UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
OF THE SECURITIES EXCHANGE ACT OF 1934
April 30, 2020
Commission File Number 001-10888
TOTAL S.A.
(Translation of registrants 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 ☒ Form 40-F ☐
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 registrants home country), or under the rules of the home country exchange on which the registrants 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 registrants 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.
TOTAL S.A. is providing on this Form 6-K a description of certain recent developments relating to its business.
Exhibit 99.1 Suriname: Total Announces a Second Discovery in Block 58 (April 2, 2020)
Exhibit 99.2 Total Keeps the Pace of Divestments with Asset Sales in Brunei, Sierra Leone and Liberia (April 7, 2020)
Exhibit 99.3 Clean Marine Fuels: Total charters its first LNG-powered Very Large Crude Carriers (April 7, 2020)
Exhibit 99.4 France: Total Wins Over 135 MW of Projects in the Latest National Solar Tender (April 22, 2020)
Exhibit 99.5 Total Acquires Tullow Entire Interests in the Uganda Lake Albert Project (April 23, 2020)
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: April 30, 2020 | By: | /s/ ANTOINE LARENAUDIE | ||||
Name: | Antoine LARENAUDIE | |||||
Title: | Group Treasurer |
EXHIBIT 99.1
Press Release
Suriname: Total Announces a Second Discovery in Block 58
Paris, April 2, 2020 Total and Apache Corporation have made a second significant discovery with the Sapakara West-1 well on Block 58 offshore Suriname. It follows the previous discovery at Maka Central-1.
The well was drilled by a water depth of about 1,000 meters and encountered 79 meters net pay of high-quality light oil and gas condensate, in multiple stacked and good quality reservoirs in Upper Cretaceous Campanian and Santonian formations. Further testing will be carried out to appraise the resources and productivity of the reservoir.
We are very pleased to announce this second discovery, following from the discovery of oil at Maka Central-1. The results are once again very encouraging and confirm our exploration strategy in this region, said Kevin McLachlan, Senior Vice President Exploration at Total.
The Sapakara West-1 exploration well was drilled by Apache as operator with 50% working interest and with Total as the JV partner with 50% working interest. The next exploration well will be drilled on the Kwaskwasi prospect, with a fourth exploration well to be planned back-to-back on the Keskesi prospect. Total will become operator of the Block after the drilling of the 4th well.
About Total
Total is a major energy player that produces and markets fuels, natural gas and low-carbon electricity. Our 100,000 employees are committed to better energy that is safer, more affordable, cleaner and accessible to as many people as possible. Active in more than 130 countries, our ambition is to become the responsible energy major.
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Total Contacts
Media Relations: +33 1 47 44 46 99 | presse@total.com | @TotalPress
Investor Relations: +44 (0)207 719 7962 | ir@total.com
Cautionary Note
This press release, from which no legal consequences may be drawn, is for information purposes only. The entities in which TOTAL S.A. directly or indirectly owns investments are separate legal entities. TOTAL S.A. has no liability for their acts or omissions. In this document, the terms Total, Total Group and Group are sometimes used for convenience. Likewise, the words we, us and our may also be used to refer to subsidiaries in general or to those who work for them.
This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TOTAL S.A. nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise.
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 SECs 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 TOTAL S.A. Tour Coupole 2, place Jean Millier Arche Nord Coupole/Regnault 92078 Paris La Défense Cedex France, or at our website: www.total.com. You can also obtain this form from the SEC by calling 1-800-SEC-0330 or on the SECs website: www.sec.gov.
EXHIBIT 99.2
Press Release
Total Keeps the Pace of Divestments with
Asset Sales in Brunei, Sierra Leone and Liberia
Paris, April 7 2020 In line with its strategy of actively managing its asset portfolio and its objective to divest 5 B$ on years 2019-2020, Total is pursuing the divestments of several non-core assets in both Exploration-Production (Brunei) and Marketing & Services (Sierra Leone and Liberia). These divestments represent a global value of more than 400 million US Dollars.
