6-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington D.C.

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13-a16 OR 15-d16 OF
THE SECURITIES EXCHANGE ACT OF 1934

For the month of

October — November 2005

TOTAL S.A.

(Translation of registrant’s name into English)

2, place de la Coupole
92078 Paris La Défense Cedex
France
(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover
Form 20-F or Form 40-F.

Form 20-F þ Form 40-F o

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also
thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities
Exchange Act of 1934.

Yes o No þ

(If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule
12g3-
2(b) : 82-______.)

TABLE OF CONTENTS

EX-99.1: TOTAL AND SAMSUNG TO EXPAND THE CAPACITY IN SOUTH KOREA

EX-99.2: TOTAL LAUNCHES GAS-TO-LIQUIDS R&D PROGRAM

EX-99.3: NORWAY'S KRISTIN FIELD BROUGHT ON STREAM

EX-99.4: THIRD QUARTER 2005 RESULTS

EX-99.5: TOTAL MAKES SIXTH OIL DISCOVERY IN LIBYA'S BLOCK NC 186

SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	TOTAL S.A.
Date : November 21, 2005	By : /s/ Charles Paris de Bollardière
	Name : Charles PARIS de BOLLARDIERE
	Title : Treasurer

EXHIBIT INDEX

Ø	EXHIBIT 99.1 :	Total and Samsung to Expand the Capacity in South Korea (October 26, 2005).
Ø	EXHIBIT 99.2 :	Total Launches Gas-to-Liquids R&D Program (November 3, 2005).
Ø	EXHIBIT 99.3 :	Norway’s Kristin Field Brought on Stream (November 3, 2005).
Ø	EXHIBIT 99.4 :	Third Quarter 2005 Results (November 4, 2005).
Ø	EXHIBIT 99.5 :	Total Makes Sixth Oil Discovery in Libya’s Block NC 186 (November 7, 2005).

EX-99.1

Exhibit 99.1

2, place de la Coupole
La Défense 6
92 400 Courbevoie France
Fax : 33 (1) 47 44 68 21

Catherine ENCK
Tel. 33 (1) 47 44 37 76

Patricia MARIE
Tel. 33 (1) 47 44 45 90

Paul FLOREN
Tel. : 33 (1) 47 44 45 91

Christine de CHAMPEAUX
Tel : 33 (1) 47 44 47 49

Bertille ARON
Tel 33 (1) 47 44 67 12

Mary DWYER
Tel.: 33 (1) 47 44 21 19

Isabelle CABROL
Tel. : 33 (1) 47 44 64 24

Charles-Edouard ANFRAY
Tel. : 33 (1) 47 44 65 55

Franklin BOITIER
Tel. : 33 (1) 47 44 59 81

Philippe GATEAU
Tel. : 33 (1) 47 44 47 05

TOTAL S.A.
Capital 6 214 875 300 euros
542 051 180 R.C.S. Nanterre

www.total.com

Total and Samsung to expand the capacity of the Daesan plant in South Korea.

Paris, October 26, 2005 — Total and Samsung have decided to expand their common petrochemicals plant in Daesan (50%/50%) located on the west coast of South Korea. The global investment close to 600 million dollars will both expand and modernise the facilities improving the overall energy efficiency.

The steam cracker will be revamped to achieve a capacity of 850,000 tons per year of ethylene versus a current capacity of about 650,000 tons per year. An olefins conversion unit will be added to increase the production of propylene. The project also includes a new polypropylene line more than doubling the current capacity of 250,000 tons and a debottlenecking of the styrene monomer unit.

In the first phase of the project, the steam cracker and the styrene monomer will be revamped by mid-2007. In the second phase of the project, the new polypropylene and olefins conversion units will start-up approximately six months later.

The project will reinforce Total Petrochemicals commercial position within the fast growing Asian markets. Much of the new styrene monomer and polypropylene production from the Daesan plant will supply the Chinese packaging, automotive and consumer products markets.

This investment supports Total’s strategy to further develop in Asia with a target to double its polymer equity production by 2010.

********

Samsung — Total Petrochemicals joint venture was created in April 2003, both partners retaining a stake of 50%.

The company employs 960 persons and had a turnover of 2,3 Billion US dollars in 2004. The plant currently produces 650,000 tons of ethylene, 675,000 tons of styrene, 315,000 tons of propylene, 600,000 tons of paraxylene and 670,000 tons of polyolefins per year.

**********

Total is the fourth largest oil and gas company in the world with operations in more than 130 countries. Total’s activities cover the whole energy chain of the petroleum industry: exploration, oil and gas production, refining and marketing, trading and power generation. The Group is also a major player in chemicals. Total has more than 111,000 employees worldwide. More information can be found on the company’s website: www.total.com

EX-99.2

Exhibit 99.2

2, place de la Coupole
La Défense 6
92 400 Courbevoie France
Fax : 33 (1) 47 44 68 21

Catherine ENCK
Tel. 33 (1) 47 44 37 76

Patricia MARIE
Tel. 33 (1) 47 44 45 90

Paul FLOREN
Tel. : 33 (1) 47 44 45 91

Christine de CHAMPEAUX
Tel : 33 (1) 47 44 47 49

Bertille ARON
Tel 33 (1) 47 44 67 12

Mary DWYER
Tel.: 33 (1) 47 44 21 19

Isabelle CABROL
Tel. : 33 (1) 47 44 64 24

Charles-Edouard ANFRAY
Tel. : 33 (1) 47 44 65 55

Franklin BOITIER
Tel. : 33 (1) 47 44 59 81

Philippe GATEAU
Tel. : 33 (1) 47 44 47 05

TOTAL S.A.
Capital 6 214 875 300 euros
542 051 180 R.C.S. Nanterre

www.total.com

Total Launches Gas-to-Liquids R&D Program

Paris — November 3, 2005 — As part of its new R&D program on converting natural gas to liquids (GTL processes), Total recently signed a cooperation agreement with a number of partners in science and industry, including Battelle subsidiary Velocys.

The program is primarily designed to develop a new technology that uses microchannel reactors and more active catalysts to produce the synthesis gas used in the Fischer-Tropsch process. A pilot unit will be set up as part of the program. The main objective is to make the chemical conversion process more efficient to ensure enhanced development of natural resources and a significant reduction in emissions, particularly of greenhouse gases.

Total is a major international operator in all areas of gas monetization. In addition to having stakes in nine LNG projects, Total is also recognized for its expertise in sour gas processing.

* * * * * *

Total is the fourth largest oil and gas company in the world with operations in more than 130 countries. Total’s activities cover the whole energy chain of the petroleum industry: exploration, oil and gas production, refining and marketing, trading and power generation. The Group is also a major player in chemicals. Total has more than 111,000 employees worldwide. More information can be found on the company’s website: www.total.com

EX-99.3

Exhibit 99.3

2, place de la Coupole
La Défense 6
92 400 Courbevoie France
Fax : 33 (1) 47 44 68 21

Catherine ENCK
Tel. 33 (1) 47 44 37 76

Patricia MARIE
Tel. 33 (1) 47 44 45 90

Paul FLOREN
Tel. : 33 (1) 47 44 45 91

Christine de CHAMPEAUX
Tel : 33 (1) 47 44 47 49

Bertille ARON
Tel 33 (1) 47 44 67 12

Mary DWYER
Tel.: 33 (1) 47 44 21 19

Isabelle CABROL
Tel. : 33 (1) 47 44 64 24

Charles-Edouard ANFRAY
Tel. : 33 (1) 47 44 65 55

Franklin BOITIER
Tel. : 33 (1) 47 44 59 81

Philippe GATEAU
Tel. : 33 (1) 47 44 47 05

TOTAL S.A.
Capital 6 214 875 300 euros
542 051 180 R.C.S. Nanterre

www.total.com

Norway’s Kristin Field Brought on Stream

Paris — November 3, 2005 — Total announces that the high-pressure/high-temperature (900 bar/170°C) Kristin offshore field has been brought on stream in Norway.

Located 240 kilometers offshore and 20 kilometers from the Åsgard field, in which Total also has an interest, Kristin is a subsea development in 315 meters of water. The field’s output is processed on a new semi-submersible platform, after which the condensate is exported to Åsgard C and the gas is piped to the Kårstø terminal via the existing network.

Kristin will produce around 220,000 barrels of oil equivalent per day in plateau. Total (6%) is partnered with Statoil (operator), Petoro, Norsk Hydro, ExxonMobil and ENI on the project.

The new production consolidates Total’s growth base in the Norwegian Sea. The Group reported output of 406,000 barrels of oil equivalent per day in Norway in 2004.

* * * * * *

Total is the fourth largest oil and gas company in the world with operations in more than 130 countries. Total’s activities cover the whole energy chain of the petroleum industry: exploration, oil and gas production, refining and marketing, trading and power generation. The Group is also a major player in chemicals. Total has more than 111,000 employees worldwide. More information can be found on the company’s website: www.total.com

EX-99.4

Exhibit 99.4

2, place de la Coupole
La Défense 6
92 400 Courbevoie France
Fax : 33 (1) 47 44 68 21

Catherine ENCK
Tel. 33 (1) 47 44 37 76

Patricia MARIE
Tel. 33 (1) 47 44 45 90

Paul FLOREN
Tel. : 33 (1) 47 44 45 91

Christine de CHAMPEAUX
Tel : 33 (1) 47 44 47 49

Bertille ARON
Tel 33 (1) 47 44 67 12

Mary DWYER
Tel.: 33 (1) 47 44 21 19

Isabelle CABROL
Tel. : 33 (1) 47 44 64 24

Charles-Edouard ANFRAY
Tel. : 33 (1) 47 44 65 55

Franklin BOITIER
Tel. : 33 (1) 47 44 59 81

Philippe GATEAU
Tel. : 33 (1) 47 44 47 05

TOTAL S.A.
Capital 6 214 875 300 euros
542 051 180 R.C.S. Nanterre

www.total.com

Total reports third quarter 2005 results

     l +32% to 3.13 billion for adjusted net income¹ in euros

     l +36% to 5.32 € for adjusted earnings per share in euros

     l +32% to 3.81 billion for adjusted net income expressed in dollars²

     l +36% to 6.49 $for adjusted earnings per share expressed in dollars

Investments expressed in dollars increased by 37% over the first nine months of 2005

Interim dividend of 3 euros per share payable November 24, 2005

l Results expressed in dollars^2-3

3rd quarter 2005				9 months 2005
3.81 B$	+32	%	Adjusted net income1	11.30 B$	+42	%
6.49 $/share	+36	%		19.10 $/share	+46	%
4.45 B$	+32	%	Net income	12.54 B$	+43	%

l Results in euros³

3rd quarter 2005				9 months 2005
3.13 B€	+32	%	Adjusted net income1	8.95 B€	+38	%
5.32 €/share	+36	%		15.13 €/share	+42	%
3.65 B€	+32	%	Net income	9.93 B€	+39	%

1	adjusted net income = net income using replacement cost (Group share) adjusted for special items and excluding Total’s equity share of amortization of intangibles related to the Sanofi-Aventis merger
2	dollar amounts represent euro amounts converted at the €/$ rate for the period (1.2199 $/€ for the third quarter 2005, 1.2220 for the third quarter 2004, 1.2626 for the first nine months of 2005 and 1.2255 for the first nine months of 2004)
3	percent changes are relative to the same period in 2004

2, place de la Coupole
La Défense 6
92 400 Courbevoie France
Fax : 33 (1) 47 44 68 21

Catherine ENCK
Tel. 33 (1) 47 44 37 76

Patricia MARIE
Tel. 33 (1) 47 44 45 90

Paul FLOREN
Tel. : 33 (1) 47 44 45 91

Christine de CHAMPEAUX
Tel : 33 (1) 47 44 47 49

Bertille ARON
Tel 33 (1) 47 44 67 12

Mary DWYER
Tel.: 33 (1) 47 44 21 19

Isabelle CABROL
Tel. : 33 (1) 47 44 64 24

Charles-Edouard ANFRAY
Tel. : 33 (1) 47 44 65 55

Franklin BOITIER
Tel. : 33 (1) 47 44 59 81

Philippe GATEAU
Tel. : 33 (1) 47 44 47 05

TOTAL S.A.
Capital 6 214 875 300 euros
542 051 180 R.C.S. Nanterre

www.total.com

Paris, November 4, 2005 — The Board of Directors of Total, chaired by CEO Thierry Desmarest, met on November 3, 2005 to review the consolidated accounts for the third quarter 2005.

Adjusted net income increased to 3,126 million euros (M€) in the third quarter 2005, an increase of 32% compared to the third quarter 2004. Commenting on the results, CEO Thierry Desmarest said :

« At a time when global demand for petroleum products was already strong, major disruptions in the Gulf of Mexico drove oil prices and refining margins to very high levels in the third quarter 2005. Further downstream in the oil chain, retail marketing and petrochemicals suffered as a result of rapidly rising raw material costs.

The 36% increase in adjusted earnings per share for Total reflects essentially the stronger oil market environment and illustrates the sensitivity of the Group to this environment.

Over the first nine months of 2005, Total reported the best performance among the majors by achieving a 46% increase in earnings per share expressed in dollars.

The Group invested 9.3 billion dollars over the first nine months of 2005, which includes 1.1 B$ (US) for the acquisition of 82% of Deer Creek and represents a 37% increase in investments over the same period last year.

