Registration document 2007 - Total.com

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2 36 Business overview Upstream - Interests in pipelines Interests in pipelines The table below sets forth TOTAL’s interests in crude oil and natural gas pipelines throughout the world: As of December 31, 2006 TOTAL Pipeline(s) Origin Destination % interest operator Liquids Gas FRANCE TIGF NORWAY Network South West 100.00 x x Frostpipe (inhibited) Lille-Frigg, Froy Oseberg 36.25 x Gassled (a) 8.09 x Heimdal to Brae Condensate Line Heimdal Brae 16.76 x Kvitebjorn pipeline Kvitebjorn Mongstad 5.00 x Norpipe Oil Ekofisk Treatment center Teeside (UK) 34.93 x Oseberg Transport System Oseberg, Brage and Veslefrikk Sture 8.65 x Sleipner East Condensate Pipe Sleipner East Karsto 10.00 x Troll Oil Pipeline I and II NETHERLANDS Troll B et C Vestprosess (Mongstad refinery) 3.70 x Nogat pipeline F15A Den Helder 23.19 x West Gas Transport K13A-K4K5 Den Helder 4.66 x WGT Extension UNITED KINGDOM Markham K13-K4K5 23.00 x Bruce Liquid Export Line Bruce Forties (Unity) 43.25 x Central Area Transmission System (CATS) Cats Riser Platform Teeside 0.57 x Central Graben Liquid Export Line (LEP) Elgin-Franklin ETAP 46.17 x x Frigg System: UK line Frigg UK, Alwyn North, Bruce, and others St.Fergus (Scotland) 100.00 x x Interconnector Bacton Zeebrugge (Belgium) 10.00 x Ninian Pipeline System Ninian Sullom Voe 16.00 x Shearwater Elgin Elgin-Franklin Bacton 25.73 x Area Line (SEAL) GABON Shearwater Mandji Pipe Mandji fields Cap Lopez Terminal 100.00 (b) x x Rabi Pipe Rabi Cap Lopez Terminal 100.00 (b) AMERICAS Argentina x x Gas Andes Neuquen Basin (Argentina) Santiago (Chile) 56.50 x x TGN Network (Northern Argentina) 15.40 x x TGM Bolivia TGN Uruguyana (Brazil) 32.68 x x Transierra Brazil Yacuiba (Bolivia) Rio Grande (Bolivia) 11.00 x TBG Bolivia-Brazil border Porto Alegre via Sao Paulo 9.67 x TSB (project) Colombia TGM (Argentina) TBG (Porto Alegre) 25.00 x Ocensa Cusiana, Cupiagua Covenas Terminal 15.20 x Oleoducto de Alta Magdalena Magdalena Media Vasconia 0.96 x Oleoducto de Colombia United States Vasconia Covenas 9.55 x Canyon Express (c) ASIA Aconcagua Williams Platform 25.80 x x Yadana REST OF THE WORLD Yadana (Myanmar) Ban-I Tong (Thai border) 31.24 x x BTC Baku (Azerbaijan) Ceyhan (Turkey) 5.00 x SCP Baku (Azerbaijan) Georgia/Turkey Border 10.00 x Dolphin (project) Ras Laffan (Qatar) Taweelah (U.A.E.) 24.50 x (a) Gassled: unitization of Norwegian gas pipelines through a new joint-venture in which TOTAL has an interest of 8.086%. In addition to the direct share in Gassled, TOTAL has a 14.4% interest in the joint-stock company Norsea Gas AS, which holds 2.839% in Gassled. (b) Interest of Total Gabon. The Group has a financial interest of 58% in Total Gabon. (c) Asset sold early in 2007. TOTAL – Registration Document 2006
Gas & Power The Gas & Power division encompasses the marketing, trading, transport and storage of natural gas and liquefied natural gas (LNG), LNG re-gasification and the maritime transport and trading of liquefied petroleum gas (LPG). It also includes power generation from combined cycle plants and renewable energies, the trading and marketing of electricity as well as the production and marketing of coal. TOTAL is continuing to develop its global presence in each of these activities. Natural Gas In 2006, TOTAL pursued its strategy of developing its activities downstream from natural gas production to optimize access for the Group’s present and future gas production and reserves to traditional (organized around long-term contracts between producers and integrated gas companies) as well as newly (or soon to be) deregulated markets. The majority of TOTAL’s natural gas production is sold under long-term contracts. However, a part of its U.K., Norwegian and Argentine production as well as substantially all of its North American production are sold on a spot basis. The long-term contracts under which TOTAL sells its natural gas production usually provide for a price related to, among other factors, average crude oil and other petroleum product prices, as well as, in some cases, a cost of living index. Although the price of natural gas tends to fluctuate in line with crude oil prices, there tends to be a delay before changes in crude oil prices are reflected on long-term natural gas prices. The general trend towards the deregulation of natural gas markets worldwide tends to allow customers to more freely access suppliers, leading to new marketing structures that are more flexible than traditional long-term contracts. In this context, TOTAL is developing its trading, marketing and logistical activities to offer its natural gas production to new customers, primarily in the industrial and commercial markets, who are looking for more flexible supply arrangements. (1) Source: International Gas Union 2006. Business overview Gas & Power - Upstream 2 Europe TOTAL has been active in the downstream sector of the gas value chain for more than 60 years. Natural gas transport, marketing and storage activities were initially developed to complement the Group’s domestic production in Lacq (France). Today, TOTAL’s objective is to become a leading supplier of gas to European industrial and commercial customers. Since April 2005, the Group’s transport and storage activities in southwest France have been brought under a wholly-owned subsidiary, TIGF, which operates a regulated transport network of 4,905 km of pipelines and two storage units with a combined usable capacity of 85 Bcf (2.4 Bm 3 ), approximately 20% of the overall natural gas storage capacity in France (1) . Highlights of 2006 included the inauguration of the Euskadour pipeline (TIGF, 100% of the portion in France). This pipeline, whose construction was approved in 2003, is the second pipeline to connect the Atlantic coasts of Spain and France. In 2006, TOTAL sold 243 Bcf (6.9 Bm 3 ) of natural gas to French customers through its marketing