BUSINESS – Chevron inks oil deal with MOGE

Chevron Corp. announced on 24 March that its subsidiary, Unocal Myanmar Offshore Co, has entered into a production-sharing agreement with state-run Myanma Oil & Gas Enterprise (MOGE), to explore for oil and gas in Block A5 off the Arakan coast. The US firm also produces natural gas from the Yadana and Sein fields in the Andaman Sea, and has a 28.3 percent non-operated interest in transporting most of the natural gas to power plants in Thailand.