The Start of Something Big

The last few years have brought a flood of new global E&P investment, as high prices have enabled international oil companies (IOCs) and national oil companies (NOCs) to explore virgin territory and prompted governments of consumer states to assess their vulnerability. And, while the focus remains the former Soviet Union and Africa, Cambodia appears gearing up for an oil boom. Should estimated reserves be proven, government revenues would expand rapidly as new investment, mot likely from Chinese firms, floods in. However, given the fragile central state, a sudden oil windfall would exacerbate, rather than moderate business environment risks for

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