On Tuesday afternoon, Deputy Prime Minister and Council Minister  Sok An had signed an agreement with the Japan Oil, Gas and Metals National Corporation, or Jogmec, in order to open the possibility of exploration on the northern edge of the Tonle Sap lack. The company will cooperate in the evaluation of business opportunities, researching technology and potential drilling.

Jogmec Executive Director Akira Suzuki was quoted by the VOA calling the agreement a first step in further oil and gas development between Cambodia and Japan. The state-run company would also be open to more private-sector development in the future.

Sok An said Tuesday the Jogmec deal will help bolster the economy with job opportunities. And Chiaki Takahashi, vice minister of economy and trade for Japan, said he hoped the development of oil and gas here would help Cambodia become a “famous nation,” reported VOA Khmer.

Jogmec’s predecessor, the Japan National Oil Corporation, surveyed Cambodia for onshore oil reserves between 1997 and 1999. Jogmec and Mitsui Oil Exploration Co., Ltd., will examine data from the survey, according to a joint statement by the government and the company. If the survey finds suitable oil reserves, Jogmec will work with Cambodia’s National Petroleum Authority for full exploration rights.

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