Gas reserve

Looks like some progress in energy, but only to replenish. Not seem like much growth.

BUSINESS IN ASIA TODAY - JAN 8, 2009

TOTAL'S INDONESIAN ARM TO DEVELOP MORE GAS RESERVES

JAKARTA - France's oil company PT Total E&P Indonesie said it will set aside US$11 billion to develop gas reserves in the Mahakam block in East Kalimantan. The company would provide the necessary funds if it was given an extension of its contract until 2032 for the gas block, which was estimated to have reserves of 11 trillion cubic feet, a company official said. Judith J Navarro Dipodiputro, vice president for corporate communication, told the newspaper Investor Daily Total, it had already spent US$1.6 billion to develop the block since 1970.