Premier in Burmese deal

AN Irish quoted oil company said last night it had concluded a deal to buy gas from a field off the coast of Burma. Premier Oil said the first production of gas and condensate from the Yetagun gasfield was expected in 1999. The company said it would provide it with a minimum of 8,500 barrels of oil equivalent per day, with a potential for double that amount, during the 15 year contract. Texaco owns half the field, with Premier and Nippon Oil holding 30 and 20 per cent respectively.