Tue, 23 Jan 2007
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Paris-based oil and gas firm Total plans to increase investment by 6 billion US dollars in its Indonesian unit for the next five years, its CEO said here Monday.

"We have doubled investment to 1 billion dollars in the last three years. With so many projects ahead, we will add an investment of 6 billion dollars for the next five years for the exploration and production of oil and gas, primarily on Kalimantan Island," visiting Total CEO Thierry Desmarest was quoted by the national Antara news agency as saying.

He made the remarks shortly after a meeting with President Susilo Bambang Yudhoyono at the state palace.

The new investment aims to boost production capacity in the Delta Mahakam Block in East Kalimantan province, which employs 20, 000 workers, and seek new oil and gas fields, he said.

Total will maintain its presence in Indonesia with long-term projects and is currently in talks with state-run oil and gas firm Pertamina for joint gas production for domestic and export markets, he said.

Total also plans to open six gas selling stations in Jakarta in the near future.

Source: Xinhua



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