e6vk

0000950123-11-023409.txt : 20110309 0000950123-11-023409.hdr.sgml : 20110309 20110309063805 ACCESSION NUMBER: 0000950123-11-023409 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 13 CONFORMED PERIOD OF REPORT: 20110308 FILED AS OF DATE: 20110309 DATE AS OF CHANGE: 20110309 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TOTAL SA CENTRAL INDEX KEY: 0000879764 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-10888 FILM NUMBER: 11673613 BUSINESS ADDRESS: STREET 1: 2 PLACE DE LA COUPOLE STREET 2: LA DEFENSE 92078 CITY: PARIS FRANCE STATE: I0 ZIP: 00000 BUSINESS PHONE: 2129693300 MAIL ADDRESS: STREET 1: 2 PLACE DE LA COUPOLE STREET 2: LA DEFENSE 92078 CITY: PARIS FRANCE STATE: I0 ZIP: 00000 FORMER COMPANY: FORMER CONFORMED NAME: TOTAL FINA ELF SA DATE OF NAME CHANGE: 20001010 FORMER COMPANY: FORMER CONFORMED NAME: TOTAL FINA SA DATE OF NAME CHANGE: 19990713 FORMER COMPANY: FORMER CONFORMED NAME: TOTAL DATE OF NAME CHANGE: 19960103 6-K 1 y03433e6vk.htm 6-K e6vk

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington D.C. 20549

FORM 6-K

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

For the months of: January 03, 2011 to March 07, 2011

Commission File Number: 1-10888

TOTAL S.A.

(Translation of registrant’s name into English)

2 place Jean Millier
La Défense 6
92400 Courbevoie
France
(Address of principal executive offices)

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

Form 20-F þ Form 40-F o

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):

Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):

Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.

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- .

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: March 08, 2011	By:	/s/ Jérôme Schmitt
		Name:	Jérôme SCHMITT
		Title:	Treasurer

TABLE OF CONTENTS

SIGNATURES
EXHIBIT INDEX

EXHIBIT INDEX


Ø	EXHIBIT 99.1	France: Appointments (January 12, 2011)

Ø	EXHIBIT 99.2	Australia: Total and partners launch the development of the GLNG project (January 13, 2011)

Ø	EXHIBIT 99.3:	Argentina: Total acquires interests in several licenses in Argentina to appraise their shale gas potential (January 14, 2011)

Ø	EXHIBIT 99.4:	Republic of the Congo: New Discoveries in the Moho-Bilondo License in the Republic of the Congo (January 25, 2011)

Ø	EXHIBIT 99.5:	France: Notice of Appointments (February 3, 2011)

Ø	EXHIBIT 99.6:	France: Minutes of the Board of Directors’ Meeting Held on February 10, 2011 (February 11,2011)

Ø	EXHIBIT 99.7:	France: Fourth quarter and full year 2010 results (February 11, 2011)

Ø	EXHIBIT 99.8:	Bolivia: Production start-up of the Itaú field (February 15, 2011)

Ø	EXHIBIT 99.9:	Spain: Total Agrees to Sell its 48.83% Stake of Spanish Company CEPSA to IPIC and Initiates a Co-Operation with IPIC in Oil and Gas (February 16, 2011)

Ø	EXHIBIT 99.10:	Russia: Total enters into a strategic partnership with the independent gas company Novatek (March 2, 2011)

EX-99.1 2 y03433exv99w1.htm EX-99.1:FRANCE: APPOINTMENTS (JANUARY 12, 2011) exv99w1

Exhibit 99.1

Paris, January 12, 2011

TOTAL
2, place Jean Millier
La Défense 6
92 400 Courbevoie France
Fax : + 33 (0) 1 47 44 68 21

Isabelle DESMET
Tel.: + 33 (0) 1 47 44 37 76

Sonia CERQUEIRA
Tel.: +33 (0) 1 47 44 47 05

Michaël CROCHET-VOUREY
Tel.: + 33 (0) 1 47 44 81 33

Sandra DANTE
Tel.: + 33 (0) 1 47 44 46 07

Hortense OURY
Tel.: + 33 (0) 1 47 44 23 34

Ava PEREZ
Tel.: + 33 (0) 1 47 44 64 65

Florent SEGURA
Tel.: + 33 (0) 1 47 44 31 38

Phénélope SEMAVOINE
Tel.: + 33 (0) 1 47 44 76 29

Frédéric TEXIER
Tel.: + 33 (0) 1 47 44 38 16

TOTAL S.A.
Capital 5,871,057,210 euros
542 051 180 R.C.S. Nanterre

www.total.com

Appointments

Total today announced the following appointments to its Management Committee, effective January 1, 2011:

-		Arnaud Breuillac, Senior Vice President, Middle East, Total Exploration & Production.

-		Michel Hourcard, Senior Vice President, Development and Operations Techniques, Total Exploration & Production and Senior Vice President for the Scientific and Technical Center in Pau.

-		Jacques Maigné, Chairman and Chief Executive Officer of Hutchinson, Total Chemicals.

-		Bernard Pinatel, Chairman and Chief Executive Officer of Bostik, Total Chemicals.

Arnaud Breuillac is a graduate of the Ecole Centrale de Lyon engineering school. He joined Total in 1982.

He held various positions in Exploration & Production in France, Abu Dhabi, the United Kingdom, Indonesia and Angola and in Refining in France.

In August 2004, he was appointed Vice President, Middle East Iran. He held this position until December 2006, when he became Senior Vice President, Continental Europe and Central Asia in Exploration & Production.

On July 1, 2010, Mr. Breuillac was appointed Senior Vice President, Middle East in Exploration & Production.

TOTAL
2, place Jean Millier
La Défense 6
92 400 Courbevoie France
Fax : + 33 (0) 1 47 44 68 21

Isabelle DESMET
Tel.: + 33 (0) 1 47 44 37 76

Sonia CERQUEIRA
Tel.: +33 (0) 1 47 44 47 05

Michaël CROCHET-VOUREY
Tel.: + 33 (0) 1 47 44 81 33

Sandra DANTE
Tel.: + 33 (0) 1 47 44 46 07

Hortense OURY
Tel.: + 33 (0) 1 47 44 23 34

Ava PEREZ
Tel.: + 33 (0) 1 47 44 64 65

Florent SEGURA
Tel.: + 33 (0) 1 47 44 31 38

Phénélope SEMAVOINE
Tel.: + 33 (0) 1 47 44 76 29

Frédéric TEXIER
Tel.: + 33 (0) 1 47 44 38 16

TOTAL S.A.
Capital 5,871,057,210 euros
542 051 180 R.C.S. Nanterre

www.total.com

Michel Hourcard is a graduate of the Ecole Centrale de Paris engineering school. He began his career in the Scientific Department at the French Atomic Energy Commission (CEA) in 1980, before joining Total in 1982.

He held various drilling operations positions in Exploration & Production, including in Egypt and the North Sea, and in 1991 was appointed Manager of the Drilling Laboratory. He held this position until 1994, when he moved to the Finance Department as head of Chemicals Subsidiary Operations and subsequently Vice President, Investor Relations from 1995.

From 2000 to 2001, he was Vice President, Iran in TotalFinaElf’s Exploration & Production Division.

In December 2001, Mr. Hourcard was appointed Vice President, Corporate Communications. In January 2005, he was named Vice President UAE and Qatar in Exploration & Production’s Middle East Division.

On April 1, 2009, Mr. Hourcard was appointed Senior Vice President, Development and Operations Techniques, and Senior Vice President for the Scientific and Technical Center in Pau.

Jacques Maigné is a graduate of the Ecole Centrale de Lyon engineering school. He joined Paulstra, a Hutchinson subsidiary in 1989 as Vice President, Sales and Marketing for anti-vibration solutions for industry, in 1989.

In 1991, he moved on to head the Industrial Fluid Transfer team, whose portfolio of products is essentially intended for the defense and road transportation markets. In 1994, he was named Senior Vice President, Aerospace Anti-Vibration Solutions France.

From 2001 to 2009, Mr. Maigné served as Corporate Vice President, Aerospace and Industry at Hutchinson, which supplies aerospace equipment under the Hutchinson Aerospace brand.

In April 2009, Mr. Maigné was appointed Chairman and Chief Executive Officer of Hutchinson.

TOTAL
2, place Jean Millier
La Défense 6
92 400 Courbevoie France
Fax : + 33 (0) 1 47 44 68 21

Isabelle DESMET
Tel.: + 33 (0) 1 47 44 37 76

Sonia CERQUEIRA
Tel.: +33 (0) 1 47 44 47 05

Michaël CROCHET-VOUREY
Tel.: + 33 (0) 1 47 44 81 33

Sandra DANTE
Tel.: + 33 (0) 1 47 44 46 07

Hortense OURY
Tel.: + 33 (0) 1 47 44 23 34

Ava PEREZ
Tel.: + 33 (0) 1 47 44 64 65

Florent SEGURA
Tel.: + 33 (0) 1 47 44 31 38

Phénélope SEMAVOINE
Tel.: + 33 (0) 1 47 44 76 29

Frédéric TEXIER
Tel.: + 33 (0) 1 47 44 38 16

TOTAL S.A.
Capital 5,871,057,210 euros
542 051 180 R.C.S. Nanterre

www.total.com

Bernard Pinatel is a graduate of the Ecole Polytechnique engineering school, the Paris Graduate School of Economics, Statistics and Finance (ENSAE) and Institut d’Etudes Politiques (Sciences Po). He also holds an MBA from INSEAD Graduate Business School. He began his career at Booz Allen Hamilton as a strategy consultant.

Mr. Pinatel joined Hutchinson in 1991 as an analyst in the Strategy Department, subsequently becoming Vice President, Production in Germany.

After three years as Plant Manager at Synthron, he rejoined Total as Vice President, Marketing Europe of Coates Lorilleux in 1999.

He was appointed CEO of Bostik France in 2000 and of Bostik Europe in 2003.

From July 2006 to December 2009, he was President of Total Resins, which encompasses Cray Valley, Cook Composites & Polymers and Sartomer.

In January 2010, Mr. Pinatel was appointed CEO of Bostik.

* * * * *

Total is one of the world’s major oil and gas groups, with activities in more than 130 countries. Its 96,000 employees put their expertise to work in every part of the industry — exploration and production of oil and natural gas, refining and marketing, gas & power and trading. Total is working to keep the world supplied with energy, both today and tomorrow. The Group is also a first rank player in chemicals. www.total.com

Hutchinson is a chemicals subsidiary of Total specialized in sealing systems, fluid transfer systems, vibration, acoustic and thermal insulation, and transmission and mobility systems. Its operations primarily concern the air, sea and land transportation sector. Industry is also one of its areas of expertise. Hutchinson is present in 22 countries, operates 90 sites and employs almost 25,000 people.

Bostik is a chemicals subsidiary of Total specialized in adhesives. It designs, manufactures and supplies adhesives and sealants for consumers, builders and industries. 5,000 employees at 50 production plants in nearly 40 countries worldwide serve three major markets daily — Industry, Building and Construction, and Consumer Products.

EX-99.2 3 y03433exv99w2.htm EX-99.2:AUSTRALIA: TOTAL AND PARTNERS LAUCH THE DEVELOPMENT OF THE GLNG PROJECT exv99w2

Exhibit 99.2

TOTAL
2, place Jean Millier
La Défense 6
92 400 Courbevoie France
Fax : + 33 (0) 1 47 44 68 21

Isabelle DESMET
Tel.: + 33 (0) 1 47 44 37 76

Sonia CERQUEIRA
Tel.: +33 (0) 1 47 44 47 05

Michaël CROCHET-VOUREY
Tel.: + 33 (0) 1 47 44 81 33

Sandra DANTE
Tel.: + 33 (0) 1 47 44 46 07

Hortense OURY
Tel.: + 33 (0) 1 47 44 23 34

Ava PEREZ
Tel.: + 33 (0) 1 47 44 64 65

Florent SEGURA
Tel.: + 33 (0) 1 47 44 31 38

Phénélope SEMAVOINE
Tel.: + 33 (0) 1 47 44 76 29

Frédéric TEXIER
Tel.: + 33 (0) 1 47 44 38 16

TOTAL S.A.
Capital 5,871,057,210 euros
542 051 180 R.C.S. Nanterre

www.total.com

Australia: Total and partners launch the development of the GLNG project

Paris, January 13, 2011 — Total and its partners Santos (operator), Petronas and Kogas announce the sanction of the GLNG project in Australia, representing a 16 billion dollars investment. The GLNG project consists of the development of coal seam gas fields, the construction of a 420 kilometres gas transmission pipeline and of a liquefaction plant of 7.2 million tons per year (Mt/y). First Liquefied Natural Gas (LNG) will be delivered in 2015 and plateau production of the LNG plant is expected to be reached in 2016 for more than 20 years.

