ConocoPhillips plans $1.3 billion Asia-Pacific E&P spending
Wednesday, December 17 2003 - 01:05 AM WIB
US oil company ConocoPhillips will spend approximately US$ 1.3 billion in 2004 Asia-Pacific region E&P projects, the company said in a statement released Tuesday.
The company said majority of the fund will go toward continued development of the Bayu-Undan liquids and gas recycling project in the Timor Sea, oil and gas reserves in the offshore Block B in Natuna sea and onshore South Sumatra blocks in Indonesia, and the second phase of Bohai Bay in China.
ConocoPhillips plans $ 4.5 billion in global E&P spending in 2004. (alex)