-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, CHq0uEaiZ4fsFyaUkseMF4woxwPcXvrUKX8XLzZ+N+LblAliUk16sPGrAP301YfD OAYcHLoU4+vpj8c11KDg/A== 0001156973-02-000274.txt : 20020611 0001156973-02-000274.hdr.sgml : 20020611 20020611081916 ACCESSION NUMBER: 0001156973-02-000274 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 14 CONFORMED PERIOD OF REPORT: 20020531 FILED AS OF DATE: 20020611 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TOTAL FINA ELF SA CENTRAL INDEX KEY: 0000879764 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-10888 FILM NUMBER: 02676017 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 DATE OF NAME CHANGE: 19960103 FORMER COMPANY: FORMER CONFORMED NAME: TOTAL FINA SA DATE OF NAME CHANGE: 19990713 6-K 1 y00416e6vk.htm FORM 6-K e6vk
 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D.C.

FORM 6-K

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

For the month of

May 2002

TOTAL FINA ELF S.A.
(Translation of registrant’s name into English)

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

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

Form 20-F   [x]    Form 40-F   [  ]

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   [  ]    No   [x]

(If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule
12g3-
s(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 FINA ELF S.A.

     
    By :/s/ Charles Paris de Bollardière
 
           Name : Charles PARIS de BOLLARDIERE
 
Date: June 10th, 2002          Title : Treasurer

 


 

EXHIBIT INDEX

  EXHIBIT 99.1 : Nigeria : New Deepwater Oil Discovery (May 14, 2002).
 
  EXHIBIT 99.2 : Solar Power for 16,000 Households in Morocco
Morocco Awards contract to Total Energie, TotalFinaElf and Electricite de France (May 21, 2002).
 
  EXHIBIT 99.3 : First Quarter 2002 Results (May 22, 2002).
 
  EXHIBIT 99.4 : TotalFinaElf's sales in the first quarter of 2002.
 
  EXHIBIT 99.5 : Russia : TotalFinaElf signs an agreement with Anglo Siberian Oil Company to enter into the Vankor Permit (May 22, 2002).
 
  EXHIBIT 99.6 : TotalFinaElf acquires 100% ownership of its Turkish marketing subsidiary Selyak (May 24, 2002).
 
  EXHIBIT 99.7 : TotalFinaElf raises interest in Qatar's Al Khalij Field to 100% (May 29, 2002).
 
  EXHIBIT 99.8 : Atofina inaugurates a New Polypropylene unit in Feluy, Belgium (May 31, 2002).
 
  EXHIBIT 99.9 : Alaska : TotalFinaElf awarded 20 exploration blocks (June 5, 2002).
 
  EXHIBIT 99.10 : TotalFinaElf enters into an exploration permit offshore Malaysia (June 6, 2002).

EX-99.1 3 y00416exv99w1.htm PRESS RELEASE - NIGERIA exv99w1

 

Exhibit 99.1

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

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


Nigeria : New Deepwater Oil Discovery
Thomas FELL
Tel. : 33 (1) 47 44 47 57

Sophie LE CONG NEN-ALIOT
Tel. : 33 (1) 47 44 48 00

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

Christine MELVILLE
Tel. : 33 (1) 47 44 45 91

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

Thomas SAUNDERS
Tel. : 33 (1) 47 44 42 30

Laurence FRANCISCO
Tel. : 33 (1) 47 44 51 04

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

TOTAL FINA ELF S.A.
Capital 7 087 201 730 euros
542 051 180 R.C.S. Nanterre
www.totalfinaelf.com
Paris, May 14, 2002 — TotalFinaElf today announced that its Nigerian operating subsidiary, Elf Petroleum Nigeria Ltd (EPNL), has made a significant new oil discovery in deepwater Oil Prospecting License (OPL) 222, which it operates offshore Nigeria under a Production Sharing Contract (PSC) signed with the Nigerian National Petroleum Corporation (NNPC) in 1993.

The Usan-1 exploration well, located approximately 100 kilometres offshore in 750 metres of water, was drilled to a total depth of 2,725 metres. During tests, the well flowed at a rate of 5,000 barrels of 34° API oil per day. Usan-1 is the second oil discovery on the 1,800 km2 license, following the Ukot-1 discovery, which was drilled in 1998, roughly 10 kilometres to the south.

EPNL holds a 20% interest in block OPL 222, in partnership with Chevron Petroleum Nigeria Ltd, Esso Exploration and Production Nigeria and Nexen Inc.

This new discovery represents a milestone for TotalFinaElf, whose strategy is to strengthen its position in the deepwater Gulf of Guinea.
    ****
EX-99.2 4 y00416exv99w2.htm PRESS RELEASE - SOLAR POWER exv99w2
 

Exhibit 99.2

     
 
   
   
FOR IMMEDIATE RELEASE
 
 
TOTAL FINA ELF
France : Laurence FRANCISCO
Tél. : 33 (1) 47 44 51 04
laurence.francisco@totalfinaelf.com
  Solar Power for 16,000 Households in Morocco
Morocco Awards Contract to Total Energie, TotalFinaElf and
Electricité de France


Christine Melville
Tél. : 33. (1) 47 44 45 91
christine.melville@totalfinaelf.com

Maroc : TOTAL MAROC
Khalid EL MALKI
Tél. : 022 22 04 71

EDF
France : Benoît GAUSSERON
Tél. : 33 (1) 40 42 22 55
benoit.gausseron@edf.fr

Maroc : EDF Maroc
Tél. : 022 94 95 25
edfmaroc@marocnet.net.ma

TOTAL ENERGIE
France : Pierre GENIN
Tél. : 33 (4) 78 48 88 50
maroc@total-energie.fr

Maroc : Mounir LAGHRIBI
Tél. : 065 61 29 87
maroc@total-energie.fr
  Paris, May 21, 2002 – A consortium led by Total Energie and comprising shareholders TotalFinaElf, through its subsidiary Total Maroc, and Electricité de France (EDF), has been awarded a contract for a rural solar power electrification program covering 16,000 households in Morocco. The contract award follows an international tender held by Morocco’s Office National d’Electricité (ONE) in which seven Moroccan and non-Moroccan consortia submitted bids.