In the Upstream, continued exploration success and the launching of several large, long-term projects allow Total to be confident of its ability to sustain ongoing production growth beyond 2010. In the Downstream, a program to increase investments to upgrade and adapt the refining system to changing product demand is being actively implemented.»

l Total — consolidated accounts⁴

3Q05		3Q04	%			in millions of euros	9M05		9M04		%
	38,414	32,296		+19	%	Sales		103,226		88,400		+17	%
	6,346	4,498		+41	%	Adjusted operating income from business segments		17,339		12,107		+43	%
	5,199	3,429		+52	%	• Upstream		13,421		9,416		+43	%
	981	748		+31	%	• Downstream		2,816		2,022		+39	%
	166	321		-48	%	• Chemicals		1,102		669		+65	%
	3,044	2,279		+34	%	Adjusted net operating income from business segments		8,807		6,414		+37	%
	3,645	2,763		+32	%	Net income (Group share)		9,932		7,137		+39	%
	3,126	2,365		+32	%	Adjusted net income		8,951		6,496		+38	%
	5.32	3.91		+36	%	Adjusted earnings per share (euros)		15.13		10.67		+42	%
	3,357	1,967		+71	%	Investments		7,396		5,575		+33	%
	248	185		+34	%	Divestments at selling price		838		538		+56	%
	4,764	4,075		+17	%	Cash flow from operating activities		11,498		10,840		+6	%

⁴ adjusted income (adjusted income, adjusted net operating income, adjusted net income) is defined as income using replacement cost, adjusted for special items and excluding Total’s equity share of amortization of intangibles related to the Sanofi-Aventis merger

2

2, place de la Coupole
La Défense 6
92 400 Courbevoie France
Fax : 33 (1) 47 44 68 21

Catherine ENCK
Tel. 33 (1) 47 44 37 76

Patricia MARIE
Tel. 33 (1) 47 44 45 90

Paul FLOREN
Tel. : 33 (1) 47 44 45 91

Christine de CHAMPEAUX
Tel : 33 (1) 47 44 47 49

Bertille ARON
Tel 33 (1) 47 44 67 12

Mary DWYER
Tel.: 33 (1) 47 44 21 19

Isabelle CABROL
Tel. : 33 (1) 47 44 64 24

Charles-Edouard ANFRAY
Tel. : 33 (1) 47 44 65 55

Franklin BOITIER
Tel. : 33 (1) 47 44 59 81

Philippe GATEAU
Tel. : 33 (1) 47 44 47 05

TOTAL S.A.
Capital 6 214 875 300 euros
542 051 180 R.C.S. Nanterre

www.total.com

l Number of shares

3Q05		3Q04	%			Millions	9M05		9M04		%
	588.0	604.5		-3	%	Fully-diluted weighted-average shares		591.7		608.7		-3	%

l Market environment

3Q05		3Q04	%				9M05		9M04		%
	1.22	1.22		—		US$($/€)		1.26		1.23		-3	%*
	61.5	41.5		+48	%	Brent ($/b)		53.7		36.4		+48	%
	44.3	32.9		+35	%	European refining margins TRCV ($/t)		40.4		29.6		+36	%

* change in the dollar versus the ‘euro

l Adjustments to operating income from business segments

3Q05			3Q04		in millions of euros	9M05			9M04
	(9	)		—	Impact of special items on operating income from business segments		(20	)		—
	—			—	• Restructuring charges		—			—
	—			—	• Impairments		(11	)		—
	(9	)		—	• Other		(9	)		—
	1,066			590	Difference of FIFO vs. Replacement cost		2,179			1,138
	1,057			590	Total adjustments affecting operating income from business segments		2,159			1,138

l Adjustments to net income (Group share)

3Q05			3Q04			in millions of euros	9M05			9M04
	(98	)		(12	)	Impact of special items on net income (Group share)		(274	)		(145	)
	(87	)		—		• Equity share of special items recorded by Sanofi-Aventis		(165	)		—
	—			—		• Gain/(loss) on asset sales		—			—
	—			—		• Additional Toulouse-AZF provision		—			(98	)
	—			(12	)	• Restructuring charges and early retirement plans		(90	)		(43	)
	—			—		• Impairments		(8	)		—
	(11	)		—		• Other		(11	)		(4	)
	(112	)		—		Adjustment related to the Sanofi-Aventis merger* (share of amortization of intangible assets)		(247	)		—
	729			410		After-tax difference of FIFO vs. Replacement cost		1,502			786
	519			398		Total adjustments affecting net income		981			641

* based on 13% participation of Total in Sanofi-Aventis at September 30, 2005

3

2, place de la Coupole
La Défense 6
92 400 Courbevoie France
Fax : 33 (1) 47 44 68 21

Catherine ENCK
Tel. 33 (1) 47 44 37 76

Patricia MARIE
Tel. 33 (1) 47 44 45 90

Paul FLOREN
Tel. : 33 (1) 47 44 45 91

Christine de CHAMPEAUX
Tel : 33 (1) 47 44 47 49

Bertille ARON
Tel 33 (1) 47 44 67 12

Mary DWYER
Tel.: 33 (1) 47 44 21 19

Isabelle CABROL
Tel. : 33 (1) 47 44 64 24

Charles-Edouard ANFRAY
Tel. : 33 (1) 47 44 65 55

Franklin BOITIER
Tel. : 33 (1) 47 44 59 81

Philippe GATEAU
Tel. : 33 (1) 47 44 47 05

TOTAL S.A.
Capital 6 214 875 300 euros
542 051 180 R.C.S. Nanterre

www.total.com

l Third quarter 2005 results

     > Operating income

Compared to the third quarter 2004, the oil market environment in the third quarter 2005 was marked by a strong increase in oil prices (+48% for Brent) and European refining margins (+35% for the TRCV indicator).

Petrochemical margins decreased relative to the third quarter 2004.

In this context, adjusted operating income from the business segments increased by 41% to 6,346 M€ from 4,498 M€ in the third quarter 2004.

Special items affecting operating income, which were related to exceptional charges in the Chemicals segment, had a negative impact of 9 M€ in the third quarter 2005. There were no special items affecting operating income in the third quarter 2004.

Adjusted net operating income from the business segments increased by 34% to 3,044 M€ from 2,279 M€ in the third quarter 2004. The smaller percentage increase relative to the increase in operating income is due notably to the higher effective tax rate in the third quarter 2005 compared to the third quarter 2004.

     > Net income

Adjusted net income, which excludes notably after-tax inventory effects of 729 M€ in the third quarter 2005 and 410 M€ in the third quarter 2004, increased by 32% to 3,126 M€ from 2,365 M€ in the third quarter 2004.

Special items affecting net income had a negative impact of 98 M€ on the third quarter 2005 and 12 M€ on the third quarter 2004. They include special charges and provisions in the Chemicals segment and, in the third quarter 2005, -87 M€ for Total’s equity share of special items taken by Sanofi-Aventis.

Net income⁵ increased to 3,645 M€ from 2,763 M€ in the third quarter 2004.

During the third quarter 2005, the Group bought back 3.97 million of its shares⁶, or 0.6% of its capital, for 826 M€.

Adjusted earnings per share, based on 588.0 million fully-diluted weighted-average shares, rose to 5.32 euros in the third quarter 2005 from 3.91 euros in the third quarter 2004, an increase of 36%, which is higher than the increase in adjusted net income due to the accretive effect of the share buybacks.

     > Cash flow

Cash flow from operating activities increased to 4,764 M€ from 4,075 M€ in the third quarter 2004.

Investments rose to 3,357 M€ from 1,967 M€ in the third quarter 2004. They include 890 M€ paid out for the acquisition of 82% of Deer Creek.

Divestments in the third quarter 2005 were 248 M€, including notably the sale of Total’s interest in the power company South Humber Bank.

Net cash flow⁷ was 1,655 M€ compared to 2,293 M€ in the same period 2004.

5	reported net income includes special items and after-tax inventory valuation effects as well as Total’s equity share of the amortization of intangibles related to the Sanofi-Aventis merger
6	including 0.57 million shares which are reserved for share grants as per the decision of the Board on July 19, 2005
7	net cash flow = cash flow from operating activities + divestments — investments

4

2, place de la Coupole
La Défense 6
92 400 Courbevoie France
Fax : 33 (1) 47 44 68 21

Catherine ENCK
Tel. 33 (1) 47 44 37 76

Patricia MARIE
Tel. 33 (1) 47 44 45 90

Paul FLOREN
Tel. : 33 (1) 47 44 45 91

Christine de CHAMPEAUX
Tel : 33 (1) 47 44 47 49

Bertille ARON
Tel 33 (1) 47 44 67 12

Mary DWYER
Tel.: 33 (1) 47 44 21 19

Isabelle CABROL
Tel. : 33 (1) 47 44 64 24

Charles-Edouard ANFRAY
Tel. : 33 (1) 47 44 65 55

Franklin BOITIER
Tel. : 33 (1) 47 44 59 81

Philippe GATEAU
Tel. : 33 (1) 47 44 47 05

TOTAL S.A.
Capital 6 214 875 300 euros
542 051 180 R.C.S. Nanterre

www.total.com

l Upstream

     > Results

3Q05		3Q04	%			in millions of euros	9M05		9M04		%
	5,199	3,429		+52	%	Adjusted operating income*		13,421		9,416		+43	%
	2,202	1,539		+43	%	Adjusted net operating income*		5,897		4,454		+32	%
-
	2,589	1,385		+87	%	Investments		5,590		3,933		+42	%
	161	114		+41	%	Divestments at selling price		551		315		+75	%
	2,818	2,269		+24	%	Cash flow from operating activities		7,737		7,248		+7	%

* adjustment detail included in the business segment information

Adjusted operating income for the Upstream segment increased by 52% to 5,199 M€ in the third quarter 2005 from 3,429 M€ in the third quarter 2004.

The increase reflects essentially the benefit of higher hydrocarbon prices, more so for liquids than for gas.

Adjusted net operating income for Upstream increased by 43% to 2,202 M€.

The more moderate increase relative to the increase in operating income reflects, among other elements, the higher effective tax rate in the third quarter 2005 compared to the third quarter 2004, which was due notably to less production in areas with lower effective tax rates.

     > Production

3Q05		3Q04	%			Hydrocarbon production	9M05		9M04		%
	2,428	2,479		-2	%	Combined production (kboe/d)		2,498		2,571		-3	%
	1,607	1,674		-4	%	• Liquids (kb/d)		1,631		1,698		-4	%
	4,491	4,386		+2	%	• Gas (Mcfd)		4,742		4,749		—

Hydrocarbon production declined by 2% to 2,428 thousand barrels of oil equivalent per day (kboe/d) in the third quarter 2005 from 2,479 kboe/d in the third quarter 2004.

This decrease in production was due primarily to the negative impact on entitlement volumes linked to higher prices in the third quarter 2005 versus the third quarter 2004 (“price effect”).

Excluding the price effect impact, hydrocarbon production increased. Production growth from Trinidad, Congo, Indonesia, and Venezuela combined with lower maintenance in the North Sea relative to the third quarter of last year more than offset lower production from the Gulf of Mexico due to the hurricanes and from shutdowns in Nigeria affecting onshore areas.

5

2, place de la Coupole
La Défense 6
92 400 Courbevoie France
Fax : 33 (1) 47 44 68 21

Catherine ENCK
Tel. 33 (1) 47 44 37 76

Patricia MARIE
Tel. 33 (1) 47 44 45 90

Paul FLOREN
Tel. : 33 (1) 47 44 45 91

Christine de CHAMPEAUX
Tel : 33 (1) 47 44 47 49

Bertille ARON
Tel 33 (1) 47 44 67 12

Mary DWYER
Tel.: 33 (1) 47 44 21 19

Isabelle CABROL
Tel. : 33 (1) 47 44 64 24

Charles-Edouard ANFRAY
Tel. : 33 (1) 47 44 65 55

Franklin BOITIER
Tel. : 33 (1) 47 44 59 81

Philippe GATEAU
Tel. : 33 (1) 47 44 47 05

TOTAL S.A.
Capital 6 214 875 300 euros
542 051 180 R.C.S. Nanterre

www.total.com

     > Liquids and gas price realizations

3Q05		3Q04	%			Liquids and gas price*	9M05		9M04		%
	57.8	39.5		+46	%	Average liquids price ($/b)		49.9		34.9		+43	%
	4.65	3.54		+31	%	Average gas price ($/Mbtu)		4.47		3.56		+26	%

* consolidated subsidiaries, excluding fixed margin and buy-back contracts

The smaller increase in the average realized liquids price compared to the increase in the Brent price in particular reflects the larger spread in the light-heavy price differential for crude oil. Gas prices increased in every producing region.

     > Recent highlights

Total continued to expand its exploration acreage by signing a production sharing contract on OPL 223 in Nigeria, being awarded a block in Libya and bidding successfully for three production licenses in the UK North Sea.

Successful exploration activity included new discoveries in ultra-deep offshore Angola, a discovery on Block NC 186 in Libya and two new positive wells on OPL 222 (Total operated, 20%) in Nigeria that further confirm the potential of the Usan discovery.

An initial development plan for Usan projecting a start-up by 2010 and a plateau rate of 150 kb/d was approved by NNPC, the concession holder of the block.

The third quarter 2005 also marked the launch of the development of Yemen LNG (Total 42.9%⁸) projecting the construction of a liquefaction plant with a capacity of 6.7 Mt/y by 2008. Plans call for gas sales over a 20-year period of 4.5 Mt/y to the Atlantic basin market and 2 Mt/y to the Asian market.

Phase 1 of the development of the Moho-Bilondo field has been launched (Total operated, 53.5%). Production is projected to start in 2008 with a plateau rate of approx. 90 kb/d.

Total took a major step forward in developing its Canadian oil sands strategy through the successful takeover of Deer Creek Energy Limited which holds 84% of the Joslyn lease in Athabasca, Canada. As of October 31, 2005, Total held 82.4% of Deer Creek.

Total sold its 40% stake in the South Humber Bank power plant in the UK to Centrica.

⁸ before the potential entry of Kogas

6

2, place de la Coupole
La Défense 6
92 400 Courbevoie France
Fax : 33 (1) 47 44 68 21

Catherine ENCK
Tel. 33 (1) 47 44 37 76

Patricia MARIE
Tel. 33 (1) 47 44 45 90

Paul FLOREN
Tel. : 33 (1) 47 44 45 91

Christine de CHAMPEAUX
Tel : 33 (1) 47 44 47 49

Bertille ARON
Tel 33 (1) 47 44 67 12

Mary DWYER
Tel.: 33 (1) 47 44 21 19

Isabelle CABROL
Tel. : 33 (1) 47 44 64 24

Charles-Edouard ANFRAY
Tel. : 33 (1) 47 44 65 55

Franklin BOITIER
Tel. : 33 (1) 47 44 59 81

Philippe GATEAU
Tel. : 33 (1) 47 44 47 05

TOTAL S.A.
Capital 6 214 875 300 euros
542 051 180 R.C.S. Nanterre

www.total.com

l Downstream

     > Results

3Q05		3Q04		%			in millions of euros	9M05		9M04		%
	981		748		+31	%	Adjusted operating income*		2,816		2,022		+39	%
	706		524		+35	%	Adjusted net operating income*		2,117		1,493		+42	%
	493		376		+31	%	Investments		1,069		951		+12	%
	21		45		-53	%	Divestments at selling price		124		127		-2	%
	893		852		+5	%	Cash flow from operating activities		2,512		3,009		-17	%

* adjustment detail included in the business segment information

Adjusted operating income for the Downstream segment in the third quarter 2005 was 981 M€, a 31% increase compared to the third quarter 2004.

The increase was due mainly to the stronger refining margins that reflected the tight supply-demand balance in the Atlantic basin, particularly in the wake of Hurricanes Katrina and Rita.

