Daily News- September 02- 2002- Monday

  • EU mission to visit Myanmar next week
  • Daewoo to drill Rakhine gas
  • Myanmar forms cooperatives to help develop economy

  • EU mission to visit Myanmar next week

    YANGON,(AP)Myanmar - A European Union ( news - web sites) mission will arrive in Myanmar next week for a three-day visit, the first since the release of opposition leader Aung San Suu Kyi from house arrest in May, diplomats said Monday.

    The four-member E.U. mission will arrive Sept. 8, led by Carsten Nilaus Pederson, regional director at the Danish Foreign Ministry. The other members include two E.U. officials and the first secretary of the Greek Embassy in Bangkok, the diplomat said, speaking on condition of anonymity. Greece will take over the E.U. presidency in January.

    The E.U. team is scheduled to meet with Suu Kyi, government leaders, senior members of Suu Kyi's National League for Democracy party and some leaders of ethnic groups, the diplomat said.The European Union, one of the strongest critics of the ruling military junta, imposes heavy restrictions against members of the regime from traveling in Europe.

    The junta came to power in 1988 after crushing a pro-democracy movement. It called elections in 1990 but annulled the results after the National League for Democracy won. It has held reconciliation talks with Suu Kyi since October 2000 and but no substantial progress has been made.

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    Daewoo to drill Rakhine gas

    source :World Oil

    The Daewoo International of South Korea is planning to start drilling natural gas from a huge offshore gas field near Sittway in Myanmar's western Rakhine state by November next year, the local Myanmar Times reported today.

    The Rakhine gas field, estimated to have a gas reserve of about 13.4 trillion to 47.3 trillion cubic-feet (TCF) (379.2 billion to 1,338.5 billion cubic-meters), possesses the potential to be larger than Myanmar's two other major gas fields in production -- Yadana and Yetagun, the DI was quoted as saying.

    The Yadana in the gulf of Mottama and the Yetagun off Tanintharyii coast are reported to have 6.7 TCF (189.61 billion cubic-meters) and 3.2 TCF (90.56 billion cubic- meters) of gas respectively.

    The DI signed a production sharing contract on the exploration project with the Myanmar Ministry of Energy in August 2000 and it assigned 10-percent share to another South Korean company, KOGAS, in November 2001.

    According to official statistics, since Myanmar opened to foreign investment in late 1988, contracted investment in the oil and gas sector has so far reached 2.563 billion dollars.

    The investment includes those under 34 contracts in exploring oil and gas at 47 inland blocks and 15 joint venture contracts with the state-run Myanma Oil and Gas Enterprise under the ministry in the same undertaking at 25 offshore blocks at Mottama, Tanintharyi and Rakhine coastal areas.

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    Myanmar forms cooperatives to help develop economy

    YANGON, Sept. 2 (Xinhuanet) -- Myanmar has formed cooperative societies in agricultural, livestock breeding and fish and prawn breeding sectors to help develop economy in the country's rural areas.

    According to the figures released by the Myanmar Ministry of Cooperatives on Monday, the number of cooperative societies established in the agricultural sector has come to 7,760, while that in the livestock breeding sector to 975 and that in the fish and prawn breeding sector to 102.

    Meanwhile, according to other official sources, cooperative societies have also been formed in other sectors such as industrial producers' cooperatives in the industrial sector, credit cooperatives in the financial sector and trading and exporting cooperatives in the trade sector. Myanmar promulgated its Cooperative Society Law in 1992 with the aim of creating opportunities to widely do business in line with the market-oriented economic system introduced since 1988. The country's cooperative sector contributes about 2.1 percent to its gross domestic product.

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