The signature of binding LNG off-take contracts with Petronas and in December 2010 with Kogas, secures an annual off-take of 7 million tons of LNG.

“Total is delighted to work alongside Santos in this project, an operator that has demonstrated its expertise in producing coal seam gas since 2002, and to bring its know-how in managing large LNG projects. The involvement of Petronas and Kogas, main buyers of the produced LNG, also strengthens the project” declared Yves-Louis Darricarrère, President of Exploration & Production, Total. “Total considers this integrated LNG project as a good application of its strategy to remain a leading LNG player and to strengthen its portfolio of unconventional gas. Through this project, Total increases its presence in Australia and its access to the Asian LNG market, the fastest growing market offering high value prices linked to oil.”

The GLNG project

The integrated LNG project consists of extracting coal seam gas from the Fairview, Arcadia, Roma and Scotia fields, located in the Bowen and Surat Basin in Queensland, eastern Australia. The fields’ resources are estimated at over 250 billion cubic metres (Gm3) (9 trillion cubic feet) of gas. The Fairview field already produces 3.1 million cubic metres (Mm3) (110 million cubic feet) a day for the local market. The partners of the GLNG project will develop their share of these fields to reach a production plateau of 9 Gm3 per year, ie 900 million cubic feet per day (41,000 barrels of oil equivalent per day in Total’s share).

Last September, Total acquired a 20% interest, increased to 27.5% in December when Kogas joined the project. Partners on the project are now Santos operator with 30%; Petronas, 27.5%; Total, 27.5%; and Kogas, 15%.

Total’s commitment to Queensland

GLNG construction activity will commence immediately with 1,500 jobs to be created in the first half of 2011. GLNG will create 5,000 jobs during construction phase and 1,000 permanent jobs during production phase.

TOTAL
2, place Jean Millier
La Défense 6
92 400 Courbevoie France
Fax : + 33 (0) 1 47 44 68 21

Isabelle DESMET
Tel.: + 33 (0) 1 47 44 37 76

Sonia CERQUEIRA
Tel.: +33 (0) 1 47 44 47 05

Michaël CROCHET-VOUREY
Tel.: + 33 (0) 1 47 44 81 33

Sandra DANTE
Tel.: + 33 (0) 1 47 44 46 07

Hortense OURY
Tel.: + 33 (0) 1 47 44 23 34

Ava PEREZ
Tel.: + 33 (0) 1 47 44 64 65

Florent SEGURA
Tel.: + 33 (0) 1 47 44 31 38

Phénélope SEMAVOINE
Tel.: + 33 (0) 1 47 44 76 29

Frédéric TEXIER
Tel.: + 33 (0) 1 47 44 38 16

TOTAL S.A.
Capital 5,871,057,210 euros
542 051 180 R.C.S. Nanterre

www.total.com

In Australia, as in all countries where Total is present, safety and environmental protection are core concerns for the Group. Ensuring the safety of the people working on its projects is a priority for Total, which also strives to reduce its environmental footprint as part of its commitment to sustainable development. The GLNG project partners are well aware that water management will be a main area of focus. As such, a strategy for water management has been planned, such as an extensive monitoring and a group of dedicated experts who will work closely with the Australian authorities and local farmers.

Total fully supports Santos as operator of the licenses in the Bowen and Surat Basin in its efforts to help the affected populations in light of the recent climatic events that have impacted Queensland.

Total Exploration and Production in Australia

Total E&P has been present in Australia since 2005 and has interests in ten offshore licenses — four of which it operates — in the Browse, Vulcan and Bonaparte Basins in the northwest shelf.

In the Browse Basin, Total has a 24% interest alongside Inpex in the Ichthys LNG project. Preparations are advancing for the development. Front-end engineering and design (FEED) began in 2009 and the first tenders have been launched in 2010. The project will produce 8.4 Mt/y of LNG, around 1.6 Mt/y of liquefied petroleum gas, and around 100,000 barrels of condensate per day. The final investment decision is expected to be taken by the end of 2011, and the field should be brought on stream by the end of 2016.

Total and LNG

Total is a leading producer in the LNG sector, with strong and diversified positions along the LNG chain. Total is active in most of the major LNG producing regions as well as main LNG markets and continues to develop LNG as a key component of its development strategy.

The Group produces LNG in Indonesia, Qatar, the United Arab Emirates, Oman, Nigeria, Norway and Yemen. The start up of Yemen LNG and Qatargas 2 Train 5 has increased Total’s LNG production by around 40% in 2010. Angola LNG, which is currently under construction, will complement this portfolio in 2012.

The Group also secured long-term access to LNG re-gasification capacity located in key LNG markets: North America (Sabine Pass in the United States and Altamira in Mexico), Europe (Fos Cavaou in France and South Hook Terminal in the United Kingdom) and Asia (Hazira in India).

*******

Total is one of the world’s major oil and gas groups, with activities in more than 130 countries. Its 96,000 employees put their expertise to work in every part of the industry — exploration and production of oil and natural gas, refining and marketing, gas & power and trading. Total is working to keep the world supplied with energy, both today and tomorrow. The Group is also a first rank player in chemicals. www.total.com

*******

TOTAL
2, place Jean Millier
La Défense 6
92 400 Courbevoie France
Fax : + 33 (0) 1 47 44 68 21

Isabelle DESMET
Tel.: + 33 (0) 1 47 44 37 76

Sonia CERQUEIRA
Tel.: +33 (0) 1 47 44 47 05

Michaël CROCHET-VOUREY
Tel.: + 33 (0) 1 47 44 81 33

Sandra DANTE
Tel.: + 33 (0) 1 47 44 46 07

Hortense OURY
Tel.: + 33 (0) 1 47 44 23 34

Ava PEREZ
Tel.: + 33 (0) 1 47 44 64 65

Florent SEGURA
Tel.: + 33 (0) 1 47 44 31 38

Phénélope SEMAVOINE
Tel.: + 33 (0) 1 47 44 76 29

Frédéric TEXIER
Tel.: + 33 (0) 1 47 44 38 16

TOTAL S.A.
Capital 5,871,057,210 euros
542 051 180 R.C.S. Nanterre

www.total.com

Cautionary Note to U.S. Investors — The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to separately disclose proved, probable and possible reserves that a company has determined in accordance with the SEC rules. We may use certain terms in this press release, such as resources, that the SEC’s guidelines strictly prohibit us from including in filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 20-F, File No. 1-10888 available from us at 2, place Jean Millier — La Défense 6 — 92078 Paris La Défense Cedex, France or at our Web site: www.total.com. You can also obtain this form from the SEC by calling 1-800-SEC-0330 or on the SEC’s Web site: www.sec.gov.

EX-99.3 4 y03433exv99w3.htm EX-99.3:TOTAL ACQUIRES INTERESTS IN SEVERAL LICENSES exv99w3

Exhibit 99.3

TOTAL
2, place Jean Millier
La Défense 6
92 400 Courbevoie France
Fax : + 33 (0) 1 47 44 68 21

Isabelle DESMET
Tel.: + 33 (0) 1 47 44 37 76

Sonia CERQUEIRA
Tel.: +33 (0) 1 47 44 47 05

Michaël CROCHET-VOUREY
Tel.: + 33 (0) 1 47 44 81 33

Sandra DANTE
Tel.: + 33 (0) 1 47 44 46 07

Hortense OURY
Tel.: + 33 (0) 1 47 44 23 34

Ava PEREZ
Tel.: + 33 (0) 1 47 44 64 65

Florent SEGURA
Tel.: + 33 (0) 1 47 44 31 38

Phénélope SEMAVOINE
Tel.: + 33 (0) 1 47 44 76 29

Frédéric TEXIER
Tel.: + 33 (0) 1 47 44 38 16

TOTAL S.A.
Capital 5 874 102 327,50 euros
542 051 180 R.C.S. Nanterre

www.total.com

Total acquires interests in several licenses in Argentina
to appraise their shale gas potential

Paris, January 14, 2011 — Total announces that it has acquired interests in four exploration licenses in Argentina in partnership with YPF in order to appraise their shale gas potential. Located in the Neuquén Basin, the licenses were awarded by the provincial authorities for a six-year period. The four new blocks are the latest addition to the Group’s portfolio of assets in Argentina, which includes significant holdings in shale gas play.

More specifically, Total has acquired:

- A 42.5% interest in both the Aguada de Castro and Pampa las Yeguas II licenses, which Total will operate.

- A 40% interest in the Cerro Las Minas license and a 45% interest in the Cerro Partido license which will be operated by YPF.

Commenting on the transactions, Yves-Louis Darricarrère, President of Total Exploration & Production, said: “These new interests in acreage that is potentially rich in shale gas further strengthen Total’s presence in unconventional gas, a domain in which Total has the ambition to grow significantly.”

The latest transactions follow on from the acquisition of 85% stakes in the La Escalonada and Rincón La Ceniza blocks in the same shale gas play in early 2010. As operator, Total is currently conducting geological, seismic and petrophysical studies in these blocks.

In 2010, the Group carried out similar studies on two other long-held blocks that it operates: Aguada Pichana (27.3%) and San Roque (24.7%).

Total is planning to drill exploration wells in 2011 to evaluate the play’s potential.

The entire shale gas zone held by Total represents a combined area of 1,548 square kilometres (approximately 380,000 acres) in Total’s net share.

Total Exploration & Production in Argentina

Present in Argentina since 1978, Total, through its subsidiary Total Austral, operates 28% of the country’s gas production. The Group’s equity share of production averaged 82,700 barrels of oil equivalent per day in 2010.

Its main assets in the Neuquén Basin are Aguada Pichana and San Roque, which account for around 56% of the Group’s operated production in Argentina. Its other main production hub is Tierra del Fuego, where Total operates the onshore Ara and Cañadon Alfa fields and the offshore Hidra, Kaus, Argo, Carina and Aries fields, which together account for 44% of Total’s operated production.

*******

EX-99.4 5 y03433exv99w4.htm EX-99.4:NEW DISCOVERIES IN THE MOHO-BILONDO LICENSE IN THE REPUBLIC OF THE CONGO exv99w4

Exhibit 99.4

TOTAL
2, place Jean Millier
La Défense 6
92 400 Courbevoie France
Fax : + 33 (0) 1 47 44 68 21

Isabelle DESMET
Tel.: + 33 (0) 1 47 44 37 76

Sonia CERQUEIRA
Tel.: +33 (0) 1 47 44 47 05

Michaël CROCHET-VOUREY
Tel.: + 33 (0) 1 47 44 81 33

Sandra DANTE
Tel.: + 33 (0) 1 47 44 46 07

Hortense OURY
Tel.: + 33 (0) 1 47 44 23 34

Ava PEREZ
Tel.: + 33 (0) 1 47 44 64 65

Florent SEGURA
Tel.: + 33 (0) 1 47 44 31 38

Phénélope SEMAVOINE
Tel.: + 33 (0) 1 47 44 76 29

Frédéric TEXIER
Tel.: + 33 (0) 1 47 44 38 16

TOTAL S.A.
Capital 5 874 102 327,50 euros
542 051 180 R.C.S. Nanterre

www.total.com

New Discoveries in the Moho-Bilondo License in the Republic of the Congo

Paris, January 25, 2011 — Total announces discoveries from the Bilondo Marine 2 and 3 wells (BILDM-2 and BILDM-3), drilled in a water depth of 800 metres in the central area of the Moho-Bilondo license, approximately 70 kilometres offshore the Republic of the Congo. They follow the successful exploration wells Moho Nord Marine 1 and 2 drilled in 2007.

