Posco Daewoo to invest $94.2 mn for gas well development in Myanmar

Posco Daewoo Corp., the energy development unit of South Korean steelmaker Posco, will develop new subsea wells for stable gas production near its offshore production base in the A-3 block in Myanmar with an investment of $94.2 million. Drilling of three new wells will start in the first quarter of 2020, the company announced Monday. […]

Daewoo International CEO dismissed over Myanmar sale

POSCO has decided to dismiss Daewoo International CEO Jeon Byeong-eal for openly disapproving of its plan to dispose of Daewoo’s stake in a Myanmar natural gas project, officials familiar with the matter said Wednesday. The world’s fourth-largest steelmaker is expected to accept the resignation tendered by Jeon on May 14. Jeon and 31 other heads […]