total in angola -...

Total in AngolaPhili Ch lPhilippe ChalonGeneral Manager Total E&P Angola

Total E&P in Angola (TEPA)

Angola Brief

Strategy Focus

Operated Assets

Assets operated by third parties

Oil Contracts

Risk Management

Investor Relations – Field Trip Pau - Angola - www.total.com – 3C31681

Angola

18 million inhabitants in 1 250 000 km2 :18 million inhabitants in 1,250,000 km :� Country sparsely populated but with a rate of growth

of 3% per year� Luanda overpopulated with 6 million inhabitants

Tropical climate from humid to temperate

GDP growth of 15% per year between 2004 and 2008. Stagnant in 2009 and 8% in 2010Stagnant in 2009 and 8% in 2010.

� GDP of 4,000 $ / person (South Africa : 7,000$ ; Nigeria 2,500 $ ; Mozambique 800 $ ; Ghana 700 $ )

� Petroleum provides 80% of state revenuesf� Important infrastructure projects in progress

� Low impact of global financial crisis


Angola production by theme

2 500 kb/d

kboe/d

2 000

1 500

1 000

0

500

0

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

Onshore (Kwanza, FS/FST) Offshore Cabinda (B0)Off h (B1 B2 B3 B4) D W t (B14 B15 B17 B18)


Offshore (B1, B2, B3, B4) Deep Water (B14, B15, B17, B18)Very Deep Water (B31, B32) Gas ALNG


Angola Brief

Strategy Focus

Operated Assets

Assets operated by third partiesAssets operated by third parties

Oil Contracts

Risk Management


Total E&P Angola permit areas

LAC C AYO

RC

NORD

POINTE-NOIR

50100

500

20010

TOTAL

OPERATEURS

CHEVRON

BP

PLUSPETROL

ENI

TULLOW

MAERSK

EXXON

DEVON

OXY

VAALCO

LEGENDE

SONANGOL5° 00'

ZIC 14K/A-IMI - CVX op. (10%) (+26.75% TEPC)

CONGO

RDCCENTRE

SUDJDABloc 0

Bloc 14 BOMA MATADI

CABINDA

0000

2000

3000

TULLOW

TOTAL en ASSOCIATION

VAALCO

BRASPETRO

ALROSA

SOMOIL

COBALT ALNG

B15/06 – ENI op. (15%)

B0 – CVX op. (10%)

B14 CVX (20%)

Bloc 46

Bloc 47UE

C

Bloc 15

Bloc 1

Bloc 31

ANGOLA

SOYO

6° 00'

p ( ) B14 – CVX op. (20%)

ALNG (13 6%)

B31 – BP op. (5%)

Bloc 47

Bloc 48

AN

TI

Q

LUCUNGA

M'BRIDGE

SEMBOBloc 32

Bloc 16Bloc 3

Bloc 2

Bloc 4Bloc 17

N'ZETO

100

500

200

1000

2000

3

7° 00'

B32 (30%)B3/85 & 3/91 (50%)

ALNG (13.6%)

Bloc 50

Bloc 49

NA

TL

LOGECalulu PDA

Bloc 33

Bloc 5

Bloc 18

3000

8° 00'

Operated

B33 - Calulu PDA (58.7%)Participation %

( )

0 100 km

OC

EA LIFUNE

DANDE

BENGO

Bloc 34

Bloc 19

Bloc 35Bloc 6

CAXI TO

VIANALUANDA

OperatedNon OperatedBloc 17 (40%)

Bloc 17/06 (30%)

Echelle : 1/2 000 000

CUANZA12° 00'11° 00' 13° 00'


Strategy / stakesContinue to improve HSE performance

� Focus on individual behaviour / Awareness campaigns

Maximize production and maintain the plateau on existing installationsMaximize production and maintain the plateau on existing installations� Tie-in, infills, new technologies to improve recovery (Block 17 GirRI)

Finalize developments in progress and develop identified projects � Block 17 Pazflor & CLOVBlock 17 Pazflor & CLOV� Block 32 Kaombo� ALNG

Carry out exploration activityCarry out exploration activity� Pursue appraisal (Blocks 17, 32 & 14) and exploration (Blocks 17/06, 33, 15/06 & 0) on existing permit areas� Increase the number of exploration permits

