Factbook 2001 - Upstream
Upstream
Upstream: Oil and gas exploration and production, liquified natural gas, downstream gas, power generation, coal and other energies, the world’s fifth largest producer of hydrocarbons* No.1 in Africa; No.2 in the Middle East: Exploration & production in 45 countries. 2.20 Mboe/d produced in 2001. 10.98 Bboe of reserves on December 31, 2001, including 37% in natural gas. 2001 investments: 7.5 billion euros. A strong presence in gas logistics with interests in more than 20,000 km of high-pressure gas pipelines with operator responsibility for 11,000 km. A recognized player in power generation with 5,050 MW. 13,870 employees.
* Among international oil companies as of December 31, 2001.
20
Upstream >>
PRODUCTION 2001
2000
1999
1998
Liquids (mb/d)
1,454
1,433
1,468
1,502
Gas (Mcf/d)
4,061
3,758
3,322
3,225
Total (mboe/d)
2,197
2,124
2,065
2,070
2001
2000
1999
1998
6,961
6,960
6,868
6,267
Gas (Bcf)
21,929
20,705
20,253
19,082
Total (Mboe)
10,978
10,762
10,455
9,615
RESERVES
Liquids (Mb)
PRODUCTION (mboe/d)
RESERVES (Mboe)
21
Upstream >>
KEY OPERATING RATIOS 99-01 0.6
Consolidated subsidiaries
Finding costs ($/boe)
(1)
Reserve replacement costs ($/boe)
97-99 0.8
96-98 1.1
3.4
3.5
3.7
4.4
184
189
183
141
2001
2000
1999
1998
Operating costs ($/boe)
2.5
2.5
2.8
3.0
Exploration costs ($/boe)
0.7
0.7
0.8
1.0
3.9
4.0
3.8
3.9
7.1
7.2
7.4
7.9
2001
2000
1999
1998
13.7
13.8
13.9
12.7
Reserve replacement rate (%)
Consolidated subsidiaries
DD&A ($/boe) Technical costs ($/boe)
All subsidiaries
Reserve life (years) (1) (2) (3) (4) (5)
= = = = =
(5)
(4)
(3)
(2)
(exploration costs + unproved property acquisition) / (revision + extension, discoveries) (total costs incurred) / (revision + extension, discoveries + acquisitions), excludes the Sincor upgrader (revision + extension, discoveries + acquisition – sales of reserves) / production of the period (production costs + exploration expenses + DD&A (excluding FAS 121)) / production of the year reserves at year-end / production of the year
FINDING COSTS ($/boe)
22
98-00 0.7
RESERVE REPLACEMENT COSTS ($/boe)
TECHNICAL COSTS ($/boe)
COMBINED LIQUIDS AND GAS PRODUCTION 2001
2000
1999
1998
759
729
715
752
43 292 352 71
44 279 331 73
42 303 301 67
48 310 320 67
Italy
1
2
2
7
Africa
(in thousands of barrels of oil equivalent per day)
Europe France United Kingdom Norway Netherlands
611
624
601
613
Algeria Gabon Nigeria Congo Congo (DR) Angola Cameroon Libya
89 106 174 110 96 16 20
87 120 163 121 2 95 16 20
67 147 125 114 3 104 20 21
40 176 135 107 3 114 20 18
North America
49
54
61
73
49 -
54 -
60 1
72 1
USA Canada Far East
219
197
181
152
Indonesia Myanmar Thailand Brunei
155 16 38 10
147 5 35 10
139 37 5
128 24 -
Rest of world
259
218
227
189
Middle East Syria Qatar Iran U.A.E. Yemen
100 32 17 22 19 10
92 25 18 16 21 12
91 20 17 19 27 8
69 20 15 29 5
South America Ecuador Colombia Venezuela Argentina Bolivia
153 58 33 59 3
120 55 9 56 -
135 66 11 58 -
120 1 54 8 57 -
6 6
6 6
1 1
-
1,897
1,822
1,785
1,779
9
8
10
10
291
294
269
279
-
-
1
2
300
302
280
291
2,197
2,124
2,065
2,070
Other Russia Total consolidated production
2001 COMBINED LIQUIDS & GAS PRODUCTION
■ ■ ■ ■ ■
Europe Africa North America Far East Rest of world
35% 28% 2% 10% 25%
Equity and non-consolidated affiliates Africa Middle East Rest of world Total equity and non-consolidated affiliates
Worldwide production
23
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LIQUIDS PRODUCTION (in thousands of barrels per day)
Europe France United Kingdom Norway Netherlands Italy Africa Algeria Gabon Nigeria Congo Congo (DR) Angola Cameroon Libya North America USA Canada Far East
2001
2000
1999
1998
417
398
412
429
11 147 257 1 1
12 141 243 1 1
13 170 227 2 -
16 171 237 2 3
540
560
574
606
49 105 144 110 96 16 20
51 119 137 121 2 94 16 20
47 146 119 114 3 104 20 21
40 174 129 107 3 115 20 18
7
9
13
18
7 -
9 -
13 -
18 -
24
26
28
29
Indonesia Myanmar Thailand Brunei
18 5 1
20 5 1
23 5 -
26 3 -
Rest of world
208
172
189
151
Middle East Syria Qatar Iran U.A.E. Yemen
100 32 17 22 19 10
92 26 18 16 21 11
93 21 18 19 27 8
69 20 15 29 5
South America Ecuador Colombia Venezuela Argentina Bolivia
102 54 33 15 -
74 51 9 14 -
95 66 11 18 -
82 1 53 8 20 -
6 6
6 6
1 1
-
1,196
1,165
1,216
1,233
9 249 -
8 260 -
10 241 1
10 257 2
258
268
252
269
1,454
1,433
1,468
1,502
Other Russia Total consolidated production
Equity and non-consolidated affiliates Africa Middle East Rest of world Total equity and non-consolidated affiliates
Worldwide production
24
2001 LIQUIDS PRODUCTION
■ ■ ■ ■ ■
Europe Africa North America Far East Rest of world
29% 38% 0% 2% 31%
GAS PRODUCTION 2001
2000
1999
1998
1,852
1,786
1,712
1,852
181 758 508 402 3
183 727 458 410 8
168 749 410 377 8
186 789 479 380 18
(in millions of cubic feet per day)
Europe France United Kingdom Norway Netherlands Italy Africa
369
332
139
39
Algeria Gabon Nigeria Congo Congo (DR) Angola Cameroon Libya
208 8 153 -
191 8 133 -
102 8 29 -
7 32 -
North America
221
240
257
329
221 -
240 -
252 5
323 6
USA Canada Far East
1,114
966
856
692
Indonesia Myanmar Thailand Brunei
739 129 195 51
689 42 184 51
633 2 194 27
562 130 -
Rest of world
283
250
211
195
-
-
-
-
283 25 243 15
250 18 232 -
211 2 209 -
195 2 193 -
-
-
-
-
3,839
3,574
3,175
3,107
222 -
184 -
147 -
118 -
222
184
147
118
4,061
3,758
3,322
3,225
Middle East Syria Qatar Iran U.A.E. Yemen South America Ecuador Colombia Venezuela Argentina Bolivia Other Russia Total consolidated production
2001 GAS PRODUCTION
■ ■ ■ ■ ■
Europe Africa North America Far East Rest of world
46% 9% 6% 27% 12%
Equity and non-consolidated affiliates Africa Middle East Rest of world Total equity and non-consolidated affiliates
Worldwide production
25
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CHANGES IN LIQUIDS RESERVES CONSOLIDATED SUBSIDIARIES
(in millions of barrels)
Europe
Africa
North America
Far East
Rest of world
EQUITY
Total AFFILIATES Consolidated & NON
TOTAL GROUP
CONSOLIDATED
Proved developed and undeveloped reserves Balance as of December 31, 1997 Revisions of previous estimates Extensions, discoveries and other Acquisitions of reserves in place Sales of reserves in place Production for the year Balance as of December 31, 1998 Revisions of previous estimates Extensions, discoveries and other Acquisitions of reserves in place Sales of reserves in place Production for the year Balance as of December 31, 1999 Revisions of previous estimates Extensions, discoveries and other Acquisitions of reserves in place Sales of reserves in place Production for the year Balance as of December 31, 2000 Revisions of previous estimates Extensions, discoveries and other Acquisitions of reserves in place Sales of reserves in place Production for the year Balance as of December 31, 2001
1,296
2,087
96
115
521
4,115
1,790
5,905
134 67 13 (18) (157)
130 237 (221)
3 3 (16) (6)
23 (10)
84 191 (56)
374 498 13 (34) (450)
(24) 83 (98)
350 581 13 (34) (548)
1,335
2,233
80
128
740
4,516
1,751
6,267
113 50 (150)
275 204 (210)
(31) 30 (26) (5)
(13) 2 1 (10)
(87) 687 (45) (68)
257 973 1 (71) (443)
(24) 3 (2) (93)
233 976 1 (73) (535)
1,348
2,502
48
108
1,227
5,233
1,635
6,868
(20) 29 3 (40) (146)
225 261 (22) (205)
(1) 3 (7) (3)
11 1 (9)
112 53 (4) (63)
327 347 3 (73) (426)
11 (97)
338 347 3 (73) (523)
1,174
2,761
40
111
1,325
5,411
1,549
6,960
117 34 (3) (152)
250 67 3 (2) (197)
(5) (2)
(10) 2 (9)
89 30 (77)
441 133 3 (5) (437)
(40) (94)
401 133 3 (5) (531)
1,170
2,882
33
94
1,367
5,546
1,415
6,961
-
-
-
81 86 96
-
81 86 96
Minority interest in proved developed and undeveloped reserves December 31, 1997 December 31, 1998 December 31, 1999
26 36
81 60 60
December 31, 2000
35
56
-
-
-
91
-
91
December 31, 2001
33
75
-
-
-
108
-
108
802 845 975 824
1,068 1,052 1,176 1,156
35 22 14 9
85 93 74 69
406 538 423 416
2,396 2,550 2,662 2,474
1,775 1,661 1,570 1,023
4,171 4,211 4,232 3,497
870
1,128
6
53
530
2,587
858
3,445
Proved developed reserves December December December December
31, 31, 31, 31,
1997 1998 1999 2000
December 31, 2001
All references to reserves are to the Company’s share of such reserves, net of any liquids that may be taken by third parties as royalties in kind.
