Apsara field
The Apsara field is a subsea oil field in Cambodian waters in the central Gulf of Thailand. Oil was discovered in the area in the early 2000s, but was produced only briefly in the early 2020s before the project collapsed after failing to meet production targets. History In 2002, Chevron acquired development rights to the region, and discovered oil in 2004. Chevron was unable to negotiate financial terms with the Cambodian government to develop the field, and in 2014 sold its rights to a region, including what would be developed as the Apsara field, to Singapore-based KrisEnergy for $65 million. In August 2017, KrisEnergy and Cambodia announced that wells would be drilled in the field in the following years, with Cambodia taking a 5% ownership stake in the field, which would be the first to produce oil within the country. Apsara was expected to yield about $500 million for the government from a production of about 30 million barrels of oil over nine years. At the time, KrisEnergy expected to ship the first oil within two years from a single platform, with as many as ten operating at full buildout. Development of Apsara was delayed while KrisEnergy arranged financing for