Bilondo Marine 2 and 3 were drilled to a total depth of around 1,800 metres in the Tertiary series and flowed successfully. The Bilondo Marine 2 and 3 wells encountered a gross reservoir of 77 and 44 metres respectively. Neither well encountered water.

The latest discoveries confirm Total’s confidence that an additional development hub is emerging as a direct extension of phase 1 which is already producing in the southern part of the Moho-Bilondo license. This first phase, brought on stream in 2008, was the first ultra-deepwater field to be developed in the Republic of the Congo. The field is currently producing 90,000 barrels per day from 13 subsea wells tied into a floating production unit (FPU). The oil is exported to the onshore Djeno terminal.

Total E&P Congo is the operator with a 53.5% interest in the license, alongside Chevron Overseas Congo Ltd. (31.5%) and Société Nationale des Pétroles du Congo (15%).

Total Exploration & Production in the Republic of the Congo

Present in the Republic of the Congo since 1968, Total is the country’s leading oil producer. Total E&P Congo operates nine of the 21 fields developed, accounting for nearly 60% of national output. The Group’s net equity production averaged 106,000 barrels of oil equivalent per day in 2009.

Total Exploration & Production’s main assets in the Republic of Congo are:

	•		The Moho Bilondo license (Total 53.5%, operator).

	•		Nkossa (Total 53.5%, operator) in which work began in 2005 has maintained the field’s production level at 50,000 barrels per day.

	•		The Libondo project (Total 65%, operator), a satellite of Yanga, where development has been under way since October 2008, and which field will be brought on stream in January 2011. The Pointe-Noire construction yard was awarded some of the contracts to build the offshore installations, leading to the creation of around 1,000 direct and indirect local jobs.

	•		The Mer Très Profonde Sud (MTPS) license (Total 40%, operator), in which Total is continuing to explore.

	•		The Joint Development Zone between Congo and Angola (Total 37%) — on which the partners have decided to begin front end engineering and design for the Lianzi project.

TOTAL
2, place Jean Millier
La Défense 6
92 400 Courbevoie France
Fax : + 33 (0) 1 47 44 68 21

Isabelle DESMET
Tel.: + 33 (0) 1 47 44 37 76

Sonia CERQUEIRA
Tel.: +33 (0) 1 47 44 47 05

Michaël CROCHET-VOUREY
Tel.: + 33 (0) 1 47 44 81 33

Sandra DANTE
Tel.: + 33 (0) 1 47 44 46 07

Hortense OURY
Tel.: + 33 (0) 1 47 44 23 34

Ava PEREZ
Tel.: + 33 (0) 1 47 44 64 65

Florent SEGURA
Tel.: + 33 (0) 1 47 44 31 38

Phénélope SEMAVOINE
Tel.: + 33 (0) 1 47 44 76 29

Frédéric TEXIER
Tel.: + 33 (0) 1 47 44 38 16

TOTAL S.A.
Capital 5 874 102 327,50 euros
542 051 180 R.C.S. Nanterre

www.total.com

In the Republic of the Congo, as in all countries where it operates, Total fully recognizes its responsibilities to local communities and in the area of environmental protection. The Group is supporting long-term projects in the country focused on education, health, local economic development and the environment.

*******

EX-99.5 6 y03433exv99w5.htm EX-99.5:NOTICE OF APPOINTMENTS exv99w5

Exhibit 99.5

TOTAL
2, place Jean Millier
La Défense 6
92 400 Courbevoie France
Fax : + 33 (0) 1 47 44 68 21

Isabelle DESMET
Tel.: + 33 (0) 1 47 44 37 76

Sonia CERQUEIRA
Tel.: +33 (0) 1 47 44 47 05

Michaël CROCHET-VOUREY
Tel.: + 33 (0) 1 47 44 81 33

Sandra DANTE
Tel.: + 33 (0) 1 47 44 46 07

Hortense OURY
Tel.: + 33 (0) 1 47 44 23 34

Ava PEREZ
Tel.: + 33 (0) 1 47 44 64 65

Florent SEGURA
Tel.: + 33 (0) 1 47 44 31 38

Phénélope SEMAVOINE
Tel.: + 33 (0) 1 47 44 76 29

Frédéric TEXIER
Tel.: + 33 (0) 1 47 44 38 16

TOTAL S.A.
Capital 5 874 102 327,50 euros
542 051 180 R.C.S. Nanterre

www.total.com

Notice of Appointments

Paris, February 3, 2011 — Total has announced the following appointments, effective March 1:

- Patrick Pouyanné, Senior Vice President, Strategy, Business Development and R&D in Exploration & Production, is appointed Deputy General Manager of the Chemicals Division and Deputy General Manager Petrochemicals.

- Olivier Cleret de Langavant, Senior Vice President, Finance, Economics & Information Systems in Exploration & Production, is appointed Senior Vice President, Strategy, Business Development and R&D in Exploration & Production.

- Isabelle Gaildraud, Senior Vice President, Human Resources & Internal Communication in Exploration & Production, is appointed Senior Vice President, Finance & Information Systems, in addition to her current role.

- Michel Hourcard, Senior Vice President, Development & Operations in Exploration & Production and Senior Vice President Delegate for the Scientific and Technical Center in Pau, is appointed Senior Vice President Development in Exploration & Production.

- Marc Blaizot, Senior Vice President Geosciences is appointed Senior Vice President Exploration.

- Pierre Bang, Managing Director, Total E&P Cameroun, is appointed Senior Vice President, Operations in Exploration & Production and Senior Vice President Delegate for the Scientific and Technical Center in Pau.

Patrick Pouyanné, 47, is a graduate of the Ecole Polytechnique and the Ecole des Mines engineering schools in Paris, France.

From 1989 to 1997, he held various positions at the French Ministry of Industry and in cabinets of the ministry. He joined Total in 1997 as Chief Administrative Officer of Total E&P Angola. He was appointed Chief Executive Officer of Total E&P Qatar in 1999. In 2002, he was named Senior Vice President, Finance, Economics and Information Systems. He became Senior Vice President, Strategy, Business Development and R&D in Exploration & Production in 2006.

Patrick Pouyanné is also a member of Total’s Management Committee (CODIR).

TOTAL
2, place Jean Millier
La Défense 6
92 400 Courbevoie France
Fax : + 33 (0) 1 47 44 68 21

Isabelle DESMET
Tel.: + 33 (0) 1 47 44 37 76

Sonia CERQUEIRA
Tel.: +33 (0) 1 47 44 47 05

Michaël CROCHET-VOUREY
Tel.: + 33 (0) 1 47 44 81 33

Sandra DANTE
Tel.: + 33 (0) 1 47 44 46 07

Hortense OURY
Tel.: + 33 (0) 1 47 44 23 34

Ava PEREZ
Tel.: + 33 (0) 1 47 44 64 65

Florent SEGURA
Tel.: + 33 (0) 1 47 44 31 38

Phénélope SEMAVOINE
Tel.: + 33 (0) 1 47 44 76 29

Frédéric TEXIER
Tel.: + 33 (0) 1 47 44 38 16

TOTAL S.A.
Capital 5 874 102 327,50 euros
542 051 180 R.C.S. Nanterre

www.total.com

Olivier Cleret de Langavant, 53, is a graduate of the Ecole des Mines engineering school in Paris, France.

He began his career in 1978 at CEREN (Center for Economic Studies and Research on Energy) before joining the Group in 1981, occupying several positions as a reservoir engineer in France, the Congo, the United States and Colombia. He was then appointed Senior Vice President, Operations in the Netherlands. He was Assistant Managing Director of Total E&P Angola from 1998 to 2002 during the early development phase of the deepwater Girassol field. He was subsequently appointed Managing Director of Total E&P Myanmar. In 2005, Mr. de Langavant was appointed Managing Director of Total E&P Angola, a position he held until 2009, when he became Senior Vice President, Finance, Economics & Information Systems in Exploration & Production.

Isabelle Gaildraud, 49, is a graduate of the Ecole Nationale Supérieure des Pétroles & Moteurs (ENSPM) engineering school and has a doctorate in economics.

She joined Total in 1986 in the Economic Studies Department and, in 1989, became responsible for the Corporate Finance Department for Total’s subsidiaries in the North Sea and Middle East, and was Assistant Manager of the Corporate Budget Division. In 1997, she was appointed Senior Vice President, Media Relations and in 2000, Senior Vice President Recruitment. She moved to the position of Senior Vice President, Corporate Mobility & Expatriation in 2003. In 2006, she was appointed Senior Vice President, Career Management & Training in Exploration & Production before being named Senior Vice President, Human Resources & Internal Communication in Exploration & Production in 2008.

Michel Hourcard, 53, is a graduate of the Ecole Centrale engineering school in Paris, France. He began his career in the Scientific Department at the French Atomic Energy Commission (CEA) in 1980, before joining Total in 1982. He held various positions in Exploration & Production, notably in drilling operations in Egypt and the North Sea, and in 1991 was appointed Manager of the Drilling Laboratory.

He held this position until 1994 when he moved to the Finance Department as head of the Chemicals subsidiary and subsequently became Senior Vice President, Investor Relations in 1995. From 2000 to 2001, he was Senior Vice President, Iran in TotalFinaElf’s Exploration & Production. In December 2001, Mr. Hourcard was appointed Senior Vice President, Corporate Communication.

In January 2005, he was named Senior Vice President UAE and Qatar in Exploration & Production’s Middle East Division, a position he held until March 2009.

He was appointed Senior Vice President, Development and Operation Techniques and Senior Vice President Delegate for the Scientific and Technical Center in Pau in 2009. Michel Hourcard is also a member of Total’s Management Committee (CODIR).

TOTAL
2, place Jean Millier
La Défense 6
92 400 Courbevoie France
Fax : + 33 (0) 1 47 44 68 21

Isabelle DESMET
Tel.: + 33 (0) 1 47 44 37 76

Sonia CERQUEIRA
Tel.: +33 (0) 1 47 44 47 05

Michaël CROCHET-VOUREY
Tel.: + 33 (0) 1 47 44 81 33

Sandra DANTE
Tel.: + 33 (0) 1 47 44 46 07

Hortense OURY
Tel.: + 33 (0) 1 47 44 23 34

Ava PEREZ
Tel.: + 33 (0) 1 47 44 64 65

Florent SEGURA
Tel.: + 33 (0) 1 47 44 31 38

Phénélope SEMAVOINE
Tel.: + 33 (0) 1 47 44 76 29

Frédéric TEXIER
Tel.: + 33 (0) 1 47 44 38 16

TOTAL S.A.
Capital 5 874 102 327,50 euros
542 051 180 R.C.S. Nanterre

www.total.com

Marc Blaizot, 57, is a graduate of the École Nationale de Géologie in Nancy, France. He joined the Group in 1979 as an operations geologist, specializing in assessing basins, identifying prospects and appraising discoveries in Europe (Italy, Norway, United Kingdom and Netherlands) from 1982 to 1990 and in Syria from 1990 to 1992. Appointed Senior Vice President, Exploration in Angola in 1992, he headed the team that discovered the giant deep offshore Girassol field. From 1996 to 2002, he conducted geoscience analyses for the Middle East (Syria, Iraq, Qatar and Oman). While head of the Exploration Portfolio Management Department from 2002 to 2005 and the New Projects Department from 2005 to 2008, he was responsible for selecting exploration acreage and fields worldwide for the Group’s portfolio. In 2008, he became Senior Vice President Geosciences in Exploration & Production. Marc Blaizot is also a member of the Total’s Management Committee (CODIR).

Pierre Bang, 50, is a graduate of the Ecole Supérieure d’Ingénieurs engineering school in Marseille, France.

He began his career with the Group in 1983, first as Assistant Director, then Director of the Surface Engineering Department in Cameroon. From 1992 to 1996, he held various positions as project Manager (Cameroon, United States and Congo) and as a petroleum architect (France). He joined the Girassol project in Angola, first as oil platform construction Engineer for the FPSO and as Deep Offshore Field Manager. In 2001, he was appointed North America Delegate and in 2004, Senior Vice President, Operations at Total E&P Nederland. He has been Managing Director of Total E&P Cameroun since 2006.

