On 6 December 2006, GAIL, as consortium partner, along with Silver Wave Energy of Singapore, signed a production-sharing contract with Myanmar Oil and Gas Enterprise for the block located in Rakhine offshore area of Myanmar. GAIL has acquired stake in Block A-7 in Myanmar.

GAIL will hold 30 per cent of the asset, while Silver Wave Energy will be the operator of the block with 70 per cent stake. The block will be developed in phases. Under Phase I, the consortium is going to study the prospects of the block.

GAIL now holds a participating interest in 17 exploration blocks in the country and abroad, along with national and international consortium partners. Of these, seven are on-land blocks and 10 are offshore blocks. In India there are 13 blocks, which are in basins such as Mahanadi, Bengal, Gujarat - Saurashtra, Mumbai, Cambay, Assam-Akaran and Cauvery.

Also See:

Gail's Myanmar reserves estimated at 5.7-10 tcf (17-Aug-06)