Total committed to investing $2.4b in Mahakam until 2017
Saturday, March 7 2015 - 03:29 AM WIB
By Febry Silaban
Total EP Indonesie (TEPI) remains committed to investing in the gas-rich Mahakam block in East Kalimatan until its contract on the block expires in 2017 despite uncertainty whether the government will allow it to continue participating in the block after the expiry of the contract.
"We remain committed to investing US$2.4 billion in the Mahakam block. God willing, we?ll keep our investment unchanged until the contract expires in 2017," President and GM of TEPI Hardy Pramono said.
He added that for this year Total will maintain the block?s oil and gas production level at about 350,000 boepd.
Editing by Johannes Simbolon