* * * * * *

Total is one of the world’s major oil and gas groups, with activities in more than 130 countries. Its 96,000 employees put their expertise to work in every part of the industry — exploration and production of oil and natural gas, refining and marketing, gas trading and electricity. Total is working to keep the world supplied with energy, both today and tomorrow. The Group is also a first rank player in chemicals. www.total.com

EX-99.6 7 y03433exv99w6.htm EX-99.6:MINUTES OF THE BOARD OF DIRECTORS' MEETING HELD ON FEBRUARY 10, 2011 exv99w6

Exhibit 99.6

TOTAL
2, place Jean Millier
La Défense 6
92 400 Courbevoie France
Fax : + 33 (0) 1 47 44 68 21

Isabelle DESMET
Tel.: + 33 (0) 1 47 44 37 76

Sonia CERQUEIRA
Tel.: +33 (0) 1 47 44 47 05

Michaël CROCHET-VOUREY
Tel.: + 33 (0) 1 47 44 81 33

Sandra DANTE
Tel.: + 33 (0) 1 47 44 46 07

Hortense OURY
Tel.: + 33 (0) 1 47 44 23 34

Ava PEREZ
Tel.: + 33 (0) 1 47 44 64 65

Florent SEGURA
Tel.: + 33 (0) 1 47 44 31 38

Phénélope SEMAVOINE
Tel.: + 33 (0) 1 47 44 76 29

Frédéric TEXIER
Tel.: + 33 (0) 1 47 44 38 16

TOTAL S.A.
Capital 5 874 102 327,50 euros
542 051 180 R.C.S. Nanterre

www.total.com

Minutes of the Board of Directors’ Meeting Held on February 10, 2011

Paris, February 10, 2011 — The Board of Directors of Total met on February 10, 2011, under the chairmanship of Christophe de Margerie, Chairman and CEO. It reviewed the Group’s accounts for the fourth quarter of 2010 and approved the 2010 consolidated financial statements, as well as the parent company financial statements and the proposed dividend which will be submitted to the Annual Shareholders’ Meeting for approval.

This information will be disclosed in a press release to be issued at 8:00 a.m. Paris time on February 11, 2011.

The Board decided to propose at the Annual Meeting, to be held in Paris on May 13, 2011, the re-election as directors for a three-year term of Patricia Barbizet, Paul Desmarais Jr. and Claude Mandil.

The Board also decided to propose at the May 13, 2011, Annual Meeting the election as directors of the Company for a three-year term of Marie-Christine Coisne, Chairman and CEO of Sonepar, and Barbara Kux, member of the Managing Board of Siemens AG.

As allowed under the articles of incorporation, the Board decided to offer shareholders the possibility of receiving the notice of meeting by e-mail and voting online, provided they do so prior to the meeting. A secure, dedicated Web site (http://gisproxy.bnpparibas.com/total.pg) will be open from April 22 to May 12, 2011, until 3:00 p.m. Paris time.

*******

EX-99.7 8 y03433exv99w7.htm EX-99.7:FOURTH QUARTER AND FULL YEAR 2010 RESULTS exv99w7

Exhibit 99.7

TOTAL
2, place Jean Millier
La Défense 6
92 400 Courbevoie France
Fax : + 33 (0) 1 47 44 68 21

Isabelle DESMET
Tel.: + 33 (0) 1 47 44 37 76

Sonia CERQUEIRA
Tel.: +33 (0) 1 47 44 47 05

Michaël CROCHET-VOUREY
Tel.: + 33 (0) 1 47 44 81 33

Sandra DANTE
Tel.: + 33 (0) 1 47 44 46 07

Hortense OURY
Tel.: + 33 (0) 1 47 44 23 34

Ava PEREZ
Tel.: + 33 (0) 1 47 44 64 65

Florent SEGURA
Tel.: + 33 (0) 1 47 44 31 38

Phénélope SEMAVOINE
Tel.: + 33 (0) 1 47 44 76 29

Frédéric TEXIER
Tel.: + 33 (0) 1 47 44 38 16

TOTAL S.A.
Capital 5 874 102 327,50 euros
542 051 180 R.C.S. Nanterre

www.total.com

Paris, February 11, 2011

Fourth quarter and full year 2010 results

Change

4Q10

vs 4Q09

2010

vs 2009

Adjusted net income¹

- in billion euros (B€)

2.6

+23%

10.3

+32%

- in billion dollars (B$)

3.5

+13%

13.6

+26%

- in euros per share

1.14

+23%

4.58

+32%

- in dollars per share

1.54

+12%

6.08

+25%

Net income (Group share) of 10.6 B€ in 2010

Net-debt-to-equity ratio of 22% at December 31, 2010

Hydrocarbon production of 2,387 kboe/d in the fourth quarter 2010

2010 dividend of 2.28 €/share²

Commenting on the results, Chairman and CEO Christophe de Margerie said :

“Beyond the more favorable environment than the one in 2009, the increase in the 2010 results reflects the improvement in the Group’s performance, with notably production growth of more than 4% compared to 2009 and a strong rebound in Chemicals.

The year 2010 also marks a new dynamic in the implementation of our strategy, with a bolder exploration program and profound changes to the portfolio in each business segment. Throughout our operations, wherever we are present, the Group reaffirms the priority of safety, reliability and acceptability as essential to sustainability and growth.

Confident in a favorable environment and in the ability of our people to develop value creating projects, the Group announces a 2011 investment budget of 20 billion dollars, or about 16 billion euros, and commits to maintain its policy for shareholder returns while keeping a strong balance sheet.”

The Board of Directors of Total, led by Chairman and CEO Christophe de Margerie, met on February 10, 2011, and decided to propose at its Annual Shareholders Meeting on May 13, 2011, a dividend of 2.28 €/share, stable as compared to the previous year.

¨ ¨ ¨


¹		definition of adjusted results on page 2 - dollar amounts represent euro amounts converted at the average €-$ exchange rate for the period : 1.3583 $/€ for the 4th quarter 2010 ; 1.4779 $/€ for the 4th quarter 2009 ; 1.2910 $/€ for the 3rd quarter 2010 ; 1.3257 $/€ for the full year 2010 ; and 1.3948 $/€ for the full year 2009. Net income (Group share) was 2,030 M€ in the fourth quarter 2010.

²		pending approval at the May 13, 2011, Annual Shareholders Meeting.

•

Key figures³


						4Q10								2010
						vs			in millions of euros					vs
4Q10		3Q10		4Q09		4Q09			except earnings per share and number of shares	2010		2009		2009
	40,157		40,180		36,228		+11	%	Sales		159,269		131,327		+21	%
	5,102		4,728		3,985		+28	%	Adjusted operating income from business segments		19,797		14,154		+40	%
	2,736		2,643		2,071		+32	%	Adjusted net operating income from business segments		10,622		7,607		+40	%

	2,300		2,123		1,948		+18	%	• Upstream		8,597		6,382		+35	%
	266		264		51		X5		• Downstream		1,168		953		+23	%
	170		256		72		X2		• Chemicals		857		272		X3
	2,556		2,475		2,081		+23	%	Adjusted net income		10,288		7,784		+32	%
	1.14		1.10		0.93		+23	%	Adjusted fully-diluted earnings per share (euros)		4.58		3.48		+32	%
	2,247.9		2,244.9		2,241.4		—		Fully-diluted weighted-average shares (millions)		2,244.5		2,237.3		—

	2,030		2,827		2,065		-2	%	Net income (Group share)		10,571		8,447		+25	%

	5,026		4,092		3,524		+43	%	Investments⁴		16,273		13,349		+22	%
	4,424		4,005		3,419		+29	%	Investments including net investments in equity affiliates and non-consolidated companies⁴		15,445		13,003		+19	%
	1,344		1,074		944		+42	%	Divestments		4,316		3,081		+40	%
	3,387		4,904		1,889		+79	%	Cash flow from operations		18,493		12,360		+50	%
	4,648		4,359		3,408		+36	%	Adjusted cash flow from operations		17,996		13,471		+34	%


						4Q10								2010
						vs			in millions of dollars⁵					vs
4Q10		3Q10		4Q09		4Q09			except earnings per share and number of shares	2010		2009		2009
	54,545		51,872		53,541		2	%	Sales		211,143		183,175		+15	%
	6,930		6,104		5,889		18	%	Adjusted operating income from business segments		26,245		19,742		+33	%
	3,716		3,412		3,061		21	%	Adjusted net operating income from business segments		14,082		10,610		+33	%

	3,124		2,741		2,879		9	%	• Upstream		11,397		8,902		+28	%
	361		341		75		X5		• Downstream		1,548		1,329		+16	%
	231		330		106		X2		• Chemicals		1,136		379		X3
	3,472		3,195		3,076		+13	%	Adjusted net income		13,639		10,857		+26	%
	1.54		1.42		1.37		+12	%	Adjusted fully-diluted earnings per share (dollars)		6.08		4.85		+25	%
	2,247.9		2,244.9		2,241.4		—		Fully-diluted weighted-average shares (millions)		2,244.5		2,237.3		—

	2,757		3,650		3,052		-10	%	Net income (Group share)		14,014		11,782		+19	%

	6,827		5,283		5,208		+31	%	Investments⁴		21,573		18,619		+16	%
	6,009		5,170		5,053		+19	%	Investments including net investments in equity affiliates and non-consolidated companies⁴		20,475		18,137		+13	%

	1,826		1,387		1,395		+31	%	Divestments		5,722		4,297		+33	%
	4,601		6,331		2,792		+65	%	Cash flow from operations		24,516		17,240		+42	%
	6,313		5,627		5,037		+25	%	Adjusted cash flow from operations		23,857		18,789		+27	%


³		adjusted results (adjusted operating income, adjusted net operating income and adjusted net income) is defined as income using replacement cost, adjusted for special items and, through June 30, 2010, excluding Total’s equity share of adjustments related to Sanofi-Aventis; adjusted cash flow from operations is defined as cash flow from operations before changes in working capital at replacement cost; adjustment items are on page 19 and the inventory valuation effect is shown on page 16.

⁴		including acquisitions.

⁵		dollar amounts represent euro amounts converted at the average €-$ exchange rate for the period.

•

Highlights since the beginning of the fourth quarter 2010

	•		Formed a strategic alliance with Suncor encompassing the Fort Hills and Joslyn oil sands mining projects and the Voyageur upgrader in Canada

	•		Increased share to 27.5% and launched the GLNG project in Australia to develop and liquefy coal seam gas

	•		Launched the West Franklin phase two development in the UK North Sea

	•		Offshore discoveries : on Moho Bilondo in Congo, near Laggan Tormore in the UK North Sea, on Block 15/06 in Angola and on Block B in Brunei

	•		Expanded resource base by acquiring interests in exploration permits in deep-offshore Malaysia and Ivory Coast, in three onshore permits in Gabon, in shale gas in Argentina and three pre-salt blocks in Angola

	•		Sold the 5% interest in Block 31 in Angola

	•		Signed an agreement to sell the exploration and production subsidiary in Cameroon and a 20% interest in the Ipati and Aquio permits in Bolivia

	•		Closed the refinery at Dunkirk

	•		Signed a partnership agreement to study a coal-to-olefins petrochemical plant in China

	•		Announced plan to sell the resins activities in Specialty Chemicals

•		Fourth quarter 2010 results

		> Operating Income

In the fourth quarter 2010, the Brent price averaged 86.5 $/b, an increase of 16% compared to the fourth quarter 2009 and 12% compared to the third quarter 2010. The European refining margin indicator (ERMI) averaged 32.3 $/t compared to 11.7 $/t in the fourth quarter 2009 and 16.4 $/t in the third quarter 2010.

The euro-dollar exchange rate averaged 1.36 $/€ in the fourth quarter 2010 compared to 1.48 $/€ in the fourth quarter 2009 and 1.29 $/€ in the third quarter 2010.

In this environment, the adjusted operating income from the business segments was 5,102 M€ in the fourth quarter 2010, an increase of 28% compared to fourth quarter 2009⁶. Expressed in dollars, the increase was 18%

The effective tax rate⁷ for the business segments was 57% in the fourth quarter 2010, stable compared to fourth quarter 2009.