Enhance Total E&P Angola’s “angolanization” processEnhance Total E&P Angola s angolanization process� Adequate recruitment, training, career management

Master Local Content on projects

Cost control� Optimization of rigs and boats under contract� Critical review of expenses, while ensuring the integrity of the installations� Thorough review of the engineering of projects operated by third parties� Thorough review of the engineering of projects operated by third parties


TEPA SEC production

SEC Production (Base 100 in 2000)

300

SEC production (base 100 = 2000)

200

100

0

2000 2005 2010 2015


TEPA preparing for the future

Around 2 B$ Investment per yearAround 2 B$ Investment per year

2014~500 kb/d operated production ~800 kb/d operated production

2010500 kb/d operated production

1,800 employees in Angola

800 kb/d operated production

2,200 employees in Angola



Angola Brief

Strategy Focus

Operated Assets


Oil Contracts

Risk Management


Block 17 : 4 FPSOs producing in 2014

Contractor Group Participation

Total (op) 40%

From 450-500 kb/d currently to over 800 kb/d in 2014

CLOV2014(e)

Plateau : 160 kb/d

Statoil 23.3%

Exxon 20%

BP 16.7%

Pazflor2011 Q4 (e)

Plateau : 220 kb/dGirassolDec-01

Plateau : 250 kb/d

GirRI project 2011(e)development of additional

resources 130 Mb

RosaJun-07

Plateau : 140 kb/d

resources 130 Mb

DaliaDec-06

Plateau : 140 kb/d

Dec 06Plateau : 255 kb/d


Block 17 – Maximize production and maintain plateau

GirRI130 Mb

kb/d

Operated production

800

1 000

GirRIDalia

130 Mb2 B$ Capex

600

800 DaliaGirassol Base

400

200

0

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

20 20 20 20 20 20 20 20 20 20 20


Block 17 – Pazflor development

kb/d Pazflor590 Mb

Operated production

800

1 000 PazflorGirRIDalia

590 Mb9 B$ Capex

600


400

200

0

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

20 20 20 20 20 20 20 20 20 20 20


Block 17 – CLOV development

kb/d CLOV505 Mb

Operated production

800

1 000 ClovPazflorGirRI

505 Mb7 B$ Capex

600


400

200

0

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2 2 2 2 2 2 2 2 2 2 2


Block 32 - Kaombo development projectContractor Group Participation

Total 30%

Marathon 10%

AlhoAlhoCentral North East Marathon 10%

Sonangol P&P 40%

Exxon Mobil 15%

G l 5%Colorau

Cominhos

Colorau

Cominhos

Cola

North East

Galp 5%

22 wells/15 discoveries

CarilGindungo

Manjericão CarilGindungo

Manjericão

22 wells/15 discoveries � ~900 Mb discovered

Kaombo = first hub� 2 FPSO ~100 kb/d

GengibreCanela

GengibreCanela

K b 2 FPSO 100 kb/d � ~300 Mb each

Central North East� Pursue appraisal to

Louro

Mostarda

Louro

MostardaKaombo

ppreach developmentSalsaSalsa20 km


Block 32 - Kaombo development project

Kaombo570 Mb

kb/dOperated production

800

1 000 Girassol Base Dalia GirRIPazflor Clov Kaombo

570 Mb

600

800

400

200

0

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

20 20 20 20 20 20 20 20 20 20 20


Exploration of operated assets

B32 Producing FPSO

FPSO to be built (sanctioned)

FPSO l d

B17 B17/06

FPSO planned

B17 – B17/06

B33

Pursue exploration to reach developable volumes (B32 North B17-06 B33)

km

Pursue exploration to reach developable volumes (B32 North, B17-06, B33)

Discover new reserves to be produced through current and future installations (tie back) to maintain production plateau and maximize value both for Contractor Group and Sonangol / State


