KrisEnergy to consider selling stake in Block A
Singapore-listed KrisEnergy Ltd is considering selling or farming out a stake in its Cambodia Block A offshore oilfield to ease its debt burden, according to the company’s 2016 year-end report. The oil and gas company posted $237.1 million in net losses for the 2016 fiscal year due to non-cash charges and higher financial costs, it said in a document released on February 23. This was despite net revenue more than doubling over the same period, increasing by 137.3 percent to $142.8 million. The firm said that it would consider selling its stake or farm out the development of the G10/48 Wassana oil field in Thailand as well as the Cambodia Block A field to increase cash flow.