subsidiary Total Énergie Gaz (TEGAZ), compared to 260 Bcf (7.4 Bm 3 ) in 2005 and 268 Bcf (7.6 Bm 3 ) in 2004. In Spain, since 2001, TOTAL has marketed gas in the industrial and commercial sectors through its participation in CEPSA Gas Comercializadora. This company is held by TOTAL (35%), CEPSA (35%) and the Algerian national company Sonatrach (30%). Taking into account TOTAL’s 48.83% interest in CEPSA, TOTAL has a direct and indirect interest of approximately 52% in this company. In 2006, CEPSA Gas Comercializadora sold approximately 119 Bcf (3.4 Bm 3 ) of natural gas, compared to approximately 63 Bcf (1.8 Bm 3 ) in 2005 and 35 Bcf (1 Bm 3 ) in 2004. CEPSA is participating in studies for the Medgaz gas pipeline project, planned to directly connect Algeria and Spain, through its 20% interest, which gives TOTAL an indirect interest of 10% in the project. The Group relinquished its direct participation in the project in 2006. In the UK, TOTAL’s subsidiary Total Gas & Power Ltd sells gas and power to the industrial and commercial markets. This subsidiary also conducts global gas, electricity and LNG trading activities. In 2006, Total Gas & Power Ltd marketed 135 Bcf (3.8 Bm 3 ) of natural gas to industrial and commercial customers, compared to 189 Bcf (5.4 Bm 3 ) in 2005 and in 2004. Electricity sales in 2006 amounted to 3.2 TWh in 2006, compared to 1.7 TWh in 2005 and 1.3 TWh in 2004. In addition, TOTAL holds a 10% interest in Interconnector UK Ltd, a gas pipeline connecting Bacton in the United Kingdom to Zeebrugge in Belgium. TOTAL – Registration Document 2006 37
Page 1 and 2: Registration Document 2006
Page 3 and 4: Registration Document 2006 This is
Page 5 and 6: Key figures Selected financial info
Page 7 and 8: 116,842 Key figures Operating and m
Page 9 and 10: Refined product sales including Tra
Page 11 and 12: Business overview History and strat
Page 13 and 14: Upstream TOTAL’s Upstream segment
Page 15 and 16: Exploration & Production Exploratio
Page 17 and 18: Production For the full year 2006,
Page 19 and 20: Presentation of production activiti
Page 21 and 22: Europe Business overview Exploratio
Page 23 and 24: Africa TOTAL has been present in Af
Page 25 and 26: this zone through its subsidiaries
Page 27 and 28: North America Since 2004, TOTAL has
Page 29 and 30: Trinidad & Tobago TOTAL holds a 30%
Page 31 and 32: TOTAL also has a 50% interest in th
Page 33 and 34: Europe TOTAL’s production in Euro
Page 35 and 36: K6-GT platform, in anticipation of
Page 37: The Group also holds a 20% interest
Page 41 and 42: Asia Pacific The Hazira re-gasifica
Page 43 and 44: In Morocco, Temasol, in which TOTAL
Page 45 and 46: Refining & Marketing As of December
Page 47 and 48: Refined products The table below se
Page 49 and 50: capacity oil recycling plant in Fra
Page 51 and 52: In 2006, the principal market bench
Page 53 and 54: Base Chemicals TOTAL’s Base Chemi
Page 55 and 56: Specialties TOTAL’s Specialties s
Page 57 and 58: Investments Main investments made o
Page 59 and 60: Property, Plant and Equipment TOTAL
Page 61 and 62: Board of Directors Executive Commit
Page 63 and 64: Management Report of the Board of D
Page 65 and 66: Market environment 2006 2005 2004 E
Page 67 and 68: Upstream results Liquids and gas pr
Page 69 and 70: Downstream results For the full yea
Page 71 and 72: Liquidity and capital resources Lon
Page 73 and 74: Research and development Research a
Page 75 and 76: Trends and outlook Outlook Since th
Page 77 and 78: Risk Factors Market risks p. 76 •
Page 79 and 80: The Group has implemented strict po
Page 81 and 82: The non-current debt in dollars des
Page 83 and 84: Grande Paroisse An explosion occurr
Page 85 and 86: Myanmar Under the Belgian “univer
Page 87 and 88: Risk management Risk evaluations le
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TOTAL, like other major internation
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Insurance and risk management Organ
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Corporate Governance Board of Direc
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Daniel Bouton 56 years old. Inspect
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Bertrand Jacquillat 62 years old. A
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Michel Pébereau 64 years old. Hono
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Management General Management On Ma
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Corporate Governance Compensation o
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Pensions and other commitments (Art
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Within this framework, the Board’
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Members of the Audit Committee may
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Messrs. Bouton, Collomb, Desmarais,
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establishes and maintains procedure
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Employees, Share Ownership, Stock O
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Corporate Governance Employees, Sha
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TOTAL stock options Corporate Gover
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Restricted share plans as of Decemb
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TOTAL and its shareholders Listing
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Four-for-one stock split The Genera
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Information Summary TOTAL and its s
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Dividends Dividend policy In accord
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Share buybacks The General Meeting
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Summary table of transactions compl
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cancels and replaces the unused por
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which was approved by the French Co