Brunei - Sale of Interest in Offshore Block
Following the approval of the competent authorities, Total has closed the sale to Shell1 of its wholly owned subsidiary Total E&P Deep Offshore Borneo BV, which holds an 86.95% interest in Block CA1. Total was the operator of the block, alongside partners Murphy Oil (8.05%) and Petronas (5%) and the production of this block was 5 kboe/d net to Total in 2019.
Sierra Leone and Liberia - Sale of Marketing & Services Businesses
Total has signed an agreement to sell its marketing and services businesses in Liberia and Sierra Leone to Conex Oil & Gas Holdings Ltd., a regional player in petroleum products import, distribution and supply chain management in West Africa. It consists of a network of 63 service stations, general trade fuel sales and petroleum products import and storage operations.
The sale of these two affiliates is expected to be completed in the second quarter of 2020.
These sales will contribute to Totals ongoing divestment program and demonstrate our ability to relentlessly highgrade our portfolio commented Jean-Pierre Sbraire, Chief Financial Officer of Total. In the current context of low oil prices, these transactions support the action plan announced to weather the crisis..
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About Total
Total is a major energy player, which produces and markets fuels, natural gas and low-carbon electricity. Our 100,000 employees are committed to better energy that is safer, more affordable, cleaner and accessible to as many people as possible. Active in more than 130 countries, our ambition is to become the responsible energy major.
1 | Dordtsche Petroleum Maatschappij BV |
Total Contacts
Media Relations: +33 1 47 44 46 99 | presse@total.com | @TotalPress
Investor Relations: +44 (0)207 719 7962 l ir@total.com
Cautionary note
This press release, from which no legal consequences may be drawn, is for information purposes only. The entities in which TOTAL S.A. directly or indirectly owns investments are separate legal entities. TOTAL S.A. has no liability for their acts or omissions. In this document, the terms Total, Total Group and Group are sometimes used for convenience. Likewise, the words we, us and our may also be used to refer to subsidiaries in general or to those who work for them.
This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TOTAL S.A. nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise.
EXHIBIT 99.3
Press Release
Clean Marine Fuels:
Total charters its first LNG-powered Very Large Crude Carriers
Paris, April 07, 2020 Total signed a pioneering agreement to charter its first two LNG-powered VLCCs (Very Large Crude Carrier). The two vessels, which are able to carry about 300,000 tons of crude oil each, will be delivered in 2022 and will join the time-chartered fleet of Total. These VLCCs will be chartered to Malaysian shipowner AET.
The vessels have been designed with LNG propulsion to benefit from reduced Greenhouse Gas emissions and with the latest technologies to further lower their consumption.
LNG is the best and immediately available solution to reduce the environmental footprint of shipping, highlights Luc Gillet, Senior Vice-President Shipping at Total. The use of LNG to fuel our chartered vessels is the illustration of our determination to reduce the carbon footprint of our activities. With this decision, we reaffirm today our positive contribution to a sustainable shipping industry and our commitment to extend the use of LNG as a clean marine fuel.
The supply of LNG for these two LNG-powered VLCCs will be provided by Total Marine Fuels Global Solutions, Totals dedicated business unit in charge of worldwide bunkering activities.
LNG as a marine fuel, the best and immediately available solution to reduce the environmental footprint of maritime transport
A true technological breakthrough in the service of environmental protection, LNG is now the best available and technologically proven solution to significantly reduce the environmental footprint of maritime transport. Compared to ships currently powered by fuel oil, its use results in a reduction of:
| 99% of sulphur oxide emissions; |
| 99% of fine particles emissions; |
| Up to 85% of nitrogen oxide emissions; |
| About 20% of greenhouse gases emissions. |
Total, 2nd Largest Private Global LNG Player
Total is the second-largest private global LNG player, with an overall portfolio of around 50 Mt/y by 2025 and a worldwide market share of 10%. With over 34 Mt of LNG managed in 2019, the Group has solid and diversified positions across the LNG value chain. Through its stakes in liquefaction plants located in Qatar, Nigeria, Russia, Norway, Oman, Egypt, the United Arab Emirates, the United States, Australia or Angola, the Group sells LNG in all markets.
