Staff Report
Prime Group, a Singapore-headquartered international investment platform focused on resource development, has announced a proposed strategic expansion into Southeast Asia through the planned acquisition of a controlling interest in the offshore Apsara oil field in Cambodia. The potential transaction is being pursued through a Prime Group affiliate and remains subject to due diligence, definitive agreements, and regulatory approvals.
The Apsara field is widely known as Cambodia’s first producing oil field and has undergone prior appraisal and development campaigns. Historical technical studies by earlier operators confirmed commercial oil across several wells and generated seismic and reservoir data intended to guide phased development. This existing technical foundation will be reviewed as part of Prime Group’s evaluation process.
The contemplated structure includes the acquisition of up to a 70 percent participating interest and the creation of a joint venture in which Prime Group would hold a leading operational and managerial role if the transaction proceeds. An exclusivity period has been granted to enable detailed technical, legal, and commercial assessments. Any final agreement will depend on satisfactory due diligence results and all necessary government approvals.
Karim Bouhout, CEO of Prime Group, said the move reflects the company’s disciplined and selective approach to international growth. He noted that Prime Group prioritizes assets supported by historical data, tangible resource value, and credible development pathways. He added that Southeast Asia’s economic trajectory and energy demand profile make it a region of strategic interest for the Group.
The proposed acquisition also fits within Prime Group’s broader roadmap as it prepares for a planned Singapore Exchange listing. The company has communicated its intention to build a diversified portfolio of asset-backed projects with potential for long-term value creation and operational scalability.
Prime Group has recently disclosed access to substantial funding facilities to support investments in energy, mining, and related sectors. According to the company, capital deployment decisions are guided by asset quality, risk discipline, and the prospect of sustainable returns.
Prime Group emphasized that there is no certainty the Apsara transaction will be completed as currently outlined or completed at all. The announcement reflects ongoing evaluation and strategic intent rather than a finalized acquisition.
About Prime Group
Prime Group is a diversified international investment and trading platform focused on energy, mining, and agricultural assets. Headquartered in Singapore, the company structures long-term partnerships and investments aimed at developing resource assets and in-region value creation. Prime Group operates across multiple jurisdictions and is progressing toward a planned public market listing.
