Monday, March 06, 2006

Oil and Gas: Myanmar reports more gas found in offshore block

According to Myanmar's official newspaper New Light of Myanmar, Natural gas deposits have been found at the Mya field in block area A-3 in western Myanmar's Rakhine offshore area.

It was estimated that the Mya field contains 2 trillion cubic-feet (TCF) or 56.63 billion cubic-meters (BCM) of gas, and is being explored by a consortium of foreign oil companies, led by South Koreas Daewoo International Corporation.

Myanmar intends to sell the gas to neighboring countries such as India and China.