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India, Singapore Companies Sign Oil Deals with Burma


Oil companies from India and Singapore have signed a deal with Burma's military government to jointly explore for gas and oil off Burma's western Rakhine coast.

Under terms of the deal released today India's state-owned GAIL company and Singapore's Silver Wave Energy will jointly drill in the offshore area known as Block A-Seven. GAIL will control a 30% interest in the production while Silver Wave will hold the remaining 70%.

The deal means the GAIL company now controls a stake in at least three energy exploration blocks in Burma.

The international group Human Rights Watch has been critical of India's continued investment in Burma, saying it is merely propping up Burma's military government.

Information for this report is provided by AP, AFP and Reuters.

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