Downstream results benefited as well from the effects of self-help programs and, in refining, positive market effects that were not reflected in the TRCV increase. Partially offsetting those positive effects were the prolonged shutdown of the Antwerp cracker, the shutdown of the Port Arthur refinery due to Hurricane Rita, the strike at the Normandy refinery, and the negative impact of rapidly rising refined product prices on marketing margins, which all had a negative impact on the performance of the segment.

Adjusted net operating income for the Downstream segment increased by 35% to 706 M€ in the third quarter 2005 from 524 M€ for the third quarter 2004.

     > Refinery throughput

3Q05		3Q04		%			Refinery throughput (kb/d)	9M05		9M04		%
	2,379		2,516		-5	%	Total refinery throughput*		2,407		2,501		-4	%
	951		996		-5	%	• France		944		1,010		-7	%
	1,124		1,191		-6	%	• Rest of Europe*		1,143		1,184		-3	%
	304		329		-8	%	• Rest of world		321		307		+5	%

* includes share of Cepsa

Refinery throughput was 2,379 kb/d in the third quarter 2005, a decrease of 5% compared to the same quarter last year. The refining utilization rate was 88%.

This decrease was due essentially to the longer-than-expected maintenance shutdown at Antwerp at the beginning of the third quarter 2005 and to the impact of the strike at Normandy at the end of the quarter.

7

2, place de la Coupole
La Défense 6
92 400 Courbevoie France
Fax : 33 (1) 47 44 68 21

Catherine ENCK
Tel. 33 (1) 47 44 37 76

Patricia MARIE
Tel. 33 (1) 47 44 45 90

Paul FLOREN
Tel. : 33 (1) 47 44 45 91

Christine de CHAMPEAUX
Tel : 33 (1) 47 44 47 49

Bertille ARON
Tel. : 33 (1) 47 44 67 12

Mary DWYER
Tel.: 33 (1) 47 44 21 19

Isabelle CABROL
Tel. : 33 (1) 47 44 64 24

Charles-Edouard ANFRAY
Tel. : 33 (1) 47 44 65 55

Franklin BOITIER
Tel. : 33 (1) 47 44 59 81

Philippe GATEAU
Tel. : 33 (1) 47 44 47 05

TOTAL S.A.
Capital 6 214 875 300 euros
542 051 180 R.C.S. Nanterre

www.total.com

  > Recent highlights

Within the framework of the announcement made in September to accelerate its investment program in refining with the goal of increasing the capacity of diesel production and desulphurization as well as improving energy efficiency at its refineries, Total has launched studies on a deep-conversion project at its Port Arthur refinery in the US. Other studies have been launched regarding the construction of a deep-conversion unit at one of the Group’s European refineries.

Total signed an agreement with ExxonMobil to acquire its marketing and refined products distribution affiliates in 14 African countries. This transaction, which remains subject to the necessary regulatory approvals in each country, would make Total the largest marketer in Africa with an overall market share of 11%.

Total signed a preliminary agreement to increase its share in its Rome refinery from 57.5% to 77.5% and, as part of the deal, to sell its 18% interest in the Reichstett in France⁹.

Total and Sinochem signed a new joint venture agreement to build a network of 300 service stations in the region around Shanghai, China. The two companies are already partners in a similar venture in northern China and in the Dalian refinery.

Total signed an agreement with Neste Oil to build a second-generation bio-diesel production unit at one of the Group’s refineries that is expected to start up by 2008.

⁹ pending exercise of pre-emption rights by the minority shareholders

8

2, place de la Coupole
La Défense 6
92 400 Courbevoie France
Fax : 33 (1) 47 44 68 21

Catherine ENCK
Tel. 33 (1) 47 44 37 76

Patricia MARIE
Tel. 33 (1) 47 44 45 90

Paul FLOREN
Tel. : 33 (1) 47 44 45 91

Christine de CHAMPEAUX
Tel : 33 (1) 47 44 47 49

Bertille ARON
Tel. : 33 (1) 47 44 67 12

Mary DWYER
Tel.: 33 (1) 47 44 21 19

Isabelle CABROL
Tel. : 33 (1) 47 44 64 24

Charles-Edouard ANFRAY
Tel. : 33 (1) 47 44 65 55

Franklin BOITIER
Tel. : 33 (1) 47 44 59 81

Philippe GATEAU
Tel. : 33 (1) 47 44 47 05

TOTAL S.A.
Capital 6 214 875 300 euros
542 051 180 R.C.S. Nanterre

www.total.com

lChemicals

  > Results

3Q05			3Q04		%			in millions of euros	9M05		9M04		%
	5,401			5,228		+3	%	Sales		16,655		14,797		+13	%
	2,344			2,532		-7	%	• Base chemicals		7,604		6,472		+17	%
	1,640			1,450		+13	%	• Specialties		4,867		5,563		+9	%
	1,417			1,244		+14	%	• Arkema		4,184		3,839		+9	%
	—			2	ns			• Corporate Chemicals		—		5	ns
	166			321		-48	%	Adjusted operating income*		1,102		669		+65	%
	(18	)		172	ns			• Base chemicals		479		230		+108	%
	138			124		+10	%	• Specialties		404		379		+7	%
	49			16		+219	%	• Arkema		216		45		+380	%
	(3	)		9	ns			• Corporate Chemicals		3		15	ns
	136			216		-37	%	Adjusted net operating income*		793		467		+70	%
	275			211		+30	%	Investments		678		645		+5	%
	—			19	ns			Divestments at selling price		30		68		-56	%
	498			300		+66	%	Cash flow from operating activities		785		262		+200	%

* adjustment detail included in business segment information

Sales for the Chemicals segment increased by 3% to 5,401 M€ in the third quarter 2005 from 5,228 M€ in the third quarter 2004.

Adjusted operating income fell by 48% to 166 M€ in the third quarter 2005 from 321 M€ in the third quarter 2004.

Base chemical margins fell sharply as a result of rapidly increasing raw material costs in the third quarter 2005. Shutdowns of steamcrackers in September at Port Arthur (related to the hurricanes) and at Normandy (related to the beginning of the 5-year scheduled turnaround) also had a negative impact on results.

Specialties continued to perform well.

Arkema reported a strong increase relative to the third quarter 2004, mainly due to better results in industrial chemicals.

Adjusted net operating income for the Chemicals segment were 136 M€ in the third quarter 2005 compared to 216 M€ for the third quarter 2004.

  > Recent highlights

Samsung Total Petrochemicals (Total 50%) launched a major expansion program at the Daesan site in South Korea which will raise the capacity of the cracker to 850 kt/y by 2007, (a 30% increase) as well as increase the production capacities for styrene and polypropylene.

Cray Valley and Sartomer, subsidiaries of Total, finalized the acquisition of the hydrocarbon resins activities of the Goodyear Tire & Rubber Company.

9

2, place de la Coupole
La Défense 6
92 400 Courbevoie France
Fax : 33 (1) 47 44 68 21

Catherine ENCK
Tel. 33 (1) 47 44 37 76

Patricia MARIE
Tel. 33 (1) 47 44 45 90

Paul FLOREN
Tel. : 33 (1) 47 44 45 91

Christine de CHAMPEAUX
Tel : 33 (1) 47 44 47 49

Bertille ARON
Tel. : 33 (1) 47 44 67 12

Mary DWYER
Tel.: 33 (1) 47 44 21 19

Isabelle CABROL
Tel. : 33 (1) 47 44 64 24

Charles-Edouard ANFRAY
Tel. : 33 (1) 47 44 65 55

Franklin BOITIER
Tel. : 33 (1) 47 44 59 81

Philippe GATEAU
Tel. : 33 (1) 47 44 47 05

TOTAL S.A.
Capital 6 214 875 300 euros
542 051 180 R.C.S. Nanterre

www.total.com

l Nine months 2005 results

  > Operating income

Compared to the first nine months of 2004, the oil market environment for the first nine months of 2005 was marked by a strong increase in oil prices (+48% for Brent) and European refining margins (+36% for TRCV).
Petrochemical margins, on average, were higher relative to the first nine months of 2004.

In this context, adjusted operating income from the business segments increased by 43% to 17,339 M€ from 12,107 M€ in the first nine months of 2004.

Special items affecting operating income had a negative impact of 20 M€¹⁰ in the first nine months of 2005. There were no special items affecting operating income in the first nine months of 2004.

Adjusted net operating income from the business segments increased by 37% to 8,807 M€ from 6,414 M€ in the first nine months of 2004.

  > Net income

Adjusted net income, which excludes after-tax inventory effects of 1,502 M€ in the first nine months of 2005 and 786 M€ in the first nine months of 2004, increased by 38% to 8,951 M€ from 6,496 M€ in the first nine months of 2004.

Special items affecting net income had a negative impact of 274 M€¹⁰ on the first nine months of 2005 and 145 M€¹⁰ on the first nine months of 2004.

Reported net income¹¹ was 9,932 M€ compared to 7,137 M€ for the first nine months of 2004.

During the first nine months of 2005, the Group bought back 15.7 million of its shares¹², or 2.5% of its capital, for 2.9 B€.

At September 30, 2005 the number of fully-diluted weighted-average shares was 588.1 million compared to 603.7 million a year ago, representing a decrease of close to 3%.

Adjusted earnings per share, based on 591.7 million fully-diluted weighted-average shares rose to 15.13 euros from 10.67 euros in the first nine months of 2004, an increase of 42%, which is a higher rate of increase than for adjusted net income due to the accretive impact of the share buybacks.

  > Cash flow

Cash flow from operating activities rose to 11,498 M€ in the first nine months of 2005 from 10,840 M€ in the same period last year. During the first nine months of 2005 investments were 7,396 M€. Expressed in dollars, investments were 9.3 B$, including 1.1 B$ for the Deer Creek acquisition, an increase of 37% compared to the first nine months of 2004.

Divestments for the first nine months of 2005 were 838 M€.

Net cash flow was 4,940 M€ in the first nine months of 2005 compared to 5,803 M€ in the first nine months of 2004.

The net-debt-to-equity ratio was 25.6% at September 30, 2005 compared to 30.3% at June 30, 2005 and 26.6% at September 30, 2004.

10	detail on these items is shown in a table on page 3
11	reported net income includes special items and after-tax inventory valuation effects as well as Total’s equity share of the amortization of intangibles related to the Sanofi-Aventis merger
12	including 0.57 million shares which are reserved for share grants as per the decision of the Board on July 19, 2005

10

2, place de la Coupole
La Défense 6
92 400 Courbevoie France
Fax : 33 (1) 47 44 68 21

Catherine ENCK
Tel. 33 (1) 47 44 37 76

Patricia MARIE
Tel. 33 (1) 47 44 45 90

Paul FLOREN
Tel. : 33 (1) 47 44 45 91

Christine de CHAMPEAUX
Tel : 33 (1) 47 44 47 49

Bertille ARON
Tel. : 33 (1) 47 44 67 12

Mary DWYER
Tel.: 33 (1) 47 44 21 19

Isabelle CABROL
Tel. : 33 (1) 47 44 64 24

Charles-Edouard ANFRAY
Tel. : 33 (1) 47 44 65 55

Franklin BOITIER
Tel. : 33 (1) 47 44 59 81

Philippe GATEAU
Tel. : 33 (1) 47 44 47 05

TOTAL S.A.
Capital 6 214 875 300 euros
542 051 180 R.C.S. Nanterre

www.total.com

l Cancellation of outstanding shares

The Board of Directors met on November 3, 2005 and approved the cancellation of 7,547,990 shares effective November 22, 2005. The share capital has been adjusted to 6,139,395,400 € represented by 613,939,540 shares with a par value of 10 €. This cancellation increases the Group’s capacity for share buybacks.

l Interim dividend

Net income for Total S.A., the parent company, was 2,763 M€ for the first nine months of 2005 compared to 2,244 M€ for the same period last year.
Directors met on November 3, 2005 and, after reviewing the accounts, approved an interim dividend in the amount of 3 € payable on November 24, 2005.

l Summary and outlook

The return on average capital employed (ROACE) for the Group rose to 28%, at the level of the best in the industry, for the 12 months ended September 30, 2005. For the same period, ROACE¹³ was 37% for Upstream, 32% for Downstream, and 12% for Chemicals.
Calculated for the same period, the Group’s return on equity was 34%.

Total continued to invest, giving priority to the Upstream, in line with its forecasts.

The Group has continued to buy back shares and in October 2005 bought back 1.6 million shares for 340 M€, bringing the level of buybacks since the start of the year to 2.7% of the capital.

Since the beginning of the fourth quarter 2005, oil prices have remained high. Refining margins were very high following the hurricanes in the Gulf of Mexico. Petrochemical margins were relatively weak, while the other Chemicals activities continued to benefit from a satisfactory environment.

¨ ¨ ¨

To listen to the conference call with CFO Robert Castaigne and financial analysts today at 15:30 (Paris time), please call +44 (0)20 7162 0125 from Europe or +1 334 323 6203 from the US or access the call through company web site www.total.com. For a replay, please dial +44 (0)20 7031 4064 from Europe or 1 954 334 0342 (access code: 677 694) from the US.

The September 30, 2005 notes to the consolidated accounts are available on the Total web site (www.total.com). The interim accounts have been the subject of a limited review by the company’s auditors. This document may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to the financial condition, results of operations, business, strategy and plans of Total. Such statements are based on a number of assumptions that could ultimately prove inaccurate, and are subject to a number of risk factors, including currency fluctuations, the price of petroleum products, the ability to realize cost reductions and operating efficiencies without unduly disrupting business operations, environmental regulatory considerations and general economic and business conditions. Total does not assume any obligation to update publicly any forward-looking statement, whether as a result of new information, future events or otherwise. Further information on factors which could affect the company’s financial results is provided in documents filed by the Group and its affiliates with the French Autorité des Marchés Financiers and the US Securities and Exchange Commission.

The business segment information is presented in accordance with the Group internal reporting system used by the Chief operating decision maker to measure performance and allocate resources internally. Due to their particular nature or significance, certain transactions qualified as “special items” are monitored at the Group level and excluded from the business segment figures. In general, special items relate to transactions that are significant, infrequent or unusual. However, in certain instances, certain transactions such as restructuring costs or assets disposals, which are not considered to be representative of normal course of business, may be qualified as special items although they may have occurred within prior years or are likely to recur within following years.

