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Burma Signs Oil Deal with China-Singapore Group - 2005-01-26


Burma's state owned oil company has signed a deal with a China-Singapore consortium to explore for oil and gas in Burmese territory.

The agreement, signed late Tuesday, calls for exploration in an offshore and two onshore blocks. It is the third set of contracts signed by the Myanma Oil and Gas Enterprise and the foreign firms.

Official figures give Burma two and a half trillion cubic meters of gas reserves and just over three billion barrels of recoverable crude oil reserves.

Information for this report is provided by Reuters.

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