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Bangladesh Says Korean Firm Stops Work for Burma in Bay of Bengal

Bangladeshi authorities Friday said a South Korean company hired by Burma to explore for oil and gas in the disputed Bay of Bengal is withdrawing.

Tensions appear to be easing after a five-day standoff that saw both Burma and Bangladesh deploy warships to the disputed waters.

Bangladesh's top diplomat Iftekhar Ahmed Choudhury said the South Korean industrial giant Daewoo and the South Korean government have informed Dhaka that the company has started dismantling its hydrocarbon exploration equipment. He said full withdrawal will take a few days.

Dhaka lodged a formal protest after Burmese ships started drilling in the Bay of Bengal earlier this week.

Burma says it will not give up on its gas exploration efforts. Burma on Thursday said it was respecting international law and called it unlawful and wrong for Dhaka to demand an end to the work.

Bangladesh sent a delegation to Burma to discuss the situation. Envoys from both countries should meet again on November 16 and 17.

Some information for this report was provided by AFP, AP and Reuters.