BG Group wins Myanmar rights

BG Group yesterday revealed plans to explore for oil and gas off the coast of Myanmar later this year, in line with its plan to enter a new geological basin each year.

EU sanctions against Myanamar were permanently lifted last year, two and a half decades after a military regime overruled the election of Aung San Suu Kyi. Myanmar has awarded the rights to BG as well as other large oil companies including Norwegian group Statoil, Shell and Total.