26
CHANGES IN GAS RESERVES CONSOLIDATED SUBSIDIARIES
(in billions of cubic feet)
Europe
EQUITY TOTAL AFFILIATES GROUP & NON CONSOLIDATED
Africa
North America
Far East
Rest of world
Total Consolidated
7,302
2,360
705
6,139
921
17,427
1,590
19,017
157 326 58 (59) (676)
158 (14)
66 126 1 (216) (120)
356 93 (253)
83 13 24 (71)
820 558 83 (275) (1,134)
10 46 (43)
830 604 83 (275) (1,177)
7,108
2,504
562
6,335
970
17,479
1,603
19,082
520 553 (24) (625)
(62) (51)
(85) 189 (28) (94)
654 25 81 (312)
141 354 (50) (77)
1,168 1,121 81 (102) (1,159)
16 100 (54)
1,184 1,221 81 (102) (1,213)
7,532
2,391
544
6,783
1,338
18,588
1,665
20,253
510 97 2 (66) (654)
(135) 236 (122)
26 98 (45) (88)
8 109 (353)
176 734 (91)
585 1,274 2 (111) (1,308)
2 75 (67)
587 1,349 2 (111) (1,375)
7,421
2,370
535
6,547
2,157
19,030
1,675
20,705
122 118 (20) (675)
863 746 (134)
(5) 87 (81)
170 74 (407)
67 307 80 (104)
1,217 1,332 80 (20) (1,401)
97 (81)
1,314 1,332 80 (20) (1,482)
6,966
3,845
536
6,384
2,507
20,238
1,691
21,929
-
-
-
9 103 146
-
9 103 146
Proved developed and undeveloped reserves Balance as of December 31, 1997 Revisions of previous estimates Extensions, discoveries and other Acquisitions of reserves in place Sales of reserves in place Production for the year Balance as of December 31, 1998 Revisions of previous estimates Extensions, discoveries and other Acquisitions of reserves in place Sales of reserves in place Production for the year Balance as of December 31, 1999 Revisions of previous estimates Extensions, discoveries and other Acquisitions of reserves in place Sales of reserves in place Production for the year Balance as of December 31, 2000 Revisions of previous estimates Extensions, discoveries and other Acquisitions of reserves in place Sales of reserves in place Production for the year Balance as of December 31, 2001
Minority interest in proved developed and undeveloped reserves December 31, 1997 December 31, 1998 December 31, 1999
96 138
9 7 8
December 31, 2000
142
7
-
-
-
149
-
149
December 31, 2001
141
30
-
-
-
171
-
171
4,547 4,264 5,054 5,336
156 565 1,824 1,555
483 308 351 334
3,519 4,457 4,664 4,089
457 671 654 701
9,162 10,265 12,547 12,015
597 857 1,665 1,675
9,759 11,122 14,212 13,690
5,185
1,287
294
3,800
934
11,500
1,660
13,160
Proved developed reserves December December December December
31, 31, 31, 31,
1997 1998 1999 2000
December 31, 2001
All references to reserves are to the Company’s share of such reserves, net of any gas that may be taken by third parties as royalties in kind.
27
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CHANGES IN LIQUIDS AND GAS RESERVES CONSOLIDATED SUBSIDIARIES
(in millions of barrels of oil equivalent)
Europe
Africa
North America
Far East
Rest of world
EQUITY
Total AFFILIATES Consolidated & NON
TOTAL GROUP
CONSOLIDATED
Proved developed and undeveloped reserves Balance as of December 31, 1997 Revisions of previous estimates Extensions, discoveries and other Acquisitions of reserves in place Sales of reserves in place Production for the year Balance as of December 31, 1998 Revisions of previous estimates Extensions, discoveries and other Acquisitions of reserves in place Sales of reserves in place Production for the year Balance as of December 31, 1999 Revisions of previous estimates Extensions, discoveries and other Acquisitions of reserves in place Sales of reserves in place Production for the year Balance as of December 31, 2000 Revisions of previous estimates Extensions, discoveries and other Acquisitions of reserves in place Sales of reserves in place Production for the year Balance as of December 31, 2001
2,574
2,500
214
1,169
695
7,152
2,091
9,243
165 124 23 (28) (275)
158 237 (223)
16 24 (52) (27)
81 14 (55)
99 193 5 (69)
519 592 28 (80) (649)
(23) 92 (107)
496 684 28 (80) (756)
2,583
2,672
175
1,209
923
7,562
2,053
9,615
220 149 (4) (259)
265 204 (220)
(45) 62 (30) (21)
119 6 14 (66)
(67) 753 (54) (83)
492 1,174 14 (88) (649)
(21) 22 (2) (102)
471 1,196 14 (90) (751)
2,689
2,921
141
1,282
1,472
8,505
1,950
10,455
156 45 4 (51) (267)
233 308 (23) (228)
6 21 (15) (20)
23 19 (72)
147 189 (4) (80)
565 582 4 (93) (667)
12 14 (110)
577 596 4 (93) (777)
2,576
3,211
133
1,252
1,724
8,896
1,866
10,762
102 56 (7) (277)
416 225 3 (2) (223)
1 16 (17)
26 15 (80)
92 85 12 (95)
637 397 15 (9) (692)
(22) (110)
615 397 15 (9) (802)
2,450
3,630
133
1,213
1,818
9,244
1,734
10,978
-
-
-
83 103 121
-
83 103 121
Minority interest in proved developed and undeveloped reserves December 31, 1997 December 31, 1998 December 31, 1999
42 60
83 61 61
December 31, 2000
62
58
-
-
-
120
-
120
December 31, 2001
58
80
-
-
-
138
-
138
1,601 1,597 1,869 1,840
1,095 1,149 1,497 1,450
116 74 74 68
720 844 869 768
492 665 542 615
4,024 4,329 4,851 4,741
1,971 1,901 1,802 1,269
5,995 6,230 6,653 6,010
1,822
1,372
62
698
698
4,652
1,171
5,823
Proved developed reserves December December December December
31, 31, 31, 31,
1997 1998 1999 2000
December 31, 2001
All references to reserves are to the Company’s share of such reserves, net of any liquids or gas that may be taken by third parties as royalties in kind.
