Daewoo to Begin Exploration offshore Myanmar

Daewoo will begin exploration operations offshore Myanmar on Block A1 in November. The block is estimated to hold between 13.4 - 47.3 Tcf of natural gas. Depending on the exploration results, this could be the largest natural gas field offshore Myanmar. The other two fields, Yadana and Yetagun each hold over 5 Tcf of natural gas.

Daewoo is operator of the block with a 60% interest; ONGC hold 20%; GAIL holds 10% and KOGAS holds 10%. The block was awarded to Daewoo in August 2000.