LONDON, March 26 Britain's BG Group said
it would explore for oil and gas off the coast of Myanmar later
this year, in line with its plan to enter a new geological basin
Myanmar, a country of 60 million people, is rich in gas
reserves, which government officials estimate at 11 trillion to
23 trillion cubic feet.
The country opened bidding for dozens of exploration areas
last year and has awarded the rights to BG as well as other
large oil companies including Statoil and
BG has been awarded positions in four blocks off the coast
"This award is in line with BG Group's strategy to focus on
securing prospective frontier acreage and enter, on average, one
new basin each year," BG said in a statement on Wednesday.
Recently the company, which produces oil and gas in the
North Sea and Brazil, has had success opening a new gas basin in
(Reporting by Sarah Young; editing by Kate Holton)