South Korea's Daewoo International has signed an agreement with three international investment partners to explore a gas field in Burma.
The agreement calls for Daewoo, along with South Korea's state-run gas developer "KoGas", and India's two state-run developers - Oil and Natural Gas Corporation and the Gas Authority of India - to start exploring a gas field in the sea off Burma's western coast, called Block A-3.
Under the plan, Daewoo will fund 60% of the project, while the other three companies will invest between 10 and 20%. Officials with Daewoo International say initial tests show the undersea field has major potential.