The agreement was signed today in Rabat by ONE, Total Energie, EDF and Total Maroc, under the auspices of the Moroccan Ministry of Industry, Trade, Energy and Mines.

The solar power electrification program, part of the Global Rural Electrification Program (PERG) being implemented by ONE, covers rural regions remote from the electricity grid and scattered housing southeast of Rabat and Casablanca. Each household will be equipped with a solar panel and battery system to supply power for lighting and domestic appliances. Installation of the systems will take place over a period of four years, beginning in the second half of 2002.

The three partners will create a company known as Total EDF Maroc Solaire (TEMASOL) to deploy the program, to ensure the systems are reliable and to guarantee the quality of the service delivered. TEMASOL will use Total Energie’s photovoltaic systems and, under a ten-year contract, be responsible for managing the technical and financial aspects of the program, performing maintenance, replacing equipment and collecting the fees paid by users.

The project has an estimated budget of EUR 13 million. ONE will provide EUR 7.2 million with the financial support of Germany’s Kreditanstalt für Wiederaufbau (KFW), a cooperation bank. The Agence Française de Développement (AFD) approached the Fonds Français pour l’Environnement Mondial (FFEM) to finance technical support. The Total Energie-TotalFinaElf-EDF consortium and users will be responsible for additional financing.

Total Energie, TotalFinaElf and EDF are pooling their capabilities to successfully implement this socially and economically innovative project that is also environmentally-friendly. The solar electrification program is fully in line with the partners’ sustainable development strategy.
   
* * * * * * * *
EX-99.3 5 y00416exv99w3.htm 1ST QUARTER RESULTS (2002) exv99w3
 

Exhibit 99.3

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

Catherine ENCK
Tél. : 33 (1) 47 44 37 76

Thomas FELL
Tél. 33 (1) 47 44 47 51
  TotalFinaElf reports First Quarter 2002 net income
excluding non-recurring items

• 1.42 billion euros, a 36% decrease
• 2.12 euros per share, a 32% decrease

7.1% increase in hydrocarbon production
Sophie LE CONG NEN-ALIOT
Tél. : 33 (1) 47 44 48 00

Patricia MARIE
Tél. : 33 (1) 47 44 45 90

Christine MELVILLE
Tél. : 33 (1) 47 44 45 91

Christine de CHAMPEAUX
Tél. : 33 (1) 47 44 47 49

Thomas SAUNDERS
Tél. : 33 (1) 47 44 42 30

Laurence FRANCISCO
Tél. : 33 (1) 47 44 51 04

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


TOTAL FINA ELF S.A.
Capital 7 087 201 730 euros
542 051 180 R.C.S. Nanterre

www.totalfinaelf.com
 



Paris – May 22, 2002 – TotalFinaElf reported a limited decline of 32% in earnings per share, excluding non-recurring items, for the first quarter 2002 versus the same quarter last year, despite the overall weaker oil market environment.

The average Brent oil price fell by 18% to $21.1/b in the first quarter 2002 from $25.8/b in the first quarter 2001. European refining margins fell to one-sixth of the year-ago level to reach $2.4/t in the first quarter 2002, and petrochemical margins decreased to historic lows. Partially offsetting these impacts was a 5% increase in the dollar relative to the euro, with the average exchange rate settling to $0.88 per euro in the first quarter 2002.

Given the weaker environment, operating income from the business segments fell by 35% to 2,432 million euros in the first quarter 2002 from 3,748 million euros in the first Quarter 2001. There were no non-recurring items affecting operating income for either Quarter.

Net operating income from the business segments excluding non-recurring items fell by 41% to 1,356 million euros in the first quarter 2002 from 2,299 million euros in the first quarter 2001. The proportionately larger decrease in net operating income takes into account the fact that the Upstream segment, which is more heavily taxed than the Downstream and Chemicals segments, contributed a larger share of the operating Income in the first quarter 2002 than in the first quarter 2001.

Net income excluding non-recurring items declined by 36% to 1,419 million euros in the first quarter 2002 versus the same period last year. Relative to the decrease in net Operating income from the business segments, the decrease in net income takes into Account the positive impact of lower net interest expense in the first quarter 2002 as Compared to the first quarter 2001.

Earnings per share excluding non-recurring items, based on 670.6 million fully-diluted Weighted-average shares in the first quarter 2002, declined by only 32% to 2.12 euros per share compared to 3.12 euros per share in the same quarter last year, reflecting the positive impact of the share buy-back program.

1


 

     
    During the first quarter 2002, TotalFinaElf bought back 2.60 million shares for a total of 0.41 billion euros. As of March 31, 2002, the number of fully-diluted shares was 670.6 million compared to 704.5 million at March 31, 2001.

