Total boosts Indonesia investment to $6 billion

Jan. 23, 2007
Total SA will invest $6 billion in Indonesia over the next 5 years, Total Chairman and CEO Thierry Desmarest said on a visit to that country where he met with Indonesian President Susilo Bambang Yudhoyono.

Doris Leblond
OGJ Correspondent

PARIS, Jan. 23 -- Total SA will invest $6 billion in Indonesia over the next 5 years, Total Chairman and Chief Executive Thierry Desmarest said on a visit to that country where he met with Indonesian President Susilo Bambang Yudhoyono.

Total already spends $1 billion/year in Indonesia on the Mahakam permit in the Makassar Strait where it is in a 50:50 partnership with Japan's Inpex and where gas production has been steadily increasing to 2.6 bcfd. It also produces 90,000 b/d of oil and condensate on that block.

Initial proved and probable technical reserves on the Mahakam acreage are more than 20 tcf of gas. About 60% is yet to be produced. Mahakam gas is delivered to the Bontang LNG plant and accounts for 80% of the plant's needs.

Total expects new development on the Susi-Nubi fields in the Makassar Strait off East Kalimantan, due on stream at yearend, and will participate in development and production on Tunu Great South gas-condensate field further offshore.