Geologists say they have found evidence of new oil and natural gas reserves off Burma's western coast, off Arakan state.
The head geologist for Burma's main energy enterprise, Khin Maung Kyi, is quoted Monday in the official Myanmar Times newspaper as saying hydrocarbon deposits were found in deep water in the area.
The find was made by Burmese and French scientists surveying a 25,00 square kilometer undersea area.
The survey project is a joint venture between Burma and the French oil company, Total.
Khin Maung Kyi says he hopes the survey's findings will attract foreign investment in Burma.
The United States and the European Union have imposed harsh sanctions against Burma's military government for its poor human rights record and failure to enact democratic reforms.
Information for this report is provided by AFP.
