10-06-02 Myanmar produced a total of 820, 000 barrels of crude oil in the first two months of this year, 12 % more than the same period of 2001, according to the latest data issued by the country's Central Statistical Organization (CSO). During the period, the country yielded 1,431.53 mm cm of natural gas, slightly down by 0.7 % from the corresponding period of 2001.

Meanwhile, during the two-month period, the country imported 14. $ 59 mm worth of crude oil to meet its domestic demand, the figures show. In 2001, Myanmar produced a total of 4.696 mm barrels of crude oil and 8,804.1 mm cm of natural gas. During the year, the country imported $ 217.55 mm worth of crude oil and exported 5,608.58 mm cm of natural gas, earning $ 523.13 mm of foreign exchange.

Other official statistics show that since Myanmar opened to foreign investment in late 1988, such investment in the oil and gas sector has reached $ 2.563 bn. These investments include those under 34 contracts in exploring oil and gas at 47 inland blocks and 15 joint venture contracts in the same undertakings at 25 offshore blocks in the Mottama, Tanintharyi and Rakhine coastal areas.