Offshore staff
(Asia-Pacific) - The Myanmar government has approved a 10% equity stake of Indian state gas company Gail Ltd. in the Gulf of Martaban A-3 block, where initial gas discovery was made recently by South Korea's Daewoo International.
Gail had earlier reached an agreement with Daewoo for the 10% stake in the 6,780-sq km block on the basis that it would import the discovered gas.
Gail says it was also the preferred buyer of Daewoo's share of the gas deposit, which was being further appraised with drilling being planned before the end of this year.
A further A-3 gas discovery as well as the reserves of the adjacent A-1 would support its massive gas import plan from the Gulf fields, says Gail.
Gail is to complete a detailed feasibility study of a pipeline, partially onshore through North East India, by end of April 2006.
India would be the second largest market for Myanmar gas, which presently was being exported to Thailand through offshore-onshore pipelines.
04/01/06