Adjusted net operating income from the business segments was 2,736 M€ in the fourth quarter 2010 compared to 2,071 M€ in the fourth quarter 2009, an increase of 32%. Expressed in dollars, the adjusted net operating income from the business segments was 3.7 billion dollars (B$), an increase of 21% compared to the fourth quarter 2009.


⁶		special items affecting operating income from the business segments had a negative impact of 1,305 M€ in the 4^th quarter 2010 and a negative impact of 411 M€ in the 4^th quarter 2009.

⁷		defined as: (tax on adjusted net operating income) / (adjusted net operating income – income from equity affiliates, dividends received from investments and impairments of acquisition goodwill + tax on adjusted net operating income).

> Net Income

Adjusted net income was 2,556 M€ in the fourth quarter 2010 compared to 2,081 M€ in the fourth quarter 2009, an increase of 23%. Expressed in dollars, adjusted net income increased by 13%.

Effective July 1, 2010, the Group no longer accounts for its interest in Sanofi-Aventis as an equity affiliate. In the fourth quarter 2009, the contribution to the Group’s adjusted net income from Sanofi Aventis was 131 M€. Excluding the contribution of Sanofi-Aventis, the Group’s adjusted net income would have increased by 31% in euros and 20% in dollars.

Adjusted net income excludes the after-tax inventory effect and special items.

•		The after-tax inventory effect had a positive impact of 283 M€ in the fourth quarter 2010 and a positive impact of 296 M€ in the fourth quarter 2009.

•		Special items had a negative impact on net income of 809 M€ in the fourth quarter 2010, comprised essentially of impairments on European refining assets, partially offset by gains on asset sales. In the fourth quarter 2009, special items had a negative impact on net income of 264 M€⁸.

•		In the fourth quarter 2009, special items included the Group’s equity share of adjustment items related to Sanofi-Aventis that had a negative impact on net income of 48 M€.

Net income (Group share) was 2,030 M€ compared to 2,065 M€ in the fourth quarter 2009.

The effective tax rate for the Group was 57% in the fourth quarter 2010 compared to 55% in the fourth quarter 2009.

Adjusted fully-diluted earnings per share, based on 2,247.9 million fully-diluted weighted average shares, was 1.14 euros compared to 0.93 euros in the fourth quarter 2009, an increase of 23%.

Expressed in dollars, adjusted fully-diluted earnings per share increased 12% to 1.54 dollars.

> Investments — Divestments⁹

Investments, excluding acquisitions and including net investments in equity affiliates and non-consolidated companies, were 3.5 B€ (4.7 B$) in the fourth quarter 2010 compared to 3.3 B€ (4.9 B$) in the fourth quarter 2009.

Acquisitions were 970 M€ in the fourth quarter 2010, including essentially the acquisition of a 20% share in the GLNG project in Australia. The transaction to increase the interest in GLNG from 20% to 27.5% will be finalized in 2011.

Asset sales in the fourth quarter 2010 were 742 M€, comprised essentially of the sale of the company’s 5% share in Block 31 in Angola.

Net investments¹⁰ were 3.7 B€ (5.0 B$) in the fourth quarter 2010 compared to 2.6 B€ (3.8 B$) in the fourth quarter 2009.


⁸		detail shown on page 19.

⁹		detail shown on page 20.

¹⁰		net investments = investments including acquisitions and net investments in equity affiliates and non-consolidated companies – asset sales + net financing for employees related to stock purchase plans.

> Cash flow

Cash flow from operations was 3,387 M€ in the fourth quarter 2010 compared to 1,889 M€ in the fourth quarter 2009. The increase is essentially due to the increase in net income before the fourth quarter 2010 impairment charges on European refining assets.

Adjusted cash flow from operations¹¹ was 4,648 M€, an increase of 36% compared to the fourth quarter 2009. Expressed in dollars, the adjusted cash flow from operations was 6.3 B$, an increase of 25%.

The Group’s net cash flow¹² was a negative 295 M€ compared to a negative 691 M€ in the fourth quarter 2009. Expressed in dollars, the Group’s net cash flow was a negative 0.4 B$ in the fourth quarter 2010.


¹¹		cash flow from operations at replacement cost before changes in working capital.

¹²		net cash flow = cash flow from operations + divestments – gross investments.

•

Results for the full year 2010

> Operating income

Compared to the full year 2009, the 2010 oil market environment was marked by a 29% increase in the average Brent price to 79.5 $/b while the average realized price of gas was stable. The ERMI increased to 27.4 $/t in 2010 from 17.8 $/t in 2009. The euro-dollar exchange rate was 1.33 $/€ compared to 1.39 $/€ on average in 2009.

In this environment, the adjusted operating income from the business segments was 19,797 M€, an increase of 40% compared to 2009¹³. Expressed in dollars, the adjusted operating income from the business segments was 26.2 B$, an increase of 33% compared to 2009.

The effective tax rate¹⁴ for the business segments was 56% compared to 55% in 2009.

The adjusted net operating income from the business segments was 10,622 M€ compared to 7,607 M€ in 2009, an increase of 40%.

Expressed in dollars, the adjusted net operating income from business segments increased by 33%.

> Net income

Adjusted net income increased by 32% to 10,288 M€ compared to 7,784 M€ in 2009. Expressed in dollars, the adjusted net income increased by 26%.

Effective July 1, 2010, the Group no longer accounts for its interest in Sanofi-Aventis as an equity affiliate. The contribution to the Group’s adjusted net income from Sanofi Aventis was 290 M€ in 2010 compared to 786 M€ in 2009. Excluding the impact of the contribution of Sanofi-Aventis, the Group’s adjusted net income would have increased by 43% in euros and 36% in dollars.

Adjusted net income excludes the after-tax inventory effect, special items, and through June 30, 2010, the Group’s equity share of adjustment items related to Sanofi-Aventis.

•		The after-tax inventory effect had a positive impact of 748 M€ compared to a positive impact of 1,533 M€ in 2009.

•		The Group’s share of adjustment items related to Sanofi-Aventis had a negative impact of 81 M€ in 2010 and a negative impact of 300 M€ in 2009.

•		Special items had a negative impact on net income of 384 M€ in 2010, comprised essentially of asset impairments that had a negative impact of 1,224 M€ and gains on asset sales that had a positive impact of 1,046 M€. Special items had a negative impact of 570 M€ in 2009¹⁵.

Net income (Group share) was 10,571 M€ compared to 8,447 M€ in 2009.

The effective tax rate for the Group was 56% in 2010 compared to 55% in 2009.

On December 31, 2010, there were 2,249.3 million fully-diluted shares compared to 2,243.7 million fully-diluted shares on December 31, 2009.

In 2010, the adjusted fully-diluted earnings per share, based on 2,244.5 million weighted-average shares, was 4.58 euros compared 3.48 euros in 2009, an increase of 32%.

Expressed in dollars, adjusted fully-diluted earnings per share were 6.08 compared to 4.85 in 2009, an increase of 25%.


¹³		special items affecting operating income from the business segments had a negative impact of 1,394 M€ in 2010 and a negative impact of 711 M€ in 2009.

¹⁴		defined as: (tax on adjusted net operating income) / (adjusted net operating income – income from equity affiliates, dividends received from investments and impairments of acquisition goodwill + tax on adjusted net operating income).

¹⁵		detail shown on page 19.

> Investments — divestments¹⁶

Investments, excluding acquisitions and including net investments in equity affiliates and non-consolidated companies, were 11.9 B€ (15.8 B$) in 2010 compared to 12.3 B€ (17.1 B$) in 2009.

Acquisitions were 3.5 B€ in 2010, comprised essentially of the acquisition of assets in the Barnett Shale in the United States, UTS in Canada, a 20% interest in the GLNG project in Australia and an increased stake in the Laggan Tormore blocks in the UK.

Asset sales in 2010 were 3.5 B€, comprised essentially of the sale of Sanofi-Aventis shares, the Valhall and Hod fields in Norway, the 5% interest in Block 31 in Angola, and the Mapa Spontex unit in the Chemicals segment.

Net investments¹⁷ increased by 16% to 12.0 B€ from 10.3 B€ in 2009. Expressed in dollars, net investments in 2010 increased by 11% to 15.9 B$.

> Cash flow

Cash flow from operations was 18,493 M€, an increase of 50% compared to 2009, essentially due to the increase in net income and the more favorable change in working capital than in 2009.

Adjusted cash flow from operations¹⁸ was 17,996 M€, an increase of 34%. Expressed in dollars, adjusted cash flow from operations was 23.9 B$, an increase of 27%.

The Group’s net cash flow¹⁹ was 6,536 M€ compared to 2,092 M€ in 2009. Expressed in dollars, the Group’s net cash flow was 8.7 B$ in 2010.

The net-debt-to-equity ratio was 22.2% on December 31, 2010, compared to 18.2% on September 30, 2010 and 26.6% on December 31, 2009²⁰.


¹⁶		detail shown on page 20.

¹⁷		net investments = investments including acquisitions and net investments in equity affiliates and non-consolidated companies – asset sales + net financing for employees related to stock purchase plans.

¹⁸		cash flow from operations at replacement cost before changes in working capital.

¹⁹		net cash flow = cash flow from operations + divestments – gross investments.

²⁰		detail shown on page 21.

•

Analysis of business segment results

Upstream

> Environment — liquids and gas price realizations*


						4Q10								2010
						vs								vs
4Q10		3Q10		4Q09		4Q09				2010		2009		2009
	86.5		76.9		74.5		+16	%	Brent ($/b)		79.5		61.7		+29	%
	83.7		72.8		70.6		+19	%	Average liquids price ($/b)		76.3		58.1		+31	%
	5.62		5.13		5.07		+11	%	Average gas price ($/Mbtu)		5.15		5.17		—
	61.9		54.9		54.4		+14	%	Average hydrocarbons price ($/boe)		56.7		47.1		+20	%


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

> Production


						4Q10								2010
						vs								vs
4Q10		3Q10		4Q09		4Q09			Hydrocarbon production	2010		2009		2009
	2,387		2,340		2,377		—		Combined production (kboe/d)		2,378		2,281		+4	%

	1,337		1,325		1,404		-5	%	• Liquids (kb/d)		1,340		1,381		-3	%
	5,692		5,529		5,320		+7	%	• Gas (Mcf/d)		5,648		4,923		+15	%

In the fourth quarter 2010, hydrocarbon production was 2,387 thousand barrels of oil equivalent per day (kboe/d), an increase of 0.4% compared to the fourth quarter 2009, essentially as a result of :

•		production ramp-ups on new projects more than offsetting the normal decline,

•		+1% for lower OPEC reductions and an improvement in gas demand,

•		+0.5% for improved security conditions in Nigeria,

•		+0.5% for changes in the portfolio,

•		-2% for the price effect²¹.

In 2010, hydrocarbon production was 2,378 kboe/d, an increase of 4.3% compared to 2009, essentially as a result of :

•		+3% for production ramp-ups on new projects, net of the normal decline, and a lower level of turnarounds,

•		+1.5% for lower OPEC reductions and an increase in gas demand,

•		+1% for improved security conditions in Nigeria,

•		+2% for changes in the portfolio,

•		-3% for the price effect²¹.


²¹		impact of changing hydrocarbon prices on entitlement volumes.

> Reserves


Year-end reserves	2010		2009		%
Hydrocarbon reserves (Mboe)		10,695		10,483		+2	%

• Liquids (Mb)		5,987		5,689		+5	%
• Gas (Bcf)		25,788		26,318		-2	%

Proved reserves based on SEC rules (based on Brent at 79.02 $/b) were 10,695 Mboe at December 31, 2010. Based on the 2010 average rate of production, the reserve life is more than 12 years.

The 2010 reserve replacement rate²², based on SEC rules, was 124%.

As of year-end 2010, Total has a solid and diversified portfolio of proved and probable reserves²³ representing more than 20 years of reserve life based on the 2010 average production rate, and resources²⁴ representing more than 40 years of reserve life.

