Thursday, February 21, 2008

Oil: Indian company adds to list of companies involved in oil and gas projects in Myanmar

Indian oil company, the Essar, will start drilling a test well to explore natural gas at an inland block in Myanmar's western coastal Rakhine state during this year under a production sharing contract with Myanmar initiated more than two years ago, the leading local weekly Yangon Times reported Wednesday.

There are 13 foreign oil companies, mainly from Australia, Britain, Canada, China, Indonesia, India, South Korea, Malaysia, Thailand and Russia, involved in oil and gas projects in Myanmar, according to official sources.