28
RESULTS OF OPERATIONS FOR OIL AND GAS PRODUCING ACTIVITIES The following table includes revenues and expenses associated directly with the Company’s oil and gas producing activities. It does not include any interest cost. In the Consolidated Financial Statements, the Company’s share of results of oil and gas producing activities for equity affiliates is reflected through internal billing in the Upstream operating income. (in millions of euros)
CONSOLIDATED SUBSIDIARIES
Europe
Africa
North America
Far East
Rest of world
Total Consolidated
1,722 1,628
65 2,097
191 116
439 73
190 370
2,607 4,284
Total Revenues Production costs Exploration expenses Depreciation, depletion and amortization and valuation allowances (1) Other expenses (2)
3,350 (793) (132) (1,219)
2,162 (608) (195) (1,444)
307 (92) (64) (127)
512 (87) (52) (75)
560 (157) (170) (273)
6,891 (1,737) (613) (3,138)
(92)
(185)
(16)
(2)
(71)
(366)
Pretax income from producing activities Income tax
1,114 (456)
(270) (257)
8 (19)
296 (159)
(111) (18)
1,037 (909)
658
(527)
(11)
137
(129)
128
1,138 2,396
156 3,058
109 154
716 125
427 706
2,546 6,439
Year ended December 31, 1998 Revenues Sales to unaffiliated parties Transfers to affiliated parties
Results of oil and gas producing activities Year ended December 31, 1999 Revenues Sales to unaffiliated parties Transfers to affiliated parties Total Revenues Production costs Exploration expenses Depreciation, depletion and amortization and valuation allowances (1) Other expenses (2)
3,534 (690) (103)
3,214 (597) (119)
263 (63) (85)
841 (162) (28)
1,133 (162) (142)
8,985 (1,674) (477)
(1,014) (82)
(734) (287)
(249) (12)
(104) (5)
(359) (120)
(2,460) (506)
Pretax income from producing activities Income tax
1,645 (830)
1,477 (898)
(146) 44
542 (267)
350 (113)
3,868 (2,064)
815
579
(102)
275
237
1,804
2,084 4,121
462 5,407
215 262
1,313 209
866 1,105
4,940 11,104
Results of oil and gas producing activities Year ended December 31, 2000 Revenues Sales to unaffiliated parties Transfers to affiliated parties Total Revenues Production costs (3) Exploration expenses Depreciation, depletion and amortization and valuation allowances (1) Other expenses (2)
6,205 (786) (58)
5,869 (531) (120)
477 (98) (156)
1,522 (156) (34)
1,971 (255) (150)
16,044 (1,826) (518)
(1,173) (71)
(898) (689)
(196) (16)
(160) (8)
(482) (204)
(2,909) (988)
Pretax income from producing activities Income tax
4,117 (2,358)
3,631 (2,255)
11 (115)
1,164 (561)
880 (340)
9,803 (5,629)
1,759
1,376
(104)
603
540
4,174
2,624 3,566
439 4,548
81 386
1,460 180
1,191 684
5,795 9,364
Results of oil and gas producing activities Year ended December 31, 2001 Revenues Sales to unaffiliated parties Transfers to affiliated parties Total Revenues Production costs Exploration expenses Depreciation, depletion and amortization and valuation allowances (1) Other expenses (2)
6,190 (782) (52)
4,987 (621) (144)
467 (119) (134)
1,640 (168) (16)
1,875 (268) (226)
15,159 (1,958) (572)
(1,225) (79)
(905) (554)
(206) (17)
(192) (15)
(455) (316)
(2,983) (981)
Pretax income from producing activities Income tax
4,052 (2,378)
2,763 (1,751)
(9) 76
1,249 (574)
610 (277)
8,665 (4,904)
1,674
1,012
67
675
333
3,761
Results of oil and gas producing activities
Company’s share of equity affiliates’ results of oil and gas producing activities Year ended December 31, 1998 Year ended December 31, 1999 Year ended December 31, 2000
104 136 279
Year ended December 31, 2001
335
Figures calculated according to Article 215: they may differ substantially from FAS 69. (1) Including a 874 M€ in 1998, 128 M€ in 1999 write-down following the application of FAS 121 standard and 30 M€ of other write-downs in 2000. (2) Production taxes. (3) Including 57 M€ of merger costs in 2000.
29
Upstream >>
COSTS INCURRED IN OIL AND GAS PROPERTY ACQUISITION, EXPLORATION AND DEVELOPMENT ACTIVITIES The following table shows the costs incurred in the Company’s oil and gas property acquisition, exploration and development activities: they include both capitalized and expensed amounts.
CONSOLIDATED SUBSIDIARIES
(in millions of euros)
Europe
Africa
North America
Far East
Rest of world
Proved property acquisition Unproved property acquisition Exploration costs Development costs
19 1 187 1,524
Total cost incurred
Total Consolidated
2 16 292 905
1 56 106 248
1 67 375
15 13 313 541
37 87 965 3,593
1,731
1,215
411
443
882
4,682
Proved property acquisition Unproved property acquisition Exploration costs Development costs
1 96 1,283
3 202 193 934
1 21 135 158
1 28 320
2 1 181 1,057
6 226 633 3,752
Total cost incurred
1,380
1,332
315
349
1,241
4,617
Proved property acquisition Unproved property acquisition Exploration costs Development costs
4 58 1,225
5 246 920
11 170 182
3 34 151
213 1,584
7 16 721 4,062
Total cost incurred
1,287
1,171
363
188
1,797
4,806
As of December 31, 2001 Proved property acquisition Unproved property acquisition Exploration costs Development costs
83 1,222
13 10 214 1,218
2 110 364
10 17 191
12 131 346 1,150
25 153 770 4,145
Total cost incurred
1,305
1,455
476
218
1,639
5,093
As of December 31, 1998
As of December 31, 1999
As of December 31, 2000
Company’s share of equity affiliates’ costs of property acquisition, exploration and development Year ended December 31, 1998 Year ended December 31, 1999 Year ended December 31, 2000
105 82 105
Year ended December 31, 2001
132
Up to year 2000, the development costs related to the upgrader of the Sincor heavy oil project in Venezuela used to be included in the capitalized and incurred costs displayed in the FAS 69 amounts. In 2001, TotalFinaElf has taken the position that these costs do not in fact fall into the FAS 69 perimeter and the corresponding amounts have been excluded. The amounts displayed for 1999 and 2000 have not been modified. The incurred costs related to the upgrader of the Sincor project in 2000 and 1999 amount respectively to 416 M€ and 339 M€. Excluding these amounts, the incurred costs would have totalled 1,381 M€ and 902 M€ instead of 1,797 M€ and 1,241 M€ for the “Rest of the World” zone, and 4,390 M€ and 4,728 M€ instead of 4,806 M€ and 4,617 M€ for the consolidated total.
30
CAPITALIZED COST RELATED TO OIL AND GAS PRODUCING ACTIVITIES Capitalized costs represent the amounts of capitalized proved and unproved property costs, including support equipment and facilities, along with the related accumulated depreciation, depletion and amortization.
