(Photo= provided by POSCO International)

 

[Alpha Biz= Reporter Kim Jisun] POSCO International (047050) announced on the 27th that it has decided to make a joint investment in the Phase 4 development of the A-1 and A-3 offshore gas blocks in Myanmar.

The investment shares are as follows: POSCO International 51.0%, Korea Gas Corporation 8.5%, ONGC (Oil and Natural Gas Corporation of India) 17.0%, GAIL (Gas Authority of India Limited) 8.5%, and MOGE (Myanmar Oil and Gas Enterprise) 15.0%.

The total investment amount is 926.3 billion KRW. Development will commence next month, with gas production expected to begin in the third quarter of 2027.

 

 

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