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BG Group wins gas exploration deal in Myanmar

BG Group has won winning rights to explore for natural gas off Burma's coast. Official estimates suggest the country has up to 23 trillion cubic feet of natural gas available to exploit. Finding new sources of energy is vital for Burma to meet the needs of its growing economy. Statoil and ConocoPhillips have both recently established a presence in the country. The company said that it has secured non-operated acreage, located in the Rakhine Basin in the western offshore area of Myanmar. The blocks were awarded as part of the government's 2013 Offshore Bid Round.
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