> Results


						4Q10								2010
						vs								vs
4Q10		3Q10		4Q09		4Q09			in millions of euros	2010		2009		2009
	4,695		4,190		3,908		+20	%	Adjusted operating income*		17,653		12,879		+37	%
	2,300		2,123		1,948		+18	%	Adjusted net operating income*		8,597		6,382		+35	%
	313		335		293		+7	%	• includes income from equity affiliates		1,254		886		+42	%

	3,942		3,400		2,429		+62	%	Investments		13,208		9,855		+34	%
	771		1,035		77		x10		Divestments		2,067		398		x5
	3,908		2,831		2,825		+38	%	Cash flow from operating activities		15,573		10,200		+53	%
	3,619		3,498		3,168		+14	%	Adjusted cash flow		14,136		11,336		+25	%


*		detail of adjustment items shown in the business segment information annex to financial statements.

Adjusted net operating income from the Upstream segment was 2,300 M€ in the fourth quarter 2010 compared to 1,948 M€ in the fourth quarter 2009, an increase of 18%.

Expressed in dollars, adjusted net operating income for the Upstream segment increased by 9%, reflecting essentially the impact of higher hydrocarbon prices compared to the fourth quarter 2009.

The effective tax rate for the Upstream segment was 59% compared to 58% in the fourth quarter 2009.


²²		change in reserves excluding production i.e. (revisions + discoveries, extensions + acquisitions – divestments) / production for the period. The reserve replacement rate would be 95% in an environment with a constant 59.91 $/b oil price, excluding acquisitions and divestments.

²³		limited to proved and probable reserves covered by E&P contracts on fields that have been drilled and for which technical studies have demonstrated economic development in a 80 $/b Brent environment, including projects developed by mining.

²⁴		proved and probable reserves plus contingent resources (potential average recoverable reserves from known accumulations - Society of Petroleum Engineers — 03/07).

For the full year 2010, adjusted net operating income from the Upstream segment was 8,597 M€ compared to 6,382 M€ in 2009, an increase of 35%. Expressed in dollars, adjusted net operating income for the Upstream segment increased by 28% to 11.4 B$, reflecting essentially the impact of production growth and higher hydrocarbon prices.

Technical costs for consolidated subsidiaries, in accordance with ASC 932²⁵, were 16.6 $/boe in 2010, compared to 15.4 $/boe in 2009.

The return on average capital employed (ROACE²⁶) for the Upstream segment was 21% in 2010 compared to 18% in 2009.


²⁵		FASB Accounting Standards Codification Topic 932, Extractive industries – Oil and Gas

²⁶		calculated based on adjusted net operating income and average capital employed, using replacement cost, as shown on page 22.

Downstream

> Refinery throughput and utilization rates*


									4Q10										2010
									vs										vs
4Q10			3Q10			4Q09			4Q09				2010			2009			2009
	1,832			2,068			2,055			-11	%	Total refinery throughput (kb/d)		2,009			2,151			-7	%

	550			773			701			-22	%	• France		697			836			-17	%
	1,039			1,038			1,104			-6	%	• Rest of Europe		1,059			1,065			-1	%
	243			257			250			-3	%	• Rest of world		253			250			+1	%
												Utilization rates
	66	%		74	%		75	%				• Based on crude only		73	%		78	%
	71	%		80	%		79	%				• Based on crude and other feedstock		77	%		83	%


*		includes share of CEPSA.

In the fourth quarter 2010, refinery throughput decreased by 11% compared to the fourth quarter 2009, mainly due to strikes that affected all French refineries in the fourth quarter 2010 as well as the shut-down of a distillation unit at the Lindsey refinery in the UK following an incident in June 2010.

For the full year 2010, refinery throughput decreased by 7% compared to 2009, reflecting essentially the shutdown of the Dunkirk refinery and a distillation unit at the Normandy refinery as well as impacts from strikes in France.

> Results


								4Q10								2010
								vs			in millions of euros					vs
4Q10			3Q10		4Q09			4Q09			(except the ERMI)	2010		2009		2009
	32.3			16.4		11.7			x3		European refining margin indicator — ERMI ($/t)		27.4		17.8		+54	%
	274			237		11			x25		Adjusted operating income*		1,251		1,026		+22	%
	266			264		51			x5		Adjusted net operating income*		1,168		953		+23	%
	61			60		19			x3		• includes income from equity affiliates		179		155		+15	%
	757			568		844			-10	%	Investments		2,343		2,771		-15	%
	433			28		48			x9		Divestments		499		133		x4
	(955	)		900		(1,400	)	na			Cash flow from operating activities		1,441		1,164		+24	%
	753			555		199			x4		Adjusted cash flow		2,405		1,601		+50	%


*		detail of adjustment items shown in the business segment information annex to financial statements.

The European refinery margin indicator (ERMI) averaged 32.3 $/t in the fourth quarter 2010, representing a nearly three-fold increase compared to the fourth quarter 2009. For the full year 2010, the ERMI was 27.4$/t, an increase of 54% compared to 2009.

Adjusted net operating income from the Downstream segment was 266 M€ in the fourth quarter 2010, compared to 51 M€ in the fourth quarter 2009.

Expressed in dollars, adjusted net operating income from the Downstream segment was 361 M$. This result represents close to a 5-fold increase over the fourth quarter 2009, and is mainly due to the rebound in fourth quarter 2010 refining margins versus the very low levels of margins in the fourth quarter 2009. However, the Group did not fully benefit from the improved environment due to significantly lower throughput as compared to the fourth quarter 2009 in the French refineries and the Lindsey refinery in the UK. The impact of the strikes on adjusted net operating income was determined to be close to 100 M$.

For the full year 2010, adjusted net operating income for the Downstream segment 1,168 M€ compared to 953 M€ in 2009.

Expressed in dollars, the adjusted net operating income for the Downstream segment was 1.5 B$, an increase of 16% compared to 2009. The increase is essentially due to the positive impact of the refining margin improvement, which was partially offset by lower throughput and reliability of the Group’s refineries in 2010 and less favorable conditions for supply optimization.

The persistence of an unfavorable economic environment for refining, affecting Europe in particular, led the Group to recognize an impairment in the Downstream, essentially on French and UK refining assets, in the fourth quarter 2010 in the amount of 1,192 M€ in operating income and 913 M€ in net operating income. These elements have been treated as adjustment items.

The ROACE²⁷ for the Downstream segment was 8% in 2010 compared to 7% in 2009.


²⁷		calculated based on adjusted net operating income and average capital employed, using replacement cost, as shown on page 22.

Chemicals


								4Q10								2010
								vs								vs
4Q10		3Q10			4Q09			4Q09			in millions of euros	2010		2009		2009
	4,218		4,460			3,932			+7	%	Sales		17,490		14,726		+19	%
	2,579		2,748			2,389			+8	%	• Base chemicals		10,653		8,655		+23	%
	1,639		1,710			1,543			+6	%	• Specialties		6,824		6,071		+12	%
	133		301			66			x2		Adjusted operating income*		893		249		x3,5
	170		256			72			x2		Adjusted net operating income*		857		272		x3
	67		133			(16	)	na			• Base chemicals		393		16		x25
	109		125			93			+17	%	• Specialties		475		279		+70	%
	292		111			225			+30	%	Investments		641		631		+2	%
	23		(10	)		20			+15	%	Divestments		347		47		x7
	332		215			324			+2	%	Cash flow from operating activities		934		1,082		-14	%
	189		322			218			-13	%	Adjusted cash flow		1,157		442		x3


*		detail of adjustment items shown in the business segment information annex to financial statements.

The environment for the Base chemicals was weaker in the fourth quarter 2010 than in the third quarter 2010, affected by a decrease in petrochemical margins, particularly in Europe; however, globally the environment remained more favorable than in the fourth quarter 2009.

For the full year 2010, Chemicals benefited from a strong rebound in demand and Base chemical margins as well as an increase in demand in the Specialties chemicals markets.

Sales, excluding intra-Group sales, for the Chemicals segment were 4,218 M€ in the fourth quarter 2010.

The adjusted net operating income for the Chemicals segment was 170 M€ in the fourth quarter 2010, representing more than a two-fold increase over the fourth quarter 2009.

For the full year 2010, Chemicals segment sales, excluding intra-Group sales, were 17,490 M€, an increase of 19% compared to 2009.

The adjusted net operating income was 857 M€ compared to 272 M€ in 2009.
The adjusted net operating income for the Base chemicals increased by 377 M€, due to an improved environment and the ramp up of new production units in Qatar. In 2010, Specialties benefited from strong operational performance and good positioning in growth markets.

The ROACE²⁸ of the Chemicals segment was 12% in 2010 compared to 4% in 2009.


²⁸		calculated based on adjusted net operating income and average capital employed, using replacement cost, as shown on page 22.

•

Total S.A., parent company accounts and proposed dividend

Net income for Total S.A., the parent company, was 5,840 M€ in 2010 compared to 5,634 M€ in 2009. After closing the accounts, the Board of Directors decided to propose at the May 13, 2011, Annual Shareholders Meeting a dividend of 2.28 euros per share for 2010, stable compared to the previous year.

Based on 2010 adjusted net income, the pay-out ratio would be 50%.

Taking into account the interim dividend of 1.14 euros per share paid on November 17, 2010, the remaining 1.14 euros per share would be paid on May 26, 2011²⁹.

•

Summary and outlook

The ROACE for the full year 2010 was 16% for the Group and 17% for the business segments. In 2009, the ROACE was 13% for the Group and for the business segments.

Return on equity was 19% in 2010 compared to 16% in 2009.

Total plans to continue in 2011 to consolidate the drivers for future growth, while reaffirming the priority to the safety and acceptability of its operations.

The 2011 investment budget is 20 B$, and 80% will be dedicated to the Upstream. In addition, Total intends to continue to pursue targeted acquisitions and divestments of non-core assets.

The Group also confirms its commitment to research and development by raising its 2011 budget to close to 1 B$.

In the Upstream, Total will start production from a new wave of major projects beginning in mid-2011, in particular with the start-up of Pazflor in Angola expected in the fourth quarter. The Group will continue to study numerous projects, notably in Russia, Australia, Canada and China; the expectation is to launch these projects over the next two years, which will contribute to increasing the visibility on medium-term growth. With an exploration budget raised to 2.1 B$ for 2011, the Group is implementing a bolder and more diversified approach that targets larger discoveries.

In the Downstream and Chemicals segments, Total will continue to pursue measures to improve its competitiveness by adapting its European portfolio, by starting up new units at the Port Arthur refinery in the United States and by increasing its presence in growth markets.

Since the beginning of the first quarter 2011, the price of Brent has traded between 90 and 100 $/b, a significant increase over the fourth quarter 2010 average. The European refining environment remains difficult with weaker margins compared to the fourth quarter 2010.

¨ ¨ ¨


²⁹		the ex-dividend date for the remainder of the 2010 dividend would be May 23, 2011 ; for the ADR (NYSE :TOT) the ex-dividend date would be May 18, 2011.

To listen to a presentation by CEO Christophe de Margerie to financial analysts today in Paris at 11:30 (Paris time) please log on to www.total.com or call +44 (0) 207 162 0177 in Europe or +1 334 323 6203 in the U.S. For a replay through February 25, 2011 please consult the Web site or call +44 (0)207 031 4064 in Europe or +1 954 334 0342 in the U.S. (code : 883 819).

To listen to a presentation by CEO Christophe de Margerie to financial analysts today in London at 16:30 (London time) please log on to www.total.com or call +44 (0)207 162 0177 in Europe or +1 334 323 6203 in the U.S. For a replay through February 25, 2011, please consult the Web site or call +44 (0)207 031 4064 in Europe or +1 954 334 0342 in the U.S. (code : 883 820).

This document does not constitute the annual financial report within the meaning of Article L.451-1-2 of the French monetary and financial code, which is included in the company’s Registration document available on the Group’s Web site at www.total.com or by request from the company’s headquarters.

This document may contain forward-looking statements, including within the meaning of the Private Securities Litigation Reform Act of 1995, notably 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. Neither TOTAL nor any of its subsidiaries assumes 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 with the French Autorité des Marchés Financiers and the U.S. Securities and Exchange Commission (“SEC”).