About Total
Total is a major energy player, which produces and markets fuels, natural gas and low-carbon electricity. Our 100,000 employees are committed to better energy that is safer, more affordable, cleaner and accessible to as many people as possible. Active in more than 130 countries, our ambition is to become the responsible energy major.
About Total Marine Fuels Global Solutions:
Total Marine Fuels Global Solutions is Totals dedicated business unit in charge of worldwide bunkering activities. Total Marine Fuels Global Solutions is the single point of contact for a full spectrum of solutions with innovative and efficient bunkering services.
www.marinefuels.total.com.
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Total Contacts
Media Relations: +33 1 47 44 46 99 | presse@total.com | @TotalPress
Investor Relations: +44 (0)207 719 7962 | ir@total.com
Cautionary note
This press release, from which no legal consequences may be drawn, is for information purposes only. The entities in which TOTAL S.A. directly or indirectly owns investments are separate legal entities. TOTAL S.A. has no liability for their acts or omissions. In this document, the terms Total, Total Group and Group are sometimes used for convenience. Likewise, the words we, us and our may also be used to refer to subsidiaries in general or to those who work for them.
This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TOTAL S.A. nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise.
EXHIBIT 99.4
Press Release
France: Total Wins Over 135 MW of Projects in the Latest National Solar Tender
Paris, April 22, 2020 Total, through Total Quadran, a wholly-owned affiliate dedicated to developing and producing renewable energy in France, was awarded with 131 megawatt-peak (MWp) of solar projects or 20% of the total up for the seventh round of the CRE 4 (French Energy Regulatory Commission) tender for ground-mounted solar parks, as well as 5.6 MWp of solar in the French Overseas departments and collectivities (ZNI1).
More than half the capacities awarded fall under Totals program to solarize its industrial facilities and reuse of industrial brownfield sites, including:
| Totals future largest ground-mounted solar plant in France: the 50 MWp solar plant in Valenciennes is the largest project awarded in the call for tenders and Total Quadrans biggest solar plant to date. It will be installed on Totals former refinery site that has been redeveloped by RETIA2. The solar plant will supply green electricity to nearly 32,000 people when it comes on stream in 2022. |
| the largest photovoltaic power plant of the Greater Paris Region: located near the Grandpuits refinery, the 25 MWp solar plant will be the largest in the Greater Paris Region. It will generate enough renewable electricity to cover the needs of nearly 17,000 people. The plant is scheduled to come on stream by 2022. |
The projects of Lavéra (3 MWp), located in Bouches-du-Rhône, Serpaize (5 MWp) and Brignoud (4 MWp), both in Isère, all located on industrial brownfield sites were also included in the winning CRE 4.7 tender.
Total Quadran is proud to rank among Frances renewable energy leaders. The results of this call for tenders illustrate our ability to put together solid, competitive bids in an increasingly competitive environment, said Thierry Muller, General Manager of Total Quadran. Totals program to solarize industrial facilities by enhancing brownfield sites is a key factor in this success which we intend to carry on.
1 | Zones Non Interconnectées au réseau métropolitain intercontinental Renewable energy in Frances overseas departments and territories |
2 | Réhabilitation Environnementale de Terrains Industriels Anciens : an affiliate specialized in cleanup and reclamation operations |
Total and Low-Carbon Electricity
As part of its ambition to become the responsible energy major, Total is building a portfolio of low-carbon electricity operations, with the objective of seeing them account for 15 to 20% of its sales mix by 2040. Today, Totals gross low-carbon power generation capacity is close to 7 gigawatts, of which 3 gigawatts from renewable energy sources.