¹³ ROACE = adjusted net operating income divided by the average capital employed using replacement cost

11

2, place de la Coupole
La Défense 6
92 400 Courbevoie France
Fax : 33 (1) 47 44 68 21

Catherine ENCK
Tel. 33 (1) 47 44 37 76

Patricia MARIE
Tel. 33 (1) 47 44 45 90

Paul FLOREN
Tel. : 33 (1) 47 44 45 91

Christine de CHAMPEAUX
Tel : 33 (1) 47 44 47 49

Bertille ARON
Tel. : 33 (1) 47 44 67 12

Mary DWYER
Tel.: 33 (1) 47 44 21 19

Isabelle CABROL
Tel. : 33 (1) 47 44 64 24

Charles-Edouard ANFRAY
Tel. : 33 (1) 47 44 65 55

Franklin BOITIER
Tel. : 33 (1) 47 44 59 81

Philippe GATEAU
Tel. : 33 (1) 47 44 47 05

TOTAL S.A.
Capital 6 214 875 300 euros
542 051 180 R.C.S. Nanterre

www.total.com

In accordance with IAS 2, the Group values inventories of crude oil and petroleum products in the financial statements in accordance with the FIFO (First in, First out) method and other inventories using the weighted-average cost method. However, in the note setting forth information by business segment, the Group continues to present the results for the Downstream segment according to the replacement cost method and those of the Chemicals segment according to the LIFO (Last in, First out) method in order to ensure the comparability of the Group’s results with those of its main competitors, notably from North America. The inventory valuation effect is the difference between the results according to the FIFO method and the results according to the replacement cost or LIFO method.

In this framework, performance measures such as adjusted operating income, adjusted net operating income and adjusted net income are defined as incomes using replacement cost, adjusted for special items and excluding Total’s equity share of the amortization of intangibles related to the Sanofi-Aventis merger. They are meant to facilitate the analysis of the financial performance and the comparison of income between periods.

12

2, place de la Coupole
La Défense 6
92 400 Courbevoie France
Fax : 33 (1) 47 44 68 21

Catherine ENCK
Tel. 33 (1) 47 44 37 76

Patricia MARIE
Tel. 33 (1) 47 44 45 90

Paul FLOREN
Tel. : 33 (1) 47 44 45 91

Christine de CHAMPEAUX
Tel : 33 (1) 47 44 47 49

Bertille ARON
Tel. : 33 (1) 47 44 67 12

Mary DWYER
Tel.: 33 (1) 47 44 21 19

Isabelle CABROL
Tel. : 33 (1) 47 44 64 24

Charles-Edouard ANFRAY
Tel. : 33 (1) 47 44 65 55

Franklin BOITIER
Tel. : 33 (1) 47 44 59 81

Philippe GATEAU
Tel. : 33 (1) 47 44 47 05

TOTAL S.A.
Capital 6 214 875 300 euros
542 051 180 R.C.S. Nanterre

www.total.com

Operating information by segment
Third quarter and first nine months of 2005

l Upstream

							Combined production by region
3Q05		3Q04		%			(kboe/d)	9M05		9M04		%
	698		701		—		Europe		773		824		-6	%
	753		821		-8	%	Africa		783		804		-3	%
	40		65		-38	%	North America		44		69		-36	%
	255		243		+5	%	Far East		248		240		+3	%
	407		408		—		Middle East		394		403		-2	%
	266		231		+15	%	South America		247		222		+11	%
	9		10		-10	%	Rest of world		9		9		—
	2,428		2,479		-2	%	Total		2,498		2,571		-3	%

3Q05		3Q04		%			Liquids production by region (kb/d)	9M05		9M04		%
	367		368		—		Europe		392		418		-6	%
	682		752		-9	%	Africa		703		732		-4	%
	9		19		-53	%	North America		10		20		-50	%
	30		30		—		Far East		30		31		-3	%
	354		356		-1	%	Middle East		342		350		-2	%
	157		139		+13	%	South America		146		138		+6	%
	8		10		-20	%	Rest of world		8		9		-11	%
	1,607		1,674		-4	%	Total		1,631		1,698		-4	%

13

2, place de la Coupole
La Défense 6
92 400 Courbevoie France
Fax : 33 (1) 47 44 68 21

Catherine ENCK
Tel. 33 (1) 47 44 37 76

Patricia MARIE
Tel. 33 (1) 47 44 45 90

Paul FLOREN
Tel. : 33 (1) 47 44 45 91

Christine de CHAMPEAUX
Tel : 33 (1) 47 44 47 49

Bertille ARON
Tel. : 33 (1) 47 44 67 12

Mary DWYER
Tel.: 33 (1) 47 44 21 19

Isabelle CABROL
Tel. : 33 (1) 47 44 64 24

Charles-Edouard ANFRAY
Tel. : 33 (1) 47 44 65 55

Franklin BOITIER
Tel. : 33 (1) 47 44 59 81

Philippe GATEAU
Tel. : 33 (1) 47 44 47 05

TOTAL S.A.
Capital 6 214 875 300 euros
542 051 180 R.C.S. Nanterre

www.total.com

3Q05		3Q04		%			Gas production by region (Mcfd)	9M05		9M04		%
	1,798		1,801		—		Europe		2,068		2,201		-6	%
	377		367		+3	%	Africa		426		378		+13	%
	159		245		-35	%	North America		180		261		-31	%
	1,252		1,196		+5	%	Far East		1,218		1,167		+4	%
	288		279		+3	%	Middle East		280		283		-1	%
	615		498		+23	%	South America		568		459		+24	%
	2		—	ns			Rest of the world		2		—	ns
	4,491		4,386		+2	%	Total		4,742		4,749		—

l Downstream

							Refined product sales by region
3Q05		3Q04		%			(kb/d)*	9M05		9M04		%
	2,742		2,829		-3	%	Europe		2,689		2,739		-2	%
	346		297		+16	%	Africa		335		295		+14	%
	714		623		+15	%	United States		640		613		+4	%
	48		113		-58	%	Rest of world		176		167		+5	%
	3,850		3,862		—		Total*		3,840		3,814		+1	%

* includes equity share in Cepsa and trading

14

Total financial statements

Third quarter and first nine months 2005 consolidated accounts, IFRS

CONSOLIDATED STATEMENT OF INCOME

Total

(unaudited)

3rd quarter			3rd quarter					9 months			9 months
2005			2004				Amounts in millions of euros (1)	2005			2004
	38,414			32,296			Sales		103,226			88,400
	(5,206	)		(6,925	)		Excise taxes		(15,503	)		(17,559	)
	33,208			25,371			Revenues from sales		87,723			70,841
	(20,088	)		(14,689	)		Purchases, net of inventory variation		(49,874	)		(39,857	)
	(4,416	)		(4,240	)		Other operating expenses		(14,552	)		(13,903	)
	(113	)		(81	)		Unsuccessful exploration costs		(277	)		(263	)
	(1,277	)		(1,324	)		Depreciation, depletion, and amortization of tangible assets		(3,776	)		(3,826	)
							Operating income
	(89	)		(51	)		Corporate		(254	)		(253	)
	7,403			5,088			Business segments *		19,498			13,245
	7,314			5,037			Total operating income		19,244			12,992
	31			—			Other income		73			146
	(63	)		(147	)		Other expense		(242	)		(542	)
	(324	)		(171	)		Financial charge on debt		(875	)		(535	)
	257			145			Financial income on cash and cash equivalents and equity securities		658			431
	(67	)		(26	)		Cost of net debt		(217	)		(104	)
	100			92			Other financial income		304			281
	(79	)		(54	)		Other financial expense		(202	)		(158	)
	(3,768	)		(2,516	)		Income taxes		(9,655	)		(6,367	)
	281			449			Equity in income (loss) of affiliates		897			1,083
	3,749			2,835			Consolidated net income		10,202			7,331
	3,645			2,763			Group share **		9,932			7,137
	104			72			Minority interests and dividends on subsidiaries’ redeemable preferred shares		270			194
	6.20			4.57			Earnings per share (euros) ***		16.78			11.72
	6,346			4,498		*	Adjusted operating income from business segments		17,339			12,107
	3,044			2,279			Adjusted net operating income from business segments		8,807			6,414
	3,126			2,365		**	Adjusted net income		8,951			6,496
	5.32			3.91		***	Adjusted earnings per share (euros)		15.13			10.67

(1) Except for earnings per share

CONSOLIDATED BALANCE SHEET

Total

	Amounts in millions of euros
	September 30, 2005			June 30, 2005			December 31, 2004			September 30, 2004
	(unaudited)			(unaudited)						(unaudited)
ASSETS
NON-CURRENT ASSETS
Intangible assets, net		4,305			3,319			3,176			3,538
Property, plant, and equipment, net		39,264			38,290			34,906			35,675
Equity affiliates : investments and loans		12,167			11,927			10,680			8,449
Other investments		1,302			1,212			1,198			1,350
Other non-current assets		1,905			2,056			2,351			2,028
Total non-current assets		58,943			56,804			52,311			51,040
CURRENT ASSETS
Inventories, net		12,951			11,499			9,264			9,712
Accounts receivable, net		17,740			17,250			14,025			14,646
Prepaid expenses and other current assets		6,295			5,542			5,314			4,616
Cash and cash equivalents		14,989			13,577			3,860			12,541
Total current assets		51,975			47,868			32,463			41,515
TOTAL ASSETS		110,918			104,672			84,774			92,555
LIABILITIES & SHAREHOLDERS’ EQUITY
EQUITY
Common shares		6,226			6,359			6,350			6,543
Paid-in surplus and retained earnings		37,882			36,397			31,717			32,279
Cumulative translation adjustment		998			920			(1,429	)		233
Treasury shares		(5,381	)		(7,067	)		(5,030	)		(7,126	)
SHAREHOLDERS’ EQUITY — GROUP SHARE		39,725			36,609			31,608			31,929
Minority interest and subsidiaries’ redeemable preferred shares		1,015			708			810			1,105
TOTAL EQUITY		40,740			37,317			32,418			33,034
LONG-TERM LIABILITIES
Deferred income taxes		7,653			7,485			6,402			6,131
Employee benefits		3,574			3,609			3,607			3,785
Other liabilities		6,589			6,626			6,274			6,004
Total long-term liabilities		17,816			17,720			16,283			15,920
LONG-TERM DEBT		12,778			11,485			9,773			10,694
CURRENT LIABILITIES
Accounts payable		13,473			12,721			11,672			12,010
Other creditors and accrued liabilities		14,061			12,507			11,148			10,816
Short-term borrowings and bank overdafts		12,050			12,922			3,480			10,081
Total current liabilities		39,584			38,150			26,300			32,907
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY		110,918			104,672			84,774			92,555

CONSOLIDATED STATEMENT OF CASH FLOW

Total

(unaudited)

3rd quarter			3rd quarter				9 months			9 months
2005			2004			Amounts in millions of euros	2005			2004
						CASH FLOW FROM OPERATING ACTIVITIES
	3,749			2,835		Consolidated net income		10,202			7,331
	1,315			1,397		Depreciation, depletion, and amortization		3,915			4,007
	206			192		Long-term liabilities, valuation allowances, and deferred taxes		1,070			419
	—			—		Impact of coverage of pension benefit plans		—			—
	113			81		Unsuccessful exploration costs		277			263
	(31	)		4		(Gains)/Losses on sales of assets		(73	)		(142	)
	(159	)		(358	)	Equity in income of affiliates (in excess of)/less than dividends received		(335	)		(562	)
	27			134		Other changes, net		70			245
	5,220			4,285		Cash flow from operating activities before changes in working capital		15,126			11,561
	(456	)		(210	)	(Increase)/Decrease in operating assets and liabilities		(3,628	)		(721	)
	4,764			4,075		CASH FLOW FROM OPERATING ACTIVITIES (1)		11,498			10,840
						CASH FLOW USED IN INVESTING ACTIVITIES
	(2,178	)		(1,688	)	Intangible assets and property, plant, and equipment additions		(5,674	)		(4,596	)
	(84	)		(80	)	Exploration expenditures charged to expenses		(223	)		(238	)
	(903	)		(28	)	Acquisitions of subsidiaries, net of cash acquired		(903	)		(37	)
	(62	)		(19	)	Investments in equity affiliates and other securities		(134	)		(108	)
	(130	)		(152	)	Increase in long-term loans		(462	)		(596	)
	(3,357	)		(1,967	)	Investments		(7,396	)		(5,575	)
	31			28		Proceeds from sale of intangible assets and property, plant, and equipment		225			171
	—			—		Proceeds from sale of subsidiaries, net of cash sold		11			1
	69			8		Proceeds from sale of non-current investments		112			49
	148			149		Repayment of long-term loans		490			317
	248			185		Total divestitures		838			538
	(3,109	)		(1,782	)	CASH FLOW USED IN INVESTING ACTIVITIES		(6,558	)		(5,037	)
						CASH FLOW FROM FINANCING ACTIVITIES
						Issuance and repayment of shares:
	9			—		Parent company’s shareholders		9			371
	(655	)		(655	)	Purchase of treasury shares		(2,674	)		(2,563	)
	8			36		Minority shareholders		79			118
	—			—		Subsidiaries’ redeemable preferred shares		(156	)		—
						Cash dividends paid:
	—			—		- Parent company’s shareholders		(1,765	)		(2,853	)
	—			(4	)	- Minority shareholders		(152	)		(145	)
	1,197			460		Net issuance/(repayment) of long-term debt		2,235			1,700
	(759	)		(680	)	Increase/(Decrease) in short-term borrowings and bank overdrafts		7,433			5,189
	—			1		Other changes, net		(1	)		(2	)
	(200	)		(842	)	CASH FLOW FROM FINANCING ACTIVITIES		5,008			1,815
	1,455			1,451		Net increase/decrease in cash and cash equivalents		9,948			7,618
	(43	)		(236	)	Effect of exchange rates and changes in reporting entity on cash and cash equivalents		1,181			63
	13,577			11,326		Cash and cash equivalents at the beginning of the period		3,860			4,860
	14,989			12,541		CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD		14,989			12,541

(1) Including payments relating to the Toulouse AZF plant explosion, offset by a long-term liability write-back of 14 million euros for the third quarter 2005, 65 million euros for the first nine months 2005.

CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS’ EQUITY

Total

(unaudited)

							Paid-in															Subsidiaries’
							surplus and			Cumulative												redeemable
	Common shares issued						retained			translation			Treasury shares						Shareholders’			preferred			Minority			Total
(Amounts in millions of euros)	Number			Amount			earnings			adjustment			Number			Amount			equity			shares			interest			equity
As of January 1, 2004 (French GAAP)		649,118,236			6,491			30,408			(3,268	)		(26,256,899	)		(3,225	)		30,406			396			664			31,466
IFRS adjustments		—			—			(3,048	)		3,268			(10,855,206	)		(1,388	)		(1,168	)		—			19			(1,149	)
As of January 1, 2004 (IFRS)		649,118,236			6,491			27,360			—			(37,112,105	)		(4,613	)		29,238			396			683			30,317
Cash dividend		—			—			(2,853	)		—			—			—			(2,853	)		—			(145	)		(2,998	)
Net income for the first nine months		—			—			7,137			—			—			—			7,137			1			193			7,331
Issuance of shares		5,195,630			52			445			—			—			—			497			—			—			497
Purchase of treasury shares		—			—			—			—			(16,500,000	)		(2,563	)		(2,563	)		—			—			(2,563	)
Cancellation of repurchased shares		—			—			—			—			—			—			—			—			—			—
Sale of treasury shares (1)		—			—			11			—			583,981			50			61			—			—			61
Translation adjustments		—			—			—			233			—			—			233			6			9			248
Other (2)		—			—			179			—			—			—			179			—			(38	)		141
As of September 30, 2004		654,313,866			6,543			32,279			233			(53,028,124	)		(7,126	)		31,929			403			702			33,034
Cash dividend		—			—			(1,440	)		—			—			—			(1,440	)		—			(62	)		(1,502	)
Net income for the last quarter		—			—			3,731			—			—			—			3,731			5			82			3,818
Issuance of shares		575,174			6			33			—			—			—			39			—			—			39
Purchase of treasury shares		—			—			—			—			(6,050,000	)		(991	)		(991	)		—			—			(991	)
Cancellation of repurchased shares		(19,873,932	)		(199	)		(2,877	)		—			19,873,932			3,076			—			—			—			—
Sale of treasury shares (1)		—			—			3			—			131,705			11			14			—			—			14
Translation adjustments		—			—			—			(1,662	)		—			—			(1,662	)		(20	)		(28	)		(1,710	)
Repayment of subsidiaries’ redeemable preferred shares		—			—			—			—			—			—			—			(241	)		—			(241	)
Other (2)		—			—			(12	)		—			—			—			(12	)		—			(31	)		(43	)
As of December 31, 2004 (IFRS)		635,015,108			6,350			31,717			(1,429	)		(39,072,487	)		(5,030	)		31,608			147			663			32,418
Cash dividend		—			—			(1,765	)		—			—			—			(1,765	)		—			(152	)		(1,917	)
Net income for the first nine months		—			—			9,932			—			—			—			9,932			1			269			10,202
Issuance of shares		1,076,359			11			77			—			—			—			88			—			—			88
Purchase of treasury shares		—			—			—			—			(15,693,500	)		(2,927	)		(2,927	)		—			—			(2,927	)
Cancellation of repurchased shares		(13,527,578	)		(135	)		(2,248	)		—			13,527,578			2,383			—			—			—			—
Sale of treasury shares (1)		—			—			30			—			1,774,063			193			223			—			—			223
Repayment of subsidiaries’ redeemable preferred shares		—			—			—			—			—			—			—			(156	)		—			(156	)
Translation adjustments		—			—			—			2,427			—			—			2,427			8			49			2,484
Other (2)		—			—			139			—			—			—			139			—			186			325
As of September 30, 2005		622,563,889			6,226			37,882			998			(39,464,346	)		(5,381	)		39,725			—			1,015			40,740

(1)	Treasury shares related to the stock option purchase plans
(2)	Mainly due to the charge related to stock options

BUSINESS SEGMENT INFORMATION

Total

(unaudited)

	Amounts in millions of euros
3rd quarter 2005		Upstream			Downstream			Chemicals			Corporate			Intercompany			Total
Non-Group sales			5,065			27,936			5,401			12						38,414
Intersegment sales			5,543			1,171			265			30			(7,009	)		—
Excise taxes			—			(5,206	)		—			—			—			(5,206	)
Revenues from sales			10,608			23,901			5,666			42			(7,009	)		33,208
Operating expenses			(4,592	)		(21,697	)		(5,214	)		(123	)		7,009			(24,617	)
Depreciation, depletion, and amortization of tangible assets			(817	)		(265	)		(187	)		(8	)					(1,277	)
Operating income			5,199			1,939			265			(89	)					7,314
Equity in income (loss) of affiliates and other items			140			67			8			55						270
Tax on net operating income			(3,137	)		(640	)		(74	)		61						(3,790	)
Net operating income			2,202			1,366			199			27						3,794
Net cost of net debt																		(45	)
Minority interests and dividends on subsidiaries’ redeemable preferred shares																		(104	)
Net income																		3,645

3rd quarter 2005
(adjustments) (*)	Upstream		Downstream			Chemicals			Corporate			Intercompany	Total
Non-Group sales
Intersegment sales
Excise taxes
Revenues from sales
Operating expenses		—		958			99			—				1,057
Depreciation, depletion, and amortization of tangible assets		—		—			—			—				—
Operating income (1)		—		958			99			—				1,057
Equity in income (loss) of affiliates and other items (2)		—		18			(5	)		(200	)			(187	)
Tax on net operating income		—		(316	)		(31	)		—				(347	)
Net operating income (1)		—		660			63			(200	)			523
Net cost of net debt														—
Minority interests and dividends on subsidiaries’ redeemable preferred shares														(4	)
Net income														519
(*)   Adjustments include special items, inventory valuation effect and equity share of amortization of intangible assets related to the Sanofi-Aventis merger
(1) Of which inventory valuation effect
On operating income		—		958			108			—
On net operating income		—		660			74			—
(2) Of which equity share of amortization of intangible assets related to the Sanofi-Aventis merger		—		—			—			(112	)

3rd quarter 2005
(adjusted)	Upstream			Downstream			Chemicals			Corporate			Intercompany			Total
Non-Group sales		5,065			27,936			5,401			12						38,414
Intersegment sales		5,543			1,171			265			30			(7,009	)		—
Excise taxes		—			(5,206	)		—			—			—			(5,206	)
Revenues from sales		10,608			23,901			5,666			42			(7,009	)		33,208
Operating expenses		(4,592	)		(22,655	)		(5,313	)		(123	)		7,009			(25,674	)
Depreciation, depletion, and amortization of tangible assets		(817	)		(265	)		(187	)		(8	)					(1,277	)
Operating income		5,199			981			166			(89	)					6,257
Equity in income (loss) of affiliates and other items		140			49			13			255						457
Tax on net operating income		(3,137	)		(324	)		(43	)		61						(3,443	)
Net operating income		2,202			706			136			227						3,271
Net cost of net debt																	(45	)
Minority interests and dividends on subsidiaries’ redeemable preferred shares																	(100	)
Net income																	3,126

3rd quarter 2005	Upstream		Downstream		Chemicals		Corporate		Intercompany		Total
Total expenditures		2,589		493		275		—		—		3,357
Divestitures at selling price		161		21		—		66		—		248
Cash flow from operating activities (3)		2,818		893		498		555		—		4,764

(3) In the Chemicals segment, this figure amounts to 512 million euros excluding 14 million euros paid relating to the Toulouse AZF plant explosion.

BUSINESS SEGMENT INFORMATION

Total

(unaudited)

	Amounts in millions of euros
3rd quarter 2004	Upstream			Downstream			Chemicals			Corporate			Intercompany			Total
Non-Group sales		3,610			23,453			5,228			5						32,296
Intersegment sales		3,984			838			220			75			(5,117	)		—
Excise taxes					(6,925	)											(6,925	)
Revenues from sales		7,594			17,366			5,448			80			(5,117	)		25,371
Operating expenses		(3,295	)		(15,872	)		(4,838	)		(122	)		5,117			(19,010	)
Depreciation, depletion, and amortization of tangible assets		(870	)		(246	)		(199	)		(9	)					(1,324	)
Operating income		3,429			1,248			411			(51	)					5,037
Equity in income (loss) of affiliates and other items		129			29			(23	)		205						340
Tax on net operating income		(2,019	)		(401	)		(124	)		16						(2,528	)
Net operating income		1,539			876			264			170						2,849
Net cost of net debt																	(14	)
Minority interests and dividends on subsidiaries’ redeemable preferred shares																	(72	)
Net income																	2,763

3rd quarter 2004
(adjustments) (*)	Upstream		Downstream			Chemicals			Corporate		Intercompany	Total
Non-Group sales
Intersegment sales
Excise taxes
Revenues from sales
Operating expenses		—		500			90			—			590
Depreciation, depletion, and amortization of tangible assets		—		—			—			—			—
Operating income (1)		—		500			90			—			590
Equity in income (loss) of affiliates and other items (2)		—		17			(19	)		—			(2	)
Tax on net operating income		—		(165	)		(23	)		—			(188	)
Net operating income (1)		—		352			48			—			400
Net cost of net debt													—
Minority interests and dividends on subsidiaries’ redeemable preferred shares													(2	)
Net income													398

(*) Adjustments include special items, inventory valuation effect and equity share of amortization of intangible assets related to the Sanofi-Aventis merger

(1) Of which inventory valuation effect
On operating income	—	500	90	—
On net operating income	—	352	58	—
(2)  Of which equity share of amortization of intangible assets related to the Sanofi-Aventis merger	—	—	—	—

3rd quarter 2004
(adjusted)	Upstream			Downstream			Chemicals			Corporate			Intercompany			Total
Non-Group sales		3,610			23,453			5,228			5						32,296
Intersegment sales		3,984			838			220			75			(5,117	)		—
Excise taxes					(6,925	)											(6,925	)
Revenues from sales		7,594			17,366			5,448			80			(5,117	)		25,371
Operating expenses		(3,295	)		(16,372	)		(4,928	)		(122	)		5,117			(19,600	)
Depreciation, depletion, and amortization of tangible assets		(870	)		(246	)		(199	)		(9	)					(1,324	)
Operating income		3,429			748			321			(51	)					4,447
Equity in income (loss) of affiliates and other items		129			12			(4	)		205						342
Tax on net operating income		(2,019	)		(236	)		(101	)		16						(2,340	)
Net operating income		1,539			524			216			170						2,449
Net cost of net debt																	(14	)
Minority interests and dividends on subsidiaries’ redeemable preferred shares																	(70	)
Net income																	2,365

3rd quarter 2004	Upstream		Downstream		Chemicals		Corporate			Intercompany	Total
Total expenditures		1,385		376		211		(5	)			1,967
Divestitures at selling price		114		45		19		7				185
Cash flow from operating activities (3)		2,269		852		300		654				4,075

(3) In the Chemicals segment, this figure amounts to 365 million euros excluding 65 million euros paid relating to the Toulouse AZF plant explosion.

BUSINESS SEGMENT INFORMATION

Total

(unaudited)

	Amounts in millions of euros
9 months 2005	Upstream			Downstream			Chemicals			Corporate			Intercompany			Total
Non-Group sales		14,080			72,471			16,655			20						103,226
Intersegment sales		13,936			3,135			911			108			(18,090	)		—
Excise taxes					(15,503	)											(15,503	)
Revenues from sales		28,016			60,103			17,566			128			(18,090	)		87,723
Operating expenses		(12,184	)		(54,390	)		(15,861	)		(358	)		18,090			(64,703	)
Depreciation, depletion, and amortization of tangible assets		(2,411	)		(784	)		(557	)		(24	)					(3,776	)
Operating income		13,421			4,929			1,148			(254	)		—			19,244
Equity in income (loss) of affiliates and other items		393			294			(105	)		248						830
Tax on net operating income		(7,917	)		(1,641	)		(311	)		142						(9,727	)
Net operating income		5,897			3,582			732			136						10,347
Net cost of net debt																	(145	)
Minority interests and dividends on subsidiaries’ redeemable preferred shares																	(270	)
Net income																	9,932

9 months 2005
(adjustments) (*)	Upstream		Downstream			Chemicals			Corporate			Intercompany	Total
Non-Group sales
Intersegment sales
Excise taxes
Revenues from sales
Operating expenses		—		2,113			57			—				2,170
Depreciation, depletion, and amortization of tangible assets		—		—			(11	)		—				(11	)
Operating income (1)		—		2,113			46			—				2,159
Equity in income (loss) of affiliates and other items (2)		—		48			(139	)		(414	)			(505	)
Tax on net operating income		—		(696	)		32			—				(664	)
Net operating income (1)		—		1,465			(61	)		(414	)			990
Net cost of net debt														—
Minority interests and dividends on subsidiaries’ redeemable preferred shares														(9	)
Net income														981
(*)  Adjustments include special items, inventory valuation effect and equity share of amortization of intangible assets related to the Sanofi-Aventis merger
(1) Of which inventory valuation effect
On operating income		—		2,113			66			—
On net operating income		—		1,465			48			—
(2) Of which equity share of amortization of intangible assets related to the Sanofi-Aventis merger		—		—			—			(249	)

9 months 2005
(adjusted)	Upstream			Downstream			Chemicals			Corporate			Intercompany			Total
Non-Group sales		14,080			72,471			16,655			20						103,226
Intersegment sales		13,936			3,135			911			108			(18,090	)		—
Excise taxes					(15,503	)											(15,503	)
Revenues from sales		28,016			60,103			17,566			128			(18,090	)		87,723
Operating expenses		(12,184	)		(56,503	)		(15,918	)		(358	)		18,090			(66,873	)
Depreciation, depletion, and amortization of tangible assets		(2,411	)		(784	)		(546	)		(24	)					(3,765	)
Operating income		13,421			2,816			1,102			(254	)					17,085
Equity in income (loss) of affiliates and other items		393			246			34			662						1,335
Tax on net operating income		(7,917	)		(945	)		(343	)		142						(9,063	)
Net operating income		5,897			2,117			793			550						9,357
Net cost of net debt																	(145	)
Minority interests and dividends on subsidiaries’ redeemable preferred shares																	(261	)
Net income																	8,951

9 months 2005	Upstream		Downstream		Chemicals		Corporate		Intercompany	Total
Total expenditures		5,590		1,069		678		59			7,396
Divestitures at selling price		551		124		30		133			838
Cash flow from operating activities (3)		7,737		2,512		785		464			11,498

(3) In the Chemicals segment, this figure amounts to 850 million euros excluding 65 million euros paid relating to the Toulouse AZF plant explosion.

BUSINESS SEGMENT INFORMATION

Total

(unaudited)

	Amounts in millions of euros
9 months 2004	Upstream			Downstream			Chemicals			Corporate			Intercompany			Total
Non-Group sales		10,853			62,725			14,797			25						88,400
Intersegment sales		10,416			2,034			511			128			(13,089	)		—
Excise taxes					(17,559	)											(17,559	)
Revenues from sales		21,269			47,200			15,308			153			(13,089	)		70,841
Operating expenses		(9,409	)		(43,498	)		(13,825	)		(380	)		13,089			(54,023	)
Depreciation, depletion, and amortization of tangible assets		(2,444	)		(744	)		(612	)		(26	)					(3,826	)
Operating income		9,416			2,958			871			(253	)					12,992
Equity in income (loss) of affiliates and other items		394			125			(211	)		502						810
Tax on net operating income		(5,356	)		(934	)		(204	)		95						(6,399	)
Net operating income		4,454			2,149			456			344						7,403
Net cost of net debt																	(72	)
Minority interests and dividends on subsidiaries’ redeemable preferred shares																	(194	)
Net income																	7,137

9 months 2004
(adjustments) (*)	Upstream		Downstream			Chemicals			Corporate		Intercompany	Total
Non-Group sales
Intersegment sales
Excise taxes
Revenues from sales
Operating expenses		—		936			202			—			1,138
Depreciation, depletion, and amortization of tangible assets		—		—			—			—			—
Operating income (1)		—		936			202			—			1,138
Equity in income (loss) of affiliates and other items (2)		—		29			(220	)		—			(191	)
Tax on net operating income		—		(309	)		7			—			(302	)
Net operating income (1)		—		656			(11	)		—			645
Net cost of net debt													—
Minority interests and dividends on subsidiaries’ redeemable preferred shares													(4	)
Net income													641
(*)  Adjustments include special items, inventory valuation effect and equity share of amortization of intangible assets related to the Sanofi-Aventis merger
(1) Of which inventory valuation effect
On operating income		—		936			202			—
On net operating income		—		656			133			—
(2) Of which equity share of amortization of intangible assets related to the Sanofi-Aventis merger		—		—			—			—

9 months 2004
(adjusted)	Upstream			Downstream			Chemicals			Corporate			Intercompany			Total
Non-Group sales		10,853			62,725			14,797			25						88,400
Intersegment sales		10,416			2,034			511			128			(13,089	)		—
Excise taxes					(17,559	)											(17,559	)
Revenues from sales		21,269			47,200			15,308			153			(13,089	)		70,841
Operating expenses		(9,409	)		(44,434	)		(14,027	)		(380	)		13,089			(55,161	)
Depreciation, depletion, and amortization of tangible assets		(2,444	)		(744	)		(612	)		(26	)					(3,826	)
Operating income		9,416			2,022			669			(253	)					11,854
Equity in income (loss) of affiliates and other items		394			96			9			502						1,001
Tax on net operating income		(5,356	)		(625	)		(211	)		95						(6,097	)
Net operating income		4,454			1,493			467			344						6,758
Net cost of net debt																	(72	)
Minority interests and dividends on subsidiaries’ redeemable preferred shares																	(190	)
Net income																	6,496

9 months 2004	Upstream		Downstream		Chemicals		Corporate		Intercompany	Total
Total expenditures		3,933		951		645		46			5,575
Divestitures at selling price		315		127		68		28			538
Cash flow from operating activities (3)		7,248		3,009		262		321			10,840

(3) In the Chemicals segment, this figure amounts to 549 million euros excluding 287 million euros paid relating to the Toulouse AZF plant explosion.

CONSOLIDATED STATEMENT OF INCOME (Impact of adjustments)

Total

(unaudited)

	9 months									9 months
	2005									2004
							Consolidated
Amounts in millions of euros	Adjusted			Adjustments			statement of income			Adjusted
Sales		103,226			—			103,226			88,400
Excise taxes		(15,503	)		—			(15,503	)		(17,559	)
Revenues from sales		87,723			—			87,723			70,841
Purchases, net of inventory variation		(52,053	)		2,179			(49,874	)		(40,995	)
Other operating expenses		(14,543	)		(9	)		(14,552	)		(13,903	)
Unsuccessful exploration costs		(277	)		—			(277	)		(263	)
Depreciation, depletion, and amortization of tangible assets		(3,765	)		(11	)		(3,776	)		(3,826	)
Operating income								—			—
Corporate		(254	)		—			(254	)		(253	)
Business segments		17,339			2,159			19,498			12,107
Total operating income		17,085			2,159			19,244			11,854
Other income		73			—			73			146
Other expense		(98	)		(144	)		(242	)		(322	)
Financial charge on debt		(875	)		—			(875	)		(535	)
Financial income on cash and cash equivalents and equity securities		658			—			658			431
Cost of net debt		(217	)		—			(217	)		(104	)
Other financial income		304			—			304			281
Other financial expense		(202	)		—			(202	)		(158	)
Income taxes		(8,991	)		(664	)		(9,655	)		(6,065	)
Equity in income (loss) of affiliates		1,258			(361	)		897			1,054
Consolidated net income		9,212			990			10,202			6,686
Group share		8,951			981			9,932			6,496
Minority interests and dividends on subsidiaries’ redeemable preferred shares		261			9			270			190

	3rd quarter									3rd quarter
	2005									2004
							Consolidated
Amounts in millions of euros	Adjusted			Adjustments			statement of income			Adjusted
Sales		38,414			—			38,414			32,296
Excise taxes		(5,206	)		—			(5,206	)		(6,925	)
Revenues from sales		33,208			—			33,208			25,371
Purchases, net of inventory variation		(21,154	)		1,066			(20,088	)		(15,279	)
Other operating expenses		(4,407	)		(9	)		(4,416	)		(4,240	)
Unsuccessful exploration costs		(113	)		—			(113	)		(81	)
Depreciation, depletion, and amortization of tangible assets		(1,277	)		—			(1,277	)		(1,324	)
Operating income											—
Corporate		(89	)		—			(89	)		(51	)
Business segments		6,346			1,057			7,403			4,498
Total operating income		6,257			1,057			7,314			4,447
Other income		31			—			31			—
Other expense		(56	)		(7	)		(63	)		(129	)
Financial charge on debt		(324	)		—			(324	)		(171	)
Financial income on cash and cash equivalents and equity securities		257			—			257			145
Cost of net debt		(67	)		—			(67	)		(26	)
Other financial income		100			—			100			92
Other financial expense		(79	)		—			(79	)		(54	)
Income taxes		(3,421	)		(347	)		(3,768	)		(2,328	)
Equity in income (loss) of affiliates		461			(180	)		281			433
Consolidated net income		3,226			523			3,749			2,435
Group share		3,126			519			3,645			2,365
Minority interests and dividends on subsidiaries’ redeemable preferred shares		100			4			104			70

TOTAL
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR
THE FIRST NINE MONTHS OF 2005
(unaudited)

INTRODUCTION

The consolidated financial statements of TOTAL and its subsidiaries (together, the Company or Group) as of September 30, 2005 have been prepared on the basis of IFRS (International Financial Reporting Standards) recognition and measurement principles and in accordance with presentation rules for interim financial statements as defined in the General regulation of the AMF (Autorité des marchés financiers).

Accounting principles applicable at September 30, 2005 are described in Note 1. Given the potential evolution of accounting principles, these principles could be different from that which will be ultimately applied by the Group at year-end. However, based on the information currently available, the Group does not anticipate any significant changes to the accounting policies presented below.

As of September 30, 2005, standards and interpretations applied by the Group are not different from IFRS adopted by the European Commission, subject to the following transitional provisions:

— The Group anticipated the application of IFRS 6 “Exploration and Evaluation of Mineral Resources”. This standard, currently under approval by the European Commission, is compatible with the Group’s previous accounting method for exploration and production costs (see note 1 G: Oil and gas exploration and producing properties).

— The standard IAS 39 “Financial Instruments: Recognition and Measurement” was endorsed by the European Commission on November 19, 2004 with the exception of certain provisions. The differences between the standard issued by the IASB (International Accounting Standards Board) and the one endorsed by the European Commission do not affect the Group.

— Compliance with IAS 34, which implies a release of 2004 comparative financial statements in accordance with IFRS, will become effective at the latest upon publication of the 2005 annual financial statements.

Information concerning the first-time application of IFRS

Pursuant to IFRS 1 “First-time adoption of IFRS”, the Group has chosen to apply the following exceptions:

— offsetting cumulative translation adjustment (CTA) against retained earnings, as of January 1, 2004,

— recording unrecognized actuarial losses and gains as of January 1, 2004 to retained earnings,

— non-restatement of business combinations that occurred before January 1, 2004.

IAS 32 and IAS 39 related to financial instruments have been applied from January 1, 2004. Furthermore, the standard IFRS 2 “Share-based payment” has been applied retrospectively and not solely to share-based compensation plans granted after November 7, 2002.

Descriptions of the effect of the transition to IFRS on the net equity and the results of the Group have been provided in the 2004 Annual Report, and in the 2004 quarterly summarized financial statements which have been published in May 2005.

1

TOTAL

Notes to consolidated statements for the first nine months of 2005

1. ACCOUNTING POLICIES

The consolidated financial statements have been prepared on a historical cost basis, except for certain financial assets and liabilities that have been measured at fair value.

The main accounting policies used by the Group are described below.

A) PRINCIPLES OF CONSOLIDATION

The subsidiaries which are directly controlled by the parent company or indirectly controlled by other consolidated companies are consolidated.

The Company’s interests in subsidiary ventures are proportionately consolidated.

Investments in companies, over which the Group has significant influence, are accounted for by the equity method. Significant influence is presumed when the Group holds, directly or indirectly (eg through subsidiaries), 20% or more of the voting power of the investee.

Companies in which ownership interest is less than 20%, but over which the Company has the ability to exercise significant influence, are also accounted for by the equity method.

All material intercompany accounts, transactions and income have been eliminated.

B) FOREIGN CURRENCY TRANSLATION

The financial statements of subsidiaries are prepared in the currency that most clearly reflects their business environment. This is referred to as their functional currency.

(i) Monetary transactions

Transactions denominated in foreign currencies are translated at the exchange rate prevailing when the transaction is realized. At each balance sheet date, the monetary assets and liabilities are translated at the closing rate and the resulting exchange differences are recognized in “Other income” or “Other expense”.

(ii) Translation of financial statements denominated in foreign currencies

All assets and liabilities of consolidated subsidiaries or equity affiliates denominated in foreign currencies are translated into euros on the basis of exchange rates at the end of the period. The consolidated statements of income and of cash flows are translated using the average exchange rates during the period. Foreign exchange differences resulting from such translation are recorded either in “Cumulative translation adjustments” (for the Company’s share) or in “Minority interests” as deemed appropriate.

C) SALES AND REVENUES FROM SALES

Revenues from sales of products are recognized when the significant risks and rewards of ownership have been passed to the buyer. Sales figures are presented before deduction of excise taxes collected by the Group within the course of its oil distribution operations. Excise taxes are deducted from sales in order to obtain the Revenue from sales indicator.

Revenues from sales of crude oil, natural gas and coal are recorded upon transfer of title, according to the terms of the sales contracts. Revenues from the production of crude oil and natural gas properties in which TOTAL has an interest with the other producers are recognized on the basis of the company’s net working interest (entitlement method).

Revenues from gas transport are recognized when the services are rendered, based on the quantities transported measured according to procedures defined in each service contract.

Revenues from sales of electricity, of refining-marketing activities and of chemicals products are recorded upon transfer of title, according to the terms of the related contracts.

Revenues from services are recognized when the services have been performed.

Oil and gas sales are inclusive of quantities delivered that represent production royalties and taxes.

Certain transactions within the trading activities (contracts involving quantities that are purchased outside the Group then resold outside the Group) are shown at their net value in sales.

2

TOTAL

Notes to consolidated statements for the first nine months of 2005

Exchanges of crude oil and petroleum products within normal trading activities are excluded from sales.

D) SHARE-BASED PAYMENTS

The Group applies IFRS 2 “Share-based payment” to employee stock-option and share-purchase plans and to capital increases reserved for employees. The benefits are determined by reference to the fair value of the instruments granted.

The cost of options is valued according to the Black-Scholes method at the grant date. The expense is allocated on a straight-line basis between the grant date and vesting date.

For employee-reserved capital increases, the cost is immediately recognized as an expense. A discount reduces the expense in order to take into account the non-transferability of the shares awarded to the employees over a period of five years according to French Regulations.

These employee benefits are recognized as expenses with a corresponding credit to shareholders’ equity.

E) INCOME TAXES

The Company uses the liability method whereby deferred income taxes are recorded based upon the temporary differences between the financial statement and tax basis of assets and liabilities, and for carryforwards of unused tax losses and tax credits.

Deferred tax assets and liabilities are measured using the tax rates that have been enacted or substantively enacted at the balance sheet date. The effect of the change in the tax rate is recognized either in the consolidated statement of income or in equity depending on the item it is related to.

Deferred tax assets are recognized where future recovery is probable.

Deferred tax liabilities on temporary differences resulting from the difference between the carrying value of the equity-method investments and the taxable basis of these investments are recognized. The deferred tax calculation is based on the expected future tax effect (dividend distribution rate or tax rate on the gain or loss upon sale of these investments).

Taxes paid for the Upstream production are included in operating expenses. They include taxes related to historical concessions held by the company in the Middle East producing countries.

F) DILUTED EARNINGS PER SHARE

Earnings per common share are calculated by dividing net income by the fully-diluted weighted-average number of common shares and common share equivalents outstanding during the period. Treasury shares deducted from consolidated shareholders’ equity are not considered outstanding for purposes of this calculation which also takes into account the dilutive effect of stock-options and capital increases.

The weighted-average number of fully-diluted shares is calculated in accordance with the treasury stock method. The proceeds which would be recovered in the event of an exercise of options related to dilutive instruments are presumed to be a buyback of shares at market price as of the closing date of the period. The number of shares thereby obtained leads to a reduction in the total number of shares that would result from the exercise of options.

G) OIL AND GAS EXPLORATION AND PRODUCING PROPERTIES

The Group applies IFRS 6 “Exploration and Evaluation of Mineral Resources”. Oil and Gas exploration and production properties and assets are accounted for in accordance with the “successful efforts” method.

(i) Exploration costs

Geological and geophysical costs, including seismic surveys for exploration purposes are expensed as incurred.

Exploration leasehold acquisition costs are capitalized as intangible assets when acquired, impairment is determined regularly, property by property, on the basis of the results of the exploratory activity and management’s evaluation.

In the event of a discovery, the unproved leasehold rights are transferred to proved leasehold rights at their net book value as soon as proved reserves are booked.

3

TOTAL

Notes to consolidated statements for the first nine months of 2005

Exploratory wells are accounted for as follows:

— Costs of exploratory wells that have found proved reserves are capitalized. Capitalized successful exploration wells are then depreciated using the unit-of-production method based on proved developed reserves.

— Costs of dry exploratory wells and wells that have not found proved reserves, are charged to expense.

— Costs of exploratory wells are temporarily capitalized until a determination is made as to whether the well has found proved reserves if both of the following conditions are met:

•	The well has found a sufficient quantity of reserves to justify its completion as a producing well, if appropriate, assuming that the required capital expenditure is made;
•	The Company is making sufficient progress assessing the reserves and the economic and operating viability of the project.
	This progress is evaluated on the basis of indicators such as whether additional exploratory works are under way or firmly planned (wells, seismic or significant studies), whether costs are being incurred for development studies and whether the Company is waiting for governmental or other third-party authorization of a proposed project, or availability of capacity on an existing transport or processing facility.

