BUSINESS — Singaporean oil firm expands in Magwe

Gold Petrol, majority owned by Singaporean conglomerate Interra, has expanded drilling projects in Chauk, Magwe Division. Interra announced to the Singaporean stock exchange on Friday that Gold Petrol has expanded drilling to a fourth oil reservoir in the area, having tapped the previous three in March 2013. Gold Petrol hold a 60 percent stake in the Improved Petroleum Recovery Project at Chauk field, with the other 40 percent owned by the state-owned Myanma Oil and Gas Enterprise.