Net income for the first quarter 2002 declined by 35% to 1,429 million euros, including a net positive impact from non-recurring items of 10 million euros, consisting primarily of gains on sales of financial participations offset by additional restructuring charges in the Chemicals segment and a provision related to the company’s decision not to reopen the AZF fertilizer plant in Toulouse following the explosion there on September 21, 2001.
2, place de la Coupole
La Défense 6
92 400 Courbevoie France
Fax : 33 (1) 47 44 68 21
 
The estimation of the potential financial impact stemming from the crisis in Argentina has not been completed at this time and no provision was made in the first quarter 2002. TotalFinaElf’s operations in Argentina are limited relative to the scale of the Group.

The net-debt-to-equity ratio at March 31, 2002, was 29.5% compared to 30.9% at December 31, 2001.
 
Catherine ENCK
Tél. : 33 (1) 47 44 37 76
  Consolidated accounts – TotalFinaElf
           
Thomas FELL
Tél. 33 (1) 47 44 47 51
   
   
Sophie LE CONG NEN-ALIOT   In millions of euros 1Q02 1Q01 %
Tél. : 33 (1) 47 44 48 00  
    Sales 23,784 27,322 – 13%
Patricia MARIE
Tél. : 33 (1) 47 44 45 90
  Operating income from business segments 2,432 3,748 – 35%
    excluding non-recurring items      
Christine MELVILLE
Tél. : 33 (1) 47 44 45 91
  Net operating income from business segments 1,356 2,299 – 41%
    excluding non-recurring items        
Christine de CHAMPEAUX
Tél. : 33 (1) 47 44 47 49
  Net income 1,419 2,206 – 36%
    excluding non-recurring items        
Thomas SAUNDERS
Tél. : 33 (1) 47 44 42 30
  Net income 1,429 2,206 – 35%
 
Laurence FRANCISCO   Earnings per share (euros) 2.12 3.12 – 32%
Tél. : 33 (1) 47 44 51 04   excluding non-recurring items        
 
Franklin BOITIER   Investments (1) 2,109 2,433 – 13%
Tél. : 33 (1) 47 44 59 81          

TOTAL FINA ELF S.A.
Capital 7 087 201 730 euros
  Divestments (2) 586 1,168 – 50%
542 051 180 R.C.S. Nanterre   based on selling price        
 
www.totalfinaelf.com   Cash flow from operating activities 2,458 4,572 – 46%
   
    (1) includes increases in long-term loans
    (2) includes repayments of long-term loans

2


 

           
    Impact of non-recurring items      
 
   
    in millions of euros   1Q02 1Q01
   
    Impact of non-recurring items on operating income  
    Impact of non-recurring items on net income      
    Gain on asset sales   143
    Toulouse-AZF plant impact   (102)
2, place de la Coupole   Restructuring charges and early retirement plans   (31)
La Défense 6
92 400 Courbevoie France
Fax : 33 (1) 47 44 68 21
  Total   10
   
Catherine ENCK
Tél. : 33 (1) 47 44 37 76
       
Thomas FELL   Number of shares        
Tél. 33 (1) 47 44 47 51        
   
Sophie LE CONG NEN-ALIOT
Tél. : 33 (1) 47 44 48 00
  Millions 1Q02 1Q01 %
   
Patricia MARIE
Tél. : 33 (1) 47 44 45 90
  Fully-diluted weighted-average shares 670.6 706.2 – 5%
   
Christine MELVILLE
Tél. : 33 (1) 47 44 45 91
       
 
Christine de CHAMPEAUX
Tél. : 33 (1) 47 44 47 49
  Oil market environment        
 
Thomas SAUNDERS
Tél. : 33 (1) 47 44 42 30
       
   
Laurence FRANCISCO     1Q02 1Q01 %
Tél. : 33 (1) 47 44 51 04  
    /$ 0.88 0.92 + 5% *
Franklin BOITIER          
Tél. : 33 (1) 47 44 59 81   Brent ($/b) 21.1 25.8 – 18%
 
TOTAL FINA ELF S.A.   European refining margins TRCV ($/t) 2.4 15.1 – 84%
Capital 7 087 201 730 euros
542 051 180 R.C.S. Nanterre
 
     
www.totalfinaelf.com   * change in the dollar versus the euro
 
    Upstream
 
    Operating income from the Upstream segment fell by 22% to 2,016 million euros in the first quarter 2002 from 2,573 million euros in the first quarter 2001, primarily as a result of the decline in hydrocarbon prices.
 
    Net operating income excluding non-recurring items from the Upstream segment fell by 25% to 1,066 million euros in the first quarter 2002.
 
    Hydrocarbon production rose by 7.1% to 2,401 thousand barrels of oil equivalent per day (kboe/d) in the first quarter 2002 from 2,242 kboe/d in the first quarter 2001. Excluding the decrease in production linked to OPEC quota reductions, Upstream production increased by 9.9%. Production growth was primarily due to a number of start-ups, the largest being Elgin-Franklin in the UK North Sea, Girassol in Angola, Huldra in Norway, Deir Ez Zor gas in Syria, and the Sincor upgrader in Venezuela.

3


 

     
    In Europe, during the first quarter 2002, production from the K1A gas field in the Dutch North Sea started in early March, and a rearrangement of interests in the fields within the Oseberg zone in the Norwegian North Sea allowed the company to have a 10% interest in all of the Oseberg zone fields.
 
    The tax changes proposed by the British government had no impact on the first quarter 2002 results. An evaluation of the impact of the proposed changes, if approved, is underway.
 
    In the CIS, TotalFinaElf signed an exploration and development agreement with the Russian company Yukos covering the Shatsky zone in the Black Sea.
 