(in millions of euros)
CONSOLIDATED SUBSIDIARIES Europe
Africa
North America
Far East
Rest of world
Total Consolidated
20,526 804 21,330
11,324 587 11,911
1,652 339 1,991
1,511 54 1,565
2,646 277 2,923
37,659 2,061 39,720
(13,872)
(7,297)
(1,230)
(400)
(994)
(23,793)
7,458
4,614
761
1,165
1,929
15,927
24,613 97 24,710
14,226 786 15,012
1,809 413 2,222
2,221 60 2,281
3,969 186 4,155
46,838 1,542 48,380
(16,143)
(9,141)
(1,429)
(610)
(1,155)
(28,478)
8,567
5,871
793
1,671
3,000
19,902
23,072 127 23,199
16,276 996 17,272
1,693 303 1,996
2,595 38 2,633
5,848 279 6,127
49,484 1,743 51,227
(14,916)
(10,701)
(1,315)
(818)
(1,747)
(29,497)
8,283
6,571
681
1,815
4,380
21,730
23,637 149 23,786
18,149 1,065 19,214
1,964 247 2,211
2,512 50 2,562
6,919 458 7,377
53,181 1,969 55,150
(16,088)
(12,442)
(1,348)
(771)
(3,071)
(33,720)
7,698
6,772
863
1,791
4,306
21,430
As of December 31, 1998 Proved properties Unproved properties Total capitalized costs Accumulated depreciation, depletion and amortization Net capitalized costs
As of December 31, 1999 Proved properties Unproved properties Total capitalized costs Accumulated depreciation, depletion and amortization Net capitalized costs
As of December 31, 2000 Proved properties Unproved properties Total capitalized costs Accumulated depreciation, depletion and amortization Net capitalized costs
As of December 31, 2001 Proved properties Unproved properties Total capitalized costs Accumulated depreciation, depletion and amortization Net capitalized costs
Company’s share of equity affiliates’ net capitalized costs Year ended December 31, 1998 Year ended December 31, 1999 Year ended December 31, 2000
547 629 752
Year ended December 31, 2001
853
Figures calculated according to Article 215: they may differ substantially from FAS 69. Up to year 2000, the development costs related to the upgrader of the Sincor heavy oil project in Venezuela used to be included in the capitalized and incurred costs displayed in the FAS 69 amounts. In 2001, TotalFinaElf has taken the position that these costs do not in fact fall into the FAS 69 perimeter and the corresponding amounts have been excluded. The amounts displayed for 1999 and 2000 have not been modified. The capitalized costs related to the upgrader of the Sincor project in the “Rest of the World” zone for 2000 and 1999 amount respectively to 878 M€ and 462 M€. These amounts also include the capitalized costs related to 1997 and 1998. Excluding these amounts, the net capitalized costs would have totalled 3,502 M€ and 2,538 M€ instead of 4,380 M€ and 3,000 M€ for the “Rest of the World” zone, and 20,852 M€ and 19,440 M€ instead of 21,730 M€ and 19,902 M€ for the consolidated total.
31
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STANDARDIZED MEASURE OF DISCOUNTED FUTURE NET CASH FLOW (in millions of euros)
(excluding transportation)
CONSOLIDATED SUBSIDIARIES Europe
Africa
North America
Far East
Rest of world
Total Consolidated
As of December 31, 1999 Future cash inflows Future production costs Future development costs Futur net cash flows, before income taxes Future income taxes Future net cash flows, after income taxes Discount at 10%
48,743 (9,366) (4,044) 35,333 (19,798) 15,535 (5,583)
66,389 (11,951) (8,647) 45,791 (28,491) 17,300 (8,217)
2,271 (357) (496) 1,418 (320) 1,098 (421)
21,659 (2,935) (1,918) 16,806 (7,418) 9,388 (4,864)
29,240 (6,554) (3,751) 18,935 (5,934) 13,001 (7,153)
168,302 (31,163) (18,856) 118,283 (61,961) 56,322 (26,238)
9,952
9,083
677
4,524
5,848
30,084
55,763 (6,983) (3,947) 44,833 (24,510) 20,323
66,026 (12,219) (9,196) 44,611 (27,969) 16,642
5,779 (290) (680) 4,809 (1,318) 3,491
23,464 (3,508) (2,340) 17,616 (7,809) 9,807
32,918 (8,110) (3,047) 21,761 (10,043) 11,718
183,950 (31,110) (19,210) 133,630 (71,649) 61,981
Discount at 10%
(7,958)
(8,014)
(1,159)
(5,034)
(6,271)
(28,436)
Net cash flows
12,365
8,628
2,332
4,773
5,447
33,545
48,279 (7,628) (5,691) 34,960 (19,818) 15,142 (4,909)
60,535 (12,452) (10,687) 37,396 (22,449) 14,947 (7,464)
2,356 (478) (741) 1,137 (106) 1,031 (434)
20,072 (3,386) (2,776) 13,910 (6,281) 7,629 (3,779)
25,636 (7,183) (2,964) 15,489 (4,271) 11,218 (5,587)
156,878 (31,127) (22,859) 102,892 (52,925) 49,967 (22,173)
10,233
7,483
597
3,850
5,631
27,794
Net cash flows
As of December 31, 2000 Future cash inflows Future production costs Future development costs Futur net cash flows, before income taxes Future income taxes Future net cash flows, after income taxes
As of December 31, 2001 Future cash inflows Future production costs Future development costs Futur net cash flows, before income taxes Future income taxes Future net cash flows, after income taxes Discount at 10% Net cash flows
Company’s share of equity affiliates’ future net cash flows as of Year ended December 31, 1999 Year ended December 31, 2000
1,751 2,511
Year ended December 31, 2001
2,247
Figures calculated according to Article 215: they may differ substantially from FAS 69. The standardized measure of discounted future net cash flows from production of proved reserves was developed as follows: - Current prices: the estimated future cash flows are determined based on prices as at December 31. - Current production and development costs: the future costs pertaining to production of proved reserves are determined assuming constant year-end technical and economic conditions. The production costs include production taxes unlike table Results of operations. - Income taxes: the estimated taxes are computed according to the existing local tax laws at year-end and take into consideration the permanent differences and future income tax credits. - Discount rate: the future net cash flows are discounted at the standard 10% rate. These applicable principles are the ones required by the FAS 69, and do not necessarily reflect the expectations of real revenues from these reserves, nor their present value: hence, they do not constitute criteria of investment decision. A better estimate of the present value of reserves should also take into account, among other things, the recovery of reserves not presently classified as proved, anticipated futures changes in prices and costs and a discount factor more representative of the time value of money and the risks inherent in reserves estimates.
32
CHANGES IN THE STANDARDIZED MEASURE OF DISCOUNTED FUTURE NET CASH FLOWS 2001
2000
1999
33,545
30,084
9,284
Sales and transfers, net of production costs and other expenses
(12,220)
(13,250)
(7,174)
Net change in sales and transfer prices, net of production costs and other expenses
(11,190)
11,867
30,796
Extensions, discoveries and improved recovery, net of future production and development costs
932
2,065
6,945
Changes in estimated future development costs
(in millions of euros)
Beginning of the year Consolidated
(2,285)
(1,019)
(2,570)
Previously estimated development costs incurred during the year
4,145
4,062
2,885
Revisions of previous quantity estimates
(235)
1,965
3,416
3,355
3,008
1,198
11,734
(4,688)
(19,326)
Accretion of discount Net change in income taxes Purchases of reserves in place
(5)
76
3,040
Sales of reserves in place
18
(625)
(313)
-
-
1,903
27,794
33,545
30,084
Changes in production rates (timing) and other End of year
33
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MAIN PRODUCING FIELDS at December 31, 2001
Year of entry into the country
Group financial interest in the local entity
Main-Group-operated fields in production (Group share %)
Main non-Group-operated fields in production (Group share %)
Liquids or Gas
Europe France
1939
EAEPF (99.9%)
Lacq (100%)
L, G
United Kingdom
1962
TotalFinaElf Exploration UK (99.8%) Elf Exploration UK (99.8%) Fina Exploration Ltd (99.6%)
Alwyn N., Dunbar, Ellon, Grant (100%) Nuggets (100%) Elgin-Franklin (46.2%)
L, G G L, G L, G L G L, G G L
Bruce (43.3%) Mallard (23.8%) Markham unitized field (7.4%) ETAP (Mungo, Monan) (12.4%) Armada (12.5%) Alba (12.7%) Nelson (11.5%) Norway
1965
TotalFinaElf Exploration Norge AS (100%)
Froy (40%)
L, G
Frigg (37.8%)
Netherlands
1964
TotalFinaElf E&P Nederland BV (100%)
Heimdal (26.3%) Ekofisk (39.9%) Eldfisk (39.9%) Oseberg (8.7%) Veslefrikk (18%) Troll (3.7%) Aasgard (7.7%) Snorre (5.95%) Valhall (15.7%) Sleipner (9.41%) Tordis (5.6%) Glitne (21.8%)
G G L, G L, G L, G L L, G L, G L L G L L
Huldra (24.33%)
L, G
Zuidwal (42.2%) Leeuwarden (92.8%) Harlingen (92.8%) L7 (56.2%) K6 (44.3%) L4a (55.6%) F15aA (32.5%) K4a (50%) K5a-K4b (26%) J3a (30%)
G G G G G G G G G G Markham unitized field (14.7%)
34
L
G
Year of entry into the country
Group financial interest in the local entity
Main-Group-operated fields in production (Group share %)
Main non-Group-operated fields in production (Group share %)
Liquids or Gas
Africa Algeria
1952
TotalFinaElf E&P Algérie (99.9%)
Gabon
1928
Elf Gabon (57.9%)
Tin Fouye Tabankort (35%) Hamra (100%) Avocette, Coucal (57.5%) Hylia, Vanneau (75%) Anguille, Torpille (100%) Gonelle (100%) Atora (40%)
L L L L L L
Baudroie Marine (50%)
L
Rabi (47.5%) Elf Aquitaine Gabon (100%)
Nigeria
1962
Total Upstream Nigeria (99.7%) Elf Petroleum Nigeria Ltd. (99.7%)
OML 57 (40%), OML 100 (40%), OML 102 (40%) OML 58 (40%)
Congo
1928
Elf Congo SA (99.4%)
Likouala (65%) Tchibouela (65%) Tchendo (65%) Yanga (55.3%) Sendji (55.3%) Nkossa (51%)
Angola
mid-1960s
TotalFinaElf E&P Angola (99.7%) Total Angola (99.7%) Elf Petroleum Angola (99.7%) Fina Exploration M’Bridge BV (100%)
1951
TotalFinaElf E&P Cameroun (75.4%)
Ekoundou (15.3%) Kombo (15.3%)
Libya
1959
TotalFinaElf E&P Libye (99.7%)
Mabruk (75%)
L, G
Loango (50%)
L L, G L L L L L
Zatchi (35%)
L
Kuito (Block 14) (20%) Block 2-85 (27.5%)
L L L L
Cabinda offshore (Block 0) (10%)
L L L
Mokoko (7%)
TotalFinaElf E&P USA (100%)
L L
El Sharara (7.5%)
1964
L L, G
SPDC fields (10%)
Girassol (Block 17) (40%) Blocks 3-80, 3-85, 3-91 (50%)
Cameroon
North America USA
L, G L
Virgo (64%) MacAllen-Pharr (97.3%) Slick Ranch (90.1%) Maben (47%) Bethany (87%)
L(1)
L, G G L, G G L, G MacAllen-Ranch (18.9%)
G
(1) TotalFinaElf has a 30% interest in the foreign investment group which has a 25% interest in production.