Costs of exploratory wells not meeting these conditions are charged to expense.

(ii) Oil and Gas producing assets

Development costs incurred for the drilling of development wells and in the construction of production facilities are capitalized, together with interest costs incurred during the period of construction and estimated discounted costs of asset retirement obligations. The rate of depletion is equal to the ratio of oil and gas production for the period to proved developed reserves (unit-of-production method).

With respect to production sharing contracts, this computation is based on the portion of production and reserves assigned to the Company taking into account estimates based on the contractual clauses regarding the reimbursement of exploration and development costs (cost oil) as well as the sharing of hydrocarbon rights (profit oil).

Transportation assets are depreciated using the unit-of-production method based on throughput or by using the straight-line method whichever best reflects the economic life of the asset.

Proved leasehold rights are depreciated using the unit-of-production method based on proved reserves.

H) OTHER INTANGIBLE ASSETS

Other intangible assets include goodwill, patents, trademarks, and leasehold rights.

Goodwill in a consolidated company is calculated as the excess of the cost of shares, including transaction expenses, over the Group’s equity in the fair value of the net assets at the acquisition date. Goodwill is not amortized but is tested for impairment annually or more frequently if there is any indication that an asset may be impaired (see note 1 K: Impairment of long-lived assets.)

Other intangible assets (except goodwill) have a definite useful life and are amortized on a straight-line basis over 10 to 40 years depending on useful life of the assets.

Research and development cost

Research costs are charged to expense as incurred. Expenses incurred during the development phase of an R&D project are capitalized as an intangible asset if all the following criteria are met:

— the technical feasibility of the project and the availability of the appropriate resources for the completion of the intangible asset,

— the ability of the asset to generate probable future economic benefits;

— the ability to value reliably the expenses attributable to the asset.

Advertising costs are charged to expense as incurred.

4

TOTAL

Notes to consolidated statements for the first nine months of 2005

I) OTHER PROPERTY, PLANT AND EQUIPMENT

Other property, plant and equipment are carried at cost. The basis includes interest expenses incurred until assets are placed into service. Equipment subsidies are deducted from the cost of the related expenditures.

Routine maintenance and repairs are charged to income as incurred. The cost of major turnarounds of refineries and large petrochemical units are capitalized and depreciated over the period of time between two major turnarounds.

Other property, plant and equipment are depreciated using the straight-line method over their useful life, as follows:

—	Furniture, office equipment, machinery and tools:	3-12 years
—	Transportation equipment:	5-20 years
—	Storage tanks and related equipment:	10-15 years
—	Specialized complex installations and pipelines:	10-30 years
—	Buildings:	10-50 years

J) LEASES

Finance leases which transfer to the Group substantially all the risks and rewards of ownership are capitalized at the fair value of the leased item or if lower at the present value of the minimum lease payments. A financial debt is recognized for the same amount. These assets are depreciated over their useful life.

All other leases are operating leases.

K) IMPAIRMENT OF LONG-LIVED ASSETS

The carrying amounts of intangible assets and property, plant and equipment are tested for possible impairment if there is any indication that the assets may be impaired. This test is performed at least annually for goodwills.

For this purpose, assets are grouped by cash-generating units (or CGUs). A cash-generating unit is a group of assets that generate cash inflows that are largely independent of the cash inflows from other groups of assets.

The recoverable amount is determined for each CGU by reference to the discounted future cash flow expected from it, based upon management’s expectation of future economic and operating conditions. If the recoverable amount is less than the carrying amount, an impairment loss on property plant and equipment, or on intangible assets is recognized either in the “Depreciation, depletion and amortization of tangible assets” or in the “Other expense”, respectively.

Impairment losses recognized in prior periods (except those related to goodwill) could be reversed up to the net book value that the asset would have, had the impairment not been recognized.

L) FINANCIAL ASSETS AND LIABILITIES

Financial assets and liabilities are financial loans and receivables, investments in non-consolidated subsidiaries, publicly-traded equity securities, financial derivatives, debt and other financial liabilities.

The accounting treatment of these items is as follows.

(i) Financial loans and receivables

These assets are recognized at amortized cost. They are tested for impairment, if there is any evidence that their fair value is less than their accounting value, and at least once a year. The potential loss is recorded in the consolidated statement of income.

(ii) Investments in non-consolidated subsidiaries and publicly-traded equity securities

These assets are classified as available for sale and measured at their fair value. For listed securities, fair value is given by the market price. If fair value is not reliably determinable, securities are recorded at their historical value. Changes in fair value are recorded in the equity. If there is any evidence of a significant and long-lasting loss, an impairment is recorded in the consolidated statement of income. This impairment is reversed in the consolidated statement of income only when the securities are sold.

5

TOTAL

Notes to consolidated statements for the first nine months of 2005

(iii) Derivative instruments

The Company uses derivative instruments in order to manage its exposure to changes in interest rates and foreign exchange rates.

Within its hedging policy, the Company enters into interest rate and foreign currency swap agreements. The Company may also use futures, caps, floors, and options.

In connection with its international trading activities, the Company, like most other oil companies, uses derivative instruments to adjust its exposure to expected fluctuations in the prices of crude oil, refined products, natural gas and of power. Furthermore, the Group uses freight-rate derivative contracts in its shipping activity in order to adjust its exposure to freight-rate fluctuations. In order to hedge against this risk, the Company uses various instruments such as futures, forwards, swaps and options on organized markets or over-the-counter markets.

Derivative instruments used by the Group are valued at fair value, and fair value changes are recognized in the statement of income.

(iv) Debt and other financial liabilities

Loans and other financial liabilities (excluding derivatives) are recognized at amortized cost, except those for which a hedge accounting can be applied.

Fixed rate loans, hedged by interest rate swaps or combined currency and interest rate swaps are recorded under fair value hedge accounting. A hedging relationship qualifies for hedge accounting only if there is formal designation and documentation of the hedging relationship at the inception of the hedge and if the hedge is expected to be highly effective throughout the financial reporting periods for which the hedge is designated. Applying fair value hedging has the following consequences:

— Loans are recognized at their fair value in the balance sheet

— Changes in fair value of the loans are recorded in the profit and loss statement where they are compensated by the changes in fair value of the swaps

M) INVENTORIES

Inventories are valued in financial statements at either the historical cost or the market value, whichever is lower. The Group values inventories of petroleum products in the financial statements according to the FIFO (First-In, First-Out) method and other inventories using the weighted-average cost method.

In note 6 setting forth information by business segment, the adjusted results of the Downstream segment and Chemicals segment are presented according to the replacement cost method in order to ensure the comparability of the Group’s results with those of its competitors, mainly North-American.

In the replacement cost method, which is similar to the LIFO (Last-In, First-Out) method, the variation of inventories in the income statement is determined by the average prices of the period rather than the historical value. The inventory valuation effect is the difference between the results according to the FIFO and the replacement cost. This effect is presented in the adjustment items in note 7.

Downstream (Refining — Marketing)

Petroleum product inventories include mainly crude oil and refined products. Refined products are made up principally of motor gasoline, kerosene, diesel fuel, heating oil and are produced by the Company’s refineries. The average life cycle of petroleum products is no longer than two months.

Crude oil cost flows include raw material and receipt costs. Refining cost flows principally include the cost of crude oil, production (energy, labor, depreciation of producing assets) and allocation of production overheads (taxes, maintenance, insurance). Retained costs, initial tooling or other deferred start-up costs or general and administrative costs are not included in the determination of the historical cost of refined products.

Chemicals

Costs of chemical product inventories consist of the cost of materials, direct labor and an allocation of production overheads. Retained costs, initial tooling or other deferred start-up costs or general and administrative costs are not included in the determination of the cost of inventories of chemicals products.

6

TOTAL

Notes to consolidated statements for the first nine months of 2005

N) TREASURY SHARES

Treasury shares held by the parent company or its subsidiaries in their individual accounts are deducted from consolidated shareholders’ equity. Gains or losses on sales of treasury shares are excluded from the determination of net income and are recognized in shareholders’ equity.

O) OTHER LONG-TERM LIABILITIES

Long-term liabilities comprise liabilities for which the amount and the timing are uncertain. They arise from environmental risks, legal and tax risks, litigations and other risks.

A provision is recognized when the Group has a present obligation (legal or constructive) as a result of a past event for which it is probable that an outflow of resources will be required, and when a reliable estimate can be made of the amount of the obligation. The amount of the contingency reserve corresponds to the best possible estimate.

P) ASSET RETIREMENT OBLIGATIONS

Asset retirement obligations, which result from a legal or constructive obligation, are recognized on the basis of a reasonable estimate of their fair value, in the period in which appears a retirement obligation.

The associated asset retirement costs are capitalized as part of the carrying amount of the long-lived assets and depreciated over the useful life of the associated fixed asset.

An entity is required to measure changes in the liability for an asset retirement obligation due to the passage of time (accretion) by applying a credit adjusted risk-free rate to the amount of the liability at the beginning of the period. The increase of the provision due to the passage of time is recognized as “Other financial expense”.

Q) EMPLOYEE BENEFITS

In accordance with the laws and practices of each country, the Company participates in employee benefit plans offering retirement, death and disability, health care and special termination benefits. These plans provide benefits based on various factors such as length of service, salaries, and contributions made to the national bodies responsible for the payment of benefits.

These plans can either be defined contribution or defined benefit pension plans and may be entirely or partially funded with investments made in various non-Company instruments such as mutual funds, insurance contracts, and securities.

For defined contribution plans, expenses correspond to the contributions paid.

For defined benefit plans, accruals and prepaid expenses are determined using the projected unit credit method. Actuarial gains and losses may result from the difference generated between projected commitments and the actuarial valuation (based on new projections and actuarial assumptions) on the same date and difference between the expected return and the actual return of plan assets.

The Group applies the corridor method to amortize its actuarial losses and gains. This method entails spreading the actuarial losses and gains in excess of 10% of the highest value of funded obligations, or externally-funded plans, over the residual employment term for those still in service.

In case of creation or of improvement to a plan, the vested portion of the cost of past services is recorded immediately in the income statement, the unvested past services costs is amortized over the vesting period.

The net periodic pension cost is recognized as “Other operating expenses”.

R) EMISSION RIGHTS

In the absence of a current IFRS standard or interpretation on accounting for emission rights, the following principles have been applied:

— Emission quotas issued free of charge are accounted for nil.

— Transactions which have been made on the market are recorded at cost.

— The liabilities resulting from potential differences between available quotas and quotas to be delivered at the end of the compliance period are accounted for as a provision, at fair market value.

7

TOTAL

Notes to consolidated statements for the first nine months of 2005

2. MAIN ACCOUNTING AND FINANCIAL INDICATORS — INFORMATION BY BUSINESS SEGMENT

The financial information for each business segment is reported on the same basis that is used internally by the chief operating decision maker in assessing segment performance and the allocation of segment resources.

Adjustment items

Due to their particular nature or significance, certain transactions qualified as “special items” are monitored at the Group level and excluded from the business segment figures. In general, special items relate to transactions that are significant, infrequent or unusual. However, in certain instances, certain transactions such as restructuring costs or assets disposals, which are not considered to be representative of normal course of business, may be qualified as special items although they may have occurred within prior years or are likely to recur within following years.

Special items, together with the inventory valuation effect (described in Note 1 M) and TOTAL’s equity share of amortization of intangible assets related to the Sanofi-Aventis merger, form the adjustment items. The detail of adjustment items is presented in Note 7.

The adjusted results (adjusted operating income, adjusted net operating income, adjusted net income) are meant to facilitate the analysis of the financial performance and the comparison of income between periods.

Operating income (measure used to evaluate operating performance)

Revenue from sales after deducting cost of goods sold and inventory variations, other operating expenses, exploration expenses and depreciation, depletion, and amortization.

Operating income excludes the amortization of intangible assets other than leasehold rights, translation adjustments, and gains or losses on the sale of assets.

Net operating income (measure used to evaluate the return on capital employed)

Operating income after deducting the amortization and the depreciation of intangible assets other than leasehold rights, translation adjustments and gains or losses on the sale of assets, as well as all other income and expenses related to capital employed (dividends from non-consolidated companies, share in income of equity method affiliates, capitalized interest expenses), and after applicable income taxes.

The income and expenses not included in net operating income which are included in net income are interest expenses related to long-term liabilities net of interest earned on cash and cash equivalents, after applicable income taxes (net cost of net debt and minority interests).

Adjusted income

Operating income, net operating income, or net income excluding the effect of adjustment items.

Capital employed

Non-current assets and working capital requirements, at replacement cost, net of deferred taxes and long-term liabilities.

ROACE (Return on Average Capital Employed)

Ratio of adjusted net operating income to average capital employed between the beginning and the end of the period.

Net debt

Long-term debt, including short-term portion, short-term borrowings, bank overdrafts less cash and cash equivalents and short-term investments.

8

TOTAL

Notes to consolidated statements for the first nine months of 2005

3. CHANGES IN THE GROUP STRUCTURE

Pursuant to its take-over bid for Deer Creek Energy Limited, the Group has acquired 82.41% of the company’s shares. As of September 30, 2005, the new subsidiary is consolidated using the full consolidation method.

During the 3^rd quarter 2005, the Group sold its 40 percent equity interest in Humber Power Limited.

There were no other major changes in the Group structure during the first nine months of 2005.

4. SHAREHOLDERS’ EQUITY

Shares held by the parent company, TOTAL S.A.

As of September 30, 2005, TOTAL S.A. held 14,381,529 of its own shares, representing 2.31% of its share capital, detailed as follows:

— 8,433,539 allocated to covering share purchase option plans and restricted shares grants for Company employees.

— 5,947,990 shares, detailed as follows :

ü	4,356,068 shares were purchased in November and December 2004, pursuant to the authorization granted by the Ordinary and Extraordinary Shareholders’ Meeting held on May 14, 2004,
ü	15,119,500 shares were purchased during the first nine months of 2005, pursuant to the authorization granted by the Ordinary and Extraordinary Shareholders’ Meeting held on May 17, 2005,
ü	13,527,578 shares were cancelled pursuant to the decision of the Board of Directors held on July 19, 2005.

These 14,381,529 shares are deducted from the consolidated shareholders’ equity.

Shares held by the subsidiaries

As of September 30, 2005, TOTAL S.A. held indirectly, through its subsidiaries 25,082,817 of its own shares, representing 4.03% of its share capital :

— 505,918 shares held by a consolidated subsidiary, Total Nucléaire, indirectly controlled by TOTAL S.A. These shares were initially acquired in order to realize short-term cash investments.