2, place de la Coupole
La Défense 6
92 400 Courbevoie France
Fax : 33 (1) 47 44 68 21
  In the Middle East, the South Pars offshore gas and condensate field (Phases 2 and 3) in Iran began production in March. In Syria, the Dezgaz project, intended to commercialize the gas production from the Deir Ez Zor region, reached full capacity. In Oman, TotalFinaElf was awarded a 100% interest in the exploration Block 34.

In Asia, TotalFinaElf was awarded a 60% interest in Brunei’s offshore exploration Block J.
 
Catherine ENCK
Tél. : 33 (1) 47 44 37 76

Thomas FELL
Tél. 33 (1) 47 44 47 51

Sophie LE CONG NEN-ALIOT
Tél. : 33 (1) 47 44 48 00

Patricia MARIE
Tél. : 33 (1) 47 44 45 90
  In Africa, the highlight of the first quarter 2002 has been the rapid increase in production from the Girassol field on Block 17 offshore Angola. Launched in December 2001, production reached its projected plateau of 200 kb/d during the first quarter 2002. In Nigeria, the final investment decision was approved for the 4 th and 5 th natural gas liquefaction trains at the Bonny LNG plant.

In South America, the Kairi-2 appraisal well, offshore Trinidad, was drilled and successfully tested. In Venezuela, first production of synthetic crude from the Sincor upgrader began in March 2002.
           
Christine MELVILLE
Tél. : 33 (1) 47 44 45 91
         
   
Christine de CHAMPEAUX   Upstream – key figures 1Q02 1Q01 %
Tél. : 33 (1) 47 44 47 49  
         
Thomas SAUNDERS
Tél. : 33 (1) 47 44 42 30
  Production (kboe/d) 2,401 2,242 + 7%
 
Laurence FRANCISCO
Tél. : 33 (1) 47 44 51 04
  Liquids (kb/d) 1,558 1,477 + 5%
    Gas (Mcfd) 4,607 4,194 + 10%
Franklin BOITIER
Tél. : 33 (1) 47 44 59 81
  Operating income (M) 2,016 2,573 – 22%
    excluding non-recurring items        
TOTAL FINA ELF S.A.
Capital 7 087 201 730 euros
  Net operating income (M) 1,066 1,422 – 25%
542 051 180 R.C.S. Nanterre   excluding non-recurring items        
 
www.totalfinaelf.com   Investments (M) 1,643 1,838 – 11%
 
    Divestments (M) 223 152 + 47%
    based on selling price        
 
    Cash flow from operating activities (M) 1,692 2,115 – 20%
   

4


 

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

Operating income from the Downstream segment fell by 66% to 295 million euros in the first quarter 2002 from 856 million euros in the first quarter 2001. The decrease is due largely to the sharp decline in European refining margins and to a lesser extent to marketing margins. The severe downturn in the market environment had a strong negative impact on results which was partially offset by continued synergy and productivity gains.

The 64% decrease in net operating income excluding non-recurring items for the first quarter 2002 versus the same period last year reflects the decline in operating income.

Taking into account the poor market conditions in the first quarter 2002 and the program of refinery turn-arounds, refinery throughput declined by 4% to 2.39 Mb/d in the first quarter 2002 from 2.50 Mb/d in the first quarter 2001.
           
Catherine ENCK  
Tél. : 33 (1) 47 44 37 76   Downstream – key figures 1Q02 1Q01 %
   
Thomas FELL
Tél. 33 (1) 47 44 47 51
  Refinery throughput* (kb/d) 2,393 2,497 – 4%
 
Sophie LE CONG NEN-ALIOT   Operating income (M) 295 856 – 66%
Tél. : 33 (1) 47 44 48 00   excluding non-recurring items        
 
Patricia MARIE
Tél. : 33 (1) 47 44 45 90
  Net operating income (M) 250 697 – 64%
    excluding non-recurring items        
Christine MELVILLE
Tél. : 33 (1) 47 44 45 91
  Investments (M) 132 129 + 2%
 
Christine de CHAMPEAUX
Tél. : 33 (1) 47 44 47 49
  Divestments (M) 35 922 – 96%
    based on selling price        
Thomas SAUNDERS
Tél. : 33 (1) 47 44 42 30
  Cash flow from operating activities (M) 581 1,008 – 42%
   
Laurence FRANCISCO
Tél. : 33 (1) 47 44 51 04
  * includes share of Cepsa        
     
Franklin BOITIER
Tél. : 33 (1) 47 44 59 81

   
TOTAL FINA ELF S.A.
Capital 7 087 201 730 euros
542 051 180 R.C.S. Nanterre

www.totalfinaelf.com
  Chemicals

Sales for the Chemicals segment decreased by 10% to 4,748 million euros in the first quarter 2002 from 5,283 million euros in the first quarter 2001.

Operating income fell by 62% to 121 million euros in the first quarter 2002 from 319 million euros in the first quarter 2001. The decrease was driven primarily by the sharp fall in base chemical margins to historic lows. Intermediates & performance polymers as well as the Specialties resisted relatively well in a difficult environment.

Net operating income excluding non-recurring items declined to 40 million euros in the first quarter 2002, a 78% decrease from the same quarter last year.

