YANGON - FOREIGN investment in Myanmar's oil and gas sector hit a record US$471.5 million (S$682.7 million) in fiscal year 2006-07, accounting for more than 60 percent of the total, according to newly released government statistics.

Oil and gas, together with the power sector, accounted for more than 98 percent of all foreign investment, said the Ministry of National Planning and Development in its latest statistical survey report, seen on Monday. The remainder was in the fisheries sector.

The report said there was no new investment in mining, real estate, hotels, transport or manufacturing, which have attracted foreign investors in the past. Myanmar's financial year begins on April 1, and ends March 31.

Many Western countries either ban or discourage investment in Myanmar as a way of pressuring its ruling junta, which is shunned for its alleged poor human rights record and failure to hand over power to a democratically elected government.

The largest share - US$240.7 million - of the total investment in the oil and gas sector came from the United Kingdom. Singapore was next with more than US$160 million, according to the report.

Russia and South Korea also had large investments in the sector, the report said. It did not give details of the investments.

Companies registered in the listed countries, though, signed production sharing contracts with the Myanmar government during the period covered.

China, with spending of US$281.2 million, accounted for all of the 36.8 per cent share of foreign investment represented by the power sector, the report said.

Fisheries accounted for US$12 million, or just under 1.6 per cent, of the foreign investment total, it said.