S.Korea's Daewoo to explore Myanmar gas field

SEOUL, Feb 26 (Reuters) South Korea's Daewoo International Corp. said on Monday it has secured exploration rights to an oil field in Myanmar.

The trading company has secured a 100 percent stake in the oil field, and the amount of investment will be announced by Seoul's energy ministry later in the day, the company said.

Daewoo has already secured A-1 and A-3 gas fields in Myanmar that have an estimated combined proven reserves of 5.7-10.0 trillion cubic feet (TCF), with up to 8.6 TCF recoverable, enough to meet all of South Korea's demand for about seven years.

REUTERS SBA RN0721