Total aims to boost capex by 66% next year

Offshore staff

(Asia-Pacific) - Total SA has raised its next year capital expenditure by 66% to $1.5 billion for the Sisi and Nubi fields, offshore East Kalimantan, its Indonesian spokesman Ananda Idris says.

"We expect Sisi and Nubi to start producing gas in 2007, targeting some 500 MMcf/d per day," said Ananda, adding that the output would help Total maintain its supply of natural gas to PT Badak NGL, which converts it into LNG for Far East markets.

Total's daily output has declined to 2.5 bcf/d these days from the peak of 2.7 bcf/d. It would be maintaining production at 2.5 bcf/d next year.

Part of the 2006 capital expenditure would be used to work on Peciko field Phase V and Tunu field Phase 10, which are also located offshore East Kalimantan waters.

10/27/05