5


 

           
   
    Chemicals – key figures (M) 1Q02 1Q01 %
   
    Sales 4,748 5,283 – 10%
 
    Operating income 121 319 – 62%
    excluding non-recurring items        
 
    Net operating income 40 180 – 78%
    excluding non-recurring items        
 
    Investments 256 400 – 36%
 
    Divestments 32 78 – 59%
    based on selling price        
2, place de la Coupole  
La Défense 6
92 400 Courbevoie France
  Cash flow from operating activities (10) 367
Fax : 33 (1) 47 44 68 21  
     
Catherine ENCK
Tél. : 33 (1) 47 44 37 76
  Summary and outlook
 
Thomas FELL
Tél. 33 (1) 47 44 47 51

Sophie LE CONG NEN-ALIOT
Tél. : 33 (1) 47 44 48 00

Patricia MARIE
Tél. : 33 (1) 47 44 45 90

Christine MELVILLE
Tél. : 33 (1) 47 44 45 91

Christine de CHAMPEAUX
Tél. : 33 (1) 47 44 47 49

Thomas SAUNDERS
Tél. : 33 (1) 47 44 42 30

Laurence FRANCISCO
Tél. : 33 (1) 47 44 51 04

Franklin BOITIER
Tél. : 33 (1) 47 44 59 81
  Investments reflected the announced strategy of the company, with 78% of first quarter investments dedicated to the Upstream segment.

Divestments in the first quarter 2002, based on selling price, were 586 million euros, being comprised notably of sales of financial participations and shares of Sanofi- Synthelabo.

TotalFinaElf bought back 2.78 million of its own shares for 0.44 billion euros over the first four months of 2002.

Realization of growth and synergies/productivity programs progressed satisfactorily and in line with announced objectives. Good performance by the Upstream segment allows confirmation of the full-year objective to increase hydrocarbon production by 10% in 2002 versus 2001.

Since the beginning of the second quarter 2002, the oil market environment has remained mixed. Refining and petrochemical margins are still at very low levels, while oil prices have increased.
    • • •
 
TOTAL FINA ELF S.A.
Capital 7 087 201 730 euros
542 051 180 R.C.S. Nanterre

www.totalfinaelf.com
  To listen to a replay (available 2 days) of today’s conference call held at 5:00 p.m (Paris time) by Robert Castaigne, CFO of TotalFinaElf, please dial + 44 (0) 208 288 44 59 (access code 616 162) from Europe or + 1 703 736 7336 (access code 616 162) from the US.
    The first quarter 2001 financial results released on May 17, 2001, are based on internal reporting. The interim financial statements included in this document for the first quarter 2001 and 2002 are unaudited. This document may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to the financial condition, results of operations, business, strategy and plans of the TotalFinaElf Group. 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. The financial information contained in this document has been prepared in accordance with French GAAP, and certain elements would differ materially upon reconciliation to US GAAP. The TotalFinaElf Group does not assume any obligation to update publicly any forward-looking statement, whether as a result of new information, future events or otherwise. Further information on factors which could affect the company’s financial results is provided in documents filed by the Group and its affiliates with the French Commission des Opérations de Bourse and the US Securities and Exchange Commission

6


 

     
  OPERATING INFORMATION BY SEGMENT
FIRST QUARTER 2002
2, place de la Coupole
La Défense 6
92 400 Courbevoie France
Fax : 33 (1) 47 44 68 21

Catherine ENCK
Tél. : 33 (1) 47 44 37 76

Thomas FELL
Tél. 33 (1) 47 44 47 51

Sophie LE CONG NEN-ALIOT
Tél. : 33 (1) 47 44 48 00

Patricia MARIE
Tél. : 33 (1) 47 44 45 90

Christine MELVILLE
Tél. : 33 (1) 47 44 45 91

Christine de CHAMPEAUX
Tél. : 33 (1) 47 44 47 49

Thomas SAUNDERS
Tél. : 33 (1) 47 44 42 30

Laurence FRANCISCO
Tél. : 33 (1) 47 44 51 04

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


TOTAL FINA ELF S.A.
Capital 7 087 201 730 euros
542 051 180 R.C.S. Nanterre


www.totalfinaelf.com
 

7


 

           
    Upstream      
 
    Combined liquids and gas production by region        
   
    in kboe/d 1Q02 1Q01 %
   
    Europe 888 777 + 14%
 
    Africa 682 634 + 8%
 
    North America 42 47 – 11%
 
2, place de la Coupole   Far East 229 226 + 1%
La Défense 6
92 400 Courbevoie France
 
Fax : 33 (1) 47 44 68 21   Middle East 411 413
 
Catherine ENCK
Tél. : 33 (1) 47 44 37 76
  South America 143 138 + 4%
 
Thomas FELL
Tél. 33 (1) 47 44 47 51
  Rest of world 6 7 – 14%
 
Sophie LE CONG NEN-ALIOT
Tél. : 33 (1) 47 44 48 00
  Total production 2,401 2,242 + 7%
   
Patricia MARIE
Tél. : 33 (1) 47 44 45 90
         
    Liquids production by region      
   
Christine MELVILLE
Tél. : 33 (1) 47 44 45 91
  in kb/d 1Q02 1Q01 %
   
Christine de CHAMPEAUX
Tél. : 33 (1) 47 44 47 49
  Europe 455 407 + 12%
 
Thomas SAUNDERS   Africa 606 564 + 7%
Tél. : 33 (1) 47 44 42 30          
    North America 5 7 – 29%
Laurence FRANCISCO          
Tél. : 33 (1) 47 44 51 04   Far East 25 27 – 7%
 
Franklin BOITIER
Tél. : 33 (1) 47 44 59 81
  Middle East 366 372 – 2%
   
TOTAL FINA ELF S.A.
Capital 7 087 201 730 euros
  South America 95 93 + 2%
542 051 180 R.C.S. Nanterre

www.totalfinaelf.com
  Rest of world 6 7 – 14%
 
    Total production 1,558 1,477 + 5%
   

8


 

