Concerns over the management of oil and gas revenues by public and opposition parties, so far, there are 23 companies having been awarded rights to explore for oil and gas in Cambodia’s offshore but not all of them are operating.
By the way, the public expressed worried about the Cambodia’s management of its natural resources revenues that has come under increased scrutiny lately, with environmental and development groups warning its lacks the proper mechanisms to utilize an expected upsurge in revenue.
Son Chhay, Sam Rainsy Party Lawmaker, sent a letter dated on May 7, to Deputy Prime Minister Sok An requesting revealing information about which companies have been awarded the rights to prospect for oil and gas and about the management of revenues from those companies. He also requested revealing information about a US$28 million payment by French Oil Giant Total.
So far, French Oil Giant Total paid US$28 million to Cambodian government by stating that US$20 million was paid as a signing bonus, US$6 million put into a social-development fund and US$2 million was for the administration process.
All oil and gas revenues from payment by companies were paid into the account of the National Bank of Cambodia, which is administered by the Ministry of Economy and Finance, and the Cambodian National Petroleum Authority (CNPA). No any payments will be directed to an individual, such as government official.
Deputy Prime Minister Sok An said in a letter dated June 9 that “like other natural budgets, the money has a single exit and a single entry point with only one commander in chief and one chief of staff. He also added that “no payment has been paid directly to any government official. All payments must be made according to oil agreement and put into an account which is defined by the government.”
Son Chhay was quoted by VOA as saying that “I cannot accept this response; this response does not show transparency in managing payment from companies.” He also added that the use of funds has no transparency, no bank account and no procedures for keeping this fund. “This response means there are irregularities and no transparency.”
Mam Sambath, chairman and executive director of the NGO Cambodians for Resource Revenue Transparency, was quoted by the Post as saying that the premier’s announcement of the Total payment in April was a positive sign for future transparency, but that further disclosure is necessary.
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