Thailand, Burma sign gas deal

26/06/2008 02:49:57

A Thai energy firm has signed a major deal to drill for natural gas in Burma.

PTT Exploration and Production signed an agreement with the military junta to develop the M9 block in the Gulf of Martaban.

PTTEP will work with the state-run Myanmar Oil and Gas Enterprise to develop the field.

The field is expected to produce 300 million cubic feet of gas per day, with 80 per cent exported to Thailand and the rest supplying Burma.

Thailand's The Nation newspaper reports that the project would entail an investment of about $US2 billion.

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