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Daewoo Int'l signs formal agreement for Myanmar gas exploration

From Yonhap News
2005/10/03 to this article.

SEOUL, Oct. 3 (Yonhap) -- Daewoo International Corp., a South Korean trading company, signed a formal agreement Monday with two Indian state-run oil and gas companies and a South Korean gas corporation to explore a gas field in Myanmar, the company said.

Under the agreement, Daewoo International will have a 60-percent stake in the project, while India's Oil and Natural Gas Corp. and the Gas Authority of India will invest 20 percent and 10 percent, respectively. South Korea's state-run Gas Corp. is to provide 10 percent of the investment for the project.


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