Gaz de France Aims to Increase its Hydrocarbon Reserves to 1 Billion BOE in the Medium Term

摘要

Presenting the company's results for the first half of 2006,the Chairman of Gaz de France,Mr.Jean-Francois Cirelli,stressed in particular the growth of its upstream activities,with its hydrocarbon production having increased by 12% relative to the first six months of 2005.The company intends to push ahead with its upstream development and has set itself the medium-term objective of stepping up its oil and gas reserves to 1 billion barrels of oil equivalent(boe)and increasing its production by 12% per annum on average over the 2005-2009 period.Between 2006 and 2009 Gaz de France plans to invest 3.5 billion euros in its upstream activities,with 700 million euros of that devoted to exploration.