           
    Gas production by region      
   
    in Mcfd 1Q02 1Q01 %
   
    Europe 2,365 2,000 + 18%
 
    Africa 399 368 + 8%
 
    North America 194 218 – 11%
 
    Far East 1,159 1,139 + 2%
 
    Middle East 227 224 + 1%
 
2, place de la Coupole
La Défense 6
92 400 Courbevoie France
  South America 263 245 + 7%
Fax : 33 (1) 47 44 68 21   Rest of world
 
Catherine ENCK
Tél. : 33 (1) 47 44 37 76
  Total production 4,607 4,194 + 10%
   
Thomas FELL
Tél. 33 (1) 47 44 47 51

Sophie LE CONG NEN-ALIOT
Tél. : 33 (1) 47 44 48 00
         
    Downstream      
Patricia MARIE
Tél. : 33 (1) 47 44 45 90
  Refinery throughput by region      
   
Christine MELVILLE
Tél. : 33 (1) 47 44 45 91
  in kb/d 1Q02 1Q01 %
   
Christine de CHAMPEAUX
Tél. : 33 (1) 47 44 47 49
  France 904 1,041 – 13%
 
Thomas SAUNDERS
Tél. : 33 (1) 47 44 42 30
  Rest of Europe 1,198 1,166 + 3%
 
Laurence FRANCISCO
Tél. : 33 (1) 47 44 51 04
  Rest of world 291 290
 
Franklin BOITIER
Tél. : 33 (1) 47 44 59 81
  Total refinery throughput* 2,393 2,497 – 4%
   
    * includes share of Cepsa      
     
TOTAL FINA ELF S.A.
Capital 7 087 201 730 euros
542 051 180 R.C.S. Nanterre

www.totalfinaelf.com
  Chemicals

As of January 1, 2002, results of the Chlorochemicals activities have been moved from the Intermediates & Performance Polymers sector to the Petrochemicals & Plastics sector, which already includes the chlorovinyl chain. To reflect the broadening of this sector’s activity, the name has been changed to “Base chemicals & polymers”. The data presented in the table below has been restated for the year 2001 to take into account this change.

9


 

           
   
    Chemicals – key figures (B) 1Q02 1Q01 %
   
    Chemicals Sales 4.75 5.28 – 10%
 
    Base chemicals & polymers 1.79 2.16 – 17%
    Intermediates & performance polymers 0.97 1.16 – 16%
    Specialties 1.97 1.96 + 1%
    Corporate - Chemicals 0.02 0
 
    Chemicals Operating income 0.12 0.32 – 62%
 
2, place de la Coupole   Base chemicals & polymers (0.07) 0.09
La Défense 6   Intermediates & performance polymers 0.09 0.11 – 18%
92 400 Courbevoie France   Specialties 0.13 0.13
Fax : 33 (1) 47 44 68 21   Corporate - Chemicals (0.03) (0.01)
   
Catherine ENCK
Tél. : 33 (1) 47 44 37 76
         
     
Thomas FELL
Tél. 33 (1) 47 44 47 51

Sophie LE CONG NEN-ALIOT
Tél. : 33 (1) 47 44 48 00
  The 2001 data for the Chemicals, reflecting the new sector allocation for the Chlorochemicals, is presented by quarter in the table below.
               
   
Patricia MARIE
Tél. : 33 (1) 47 44 45 90
  in billions of euros 1Q01 2Q01 3Q01 4Q01 2001
   
Christine MELVILLE
Tél. : 33 (1) 47 44 45 91
  Chemical Sales 5.28 5.21 4.86 4.21 19.56
 
Christine de CHAMPEAUX   Base chemicals & polymers 2.16 1.97 1.90 1.54 7.57
Tél. : 33 (1) 47 44 47 49   Intermediates & performance polymers 1.16 1.10 1.00 0.91 4.17
    Specialties 1.96 2.12 1.94 1.75 7.77
Thomas SAUNDERS   Corporate - Chemicals 0 0.02 0.02 0.01 0.05
Tél. : 33 (1) 47 44 42 30              
 
Laurence FRANCISCO
Tél. : 33 (1) 47 44 51 04
  Chemicals Operating income 0.32 0.29 0.22 0.26 1.09
 
Franklin BOITIER
Tél. : 33 (1) 47 44 59 81
  Base chemicals & polymers 0.09 0.03 0.06 0.07 0.25
    Intermediates & performance polymers 0.11 0.12 0.06 0.04 0.33
TOTAL FINA ELF S.A.   Specialties 0.13 0.16 0.12 0.09 0.50
Capital 7 087 201 730 euros   Corporate - Chemicals (0.01) (0.02) (0.02) 0.06 0.01
542 051 180 R.C.S. Nanterre  
 
www.totalfinaelf.com  

10 EX-99.4 6 y00416exv99w4.htm TOTALFINAELF'S SALES exv99w4

 

Exhibit 99.4

TOTALFINAELF’s SALES IN THE FIRST QUARTER OF 2002

1.     CONSOLIDATED SALES

                   

      2002   2001
      TOTALFINAELF   TOTALFINAELF
      (million euros)   (million euros)

UPSTREAM
               
 
First quarter
    6,749       7,337  

DOWNSTREAM
               
 
First quarter
    15,268       18,515  

CHEMICALS
               
 
First quarter
    4,823       5,378  

HOLDING
               
 
First quarter
    28       19  

Consolidation eliminations of internal sales
               
 
First quarter
    – 3,084       – 3,927  

CONSOLIDATED SALES
               
 
First quarter
    23,784       27,322  

The average Brent oil price fell by 18% to $21.1/b in the first quarter 2002 from $25.8/b in the first quarter 2001. European refining margins fell to one–sixth of the year–ago level to reach $2.4/t in the first quarter 2002, and petrochemical margins decreased to historic lows. Partially offsetting these impacts was a 5% increase in the dollar relative to the euro, with the average exchange rate settling to $0.88 per euro in the first quarter 2002.


