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Burma Says Texco Inc. Finds New Gas

 RANGOON, Nov 3 (Reuters) - Burma's state oil enterprise and a unit of Texaco
Inc <A HREF="aol://4785:TX"><TX.N></A> discovered a new oil and natural gas
field off the southern coast of Burma, official newspapers reported on

The state-run media said the Myanmar Oil and Gas Enterprise (MOGE) and Texaco
Exploration Myanmar Inc, a subsidiary of U.S.-based Texaco, has discovered a
field which can yield oil and natural gas on a commercial scale off the
Taninthayi coast. 

The new well, officially named Aung Zeya Test Well No.1, is located within
Block M-12, 25 miles northwest of Yetagun field. 

Texaco has a 35.42 percent stake in the Yetagun field and will sell 200
million cubic feet per day of natural gas from the filed to Thailand,
starting in 1999, for 30 years. 

Texaco and MOGE officials were not available for comment. 

The newspaper did not give any more details. 


00:58 11-03-97