Cambodia begins UN-backed process to settle maritime dispute with Thailand

Cambodia has launched a United Nations-backed process to resolve a long-running maritime boundary dispute with Thailand. At stake is a potentially resource-rich area. Cambodia says the oil shock from the Iran war has given it new urgency to settle competing claims. Thailand's prime minister said he's not aware that Cambodia has started the conciliation process. In May, his government unilaterally terminated a 2001 agreement that set out a framework for negotiations. The overlapping maritime claims cover a 26,000 sqkm area in the Gulf of Thailand, believed to contain significant oil and gas reserves estimated to be worth around US$300 billion.