 

2.    PARENT COMPANY’s SALES

                   

      2002   2001
      (million euros)   (million euros)

OIL & GAS SALES
               
 
First quarter
    935       1,112  

SERVICES PERFORMED
               
 
First quarter
    212       198  

GLOBAL AMOUNT
               
 
First quarter
    1,147       1,310  

 
 
****
EX-99.5 7 y00416exv99w5.htm PRESS RELEASE- RUSSIA exv99w5
 

Exhibit 99.5

     
 
   
   

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

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

Russia: TotalFinaElf signs an Agreement with
Anglo Siberian Oil Company to enter into the Vankor Permit


Thomas FELL
Tel. : 33 (1) 47 44 47 57

Sophie LE CONG NEN-ALIOT
Tel. : 33 (1) 47 44 48 00

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

Christine MELVILLE
Tel. : 33 (1) 47 44 45 91

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

Thomas SAUNDERS
Tel. : 33 (1) 47 44 42 30

Laurence FRANCISCO
Tel. : 33 (1) 47 44 51 04

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

TOTAL FINA ELF S.A.
Capital 7 087 201 730 euros
542 051 180 R.C.S. Nanterre

www.totalfinaelf.com
Paris, May 22, 2002 — TotalFinaElf has signed an agreement with Anglo Siberian Oil Company to enter into the Vankor permit in Siberia, with an option to take an interest in the contiguous North Vankor permit.

Under the terms of this agreement, for which the coming into force is subject to the satisfaction of certain preconditions, TotalFinaElf will acquire 52% of the 59% interest previously held by Anglo Siberian Oil Company in the Vankor permit and takeover as operator.

TotalFinaElf has also an option to take a 60% interest and become operator of the North Vankor permit, currently 100%-owned by Anglo Siberian Oil Company.

The Vankor field is located in the Krasnoyarsk province of northern Siberia and covers area of 1,625 square kilometres. The adjacent North Vankor permit is located in the Tamyr province and covers 1,163 square kilometres.

This agreement strengthens the presence of TotalFinaElf in Russia, where the Group is already developing the Khariaga field in the Timan Pechora basin, and where it will also undertake exploration activity in the Black Sea.
    ___________
EX-99.6 8 y00416exv99w6.htm PRESS RELEASE - SELYAK exv99w6
 

Exhibit 99.6

     
 
   
   

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

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

TotalFinaElf acquires 100% ownership
of its Turkish marketing subsidiary Selyak


Thomas FELL
Tel. : 33 (1) 47 44 47 57

Sophie LE CONG NEN-ALIOT
Tel. : 33 (1) 47 44 48 00

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

Christine MELVILLE
Tel. : 33 (1) 47 44 45 91

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

Thomas SAUNDERS
Tel. : 33 (1) 47 44 42 30

Laurence FRANCISCO
Tel. : 33 (1) 47 44 51 04

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

TOTAL FINA ELF S.A.
Capital 7 087 201 730 euros
542 051 180 R.C.S. Nanterre

www.totalfinaelf.com
Paris, May 24, 2002 — TotalFinaElf announces that it has acquired 100% ownership of Selyak, a Turkish petroleum products marketing company, following the purchase of a 32% stake held by the Turkish Group Oyak and its subsidiary Mais.

This transaction, which remains subject to the approval of the Turkish authorities, will enable TotalFinaElf to proceed with the merger of the Group’s two 100%-owned petroleum product marketing subsidiaries, Total Oil Turkiye and Selyak. In this way TotalFinaElf will control of a network of 500 service stations, representing 8% of the gasoil and lubricants market.

In addition, TotalFinaElf is active in the liquefied petroleum gas market through its wholly-owned subsidiary Tüpgaz, which has a market share of 6%.

The acquisition is in line with TotalFinaElf’s strategy of developing its refining and marketing activities in the Mediterranean basin.
    ___________
EX-99.7 9 y00416exv99w7.htm PRESS RELEASE - QATAR exv99w7
 

Exhibit 99.7

     
 
   
   

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

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

TotalFinaElf Raises Interest in Qatar’s Al Khalij Field to 100%

Thomas FELL
Tel. : 33 (1) 47 44 47 57

Sophie LE CONG NEN-ALIOT
Tel. : 33 (1) 47 44 48 00

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

Christine MELVILLE
Tel. : 33 (1) 47 44 45 91

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

Thomas SAUNDERS
Tel. : 33 (1) 47 44 42 30

Laurence FRANCISCO
Tel. : 33 (1) 47 44 51 04

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

TOTAL FINA ELF S.A.
Capital 7 087 201 730 euros
542 051 180 R.C.S. Nanterre

www.totalfinaelf.com
Paris — May 29, 2002 — TotalFinaElf has signed an agreement to purchase ENI’s 45% interest in the Al Khalij oil field offshore Qatar. Under the terms of the agreement, the Group, as operator of the field, will increase its interest from 55% to 100%.

The Al Khalij field was brought on stream in March 1997. Its production capacity will be increased to 60,000 barrels per day upon completion of the drilling campaign currently underway.