35
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Year of entry into the country
Group financial interest in the local entity
Main-Group-operated fields in production (Group share %)
Main non-Group-operated fields in production (Group share %)
Liquids or Gas
Far East Indonesia
1968
TotalFinaElf E&P Indonésie (100%)
Handil (50%) Bekapai (50%) Peciko (50%) Tambora/Tunu (50%) Nilam (9.3%)
Myanmar
1992
TotalFinaElf E&P Myanmar (99.7%)
Yadana (31.2%)
Thailand
1990
TotalFinaElf E&P Thailand (99.7%)
Brunei
1987
TotalFinaElf EP Borneo BV (99.8%)
Maharaja Lela Jamalulalam (51.7%)
Syria
1988
TotalFinaElf E&P Syria (100%)
Jafra / Qahar (50%)
Qatar
1938
TotalFinaElf E&P Qatar (99.4%)
Al Khalij (55%)
L, G L, G L, G L, G L, G G
Bongkot (33.3%)
L, G L, G
Middle East
Total Qatar Oil & Gas (99.7%) Iran
1954
Total Sirri (100%)
Dubai
1954
Total Service Golfe (99.8%) Dubai Marine Areas (50%)
Yemen
1987
TotalFinaElf E&P Yemen (100%)
L L North Field (20%)
Sirri (60%)
L (3) Dubai offshore (27.5%)
Kharir (27.5%)
Total A.B.K. (99.7%) ADMA (33.3%)
Abu Al Bu Khoosh (75%)
L
Abu Dhabi offshore (13.3%)
L L (5)
ADPC (23.8%)
Abu Dhabi onshore (9.5%)
L (6)
1937
POHOL (10%) Total Oman (100%)
Various fields onshore (4%)
L (7)
Bolivia
1995
Total E.P. Bolivie (100%)
San Alberto (15%)
L, G
Colombia
1973
Tepma Colombie (99.8%)
Cusiana (19%)
L, G
Oman
1936
L (4) L
Jannah permit (Block 5) (15%) Abu Dhabi
L, G (2)
South America
Venezuela Argentina
1981
Total EP Venezuela (99.6%)
Cupiagua (19%)
L
Zuata (Sincor) (47%)
L
Jusepin (55%)
1978
Total Austral (99.7%)
Aguada Pichana (27.3%) San Roque (24.7%) Canadon Alfa (37.5%) Hidra (37.5%) Argo (37.5%)
1989
Total E.P. Russie (99.7%)
Kharyaga (50%)
L L, G L, G L, G L L
Other Russia (2) (3) (4) (5) (6) (7)
36
TotalFinaElf has a 20% interest in Qatargas upstream and a 10% interest in the Qatargas LNG facility. TotalFinaElf is the operator of the development of the Sirri A and E fields with a 60% interest in the foreign consortium. 25% indirect interest via Dubai Marine Areas (equity affiliate) plus 2,5% direct interest via Total Service Golfe. Via ADMA (equity affiliate), TotalFinaElf has a 13,33% interest and participates in the operating company, Abu Dhabi Marine Operating Company. Via ADPC (equity affiliate), TotalFinaElf has a 9,5% interest and participates in the operating company, Abu Dhabi Company For Onshore Oil Operation. Via POHOL (equity affiliate), TotalFinaElf has a 4% interest in the operator, Petroleum Development Oman LLC. TotalFinaElf also has a 5,54% interest in the Oman LNG facility.
L
OIL AND GAS ACREAGE 2001
(thousands of acres at year-end)
Undeveloped acreage (1)
2000 Developed acreage
Undeveloped acreage (1)
Developed acreage
Europe
Gross Net
13,139 4,959
818 202
15,696 6,167
1,435 277
Africa
Gross Net
116,884 67,538
1,172 290
74,265 22,740
370 154
North America
Gross Net
2,602 912
122 30
3,814 1,329
20 6
Far East
Gross Net
16,071 8,105
833 206
20,424 12,506
555 208
Rest of world
Gross Net
73,056 16,915
497 123
51,690 19,544
1,439 306
Total
Gross Net (2)
221,752 98,429
3,442 851
165,889 62,286
3,819 951
(1) Undeveloped acreage includes leases and concessions. (2) Net acreage equals the sum of the Company’s fractional interests in gross acreage.
NUMBER OF PRODUCTIVE OIL AND GAS WELLS 2001
(units at year-end)
Gross wells capable of producing
2000 Net wells capable of producing (1)
Gross wells capable of producing
Net wells capable of producing (1)
Europe
Oil Gas
445 477
171 211
556 398
186 164
Africa
Oil Gas
2,313 77
710 35
2,549 16
729 10
North America
Oil Gas
82 439
11 242
83 661
24 343
Far East
Oil Gas
260 381
207 171
203 601
86 157
Rest of world
Oil Gas
387 209
83 61
139 148
64 36
Total
Oil Gas
3,487 1,583
1,182 720
3,530 1,824
1,089 710
(1) Net wells equal the sum of the Company’s fractional interests in gross acreage.
37
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NUMBER OF NET OIL AND GAS WELLS DRILLED ANNUALLY The following table shows the net productive and dry exploratory and development oil and gas wells completed or abandoned by the Group in 2001. Productive wells include wells in which hydrocarbons were found, and the drilling or completion of which, in the case of exploratory wells, has been suspended pending drilling or evaluation. A dry well is one found to be incapable of producing in sufficient quantities to justify completion.
2001 Net productive Net dry wells drilled wells drilled
(units, at year-end)
Exploratory
Europe Africa North America Far East Rest of world
Development
Europe Africa North America Far East Rest of world
Total
Total Total
0.4 3.2 1.6 2.7
2.1 5.1 3.1 1.0 1.5
Net total wells drilled 2.5 8.3 4.7 1 4.2
2000 Net productive Net dry wells drilled wells drilled 0.7 4.9 1.0 2.0 0.7
0.6 1.5 1.4 0.4 0.5
Net total wells drilled 1.3 6.4 2.4 2.4 1.2
7.9
12.8
20.7
9.3
4.4
13.7
26.9 39.1 46.6 14.8 50.5
0.1 -
26.9 39.2 46.6 14.8 50.5
16.1 13.2 43.6 14.9 67.4
0.1 1.6 0.1
16.2 14.8 43.6 14.9 67.5
177.9
0.1
178.0
155.2
1.8
157.0
185.8
12.9
198.7
164.5
6.2
170.7
DRILLING AND PRODUCTION ACTIVITIES IN PROGRESS The following table shows the number of exploratory and development wells in the process of being drilled by the Group at December 31, 2001.
