Yangon, Sep 2 (Xinhua) South Korea's Daewoo International Company will invest $1.7 billion in gas exploration and production projects in western Myanmar, in which two Indian companies have a combined stake of 25 percent, a media report said Wednesday.

The gas produced from the Rakhine offshore area will be exported to China in 2013, the weekly Voice reported citing company officials.

The money will be used in the development of infrastructure at two blocks, A-1 and A-3, from where China would buy the gas for 30 years, the report said.

Starting 2013, the China National Petroleum Corp (CNPC) will import 7.3 billion cubic feet (206 million cubic meters) of natural gas daily from Shwe, Shwe Phyu and Mya fields at the blocks developed by a consortium of companies, it said.

Daewoo International holds 51 percent of stake in the consortium, while ONGC Videsh Ltd of India 17 percent, GAIL of India 8.