Woodside Discovery in Myanmar Shows Reserves `Worth Chasing'
- Australian company sees offshore gas find as `encouraging'
- Woodside's partners in Myanmar include BG Group, Total SA
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Woodside Petroleum Ltd. discovered natural gas off the coast of Myanmar, a positive sign for global energy companies including BG Group Plc and Total SA that are exploring in the once-isolated southeast Asian country.
Woodside, Australia’s second-largest oil producer, will carry out more analysis of the discovery at the Shwe Yee Htun-1 exploration well in the Rakhine Basin off Myanmar’s west coast, the Perth-based company said Monday. The well encountered about 15 meters (49 feet) of so-called net gas pay.