2001
(units at year-end)
Exploratory
Development
Total
38
2000
Gross
Net
Gross
Net
3.0 8.0 6.0
0.6 2.4 2.2
5.0 3.0 6.0
1.0 1.9 1.7
Total
17.0
5.2
14.0
4.6
Europe Africa North America Far East Rest of world
6.0 3.0 6.0 25.0 38.0
1.3 1.2 4.6 9.2 17.3
33.0 7.0 6.0 8.0 9.0
9.2 2.6 3.8 2.5 3.5
Total
78.0
33.6
63.0
21.6
95.0
38.8
77.0
26.2
Europe Africa North America Far East Rest of world
LIQUIFIED NATURAL GAS (LNG) SALES* 2001
2000
1999
1998
Abu Dhabi (ADGAS) (1) Qatar (QATARGAS) (2) Oman Indonesia Nigeria (2)
270 725 321 3,727 851
262 685 128 3,771 693
261 578 3,433 26
275 359 3,086 -
Total
5,894
5,539
4,298
3,720
(in mt/year)
* Group’s share (1) Cost method (2) Equity method
LNG POSITIONS
Snohvit LNG (project) TotalFinaElf: 18.4% Main long term contracts Spot sales LNG Plant (project) Capacity TotalFinaElf interest
Pars LNG (project) TotalFinaElf: 36%
Qatargas 7.7 Mt/y TotalFinaElf: 10%
Adgas 5.6 Mt/y TotalFinaElf: 5%
Nigeria LNG 9 Mt/y TotalFinaElf: 15%
North America
Oman LNG 6.6 Mt/y TotalFinaElf: 5.54% Bontang Indonesia 22.2 Mt/y TotalFinaElf supply to LNG plant 31% in 2001
Angola LNG (project) TotalFinaElf: 12%
Yemen LNG (project) TotalFinaElf: 36%
39
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INTERESTS IN PIPELINES Pipeline(s)
Origin
Destination
% Interest
TotalFinaElf operator
Oil
Gas
As of December 31, 2001
NORWAY Statpipe Zeepipe I Zeepipe IIA Zeepipe IIB Europipe I Aasgard Transport Europipe II Franpipe Norpipe a.s. Oseberg Gas Transport: OGT Vesterled Frostpipe Oseberg Transport System Norpipe Oil Troll Oil Pipeline I and II
UNITED KINGDOM Frigg System: UK line
40
√ √ √ √ √ √ √ √ √ √ √
Heimdal and other fields Sleipner Troll Troll Draupner Aasgard Kaarsto Gas Plant Draupner Ekofisk Treatment center Oseberg Heimdal and Frigg fields Lille-Frigg, Froy Oseberg, Brage and Veslefrikk Ekofisk Treatment center Troll B and C
Norpipe a.s. Zeebrugge (Belgium) Sleipner Draupner Dornum/Emden (Germany) Kaarsto Gas Plant Dornum/Emden (Germany) Dunkirk (France) Emden (Germany) Heimdal St. Fergus (Scotland) Oseberg Sture Teeside (UK) Vestprocess at Mongstad Refinery
12.00 4.60 4.60 4.60 4.60 7.65 5.91 5.05 20.86 9.71 11.48 36.24 8.65 34.93 3.70
Frigg, Alwyn North, Froy, Bruce, Lille-Frigg and others Bacton Elgin Franklin
St.Fergus (Scotland)
100.00
√
√
√ √ √ √
√ √
Interconnector Central Graben Liquid Export Line (LEP) Shearwater Elgin Area Line (SEAL) Elgin Franklin, Shearwater
Zeebrugge (Belgium) ETAP
10.00 46.17
Bacton
25.73
√
NETHERLANDS Nogat pipeline West Gas Transport WGT Extension Zuidwal pipeline Oldelamer pipeline
F15A K13A-K4K5 Markham Zuidwal Oldelamer
Den Helder Den Helder K13-K4K5 Harlingen Terminal Garijp Terminal
23.19 4.48 23.00 42.20 42.25
√ √ √ √ √
SOUTH AMERICA Transierra Gas Andes Ocensa TBG TGN TGM TSB (Project)
Yacuiba (Bolivia) Neuquen Basin (Argentina) Cusiana, Cupiagua (Colombia) Bolivia-Brazil border Network (North Argentina) TGN TGM (Uruguaïana)
Rio Grande (Bolivia) Santiago (Chile) Covenas Terminal (Colombia) Porto Alegre via Sao Paulo
√ √
Uruguaïana (Brazil) TBG (Porto Alegre)
11.00 56.50 15.20 9.67 19.22 32.68 25.00
√ √
√ √ √ √
ASIA Yadana
Yadana (Myanmar)
Ban-I Tong (Thai border)
31.20
√
√
FRANCE GSO CFM
Network South West Network Center West
70.00 45.00
√
√ √
√
√ √
GAS & POWER ACTIVITY IN EUROPE
Gas terminal
Alwyn
Pipeline with TotalFinaElf interest
Troll
Gas production
Heimdal
Power generation with TotalFinaElf interest
Frigg
Karsto Sleipner
Piper St. Fergus
Ekofisk Elgin/Franklin Humber Power Plant Interconnector 40%
Interconnector 10%
Emdem Bacton
Den Helder Zeebrugge
TotalFinaElf Gas & Power UK 100%
Dunkirk
Gaz de Strasbourg
CFM
25%
45% Gaz de Bordeaux 16%
Izaute Lussagnet storage 100%
Cepsa 45.3% Cepsa Gas Comercializadora
GSO 70%
JV.w/Cepsa 50/50
PIPELINE GAS SALES (Mcf/d)
France United Kingdom Norway Netherlands Italy Africa North America Indonesia* Myanmar Thailand Brunei Argentina Colombia Bolivie Total
2001
2000
1999
1998
159 701 501 399 3 36 222 57 126 189 51 251 3 15
161 709 451 409 7 141 238 52 43 177 47 219 2
169 738 395 376 8 45 255 41 1 188 27 185 2
186 822 619 381 18 40 351 40 127 166 2
2,713
2,656
2,430
2,752
* Domestic sales
41
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POWER GENERATION FACILITIES Interest
Capacity *
Fuel
United Kingdom Humber Power
40.00%
1,260 MW
Gas
Argentina Central Puerto Piedra del Aguila
63.94% 41.31%
2,165 MW 1,400 MW
Gas Hydro
* Capacity stated at 100%
GAS & POWER ACTIVITY IN SOUTH AMERICA
Ocensa 15.2%
Bolivia - Brazil 9.7%
TGM TGN
32.7%
19.2% Gasandes 56.5%
TSB (project) 25%
Central Puerto 63.9% Piedra del Aguila 41.3%
Production with TotalFinaElf interest Gas pipeline with TotalFinaElf interest Other gas pipeline Power generation with TotalFinaElf interest Gas basin
42
a bia Ve ezuela C n
ri b
b