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Shareholder structure Distribution
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Non-resident individual taxpayers e
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The Committee also worked on the co
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2007 Calendar February 14 Results f
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Financial information Historical fi
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Additional information Financial in
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General information Share capital p
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Pursuant to this authorization, the
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Potential capital as of December 31
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General information Share capital J
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Directors’ Charter and Committees
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Other matters Employee incentives a
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Information on holdings General inf
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Statutory auditors’ report on the
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Consolidated statement of income TO
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Consolidated statement of cash flow
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On February 13, 2007, the Board of
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G. Earnings per share Earnings per
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equal to the market price. For unli
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The net periodic pension cost is re
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(iii) Portion of intangible assets
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A. Information by business segment
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Appendix 1 - Consolidated financial
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ADJUSTMENTS TO OPERATING INCOME 200
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In 2006, gains and losses on sales
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Property, plant and equipment prese
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14) Other non-current assets As of
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The variation of the weighted-avera
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18) Employee benefits obligations P
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The components of the net periodic
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20) Financial debt and related fina
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Impact on net income The amount of
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23) Commitments and contingencies A
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Other guarantees given Non-consolid
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25) Payroll and staff For the year
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The classification by strategy and
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B) Financial instruments related to
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29) Market risks Oil and gas market
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As a result of its policy for manag
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3) The Group has recorded provision
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53.2% 95.7% Elf Aquitaine 99.5% 100
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Oil and gas reserves p. 238 • Cha
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Changes in liquids reserves Appendi
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Changes in liquids and gas reserves
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Costs incurred in oil and gas prope
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Appendix 2 - Supplemental oil and g
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Other information Accounting for ex
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Appendix 3 - TOTAL S.A. Special aud
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(Free translation of a French langu
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Balance Sheet (TOTAL S.A.) Appendix
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Statement of changes in Shareholder
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2) Property, plant and equipment As
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6) Shareholders’ equity A) Common
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7) Contingency reserves As of Decem
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11) Translation adjustment The appl
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20) Commitments As of December 31 (
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TOTAL share purchase options plans
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Appendix 3 - TOTAL S.A. Parent comp
Page 273 and 274:
List of marketable securities held
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Distribution of earnings 2006 Net d
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Social and environmental informatio
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AVERAGE COMPENSATION PER MONTH - TO
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Environment Pursuant to French law
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Consolidated financial information
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European Cross Reference List 10. C
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TOTAL S.A. Registered Office: 2, pl
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Registration document 2007 - Total.com

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