Contractor Group and Sonangol / State

Main changes 2008-2010 & business opportunities

Cabinda Pluspetrol & Petropars arrival

Block 32 Marathon sold 20% to Sonagol

(kept 10% interest)Operating Companies

Block 33NIR (5%) excluded

Bidding round 2008 cancelled

Blocks 46,47,48 Cab N, KON11 & KON12

Blocks 9 19 20 21

Block 9-21 Cobalt arrival +

Nazaki Oil & Alper Oil

Blocks 9, 19, 20, 21

Nazaki Oil & Alper Oil

Block 12-13 Alrosa arrival + Dark Oil



Angola Brief

Strategy Focus

Operated Assets


Oil Contracts

Risk Management



Block 0 >350 kb/d (10%)� Offshore Cabinda

B0(Area A)

40 km

� ~170 platforms� Operated by Chevron

Bl k 14 200 kb/d (20%)B0 Block 14 ~200 kb/d (20%)� Deep Offshore� 1 FPSO + 2 Compliant

Piled Towers

B14KB0

(Area B)

� Operated by Chevron

Block 15-06 (15%)

B14

� Pursue exploration to reach development

� Operated by ENI

B15-06


Assets operated by third partiesLNG PlantBlock 0/14

Block 15Esso

120 KM

115 KM

Chevron

non associated

Block 31 BP

Esso

Block 32TOTAL

104 KMCLOV

Kaombo

non associated gas field

Pazflor Greater Plutonio

Bl k 17

Girassol

Dalia

Block 2

70KM40 KM

6 KM

73 KM

A l LNG 180 kb /d (13 6%)

TOTAL BPBlock 17TOTAL

Block 18BP

SNL P&PBlock 2

Angola LNG ~180 kboe/d (13.6%)

Flaring reduction, valorization of associated and non associated gas

First cargo 1H 2012(e)

Capacity 5.2 Mt/y of LNG + liquids



Angola Brief

Strategy Focus

Operated Assets


Oil Contracts

Risk Management


Production Sharing Contract

Revenues Production decrease Profit Oil National Oil Company& Expenses

after plateauProfit Oil National Oil Company

Income TaxProfit Oil

Contractor Group

Cost-Stop

Development Capex Explo

Profit Oil Contractor Group after tax

Contractor GroupBefore Tax

Opex recovery

Development CapexRecovery + uplift Costs

Recov.

Exploration Costs Development

CapexOpex

Production Start Up


Production Sharing Contract

Typically in AngolaCost Stop ~ 50% depending on

� Contracts� Technical parameters� Uplift recovery

Contractor Group’s share of the Profit Oil varies between 80% and 10% dependingContractor Group’s share of the Profit Oil varies between 80% and 10%, depending � On contracts� For a given contract, on the historical profitability of the development

Income Tax 50%Income Tax 50%

The contract

Offers the Contractor Group a fair return to face the risks supported (all the investments)p pp ( )

Offers the National Oil Company and State increasing part of the production� Immediate access to production and taxes� After development cost recovery, most of the production is shared as profit oil� Contractor Group’s share of the profit oil depends on the profitability : National Oil Company and State benefit

from upsides (higher volumes, higher prices)


Sonangol and Ministry of Petroleum

Sonangol : more than the Angolan National Oil Company� Concessionaire : Sonangol EP

U t ( t & t ) S l P&P� Upstream company (partner & operator) : Sonangol P&P� Downstream company (storage and distribution)� Sub-contractor through Joint Ventures with international companies : Petromar (Saipem),

Sonamet (Acergy), Angoflex (Technip)…So a e ( ce gy), go e ( ec p)� An important influence in Angolan economy through participation in banks (BAI, BCI),

real estate programs, etc.� Presence in international development in upstream (Iraq, Iran, GoM…) and

d t ti iti (P t )downstream activities (Portuguese area)

Sonangol EP concessionaire � Approval of exploration & development plan, budget, and attribution of main contractspp p p p , g ,� High technical capabilities

Ministry of Petroleum P t l L� Petroleum Law

� Decisions concerning petroleum activities : security, environment…



Angola BriefAngola Brief

Strategy Focus

Operated Assets


Oil ContractsO Co t acts

Risk Management


Risk Management : Drilling Deep Offshore

Creation of three task forces in Total headquarters : Capping and containment Deepwater drilling Oil spill response

Actions in Total E&P Angola :

Organize debriefing with available information of BP Macondoaccident within local teams