a zi
lo m
l B olivia A gentina r
ea ns
ic
Co
Br
ex
o
ea
fM G u lf o
East M ddle yan Mi m
nd Brunei a il a Ind Th r o a
a se
Al g
m
ia
Syria Gulf of Gu ine aC as pi
sia ne
Nort hs ea
er
ya Lib
an
Upstream
a
.. . s p
North Sea Algeria – Libya Syria Gulf of Guinea Caspian sea Middle East Myanmar – Thailand Brunei – Indonesia Gulf of Mexico – Colombia Venezuela – Caribbean sea Brazil – Bolivia Argentina
43
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NORTH SEA (United Kingdom – Southern Norway)
Snorre
Troll Alwyn area
NORWAY NORWAY
Oseberg
Bruce
NORTH SEA
Sleipner
Ekofisk Elgin/Franklin
TotalFinaElf Operator TotalFinaElf Partner Alwyn
UNITED UNITED KINGDOM KINGDOM
44
0
Main Field
100
200 km
NORTH SEA (Northern Norway – The Netherlands)
TotalFinaElf Operator TotalFinaElf Partner Aasgard Field 0
450
900 km
SWEDEN NORWAY SEA
NORTH SEA J3 Aasgard J6
L4 Leeuwarden K4
K6
Gorredjik Slootdorp NORWAY
Harderwijk
Steenwijk
AMSTERDAM 0
100
200 km
THE NETHERLANDS GERMANY
BELGIUM BRUSSELS
45
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ALGERIA – LIBYA
TotalFinaElf Operator TUNIS
TotalFinaElf Partner Mabruk
0
Field
175
350 km
137 N 137 S
MEDITERRANEAN SEA
TRIPOLI
Hamra Mabruk
NC 190 Tin Fouye Tabankort
NC 186
NC 192 NC 115 (Murzuk)
ALGERIA
NC 191
LIBYA
NC 187
SYRIA (Deir Ez Zor) 40° Atallah North Tabiyeh
Jafra Da Lawaz East IRAQ
Al-Mazra’a Chibli Da
SYRIA
Qahar Da Marad Da 0
46
25
50 km
Shaytat Da
GULF OF GUINEA
LAGOS
TotalFinaElf Operator
NIGERIA
TotalFinaElf Partner
Obagi (Obite) Girassol Field
EA 0
200
400 km
Bonga YAOUNDÉ MALABO
CAMEROON
Ofon Amenam OPL 246
EQUAT. EQUAT. GUINEA GUINEA
LIBREVILLE
GABON
Rabi Kounga
GULF OF GUINEA
Atora
CONGO Anton Marin
N’kossa
Olonga Astrid Marin
CABINDA
CONGO (DR) Haute Mer Mer Très Profonde Sud Block 14 Block 31
Kuito
Block 32 Block 17 Block 33
Block 19
ANGOLA Girassol LUANDA
47
Upstream >>
CASPIAN SEA (Kazakhstan - Azerbaijan)
Kashagan RUSSIA KAZAKHSTAN
CASPIAN SEA
TURKMENISTAN Absheron AZERBAIJAN
BAKU
Shah-Deniz
TotalFinaElf Operator TotalFinaElf Partner
Lenkoran Talysh
IRAN
48
Shah-Deniz Main Field
0
400
800 km
MIDDLE EAST
TotalFinaElf Operator TotalFinaElf Partner
Dorood Field
South Pars
0
300
600 km
IRAN PERSIAN GULF South Pars
Balal Sirri A
North Field Alkalij
Sirri E
Adma Doha
Abu Al Bukhoosh
Dubaï
QATAR Adma A
Duma
Adma West Abu Dhabi
Adco
SAUDI ARABIA
OMAN
U.A.E.
Muscat
30°
OMAN
SAUDI ARABIA
OMAN SEA
East Shabwa
Block 6
0
250
500 km
YEMEN
49
Upstream >>
MYANMAR – THAILAND
LAOS MYANMAR
RANGOON
THAILAND
M-05
M-06
BANGKOK
CAMBODGE
VIETNAM
Bongkot
INDIAN OCEAN
CHINA SEA
TotalFinaElf Operator TotalFinaElf Partner Bongkot Field
0
50
MALAYSIA 300
600 km
BRUNEI
CHINA SEA
0
17,5
35 km
Maharaja Lela
MALAYSIA
BANDAR SERI BEGAWAN
0
300
600 km
BRUNEI Brunei CHINA SEA
Mahakam Area
INDIAN OCEAN
INDONESIA
INDONESIA (Mahakam area)
INDONESIA (Kalimatan)
Donggala
Tunu Saliki
SAMARINDA
Tambora Sisi/Nubi Handil
Peciko
STRAIT OF MACASSAR Tengah TotalFinaElf Operator Tunu
Bekapai 0
15
Field 30 km
South Mahakam
51
Upstream >>
GULF OF MEXICO
FLORIDA LOUISIANA TEXAS HOUSTON
NEW ORLEANS
Virgo
Aconcagua
Matterhorn
Camden Hills
GULF OF MEXICO
0
TotalFinaElf Operator TotalFinaElf Partner Virgo
Field
COLOMBIA CARIBBEAN SEA Sinu
VENEZUELA COLOMBIA
San Miguel
Capachos
Mundo Nuevo Tangara
Santiago de las Atalayas 1
Tauramena PACIFIC OCEAN
BOGOTA
Rio Chitamena Gaitanas Guadalupe
EQUATOR
52
0
150
300 km
150
300 km
VENEZUELA – CARIBBEAN SEA
TotalFinaElf Operator
BARBADOS
TotalFinaElf Partner Sincor 0
Field 150
300 km
Barbados Offshore CARIBBEAN SEA Jusepin
Yucal Placer
Block 2 C
ATLANTIC OCEAN
CARACAS
TRINIDAD AND TOBAGO VENEZUELA Sincor
53
Upstream >>
BRAZIL
BFZ-2 ATLANTIC OCEAN
BRAZIL
BRASILIA
BOLIVIA 0
300
BC-2 BM-C-14 Rio Hondo LA PAZ
BOLIVIA
TotalFinaElf Operator TotalFinaElf Partner Aquio
Aquio
San Antonio
Block XX San Alberto 0
100
200 km
ARGENTINA
54
Field
600 km
ARGENTINA
San Roque
NEUQUEN
CHILE Aguada Pichana
PACIFIC OCEAN
ARGENTINA
ATLANTIC OCEAN
FALKLANDS (GB) CAA-39 Argo Canadon Alfa
CAA-40
TotalFinaElf Operator
Hidra
TotalFinaElf Partner
CAA-46
Canadon Field Alfa
USHUAIA 0
300
600 km
55
Upstream: Oil and gas exploration and production, liquified natural gas, downstream gas, power generation, coal and other energies, the world’s fifth largest producer of hydrocarbons* No.1 in Africa; No.2 in the Middle East: Exploration & production in 45 countries. 2.20 Mboe/d produced in 2001. 10.98 Bboe of reserves on December 31, 2001, including 37% in natural gas. 2001 investments: 7.5 billion euros. A strong presence in gas logistics with interests in more than 20,000 km of high-pressure gas pipelines with operator responsibility for 11,000 km. A recognized player in power generation with 5,050 MW. 13,870 employees.
* Among international oil companies as of December 31, 2001.
