and gas sector has been carried out with great care and will yield proud results. Implement key priority activities such as institutional capacity building, strengthening governance and management of oil operations, with an emphasis on policy formulation, regulatory and institutional reorganization, training and capacity building of civil servants, as well as tightening controls. And the effectiveness of the implementation of petroleum agreement obligations and the strengthening and quality and efficiency of non-fiscal revenue collection from the oil and gas sector, as well as the development of mechanisms and frameworks to strengthen environmental and social safety standards and strategic evaluation of environmental plans. In the oil project.

He stressed that the policy and priority activities of 2019-2023 of the Cambodian oil sector, the Ministry of Mines and Energy has a great mission to develop the oil sector to the fullest through exploration, development, production, processing, transportation, inventory and trade. Oil and gas to contribute to the socio-economic development and long-term interests of the nation and the well-being of the Cambodian people.