With over 6 GW of solar projects announced since the beginning of 2020, the Group is well on track to reach its objective of 25 GW of installed power generation capacity from renewable sources by 2025.
About Total Quadran
Total Quadran, a pioneer of renewable energies in France, develops, builds and operates renewable electricity generation resources (wind, photovoltaic, hydro and biogas). Total Quadran operates over 300 renewable energy plants in France totaling nearly 1000 MW, generating 1,765 GWh of renewable electricity per year. This is the equivalent of the annual consumption of nearly 1 million people and annual savings of nearly 560,000 tons of CO2 emissions.
About Total
Total is a major energy player that produces and markets fuels, natural gas and low-carbon electricity. Our 100,000 employees are committed to better energy that is safer, more affordable, cleaner and accessible to as many people as possible. Active in more than 130 countries, our ambition is to become the responsible energy major.
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Total Contacts
Media Relations : +33 1 47 44 46 99 | presse@total.com | @TotalPress
Investor Relations : +44 (0)207 719 7962 | ir@total.com
Total Quadran Contacts
Communications : +33 4 67 32 63 35 | elodie.billerey@total-quadran.com
Cautionary Note
This press release, from which no legal consequences may be drawn, is for information purposes only. The entities in which TOTAL S.A. directly or indirectly owns investments are separate legal entities. TOTAL S.A. has no liability for their acts or omissions. In this document, the terms Total, Total Group and Group are sometimes used for convenience. Likewise, the words we, us and our may also be used to refer to subsidiaries in general or to those who work for them.
This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TOTAL S.A. nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise.
EXHIBIT 99.5
Press Release
Total Acquires Tullow Entire Interests
in the Uganda Lake Albert Project
Paris, April 23, 2020 Total and Tullow have entered into an Agreement, through which Total shall acquire Tullows entire interests in Uganda Lake Albert development project including the East African Crude Oil Pipeline.
The overall consideration paid by Total to Tullow will be $575M, with an initial payment of $500M at closing and $75M when the partners take the Final Investment Decision to launch the project. In addition, conditional payments will be made to Tullow linked to production and oil price, which will be triggered when Brent prices are above $62/bbl. The terms of the transaction have been discussed with the relevant Ugandan Government and Tax Authorities and agreement in principle has been reached on the tax treatment of the transaction.
Under the terms of the deal, Total will acquire all of Tullows existing 33.3334% stake in each of the Lake Albert project licenses EA1, EA1A, EA2 and EA3A and the proposed East African Crude Oil Pipeline (EACOP) System. The transaction is subject to the approval of Tullows shareholders, to customary regulatory and government approvals and to CNOOCs right to exercise pre-emption on 50% of the transaction.
We are pleased to announce that a new agreement has been reached with Tullow to acquire their entire interests in the Lake Albert development project for less than 2$/bbl in line with our strategy of acquiring long-term resources at low cost, and that we have an agreement with the Uganda government on the fiscal framework, said Patrick Pouyanné, Total Chairman and CEO. This acquisition will enable us, together with our partner CNOOC, to now move the project forward toward FID, driving costs down to deliver a robust long-term project.
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About Total
Total is a major energy player that produces and markets fuels, natural gas and low-carbon electricity. Our 100,000 employees are committed to better energy that is safer, more affordable, cleaner and accessible to as many people as possible. Active in more than 130 countries, our ambition is to become the responsible energy major.
Total Contacts
Media Relations: +33 1 47 44 46 99 | presse@total.com | @TotalPress
Investor Relations: +44 (0)207 719 7962 | ir@total.com
Cautionary Note
This press release, from which no legal consequences may be drawn, is for information purposes only. The entities in which TOTAL S.A. directly or indirectly owns investments are separate legal entities. TOTAL S.A. has no liability for their acts or omissions. In this document, the terms Total, Total Group and Group are sometimes used for convenience. Likewise, the words we, us and our may also be used to refer to subsidiaries in general or to those who work for them. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TOTAL S.A. nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise.