TotalFinaElf to spend US$ 1 b for E. Kalimantan fields

French energy giant TotalFinaElf will spend some US$ 1 billion in 2002 for the development of its East Kalimantan oil and gas fields, according to an an executive of the company.

?The money would be spent mainly for the construction of gas production and processing facilities in Peciko and Tunu gas fields,? Ananda Idris, the corporate communication manager of TotalFinaElf EP Indonesie, told Petromindo.com Wednesday.

The US$ 1 billion was the biggest amount ever spent by TotalFinaElf's central office in Paris, Ananda said.

He added that with the completion of the gas production and processing facilities, TotalFinaElf would be able to supply natural gas for one more liquefied natural gas plant in Bontang.

On Tuesday, Michel Seguin, TotalFinaElf EP senior vice president for Asia and Far East and TotalFinaElf EP Indonesia new president and general manager Roland Festor held a meeting with Minister of Energy and Mineral Resources Purnomo Yusgiantoro to discuss the East Kalimantan projects.(alex)