Review design and operational procedures for TEPA deep water wells

Thorough rig BOP acceptance procedure on new rigs including physical disconnection and subsea shear test

Upgrade intervention vessel with Remotely Operated Vehicle pumping skid to allow closing any BOP on TEPA’s rig fleet

Increase rig crew awareness on blowout consequences

Surface Shear test on Pride Africa


Total E&P Angola actions for oil spill response

Oil spill response to the BP spill in Gulf of Mexico

Staffing oil spill responder position 7d/7 - 24h/24 effective September

Purchasing oil spill recovery resources

Updating oil spill contingency plang y p

Preparing large scale exercise

Training the oil spill planning team

Training offshore staff for boom deployments

In case of major spill, TEPA has access to FOST and OSRL worldwide resources.


Technological risk management

Each installation (onshore and offshore) is subject to a risk study

Preliminary, detailed and quantitative risk assessments are now prepared

Dalia preliminary risk assessment is finalizeda a p e a y s assess e t s a ed


TEPA: a permanent growth

3500

4000

TEPA employees worldwide

N # of FPSO

67

3000

TEPA employees worldwide

34

6

2000

2500

2

4

15001

2

500

1000

0

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020


Disclaimer This document does not constitute the annual financial report that will be published separately in conformance with Article L.451-1-2 III of the Code monétaire et financier and will bep p p yavailable on the Group’s Web site www.total.com or by request from company’s headquarters.

This presentation and the associated slides and discussion may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 with respectto the financial condition, results of operations, business, strategy and plans of TOTAL, as well as global energy demand and production, expected future energy mix, decline in maturefields and expected future production, global oil and gas reserves, internal carbon price, anticipated competitive advantage through technology and capability, oil sand strategy (includingthe anticipated competitive nature of any resource basis renewal, the opportunity to leverage technological experience and value creation through integration with the Downstreamsegment), the possibility of future production improvements through technological developments, and the expected start-up date, production potential and timing of TOTAL projects.seg e ), e poss b y o u u e p oduc o p o e e s oug ec o og ca de e op e s, a d e e pec ed s a up da e, p oduc o po e a a d g o O p ojec s

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 ofpetroleum products, the ability to realize cost reductions and operating efficiencies without unduly disrupting business operations, environmental regulatory considerations, thecompetitiveness of alternate-energy sources, environmental and physical risks and general economic and business conditions. TOTAL does not assume any obligation to update publiclyany 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 isprovided 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 allocateresources internally. Due to their particular nature or significance, certain transactions qualified as “special items” are excluded from the business segment figures. In general, special itemsrelate to transactions that are significant, infrequent or unusual. However, in certain instances, certain transactions such as restructuring costs or assets disposals, which are not consideredto 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 in order to facilitate the comparabilityof the segments’ results with those of the Group’s competitors, and to help illustrate the operating performance of these segments excluding the impact of oil price changes on theof the segments results with those of the Group s competitors, and to help illustrate the operating performance of these segments excluding the impact of oil price changes on thereplacement of inventories.

In the replacement cost method, which approximates the LIFO (Last-In, First-Out) method, the variation of inventory values in the income statement is, depending on the nature of theinventory, determined by using either the month-end prices differential between one period and another or the average price of the period (rather than the historical value). The inventoryvaluation effect is the difference between the results according to FIFO (First-In, First-Out) and 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 costIn this framework, performance measures such as adjusted operating income, adjusted net operating income and adjusted net income are defined as incomes using replacement cost,adjusted for special items and excluding TOTAL’s equity share of adjustments related to Sanofi-Aventis. They are meant to facilitate the analysis of the financial performance and thecomparison 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 statementsprepared in dollars.

This document also includes certain socially responsible investment (SRI) issues identified by TOTAL as having the potential to affect TOTAL’s results Other SRI issues not included inThis document also includes certain socially responsible investment (SRI) issues identified by TOTAL as having the potential to affect TOTAL s results. Other SRI issues, not included inthis document, may also have an impact on TOTAL’s results.

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 companyhas determined in accordance with SEC rules. We may use certain terms in this presentation, such as “reserve potential” and “resources”, that the SEC’s guidelines strictly prohibit us fromincluding 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 govwww.sec.gov.


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