Caltex expects 2005 capex of $300 million

Indonesia?s top oil producer PT. Caltex Pacific Indonesia planned capital expenditure of US$250-300 million in 2005, relatively unchanged compared to this year?s capex. Company president said.

?In 2005 CPI will spend money for development wells in Rokan and Siak blocks, and also to develop light oil production facilities in Bekasap,? said president W. Yudiana Wednesday.

CPI, a wholly owned subsidiary of US oil giant ChevronTexaco, is the country?s top oil producer, flowing some 500,000 BPD of oil from its central Sumatra oilfields.(godang)