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 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.

The adjusted results of the Downstream and Chemical segments are also presented according to the replacement cost method. This method is used to assess the segments’ performance and facilitate the comparability of the segments’ performance with those of its competitors.

In the replacement cost method, which approximates the LIFO (Last-In, First-Out) method, the variation of inventory values in the statement of income is, depending on the nature of the inventory, determined using either the month-end prices differential between one period and another or the average prices of the period. The inventory valuation effect is the difference between the results according to FIFO (First-In, First-Out) and the replacement cost.

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, through June 30, 2010, excluding TOTAL’s equity share of adjustments related to Sanofi-Aventis. They are meant to facilitate the analysis of the financial performance and the comparison of income between periods.

Dollar amounts presented herein represent euro amounts converted at the average euro-dollar exchange rate for the applicable period and are not the result of financial statements prepared in dollars.

Cautionary Note to U.S. Investors — The SEC permits oil and gas companies, in their filings with the SEC, to separately disclose proved, probable and possible reserves that a company has determined in accordance with SEC rules. We may use certain terms in this presentation, such as resources, that the SEC’s guidelines strictly prohibit us from including in filings with the SEC. U.S. investors are urged to consider closely the disclosure in our Form 20-F, File N° 1-10888, available from us at 2, place Jean Millier — La Défense 6 — 92078 Paris — La Défense Cedex, France, or at our Web site: www.total.com. You can also obtain this form from the SEC by calling 1-800-SEC-0330 or on the SEC’s Web site: www.sec.gov.

Operating information by segment
Fourth quarter and full year 2010

•

Upstream




						4Q10 vs			Combined liquids and gas					2010 vs
4Q10		3Q10		4Q09		4Q09			production by region (kboe/d)	2010		2009		2009
	573		521		627		-9	%	Europe		580		613		-5	%
	764		765		780		-2	%	Africa		756		749		+1	%
	540		534		493		+10	%	Middle East		527		438		+20	%
	68		65		41		+66	%	North America		65		24		x3
	179		179		167		+7	%	South America		179		182		-2	%
	241		253		242		—		Asia-Pacific		248		251		-1	%
	22		23		27		-19	%	CIS		23		24		-4	%

	2,387		2,340		2,377		—		Total production		2,378		2,281		+4	%

	477		455		393		+21	%	Includes equity and non-consolidated affiliates		444		359		+24	%



4Q10		3Q10		4Q09		4Q10 vs 4Q09			Liquids production by region (kb/d)	2010		2009		2010 vs 2009
	265		251		306		-13	%	Europe		269		295		-9	%
	614		617		648		-5	%	Africa		616		632		-3	%
	310		313		304		+2	%	Middle East		308		307		—
	30		29		30		—		North America		30		20		+50	%
	83		72		68		+22	%	South America		76		80		-5	%
	22		30		31		-29	%	Asia-Pacific		28		33		-15	%
	13		13		17		-24	%	CIS		13		14		-7	%

	1,337		1,325		1,404		-5	%	Total production		1,340		1,381		-3	%

	318		304		276		+15	%	Includes equity and non-consolidated affiliates		300		286		+5	%


4Q10		3Q10		4Q09		4Q10 vs 4Q09			Gas production by region (Mcf/d)	2010		2009		2010 vs 2009
	1,676		1,464		1,736		-3	%	Europe		1,690		1,734		-3	%
	739		758		681		+9	%	Africa		712		599		+19	%
	1,253		1,207		1,050		+19	%	Middle East		1,185		724		+64	%
	214		203		53		x4		North America		199		22		x9
	533		593		546		-2	%	South America		569		564		+1	%
	1,226		1,249		1,196		+3	%	Asia-Pacific		1,237		1,228		+1	%
	51		55		58		-12	%	CIS		56		52		+8	%

	5,692		5,529		5,320		+7	%	Total production		5,648		4,923		+15	%

	857		820		635		+35	%	Includes equity and non-consolidated affiliates		781		395		+98	%

4Q10		3Q10		4Q09		4Q10 vs 4Q09			Liquefied natural gas	2010		2009		2010 vs 2009
	3.12		3.39		2.35		+33	%	LNG sales* (Mt)		12.32		8.83		+40	%


*		sales, Group share, excluding trading; 1 Mt/y = approx. 133 Mcf/d; 2010 data restated to reflect volume estimates for Bontang LNG in Indonesia based on the 2010 SEC coefficient.

• Downstream


4Q10		3Q10		4Q09		4Q10 vs 4Q09			Refined products sales by region (kb/d)*	2010		2009		2010 vs 2009
	1,968		1,920		2,046		-4	%	Europe		1,929		2,053		-6	%
	295		286		295		—		Africa		292		281		+4	%
	95		102		145		-34	%	Americas		115		165		-30	%
	165		161		158		+4	%	Rest of world		159		142		+12	%

	2,523		2,469		2,644		-5	%	Total consolidated sales		2,495		2,641		-6	%
	1,307		1,300		921		+42	%	Trading		1,281		975		+31	%

	3,830		3,769		3,565		+7	%	Total refined product sales		3,776		3,616		+4	%


*		includes share of CEPSA and, starting October 2010, TotalERG.

Adjustment items

•

Adjustments to operating income from business segments


4Q10			3Q10			4Q09			in millions of euros	2010			2009
	(1,305	)		(15	)		(411	)	Special items affecting operating income from the business segments		(1,394	)		(711	)

	—			—			—		• Restructuring charges		—			—
	(1,393	)		(15	)		(283	)	• Impairments		(1,416	)		(391	)
	88			—			(128	)	• Other		22			(320	)
	397			(104	)		449		Pre-tax inventory effect: FIFO vs. replacement cost		993			2,205

	(908	)		(119	)		38		Total adjustments affecting operating income from the business segments		(401	)		1,494

•

Adjustments to net income (Group share)


4Q10			3Q10			4Q09			in millions of euros	2010			2009
	(809	)		400			(264	)	Special items affecting net income (Group share)		(384	)		(570	)

	352			502			92		• Gain on asset sales		1,046			179
	(42	)		(1	)		(17	)	• Restructuring charges		(53	)		(129	)
	(1,058	)		(101	)		(260	)	• Impairments		(1,224	)		(333	)
	(61	)		—			(79	)	• Other		(153	)		(287	)

	—			—			(48	)	Equity shares of adjustments related to Sanofi-Aventis*		(81	)		(300	)
	283			(48	)		296		After-tax inventory effect: FIFO vs. replacement cost		748			1,533
	(526	)		352			(16	)	Total adjustments to net income		283			663


*		based on Total’s share in Sanofi-Aventis of 7.4% at 12/31/2009.

Effective July 1, 2010, Sanofi-Aventis is no longer treated as an equity affiliate. Total’s share in Sanofi-Aventis was 5.5% on December 31, 2010 and 5.7% on September 30, 2010.

Effective tax rates


4Q10			3Q10			4Q09			Effective tax rate*	2010			2009
	58.9	%		59.5	%		57.6	%	Upstream		59.1	%		58.3	%
	57.2	%		56.3	%		55.4	%	Group		55.9	%		55.0	%


*		tax on adjusted net operating income / (adjusted net operating income — income from equity affiliates, dividends received from investments, and impairments of acquisition goodwill + tax on adjusted net operating income).

Investments — Divestments


4Q10			3Q10		4Q09		4Q10 vs 4Q09			in millions of euros	2010		2009		2010 vs 2009
	3,454			2,982		3,307		+4	%	Investments excluding acquisitions*		11,930		12,260		-3	%
	462			160		256		+80	%	•Capitalized exploration		1,042		865		+20	%
	(315	)		151		159	na			■ Net investments in equity affiliates and non-consolidated companies		117		594		-80	%
	970			1,023		112		x9		Acquisitions		3,515		743		x5
	4,424			4,005		3,419		+29	%	Investments including acquisitions*		15,445		13,003		+19	%
	742			987		821		-10	%	Asset sales		3,452		2,663		+30	%
	3,682			3,018		2,580		+43	%	Net investments**		11,957		10,268		+16	%

4Q10			3Q10		4Q09		4Q10 vs 4Q09			expressed in millions of dollars***	2010		2009		2010 vs 2009
	4,692			3,850		4,887		-4	%	Investments excluding acquisitions*		15,816		17,100		-8	%
	628			207		378		+66	%	•Capitalized exploration		1,381		1,207		+14	%
	(427	)		195		235	na			■ Net investments in equity affiliates and non-consolidated companies		155		829		-81	%
	1,318			1,321		166		x8		Acquisitions		4,660		1,036		x4
	6,009			5,170		5,053		+19	%	Investments including acquisitions*		20,475		18,137		+13	%
	1,008			1,274		1,213		-17	%	Asset sales		4,576		3,714		+23	%
	5,001			3,896		3,813		+31	%	Net investments**		15,851		14,322		+11	%


*		includes net investments in equity affiliates and non-consolidated companies.

**		net investments = investments including acquisitions and net investments in equity affiliates and non-consolidated companies — asset sales + net financing for employees related to stock purchase plans.

***		dollar amounts represent euro amounts converted at the average €-$ exchange rate for the period.

Net-debt-to-equity ratio


in millions of euros	12/31/2010			9/30/2010			12/31/2009
Current borrowings		9,653			10,201			6,994
Net current financial assets		(1,046	)		(1,351	)		(188	)
Non-current financial debt		20,783			21,566			19,437
Hedging instruments of non-current debt		(1,870	)		(1,760	)		(1,025	)
Cash and cash equivalents		(14,489	)		(18,247	)		(11,662	)
Net debt		13,031			10,409			13,556

Shareholders’ equity		60,414			57,583			52,552
Estimated dividend payable*		(2,553	)		(1,273	)		(2,546	)
Minority interests		857			838			987
Equity		58,718			57,148			50,993

Net-debt-to-equity ratio		22.2	%		18.2	%		26.6	%


*		based on a 2010 dividend equal to the dividend paid in 2009 (2.28 €/share), after deducting the interim dividend of 1.14 € per share approved by the Board of Directors on July 29, 2010.

2011 Sensitivities*

Impact on adjusted

net operating

Scenario

Change

operating income(e)

income(e)

Dollar

1.30 $/€

+0.1 $per €

-1.6 B€

-0.8 B€

Brent

80 $/b

+1 $/b

+0.27 B€/ 0.35 B$

+0.13 B€/ 0.17 B$

European refining margins ERMI

30 $/t

+1 $/t

+0.07 B€/ 0.09 B$

+0.05 B€/ 0.07 B$


*		sensitivities are revised once per year upon publication of the previous year’s fourth quarter results. The impact of the €-$ sensitivity on adjusted operating income and adjusted net operating income attributable to the Upstream segment are approximately 80% and 75% respectively, and the remaining impact of the €-$ sensitivity is essentially in the Downstream segment.

Return on average capital employed

• Full year 2010


in millions of euros	Upstream			Downstream			Chemicals			Segments			Group
Adjusted net operating income		8,597			1,168			857			10,622			10,748
Capital employed at 12/31/2009*		37,397			15,299			6,898			59,594			64,451
Capital employed at 12/31/2010*		43,972			15,561			7,312			66,845			70,866
ROACE		21.1	%		7.6	%		12.1	%		16.8	%		15.9	%


*		at replacement cost (excluding after-tax inventory effect).

• Twelve months ended September 30, 2010


in millions of euros	Upstream			Downstream			Chemicals			Segments			Group
Adjusted net operating income		8,245			953			759			9,957			10,272
Capital employed at 9/30/2009*		35,514			13,513			6,845			55,872			61,030
Capital employed at 9/30/2010*		41,629			15,379			7,232			64,240			68,242
ROACE		21.4	%		6.6	%		10.8	%		16.6	%		15.9	%


*		at replacement cost (excluding after-tax inventory effect).

• Full year 2009


in millions of euros	Upstream			Downstream			Chemicals			Segments			Group
Adjusted net operating income		6,382			953			272			7,607			8,226
Capital employed at 12/31/2008*		32,681			13,623			7,417			53,721			59,764
Capital employed at 12/31/2009*		37,397			15,299			6,898			59,594			64,451
ROACE		18.2	%		6.6	%		3.8	%		13.4	%		13.2	%


*		at replacement cost (excluding after-tax inventory effect).

