TEXACO GROUP GETS BLOCK OFF MYANMAR

A group led by Texaco Exploration Myanmar Inc. has obtained a third production sharing contract (PSC) off Myanmar. The latest PSC, with national oil company Myanmar Oil & Gas Enterprise (MOGE), involves the 3.1 million acre Block M-12 off peninsular Myanmar. Partners are Premier Myanmar Ltd. and Nippon Oil Exploration (Myanmar) Ltd. The group currently holds PSCs for Blocks M-13 and M-14, which Premier acquired in May 1990. Texaco and Nippon Oil acquired a farmout on the earlier two blocks

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