Mar 22, 2015

Energy firms BG, Woodside to invest $1.1 billion in four Myanmar blocks

Britain's BG Group and Australia's Woodside Petroleum Ltd will invest up to $1.08 billion to explore for oil and gas in four blocks off the coast of Myanmar's western Rakhine state, a senior Energy Ministry official said on Sunday.

The two firms were the winners of two shallow water blocks and two deepwater blocks in the country's auction last year.

"Operations at the shallow blocks will take $545.5 million at the minimum, while that at deep-sea blocks will cost $535.1 mil ..

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