Cambodia Sees Gulf of Thailand Resources Fueling ASEAN Growth Post-Dispute Resolution

PHNOM PENH, July 21, 2026 (KPT) – Keo Rottanak, Cambodia’s Minister of Mines and Energy, stated that resolving the long-standing maritime dispute with Thailand could unlock an estimated US$300 billion in offshore oil and gas resources in the Gulf of Thailand, creating a new engine of growth and energy security for Southeast Asia. In an opinion article published by Asia Times, Rottanak wrote that the disputed area is believed to contain nearly 12 trillion cubic feet of natural gas and about 700 million barrels of oil, resources left untapped for more than 25 years. He said responsible development could create thousands of jobs, attract international investment, and generate revenue to finance schools, hospitals, and public services. "Energy resources beneath the seabed have little value if they cannot be extracted for the benefit of society," he said, adding that further delays serve neither Cambodia nor Thailand. Cambodia’s ambition to become an upper-middle-income country depends on reliable energy supplies to support industrialization and competitiveness. He cited projects including the Funan Techo Canal, Techo International Airport, the expansion of Sihanoukville Autonomous Port, and the Phnom Penh-Sihanoukville Expressway as evidence of the country’s long-term strategy. The minister stressed that Cambodia has consistently pursued peaceful resolution of the maritime dispute and described the decision to initiate compulsory conciliation under the UN Convention on the Law of the Sea (UNCLOS) as the most effective path toward settlement. He welcomed Thailand’s decision to appoint conciliators and participate in the process, saying it provides a structured mechanism to bridge differences, restore investor confidence, and move toward joint development. Drawing on the Australia-Timor-Leste precedent, Rottanak said legal certainty is essential because private companies are unlikely to commit billions of dollars without confidence the dispute can be resolved. His remarks came a day after Cambodia accused Thailand of delaying efforts to resolve both maritime and land boundary issues. Government spokesman Pen Bona said Thailand had deliberately stalled the border demarcation process and urged Bangkok to return to talks under the 2000 Memorandum of Understanding and a 2025 joint statement. Rottanak stressed that the Gulf of Thailand’s true value would be measured not only by the energy it produces or the revenue it generates, but also by the jobs, businesses, and opportunities it creates for millions across Southeast Asia.