Prime Group, a Singapore headquartered international investment platform focused on resource development, has announced a proposed strategic move into Southeast Asia through the planned acquisition of a controlling interest in the Apsara oil field offshore Cambodia. The transaction is being pursued through the Group’s affiliate and remains subject to due diligence, definitive agreements, and regulatory approvals.
The Apsara field is recognized as Cambodia’s first producing oil field and has been the subject of prior appraisal and development activities. Historical technical work conducted by previous operators confirmed the presence of commercial oil across multiple wells and established a base of seismic and subsurface data to inform future development planning. This existing dataset is expected to support further technical evaluation as Prime Group conducts its review. 
The proposed transaction contemplates the acquisition of up to a 70 percent participating interest and the formation of a joint venture structure under which Prime Group would assume a leading operational and managerial role, if completed. An exclusivity period has been granted to allow for comprehensive technical, legal, and commercial due diligence. Any final investment decision will be contingent on satisfactory findings and all required government consents.
Karim Bouhout, CEO of Prime Group, stated that the initiative reflects the company’s disciplined approach to portfolio growth and capital deployment. He noted that the Group evaluates opportunities where historical data, asset backing, and regional demand fundamentals can align to support long term value creation. He added that Southeast Asia represents a region of growing economic and energy relevance, making it a logical area for selective expansion.
The proposed acquisition also aligns with Prime Group’s broader preparation for a planned Singapore Exchange listing. As the company moves toward public markets, it has indicated a focus on building a diversified portfolio of tangible, resource based assets with identifiable development pathways.
Prime Group has recently announced access to significant funding facilities intended to support strategic investments in energy, mining, and related sectors. The company states that capital deployment decisions are guided by risk management, asset quality, and potential for sustainable cash generation.
There is no certainty that the Apsara transaction will be completed under the currently contemplated terms or at all. Prime Group emphasized that all announcements at this stage reflect intent and ongoing evaluation 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 Group structures long term partnerships and investments aimed at developing resource assets and in region value creation. It maintains activities across multiple jurisdictions and is progressing toward a planned public market listing.
