Fri, 21 Mar 2003

TotalFinaElf clarifies

As regards the article TotalFinaElf may cancel RI bid due to war, published on March 20, allow us to make the following clarification:

* What was really said to your journalist during the telephone interview on March 19 was that, though war is a factor of concern, the decision to bid for new blocks offered by the Indonesian government would have no connection whatsoever with the situation in the Middle East.

* During the interview, I also stated that any major oil company would be willing to consider any offer from a host country, but that the decision to bid would be considered after due study of the prospects, risks as well as the terms and conditions offered.

As a company that has been operating in Indonesia for 35 years and which has made a commitment to continue to be a major gas producer in East Kalimantan for still many years to come, TotalFinaElf E&P Indonesie is also committed to seeking new possibilities to explore other opportunities in the country. This does not rule out bidding on the 11 new blocks currently being offered by the government. This statement was acknowledged and made in consultation with BP Migas.

ANANDA IDRIS, Corporate Communication Manager, TotalFinaElf E&P Indonesie, Jakarta Head Office