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GAIL signs historic pact for equity participation in A-3 Block, Myanmar

Mumbai, October 03, 2005 

GAIL (India) Limited today signed a historic agreement in Seoul for equity participation in the A-3 Block in off-shore Myanmar. The agreement was signed between GAIL, Daewoo Corporation and Kogas of Korea. The A-3 block is situated adjacent to the recently discovered A-1 Block with estimated reserves of 5 tcf. (P50 reserves). 

GAIL is a consortium partner in A-1 block and is the preferred buyer for the gas produced from the A-1 Block. GAIL has been considered as the preferential buyer to buy Daewoo’s share of natural gas from the A-3 block. 

The A-1 block is set to start commercial production in the coming 3 to 4 years. In the event of gas discoveries in A-3 block, the combined potential of the region will be immensely enhanced.

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