Statement re Production
Total Fina S.A.
3 December 1999
TOTALFINA STARTS PRODUCTION AT PECIKO FIELD IN INDONESIA
TOTALFINA has started production at the Peciko gasfield located offshore on
there Mahakam permit, in East Kalimantan.
TOTALFINA is operator on the permit with a 50% interest in partnership with
Inpex of Japan, owner of the remaining 50%, under a production sharing agreement
signed with Indonesia's state oil company Pertamina.
Production at Peciko began at a rate of 11 million cubic meters per day and is
expected to reach 22 million cubic meters per day starting January 2000.
Gas from the field is treated onshore at the Senipah terminal and sent to the
Bontang liquefaction plant, where the eighth liquefaction train (train H) was
commissioned in early November with annual capacity of 2.95 million metric tons.
The new train increases the Bontang plant's annual capacity to 21.8 million
metric tons, confirming its ranking as the world's largest LNG plant.
The start of production at the Peciko field should increase TOTALFINA's daily
output on the Mahakam permit to more than 470,000 barrels oil equivalent in
2000, including 85,000 barrels of liquid and 64 million cubic meters of gas. At
that time, TOTALFINA will supply nearly 60% of the Bontang plant's requirements
and will be the leading gas producer in Indonesia, which plays a key role in the
Group's gas development strategy in Asia.
TOTALFINA owns 94.93% of Elf Aquitaine as of end of October 1999. The two
companies are awaiting approval from the European Commission to finalize their
merger. A decision is expected in mid-February 2000.
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