Tuesday, February 27, 2024

Maritime dispute with Cambodia remains a hurdle for joint oil exploration

The Thai government faces political pressure at home and maritime border issues with Cambodia, working on jointly developing crude oil and gas reserves in the Gulf of Thailand.

The Thai-Cambodian Maritime Border Issue

The Thai government is struggling to address the ongoing maritime border issue with Cambodia while also pursuing joint development of crude oil and gas reserves. Cambodia’s PM Hun Manet’s visit to Thailand is expected to include discussions on these issues on February 7.

Overlapping Claims and Joint Development

The unresolved maritime dispute has created an overlapping area in the Gulf of Thailand, where the two countries have abundant oil and gas resources. The potential profits from a joint development scheme present an opportunity for both countries, although there are differing opinions on whether negotiations should occur while territorial disputes remain unsettled. Officials emphasize the importance of seeking a resolution, as Thailand’s natural gas reserves are depleting, urging both governments to work together to find a mutually beneficial solution.

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