EX-99.8 9 y03433exv99w8.htm EX-99.8:BOLIVIA: PRODUCTION START-UP OF THE ITAU FIELD exv99w8

Exhibit 99.8

Bolivia: Production start-up of the Itaú field

TOTAL
2, place Jean Millier
La Défense 6
92 400 Courbevoie France
Fax : + 33 (0) 1 47 44 68 21

Isabelle DESMET
Tel.: + 33 (0) 1 47 44 37 76

Sonia CERQUEIRA
Tel.: +33 (0) 1 47 44 47 05

Michaël CROCHET-VOUREY
Tel.: + 33 (0) 1 47 44 81 33

Sandra DANTE
Tel.: + 33 (0) 1 47 44 46 07

Hortense OURY
Tel.: + 33 (0) 1 47 44 23 34

Ava PEREZ
Tel.: + 33 (0) 1 47 44 64 65

Florent SEGURA
Tel.: + 33 (0) 1 47 44 31 38

Phénélope SEMAVOINE
Tel.: + 33 (0) 1 47 44 76 29

Frédéric TEXIER
Tel.: + 33 (0) 1 47 44 38 16

TOTAL S.A.
Capital 5 874 102 327,50 euros
542 051 180 R.C.S. Nanterre

www.total.com

Paris, February 15, 2011 — Total announces the start-up of the Itaú gas and condensate field located on Block XX (Tarija Oeste) 400 kilometres south of the city of Santa Cruz in the Andean Cordilleras foothills. The first phase of the development came on stream on February 2^nd and is designed to produce 1.5 million cubic meters of gas per day (10,000 barrels of oil equivalent per day (boe/d)), which will be processed in the facilities of the neighboring San Alberto field. Itaú gas production will mainly be exported. The Block XX joint venture has also submitted for approval to YPFB a development plan which aims at increasing Itaú’s production from 1.5 to 5 million cubic metres per day by mid-2013 (about 35,000 boe/d).

Total E&P Bolivie discovered the Itaú field in 1999. After having first conducted delineation operations between 2001 and 2003 and then supervised the first development phase of the field, Total E&P Bolivie sold on February 1^st a participating interest on Block XX of 4% to YPFB Chaco and of 30% to Petrobras, to which was also transferred the operatorship. After completion of these transactions, Total E&P Bolivie will hold a 41% interest on Block XX.

Total Exploration & Production in Bolivia

Total has been present in Bolivia since 1996 and in addition to its interest in Block XX also holds interests in the permits of San Alberto and San Antonio, whose production is mainly exported to Brazil. The Group’s equity production in Bolivia reached 20,000 boe/d in 2010.

Total discovered the Incahuasi field on the Ipati permit in 2004. The X-1001 well currently being drilled on the adjacent Aquio permit will delineate this discovery. As it is the case for Block XX, these permits are located in the Andean foothills.

Total also holds a 50% participating interest in the Rio Hondo permit.

*******

EX-99.9 10 y03433exv99w9.htm EX-99.9:TOTAL AGREES TO SELL ITS 48.83% STAKE OF SPANISH COMPANY exv99w9

Exhibit 99.9

TOTAL
2, place Jean Millier
La Défense 6
92 400 Courbevoie France
Fax : + 33 (0) 1 47 44 68 21

Isabelle DESMET
Tel.: + 33 (0) 1 47 44 37 76

Sonia CERQUEIRA
Tel.: +33 (0) 1 47 44 47 05

Michaël CROCHET-VOUREY
Tel.: + 33 (0) 1 47 44 81 33

Sandra DANTE
Tel.: + 33 (0) 1 47 44 46 07

Hortense OURY
Tel.: + 33 (0) 1 47 44 23 34

Ava PEREZ
Tel.: + 33 (0) 1 47 44 64 65

Florent SEGURA
Tel.: + 33 (0) 1 47 44 31 38

Phénélope SEMAVOINE
Tel.: + 33 (0) 1 47 44 76 29

Frédéric TEXIER
Tel.: + 33 (0) 1 47 44 38 16

TOTAL S.A.
Capital 5 874 102 327,50 euros
542 051 180 R.C.S. Nanterre

www.total.com

Total Agrees to Sell its 48.83% Stake of Spanish Company CEPSA to IPIC and Initiates a Co-Operation with IPIC in Oil and Gas

Paris, February 16, 2011 — Total and IPIC have signed an agreement whereby Total will sell its 48.83% share in the capital of CEPSA. This sale will take place pursuant to a public takeover bid over the entire share capital of CEPSA that IPIC has undertaken to file with the Spanish Securities Commission CNMV. IPIC will offer 28 Euros per share of CEPSA and a dividend of 0.50 Euro per share shall be paid to existing shareholders. Total has undertaken irrevocably to tender its shares into the offer and will receive an amount of approximately 3.7 billion Euros. The transaction is conditioned on obtaining all requisite government approvals.

IPIC, a wholly owned entity of the Government of the Emirate of Abu Dhabi, is currently a shareholder of CEPSA with a stake of 47.06%.

CEPSA is the second largest Spanish oil company with a refining capacity of 528,000 barrels per day, a network of approximately 1,750 service stations in Spain and Portugal and a hydrocarbons production of approximately 55,000 barrels per day. CEPSA also operates in Petrochemicals, Gas distribution and Power.

In this way, Total pursues the implementation of its goal of reducing its exposure to European Refining.

Total and IPIC also signed a Memorandum of Understanding in exploration and production whereby they intend to develop projects of common interest in the upstream oil and gas sectors.

*******

EX-99.10 11 y03433exv99w10.htm EX-99.10:RUSSIA:TOTAL ENTERS INTO A STRATEGIC PARTNERSHIP exv99w10

Exhibit 99.10

TOTAL
2, place Jean Millier
La Défense 6
92 400 Courbevoie France
Fax : + 33 (0) 1 47 44 68 21

Isabelle DESMET
Tel.: + 33 (0) 1 47 44 37 76

Sonia CERQUEIRA
Tel.: +33 (0) 1 47 44 47 05

Michaël CROCHET-VOUREY
Tel.: + 33 (0) 1 47 44 81 33

Sandra DANTE
Tel.: + 33 (0) 1 47 44 46 07

Hortense OURY
Tel.: + 33 (0) 1 47 44 23 34

Ava PEREZ
Tel.: + 33 (0) 1 47 44 64 65

Florent SEGURA
Tel.: + 33 (0) 1 47 44 31 38

Phénélope SEMAVOINE
Tel.: + 33 (0) 1 47 44 76 29

Frédéric TEXIER
Tel.: + 33 (0) 1 47 44 38 16

TOTAL S.A.
Capital 5 874 102 327,50 euros
542 051 180 R.C.S. Nanterre

www.total.com

Russia: Total enters into a strategic partnership
with the independent gas company Novatek

Paris, March 2, 2011 — Christophe de Margerie, Total’s Chairman and Chief Executive Officer, was invited to meet the Russia’s President Dmitry Medvedev this afternoon in Moscow. It gave them the opportunity to review the overall activities of Total in Russia. Christophe de Margerie highlighted the dynamism of relationships of the Group with Russian partners and expressed its optimism concerning Total’s future in Russia.

In the evening, in presence of Russia’s Prime Minister Vladimir Putin, Christophe de Margerie signed with Leonid Mikhelson, Novatek’s Chairman and one of the main shareholders, two Memorandums of Cooperation to develop the cooperation between Total and the Russian company Novatek and its main shareholders.

The cooperation will be developed around two transactions:

- Total will become the main international partner on the Yamal LNG project holding a 20% share. Novatek will hold a 51% interest in the project.

- Total will take a 12.08% shareholding in Novatek with the intent of both parties to increase the share to 15% within 12 months and to 19.40% within 36 months.

The Yamal LNG project will develop the South Tambey field located in the arctic area of the Yamal peninsula. The resources of this condensate and gas field are estimated at approximately 44 trillion cubic feet of gas (1,250 billion cubic meters), allowing production of more than 15 million tons of liquefied natural gas (LNG) per year.

The project was declared of national interest by the Russian authorities, who took in 2010 a number of decisions to facilitate its implementation. With this project, Total (20%) will have access to proved and probable reserves of approximately 800 million barrels of oil equivalent (boe) within the licence duration and to a plateau production of about 90,000 boe per day in the next decade.

The Memorandum of Cooperation related to Yamal LNG outlines the main terms and conditions for the partnership on the Project and envisages the parties’ intent to close the deal by July 2011.

Novatek is the largest independent gas producer in Russia and supplies approximately 10% of the domestic market. Its 2010 production reached 37.8 billion cubic meters of gas per year (750,000 boe per day including condensates). Novatek’s portfolio of resources is made of several giant fields that underlie Novatek’s strong potential for growth. Since 2009, Total and Novatek are jointly developing the Termokarstovoye field.

The 12% stake will be acquired by Total from Novatek’s two main shareholders based on stock market quotations. The transaction is expected to be closed by April 2011 and amounts to approximately 4 billion dollars. Total will appoint a representative to the Board of Directors of Novatek. Through this acquisition, the Group will have access to

TOTAL
2, place Jean Millier
La Défense 6
92 400 Courbevoie France
Fax : + 33 (0) 1 47 44 68 21

Isabelle DESMET
Tel.: + 33 (0) 1 47 44 37 76

Sonia CERQUEIRA
Tel.: +33 (0) 1 47 44 47 05

Michaël CROCHET-VOUREY
Tel.: + 33 (0) 1 47 44 81 33

Sandra DANTE
Tel.: + 33 (0) 1 47 44 46 07

Hortense OURY
Tel.: + 33 (0) 1 47 44 23 34

Ava PEREZ
Tel.: + 33 (0) 1 47 44 64 65

Florent SEGURA
Tel.: + 33 (0) 1 47 44 31 38

Phénélope SEMAVOINE
Tel.: + 33 (0) 1 47 44 76 29

Frédéric TEXIER
Tel.: + 33 (0) 1 47 44 38 16

TOTAL S.A.
Capital 5 874 102 327,50 euros
542 051 180 R.C.S. Nanterre

www.total.com

an equity production of 120,000 boe per day and to proved and probable reserves of about 1 billion boe.

Commenting these agreements, Christophe Margerie highlighted that “Total is delighted with this strategic alliance with Novatek, which will accelerate the Group’s development in Russia. This agreement adds to the close cooperation built with Gazprom since 2007 on the Shotkman project. In becoming the first international investor to participate in the development of the giant gas resources of the Yamal Peninsula, Total pursues its strategy aimed at establishing partnerships in producing countries with national players and confirms its leading position in the liquefied natural gas business.”

Total Exploration & Production in Russia

Total has been present in Russia since 1989. Total is operator of the Kharyaga field located in the Nenets Autonomous Region with a 40% interest. The development plan for phase 3 of the Kharyaga field was approved in December 2007. In 2010, Total’s equity production reached 10,000 boe per day.

In July 2007, Total and Gazprom signed an agreement regarding the first phase of development on the Shtokman giant gas and condensates field located in the Barents Sea. Shtokman Development AG (Total 25%) was established in February 2008 to design, construct, finance and operate the first development phase of the project. The Shtokman first development phase will produce 23.7 billion cubic meters per year. About half (7.5 million tons per year) will be exported in the form of liquefied natural gas.

Total’s Commitment to Russia

In Russia, as in other host countries, Total is committed to promoting local development. In every project in which it participates, Total creates sustainable jobs and trains employees to manage operations safely and efficiently.

Total also supports public health, education and cultural programs. Notably, it financed the construction of a school in Narian-Mar, the administrative center of the Nenets Autonomous District, and participated in the restoration of the St. Petersburg’s famous Marinsky Theater.

*******

Total is one of the largest major integrated oil and gas companies in the world, with activities in more than 130 countries. The Group is also a first rank player in chemicals. Its 93,000 employees put their expertise to work in every part of the industry — exploration and production of oil and natural gas, refining and marketing, gas and new energies, trading, and chemicals. Total is working to help satisfy the global demand for energy, both today and tomorrow. www.total.com

*******

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