# Thailand aims to restart talks with Cambodia over offshore field 

- Link: https://www.thailand-business-news.com/asean/cambodia/167998-thailand-aims-to-restart-talks-with-cambodia-over-offshore-field
- Published: 2024-10-22T07:44:00+07:00
- Author: Rithy Chey

**Thailand plans to resume negotiations with Cambodia over a disputed offshore oil
and gas field, potentially worth $300bn, to address declining gas production and
rising energy costs.**

---

Thailand is rekindling discussions with Cambodia over an offshore oil and gas field
valued up to $300 billion, a site at the center of an enduring territorial dispute
since the 1970s. The new Thai administration, led by Prime Minister Paetongtarn 
Shinawatra, regards joint exploration as a critical objective to address diminishing
gas reserves and rising utility costs.

### Related**Posts**

###  󠀁[Thailand faces a fresh LNG squeeze as Hormuz crisis pushes prices toward US$28/MMBtu](https://www.thailand-business-news.com/markets/commodities/330458-thailand-faces-a-fresh-lng-squeeze-as-hormuz-crisis-pushes-prices-toward-us28-mmbtu)󠁿

###  󠀁[Thailand faces a sharper power-cost risk as LNG prices threaten electricity tariffs](https://www.thailand-business-news.com/markets/commodities/329392-thailand-faces-a-sharper-power-cost-risk-as-lng-prices-threaten-electricity-tariffs)󠁿

###  󠀁[Thailand Emphasizes Maritime Boundary as a Key Focus in UNCLOS Talks](https://www.thailand-business-news.com/asean/cambodia/329235-thailand-emphasizes-maritime-boundary-as-a-key-focus-in-unclos-talks)󠁿

###  󠀁[New attack on Strait of Hormuz raises risk of a prolonged Asian energy shock](https://www.thailand-business-news.com/markets/commodities/328419-new-attack-on-strait-of-hormuz-raises-risk-of-a-prolonged-asian-energy-shock)󠁿

ADVERTISEMENT

This 26,000 km² area is estimated to contain around 10 trillion cubic feet of natural
gas and 300 million barrels of crude oil. While both nations have historically linked
territorial claims to resource development, Thailand’s urgent need for energy may
prompt a shift toward resource extraction before resolving the dispute.

Cambodian officials have expressed readiness to resume negotiations, contingent 
upon Thailand’s commitment. Natural gas plays a vital role in Thailand’s energy 
strategy, meeting 60% of its electricity needs. With its reserves projected to deplete
within the next decade, successful talks could benefit major energy companies stalled
by the territorial impasse.