Source : AFP, 12 Oct '07
By : AFP
  

A regulatory body, The Tonle Sap Basin Authority, has been established to coordinate "studies for oil exploration" with private firms, said Tao Seng Hour, who will head up the organisation.

	Sunrise over the Tonle Sap

"We will make sure that there is no pollution from exploration," he told the English-language Cambodia Daily.

But some observers have cautioned against the move, saying it could damage the fragile ecosystems found around the largest freshwater lake in Southeast Asia.

No estimates have been released about how much black gold could lie underground in the Tonle basin, a 16,000-square-kilometre (6,200-square-mile) ring surrounding the great lake, but its presence is thought likely.

In 1997 the lake and surrounding floodplain -- home to endangered wildlife -- were designated a UNESCO Biosphere Reserve, although natural resource extraction was still permitted.

But Cambodian Prime Minister Hun Sen has said he opposes designating the area a World Heritage Site, saying such protected status would hinder any fuel exploration there.

The new regulatory body will include ministers, oil officials and members of the Apsara Authority, which manages the Angkor temples.

Cambodia has been gripped by oil fever since the US energy giant Chevron discovered undersea reserves off the country's southern coast in 2005.

Hundreds of millions of barrels of oil are thought to lie off-shore, raising hopes that it could help pull Cambodia out of poverty.

Several foreign oil companies have negotiatied with Cambodia over exploration rights. Production is expected to start by 2010.