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South Korea Discovers Offshore Gas Field In Burma - 2004-01-16


A South Korean conglomerate says it has discovered a major offshore gas field in western Burma.

Daewoo International estimates the size of the reserves could be the equivalent of more than one billion barrels of crude or liquefied natural gas.

France's Total and the U.S. company Unocal are the only two major western oil firms operating in Burma after others withdrew under pressure from governments and human rights groups.

The Reuters news agency says the void is being filled by state-controlled Asian oil firms like Malaysia's Petronas and China's National Petroleum company.

Information for this report is provided by Reuters.

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