— 24,576,899 shares held by subsidiaries of Elf Aquitaine, Financière Valorgest, Sogapar and Fingestval.

These 25,082,817 shares are deducted from the consolidated shareholders’ equity.

Subsidiaries’ redeemable preferred shares

Subsidiaries’ redeemable preferred shares have been fully repaid during the first nine months of 2005.

9

TOTAL

Notes to consolidated statements for the first nine months of 2005

5. LONG-TERM DEBT

The Group has issued debenture loans through its subsidiary Total Capital during the first nine months of 2005:

— Debenture 1.625% 2005-2011 (200 million CHF)

— Debenture 6.5% 2005-2012 (100 million NZD)

— Debenture 5.75% 2005-2012 (100 million AUD)

— Debenture 3.25% 2005-2012 (100 million EUR)

— Debenture 4.125% 2005-2011 (100 million USD)

— Debenture 4.125% 2005-2011 (50 million USD)

— Debenture 4.125% 2005-2011 (50 million USD)

— Debenture 4% 2005-2011 (100 million CAD)

— Debenture 5.75% 2005-2011(100 million AUD)

— Debenture 3.5% 2005-2009 (50 million USD)

— Debenture 2.125% 2005-2012 (300 million CHF)

— Debenture 3.25% 2005-2012 (300 million EUR)

The Group has reimbursed debenture loans during the first nine months of 2005:

— Debenture 5.75% 2000-2005 (500 million EUR)

— Debenture 5.375% 2000-2005 (250 million EUR)

— Debenture 3.25% 1999-2005 (200 million CHF)

— Debenture 3.25% 2000-2005 (100 million CHF)

— Debenture 3.78% 1999-2006 (20 million FRF)

— Debenture 6.875% 2000-2005 (150 million GBP)

— Debenture 8.2% 1995-2005 (500 million FRF)

In the context of its active cash management, the Group may increase temporarily its short-term borrowings, particularly in the form of commercial paper. The short-term borrowings and the cash and cash equivalents resulting from this cash management in the quarterly financial statements are not necessarily representative of a steady position.

10

TOTAL

Notes to consolidated statements for the first nine months of 2005

6. BUSINESS SEGMENT INFORMATION

	Amounts in millions of euros
9 months 2005	Upstream			Downstream			Chemicals			Corporate			Intercompany			Total
Non-Group sales		14,080			72,471			16,655			20						103,226
Intersegment sales		13,936			3,135			911			108			(18,090	)		—
Excise taxes					(15,503	)											(15,503	)
Revenues from sales		28,016			60,103			17,566			128			(18,090	)		87,723
Operating expenses		(12,184	)		(54,390	)		(15,861	)		(358	)		18,090			(64,703	)
Depreciation, depletion, and amortization of tangible assets		(2,411	)		(784	)		(557	)		(24	)					(3,776	)
Operating income		13,421			4,929			1,148			(254	)		—			19,244
Equity in income (loss) of affiliates and other items		393			294			(105	)		248						830
Tax on net operating income		(7,917	)		(1,641	)		(311	)		142						(9.727	)
Net operating income		5,897			3,582			732			136						10,347
Net cost of net debt																	(145	)
Minority interests and dividends on subsidiaries’ redeemable preferred shares																	(270	)
Net income																	9,932

9 months 2005
(adjustments) (*)	Upstream		Downstream			Chemicals			Corporate			Intercompany	Total
Non-Group sales
Intersegment sales
Excise taxes
Revenues from sales
Operating expenses		—		2,113			57			—				2,170
Depreciation, depletion, and amortization of tangible assets		—		—			(11	)		—				(11	)
Operating income (1)		—		2,113			46			—				2,159
Equity in income (loss) of affiliates and other items (2)		—		48			(139	)		(414	)			(505	)
Tax on net operating income		—		(696	)		32			—				(664	)
Net operating income (1)		—		1,465			(61	)		(414	)			990
Net cost of net debt														—
Minority interests and dividends on subsidiaries’ redeemable preferred shares														(9	)
Net income														981
(*) Adjustments include special items, inventory valuation effect and equity share of amortization of intangible assets related to the Sanofi-Aventis merger
(1) Of which inventory valuation effect
On operating income		—		2,113			66			—
On net operating income		—		1,465			48			—
(2) Of which equity share of amortization of intangible assets related to the Sanofi-Aventis merger		—		—			—			(249	)

9 months 2005
(adjusted)	Upstream			Downstream			Chemicals			Corporate			Intercompany			Total
Non-Group sales		14,080			72,471			16,655			20						103,226
Intersegment sales		13,936			3,135			911			108			(18,090	)		—
Excise taxes					(15,503	)											(15,503	)
Revenues from sales		28,016			60,103			17,566			128			(18,090	)		87,723
Operating expenses		(12,184	)		(56,503	)		(15,918	)		(358	)		18,090			(66,873	)
Depreciation, depletion, and amortization of tangible assets		(2,411	)		(784	)		(546	)		(24	)					(3,765	)
Operating income		13,421			2,816			1,102			(254	)					17,085
Equity in income (loss) of affiliates and other items		393			246			34			662						1,335
Tax on net operating income		(7,917	)		945	)		(343	)		142						(9,063	)
Net operating income		5,897			2,117			793			550						9,357
Net cost of net debt																	(145	)
Minority interests and dividends on subsidiaries’ redeemable preferred shares																	(261	)
Net income																	8,951

9 months 2005	Upstream		Downstream		Chemicals		Corporate		Intercompany	Total
Total expenditures		5,590		1,069		678		59			7,396
Divestitures at selling price		551		124		30		133			838
Cash flow from operating activities (3)		7,737		2,512		785		464			11,498

(3) In the Chemicals segment, this figure amounts to 850 millions of euros excluding an amount of 65 millions of euros paid relating to the Toulouse AZF plant explosion.

11

TOTAL

Notes to consolidated statements for the first nine months of 2005

	Amounts in millions of euros
9 months 2004	Upstream			Downstream			Chemicals			Corporate			Intercompany			Total
Non-Group sales		10,853			62,725			14,797			25						88,400
Intersegment sales		10,416			2,034			511			128			(13,089	)		—
Excise taxes					(17,559	)											(17,559	)
Revenues from sales		21,269			47,200			15,308			153			(13,089	)		70,841
Operating expenses		(9,409	)		(43,499	)		(13,825	)		(380	)		13,089			(54,023	)
Depreciation, depletion, and amortization of tangible assets		(2,444	)		(744	)		(612	)		(26	)					(3,826	)
Operating income		9,416			2,958			871			(253	)					12,992
Equity in income (loss) of affiliates and other items		394			125			(211	)		502						810
Tax on net operating income		(5,356	)		(934	)		(204	)		95						(6,399	)
Net operating income		4,454			2,149			456			344						7,403
Net cost of net debt																	(72	)
Minority interests and dividends on subsidiaries’ redeemable preferred shares																	(194	)
Net income																	7,137

9 months 2004
(adjustments) (*)	Upstream		Downstream			Chemicals			Corporate		Intercompany	Total
Non-Group sales
Intersegment sales
Excise taxes
Revenues from sales
Operating expenses		—		936			202			—			1,138
Depreciation, depletion, and amortization of tangible assets		—		—			—			—			—
Operating income (1)		—		936			202			—			1,138
Equity in income (loss) affiliates and other items (2)		—		29			(220	)		—			(191	)
Tax on net operating income		—		(309	)		7			—			(302	)
Net operating income (1)		—		656			(11	)		—			645
Net cost of net debt													—
Minority interests and dividends on subsidiaries’ redeemable preferred shares													(4	)
Net Income													641
(*) Adjustments include special items, inventory valuation effect and equity share of amortization of intangible assets related to the Sanofi-Aventis merger
(1) Of which inventory valuation effect
On operating income		—		936			202			—
On net operating income		—		856			133			—
(2) Of which equity share of amortization of intangible assets related to the Sanofi-Aventis merger		—		—			—			—

9 months 2004
(adjusted)	Upstream			Downstream			Chemicals			Corporate			Intercompany			Total
Non-Group sales		10,853			62,725			14,797			25						88,400
Intersegment sales		10,416			2,034			511			128			(13,089	)		—
Excise taxes					(17,559	)											(17,559	)
Revenues from sales		21,269			47,200			15,308			153			(13,089	)		70,841
Operating expenses		(9,409	)		(44,434	)		(14,027	)		(380	)		13,089			(55,161	)
Depreciation, depletion, and amortization of tangible assets		(2,444	)		(744	)		(612	)		(26	)					(3,826	)
Operating income		9,416			2,022			669			(253	)					11,854
Equity in income (loss) of affiliates and other items		394			96			9			502						1,001
Tax on net operating income		(5,356	)		(625	)		(211	)		95						(8,097	)
Net operating income		4,454			1,493			467			344						6,758
Net cost of net debt																	(72	)
Minority interests and dividends on subsidiaries’ redeemable preferred shares																	(190	)
Net income																	6,496

9 months 2004	Upstream		Downstream		Chemicals		Corporate		Intercompany	Total
Total expenditures		3,933		951		645		46			5,575
Divestitures at selling price		315		127		68		28			538
Cash flow from operating activities (3)		7,248		3,009		262		321			10,840

(3) In the Chemicals segment, this figure amounts to 549 millions of euros excluding an amount of 287 millions of euros paid relating to the Toulouse AZF plant explosion.

12

TOTAL

Notes to consolidated statements for the first nine months of 2005

7. ADJUSTMENTS ITEMS

Adjustments items affecting the consolidated statement of income, as described in note 2, are the following:

ADJUSTMENTS TO OPERATING INCOME

(in millions of euros)		Upstream		Downstream		Chemicals			Corporate		Total
9 Months 2005	Inventory valuation effect		—		2,113		66			—		2,179
	Restructuring charges		—		—		—			—		—
	Asset impairment charges		—		—		(11	)		—		(11	)
	Other items		—		—		(9	)		—		(9	)
Total			—		2,113		46			—		2,159
9 Months 2004	Inventory valuation effect		—		936		202			—		1,138
	Restructuring charges		—		—		—			—		—
	Asset impairment charges		—		—		—			—		—
	Other items		—		—		—			—		—
Total			—		936		202			—		1,138

ADJUSTMENTS TO NET INCOME

(in millions of euros)		Upstream		Downstream		Chemicals			Corporate			Total
9 Months 2005	Inventory valuation effect		—		1,454		48			—			1,502
Total’s equity share of special items recorded by Sanofi-Aventis			—		—		—			(165	)		(165	)
	Adjustment related to the Sanofi-Aventis merger		—		—		—			(247	)		(247	)
	Restructuring charges		—		—		(90	)		—			(90	)
	Asset impairment charges		—		—		(8	)		—			(8	)
	Gains (losses) on sales of assets		—		—		—			—			—
	Additional Toulouse-AZF provision		—		—		—			—			—
	Other items		—		—		(11	)		—			(11	)
Total			—		1,454		(61	)		(412	)		981
9 Months 2004	Inventory valuation effect		—		653		133			—			786
	Restructuring charges		—		—		(43	)		—			(43	)
	Asset impairment charges		—		—		—			—			—
	Gains (losses) on sales of assets		—		—		—			—			—
	Additional Toulouse-AZF provision		—		—		(98	)		—			(98	)
	Other items		—		—		(4	)		—			(4	)
Total			—		653		(12	)		—			641

13

TOTAL

Notes to consolidated statements for the first nine months of 2005

8. OTHER RISKS AND CONTINGENT LIABILITIES

The Group has been informed by the government of Venezuela of a challenge to the Group’s computation of certain taxes and royalties. The Group believes that it is in compliance with the applicable tax and legal provisions. It has paid an increased royalty in regards to this matter, while retaining its right to undertake further action.

9. 2004 IFRS COMPARATIVE FIGURES

Following reclassification under IFRS of certain trading transactions (see 1 C — Sales and revenues from sales), comparative figures for 3^rd quarter 2004 and first nine months previously released by the Group have been modified as follows:

(In millions of euros)

Consolidated statement of income — 3rd quarter 2004	As modified			As previously released
Sales		32,296			31,978
Purchases, net of inventory variation		(14,689	)		(14,371	)
		17,607			17,607

Consolidated statement of income — first nine months 2004	As modified			As previously released
Sales		88,400			86,956
Purchases, net of inventory variation		(39,857	)		(38,413	)
		48,543			48,543

These reclassifications have no impact on net income or cash flows; they impact non-group sales and operating expenses of the Upstream segment in Business segment information.

14

EX-99.5

Exhibit 99.5

2, place de la Coupole
La Défense 6
92 400 Courbevoie France
Fax : 33 (1) 47 44 68 21

Catherine ENCK
Tel. 33 (1) 47 44 37 76

Patricia MARIE
Tel. 33 (1) 47 44 45 90

Paul FLOREN
Tel. : 33 (1) 47 44 45 91

Christine de CHAMPEAUX
Tel : 33 (1) 47 44 47 49

Bertille ARON
Tel. : 33 (1) 47 44 67 12

Mary DWYER
Tel.: 33 (1) 47 44 21 19

Isabelle CABROL
Tel. : 33 (1) 47 44 64 24

Charles-Edouard ANFRAY
Tel. : 33 (1) 47 44 65 55

Franklin BOITIER
Tel. : 33 (1) 47 44 59 81

Philippe GATEAU
Tel. : 33 (1) 47 44 47 05

TOTAL S.A.
Capital 6 214 875 300 euros
542 051 180 R.C.S. Nanterre

www.total.com

Total Makes Sixth Oil Discovery in Libya’s Block NC 186

Paris — November 7, 2005 — Total (24%) and partners Repsol YPF (operator), OMV and Saga have made a sixth oil discovery in Libya’s Block NC 186. Three of the discoveries have been developed or are under development.

Well J-1, drilled in the Murzuq Basin 800 kilometers south of Tripoli, reached a total depth of 1,500 meters and encountered a significant oil column in the Mamumiyat sandstone formation. J-1 is located 16 kilometers northeast of last month’s I-1 discovery.

The well tested at 4,650 barrels per day of 40°API oil.

In Libya, Total operates the offshore Al Jurf field and the Mabruk field in the Sirte Basin. The Group is also a partner in the consortium that operates the adjacent El Sharara fields, which produce around 200,000 barrels per day of light oil.

* * * * * *

Total is the fourth largest oil and gas company in the world with operations in more than 130 countries. Total’s activities cover the whole energy chain of the petroleum industry: exploration, oil and gas production, refining and marketing, trading and power generation. The Group is also a major player in chemicals. Total has more than 111,000 employees worldwide. More information can be found on the company’s website: www.total.com