Warning over lost advantage if maritime MoU scrapped

A government source said the 2001 MoU was the starting point for further negotiations on sharing economic benefits in overlapping territorial waters covering 26,000 square kilometres.

Based on the MoU, Thailand and Cambodia can negotiate to jointly develop the area in a way similar to that of the Thai-Malaysian Joint Development Area.

"If we scrapped the MoU, we would have to negotiate the principles again - and we may not get conditions as good as those in the current MoU," said the source.

At present, several companies such as Chevron, BG Asia and PTT Exploration and Production hold petroleum exploration concessions granted by Thailand.

Kurujit Nakorntab, director-general of the Mineral Fuels Department, said Parliament would have to approve the termination of the Thai-Cambodian MoU, which was being sought by the Cabinet following the current diplomatic row with Cambodia.