China and Thailand coordinate Myanmar gas agreement

Vietnam News 10/04/2008
Ha Noi (VNA) - Thailand's top oil exploration firm PTTEP and China's largest offshore oil producer CNOOC have reached an agreement to swap their interests in oil and gas blocks in Myanmar, foreign news reported.

Under the deal signed on April 9, Thailand's PTT Exploration and Production will swap stakes of 20 percent interest in the M3 and M4 blocks with the A4 and C1 blocks held by China National Offshore Oil Corporation (CNOOC), according to Thai PTTEP’s statement.

The offshore M3 and M4 blocks in the Gulf of Martaban have good potential for natural gas, the A4 block off Myanmar's western Rakhine coast has potential for natural gas, while onshore C1 block has potential for crude oil, said the statement.-Enditem