This acquisition, which has been approved by Qatar authorities, further strengthens TotalFinaElf’s position in Qatar, where the Group is a major stakeholder in the Dolphin gas project aimed at the supply of gas to the United Arab Emirates from the North Field. It is also a key partner in Qatargas (LNG production) and the petrochemicals industry.
    ___________
EX-99.8 10 y00416exv99w8.htm PRESS RELEASE- ATOFINA exv99w8
 

Exhibit 99.8

     
 
   
FOR IMMEDIATE RELEASE
 
 
TOTAL FINA ELF S.A.
2, place de la Coupole
La Défense 6
92 400 Courbevoie France
Fax : 33 (1) 47 44 68 21
 

Atofina Inaugurates a New Polypropylene Unit in Feluy, Belgium

Sophie LE CONG NEN-ALIOT
Tel. : 33 (1) 47 44 48 00

Capital 7 087 201 730 euros
542 051 180 R.C.S. Nanterre

www.totalfinaelf.com

ATOFINA
4/8, cours Michelet
92800 Puteaux - France
Fax : 33 (1) 49 00 80 50

Marie-Pierre GALHAUT
Tel. : 33 (6) 20 19 24 30

Gilles GALINIER
Tel. : 33 (1) 49 00 70 07

Patrick HAEMERS
Tel. 32 475 66 07 86

www.atofina.com
Paris — May 31, 2002 — Atofina, TotalFinaElf’s chemicals business, inaugurated a new polypropylene production unit in Feluy, Belgium on Friday, May 31. With a production capacity of 380,000 metric tons a year, the new unit is the biggest in the world to date. It takes the facility’s total polypropylene production capacity to 800,000 metric tons a year, consolidating Atofina’s leading position in the European petrochemical industry. TotalFinaElf’s petrochemical strategy is to concentrate growth at large facilities to improve their competitiveness.

Commissioned in March 2002, the unit enables the range of products manufactured onsite to be extended and their properties to be improved, particularly fluidity, rigidity and impact resistance. It has also been designed to deploy the innovative metallocene catalyst technology developed by the Atofina Research laboratories near the plant.

Polypropylene has a broad array of applications and is used in particular in the manufacture of food-grade films, fibers for disposable diapers and carpets, yogurt containers, plastic plates and cups, garden accessories and toys. It is also used extensively in the automotive industry, particularly for bumpers and dashboards.

Atofina Feluy has 525 employees and has operated at the Feluy complex since 1970. It produces polyethylene, polypropylene and polystyrene, with a total capacity of 1.1 million metric tons a year. It is supplied with raw materials by pipeline from TotalFinaElf plants in Antwerp.
    ___________
EX-99.9 11 y00416exv99w9.htm PRESS RELEASE - ALASKA exv99w9
 

Exhibit 99.9

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

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


Alaska: TotalFinaElf awarded 20 exploration blocks

Thomas FELL
Tel. : 33 (1) 47 44 47 57

Sophie LE CONG NEN-ALIOT
Tel. : 33 (1) 47 44 48 00

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

Christine MELVILLE
Tel. : 33 (1) 47 44 45 91

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

Thomas SAUNDERS
Tel. : 33 (1) 47 44 42 30

Laurence FRANCISCO
Tel. : 33 (1) 47 44 51 04

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

TOTAL FINA ELF S.A.
Capital 7 087 201 730 euros
542 051 180 R.C.S. Nanterre

www.totalfinaelf.com
Paris, June 5, 2002 — TotalFinaElf, through its subsidiary TotalFinaElf E&P USA, Inc., was awarded 20 blocks in the National Petroleum Reserve Alaska oil and gas lease sale.

The blocks cover an area of 920 square kilometres and are located onshore near several recent discoveries.

Over the past years, TotalFinaElf has developed its knowledge of this oil area, notably from seismic work carried out to identify attractive prospects.
    ****
EX-99.10 12 y00416exv99w10.htm PRESS RELEASE - MALAYSIA exv99w10
 

Exhibit 99.10

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

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


TotalFinaElf enters into an exploration permit offshore Malaysia

Thomas FELL
Tel. : 33 (1) 47 44 47 57

Sophie LE CONG NEN-ALIOT
Tel. : 33 (1) 47 44 48 00

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

Christine MELVILLE
Tel. : 33 (1) 47 44 45 91

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

Thomas SAUNDERS
Tel. : 33 (1) 47 44 42 30

Laurence FRANCISCO
Tel. : 33 (1) 47 44 51 04

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

TOTAL FINA ELF S.A.
Capital 7 087 201 730 euros
542 051 180 R.C.S. Nanterre

www.totalfinaelf.com
Paris — June 6, 2002 — TotalFinaElf announces that it has signed an agreement with Amerada Hess to acquire a 42.5% interest in Deepwater Block F, offshore Sarawak, in Malaysia. Amerada Hess, the operator, will retain a 42.5% stake, while the remaining 15 % continues to be held by Petronas Carigali, the exploration and production subsidiary of Malaysia’s national petroleum corporation Petronas.

Block F covers an area of 9,720 square kilometres and is located around 350 kilometres north west of Bintulu in water depths of between 200 and 1,200 metres. The three partners plan to carry out a 3D seismic campaign in 2002 before drilling an exploration well.

This new agreement, which marks the re-entry of TotalFinaElf into Malaysia’s oil and gas exploration sector, is in line with the Group’s strategy of diversifying its activities in exploration and production activities worldwide and strengthening its presence in South-East Asia.
    ___________
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