Total to spend EUR 154 mm on Shtokman by end 2009
France's Total plans to spend around $ 200 mm (EUR 154 mm) over 2008-2009 on plans for investment in the giant
Shtokman gas field, which is controlled by Russia's Gazprom.
Total's head of exploration and production, Yves-Louis Darricarrere, told that the cash would finance engineering
studies into the feasibility of the project.
The sums are in line with figures previously given by Gazprom. Norway's Statoil is also a partner in the
project.
Darricarrere said Total is not considering investments in coal seam gas, also known as coal bed methane, an energy
source which rivals are pumping billions into, especially in Australia.
The Shtokman gas project in the stormy Barents Sea has estimated reserves of 3.8 tcm of gas, making it one of the world's biggest gas fields.
