News : Myanmar opposition asks junta for Suu Kyi meeting

YANGON (AFP) - Myanmar's opposition National League for Democracy (NLD) on Friday urged the ruling junta to allow its detained leader Aung San Suu Kyi to meet senior party members.

The NLD also repeated its call for the military to free Aung San Suu Kyi and her deputy Tin Oo, and said the junta should allow senior party members to meet them while they are in detention.

"The authorities should allow these two leaders and other central executive committee members to meet so they can discuss freely," the party said in a statement.

Nobel Peace Prize winner Aung San Suu Kyi has spent 12 of the past 18 years under house arrest at her rambling lakeside home in Yangon, deprived of almost all contact with the outside world.

Amid stiff international pressure on the regime following its deadly crackdown on pro-democracy protests in September, the junta appointed Labour Minister Aung Kyi to coordinate official contacts with her.

The two have met four times since the military opened fire on peaceful protesters in the streets of Yangon, leaving at least 31 dead and 74 missing, according to a UN report.

- Borneo Weekwnd Online January 19, 2008 -

News : Singapore's Changi eyes stakes in 10-15 Asian airports

by Reuters

SINGAPORE: Singapore's Changi Airports International aims to spend up to $700 million within the next five years on stakes in 10 to 15 airports in the region to strengthen its Asian presence, its chief said on Saturday.

"Over the next three to five years, we hope to spend roughly $600-700 million ... We're working on five regions: China, India, the Middle East, Russia and Vietnam," Chief Executive Chow Kok Fong told media.

Changi Airports already has a presence in China, Russia and India. It paid $138 million last January for 29 per cent of China's Nanjing Lukou International Airport, and has management contracts with airports in Russia and India.

In July, it entered a joint venture with China's Shenzhen Airport Group to invest in and manage up to 50 airports in China. Globally, airports such as Germany's Fraport, Amsterdam's Schiphol Group and South Korea's Incheon International are also seeking stakes in airports in emerging markets like India, the Middle East, and China to benefit from their rapid growth.

Changi Airports is the overseas investment arm of the Civil Aviation Authority of Singapore, which owns and operates the city-state's Changi Airport.
- The Economic Times January 05, 2008 -

News : E. Timor: IOC, Oil India may partner Reliance Ind

Block record

E. Timor block, spread over 2,384 sq km, has proven reserves.

IOC, OIL each looking at 12.5% equity stake in project.

Participating interest also includes sharing risks involved.

Farm-in activity is common among global oil exploration cos

by Richa Mishra

New Delhi, Dec. 30 Decks have been cleared for two of India’s large oil sector companies, Indian Oil Corporation and Reliance Industries Ltd, to jointly undertake oil and gas exploration abroad.

IOC, along with Oil India Ltd, is now expected to join hands with RIL for exploration in the latter’s oil block in East Timor.

Both the State-owned companies have obtained approval from their respective Boards to acquire equity in RIL’s asset as farm-in partners.

The two companies will now work on a final agreement with RIL. Official sources told Business Line that “the IOC Board which met on Friday approved its participation in the project. OIL Board has already given its nod. The approval of the respective Boards was taken after the technical teams of IOC and OIL expressed satisfaction on the data made available by RIL.”

Stake Count

Indications are that both IOC and OIL are looking at an equity stake of 12.5 per cent each in the project. RIL will hold a majority stake in the block and will be the operator of the area which is spread over 2,384 sq km.

In May 2006, RIL had won a block in East Timor. RIL had bid for two of the 11 offshore blocks tendered by East Timor, but could manage only one contract area. The company had bid for area ‘K’ and area ‘E’, but won only the former.

RIL has now signed an agreement to explore for oil and gas in East Timor and it will explore the offshore area in contract area ‘K’ that has proven reserves in the Australian North West Shelf and is adjacent to the Timor Sea.

This region contains discoveries such as Bayu-Undan (commenced production in 2004) and Greater Sunrise.

Farm in Activity

The State-owned companies have been in talks with RIL for farm-in opportunities for them in the existing overseas assets of RIL.

A farm-in activity, which is very common among global oil and gas exploration companies, allows an entity to come in as a partner.

As a farm-in partner, a company is not required to acquire the asset directly, but develop the property by taking participating interest in the block.

The company also shares the risk involved in the exploration activity with the operator.

Currently, IOC has seven overseas assets (excluding the recent gas blocks acquired in Libya) through consortium approach.

- Business Line December 30, 2008 -