20
Upstream >>
PRODUCTION 2001
2000
1999
1998
Liquids (mb/d)
1,454
1,433
1,468
1,502
Gas (Mcf/d)
4,061
3,758
3,322
3,225
Total (mboe/d)
2,197
2,124
2,065
2,070
2001
2000
1999
1998
6,961
6,960
6,868
6,267
Gas (Bcf)
21,929
20,705
20,253
19,082
Total (Mboe)
10,978
10,762
10,455
9,615
RESERVES
Liquids (Mb)
PRODUCTION (mboe/d)
RESERVES (Mboe)
21
Upstream >>
KEY OPERATING RATIOS 99-01 0.6
Consolidated subsidiaries
Finding costs ($/boe)
(1)
Reserve replacement costs ($/boe)
97-99 0.8
96-98 1.1
3.4
3.5
3.7
4.4
184
189
183
141
2001
2000
1999
1998
Operating costs ($/boe)
2.5
2.5
2.8
3.0
Exploration costs ($/boe)
0.7
0.7
0.8
1.0
3.9
4.0
3.8
3.9
7.1
7.2
7.4
7.9
2001
2000
1999
1998
13.7
13.8
13.9
12.7
Reserve replacement rate (%)
Consolidated subsidiaries
DD&A ($/boe) Technical costs ($/boe)
All subsidiaries
Reserve life (years) (1) (2) (3) (4) (5)
= = = = =
(5)
(4)
(3)
(2)
(exploration costs + unproved property acquisition) / (revision + extension, discoveries) (total costs incurred) / (revision + extension, discoveries + acquisitions), excludes the Sincor upgrader (revision + extension, discoveries + acquisition – sales of reserves) / production of the period (production costs + exploration expenses + DD&A (excluding FAS 121)) / production of the year reserves at year-end / production of the year
FINDING COSTS ($/boe)
22
98-00 0.7
RESERVE REPLACEMENT COSTS ($/boe)
TECHNICAL COSTS ($/boe)
COMBINED LIQUIDS AND GAS PRODUCTION 2001
2000
1999
1998
759
729
715
752
43 292 352 71
44 279 331 73
42 303 301 67
48 310 320 67
Italy
1
2
2
7
Africa
(in thousands of barrels of oil equivalent per day)
Europe France United Kingdom Norway Netherlands
611
624
601
613
Algeria Gabon Nigeria Congo Congo (DR) Angola Cameroon Libya
89 106 174 110 96 16 20
87 120 163 121 2 95 16 20
67 147 125 114 3 104 20 21
40 176 135 107 3 114 20 18
North America
49
54
61
73
49 -
54 -
60 1
72 1
USA Canada Far East
219
197
181
152
Indonesia Myanmar Thailand Brunei
155 16 38 10
147 5 35 10
139 37 5
128 24 -
Rest of world
259
218
227
189
Middle East Syria Qatar Iran U.A.E. Yemen
100 32 17 22 19 10
92 25 18 16 21 12
91 20 17 19 27 8
69 20 15 29 5
South America Ecuador Colombia Venezuela Argentina Bolivia
153 58 33 59 3
120 55 9 56 -
135 66 11 58 -
120 1 54 8 57 -
6 6
6 6
1 1
-
1,897
1,822
1,785
1,779
9
8
10
10
291
294
269
279
-
-
1
2
300
302
280
291
2,197
2,124
2,065
2,070
Other Russia Total consolidated production
2001 COMBINED LIQUIDS & GAS PRODUCTION
■ ■ ■ ■ ■
Europe Africa North America Far East Rest of world
35% 28% 2% 10% 25%
Equity and non-consolidated affiliates Africa Middle East Rest of world Total equity and non-consolidated affiliates
Worldwide production
23
Upstream >>
LIQUIDS PRODUCTION (in thousands of barrels per day)
Europe France United Kingdom Norway Netherlands Italy Africa Algeria Gabon Nigeria Congo Congo (DR) Angola Cameroon Libya North America USA Canada Far East
2001
2000
1999
1998
417
398
412
429
11 147 257 1 1
12 141 243 1 1
13 170 227 2 -
16 171 237 2 3
540
560
574
606
49 105 144 110 96 16 20
51 119 137 121 2 94 16 20
47 146 119 114 3 104 20 21
40 174 129 107 3 115 20 18
7
9
13
18
7 -
9 -
13 -
18 -
24
26
28
29
Indonesia Myanmar Thailand Brunei
18 5 1
20 5 1
23 5 -
26 3 -
Rest of world
208
172
189
151
Middle East Syria Qatar Iran U.A.E. Yemen
100 32 17 22 19 10
92 26 18 16 21 11
93 21 18 19 27 8
69 20 15 29 5
South America Ecuador Colombia Venezuela Argentina Bolivia
102 54 33 15 -
74 51 9 14 -
95 66 11 18 -
82 1 53 8 20 -
6 6
6 6
1 1
-
1,196
1,165
1,216
1,233
9 249 -
8 260 -
10 241 1
10 257 2
258
268
252
269
1,454
1,433
1,468
1,502
Other Russia Total consolidated production
Equity and non-consolidated affiliates Africa Middle East Rest of world Total equity and non-consolidated affiliates
Worldwide production
24
2001 LIQUIDS PRODUCTION
■ ■ ■ ■ ■
Europe Africa North America Far East Rest of world
29% 38% 0% 2% 31%
GAS PRODUCTION 2001
2000
1999
1998
1,852
1,786
1,712
1,852
181 758 508 402 3
183 727 458 410 8
168 749 410 377 8
186 789 479 380 18
(in millions of cubic feet per day)
Europe France United Kingdom Norway Netherlands Italy Africa
369
332
139
39
Algeria Gabon Nigeria Congo Congo (DR) Angola Cameroon Libya
208 8 153 -
191 8 133 -
102 8 29 -
7 32 -
North America
221
240
257
329
221 -
240 -
252 5
323 6
USA Canada Far East
1,114
966
856
692
Indonesia Myanmar Thailand Brunei
739 129 195 51
689 42 184 51
633 2 194 27
562 130 -
Rest of world
283
250
211
195
-
-
-
-
283 25 243 15
250 18 232 -
211 2 209 -
195 2 193 -
-
-
-
-
3,839
3,574
3,175
3,107
222 -
184 -
147 -
118 -
222
184
147
118
4,061
3,758
3,322
3,225
Middle East Syria Qatar Iran U.A.E. Yemen South America Ecuador Colombia Venezuela Argentina Bolivia Other Russia Total consolidated production
2001 GAS PRODUCTION
■ ■ ■ ■ ■
Europe Africa North America Far East Rest of world
46% 9% 6% 27% 12%
Equity and non-consolidated affiliates Africa Middle East Rest of world Total equity and non-consolidated affiliates
Worldwide production
25
Upstream >>
CHANGES IN LIQUIDS RESERVES CONSOLIDATED SUBSIDIARIES
(in millions of barrels)
Europe
Africa
North America
Far East
Rest of world
EQUITY
Total AFFILIATES Consolidated & NON
TOTAL GROUP
CONSOLIDATED
Proved developed and undeveloped reserves Balance as of December 31, 1997 Revisions of previous estimates Extensions, discoveries and other Acquisitions of reserves in place Sales of reserves in place Production for the year Balance as of December 31, 1998 Revisions of previous estimates Extensions, discoveries and other Acquisitions of reserves in place Sales of reserves in place Production for the year Balance as of December 31, 1999 Revisions of previous estimates Extensions, discoveries and other Acquisitions of reserves in place Sales of reserves in place Production for the year Balance as of December 31, 2000 Revisions of previous estimates Extensions, discoveries and other Acquisitions of reserves in place Sales of reserves in place Production for the year Balance as of December 31, 2001
1,296
2,087
96
115
521
4,115
1,790
5,905
134 67 13 (18) (157)
130 237 (221)
3 3 (16) (6)
23 (10)
84 191 (56)
374 498 13 (34) (450)
(24) 83 (98)
350 581 13 (34) (548)
1,335
2,233
80
128
740
4,516
1,751
6,267
113 50 (150)
275 204 (210)
(31) 30 (26) (5)
(13) 2 1 (10)
(87) 687 (45) (68)
257 973 1 (71) (443)
(24) 3 (2) (93)
233 976 1 (73) (535)
1,348
2,502
48
108
1,227
5,233
1,635
6,868
(20) 29 3 (40) (146)
225 261 (22) (205)
(1) 3 (7) (3)
11 1 (9)
112 53 (4) (63)
327 347 3 (73) (426)
11 (97)
338 347 3 (73) (523)
1,174
2,761
40
111
1,325
5,411
1,549
6,960
117 34 (3) (152)
250 67 3 (2) (197)
(5) (2)
(10) 2 (9)
89 30 (77)
441 133 3 (5) (437)
(40) (94)
401 133 3 (5) (531)
1,170
2,882
33
94
1,367
5,546
1,415
6,961
-
-
-
81 86 96
-
81 86 96
Minority interest in proved developed and undeveloped reserves December 31, 1997 December 31, 1998 December 31, 1999
26 36
81 60 60
December 31, 2000
35
56
-
-
-
91
-
91
December 31, 2001
33
75
-
-
-
108
-
108
802 845 975 824
1,068 1,052 1,176 1,156
35 22 14 9
85 93 74 69
406 538 423 416
2,396 2,550 2,662 2,474
1,775 1,661 1,570 1,023
4,171 4,211 4,232 3,497
870
1,128
6
53
530
2,587
858
3,445
Proved developed reserves December December December December
31, 31, 31, 31,
1997 1998 1999 2000
December 31, 2001
All references to reserves are to the Company’s share of such reserves, net of any liquids that may be taken by third parties as royalties in kind.
26
CHANGES IN GAS RESERVES CONSOLIDATED SUBSIDIARIES
(in billions of cubic feet)
Europe
EQUITY TOTAL AFFILIATES GROUP & NON CONSOLIDATED
Africa
North America
Far East
Rest of world
Total Consolidated
7,302
2,360
705
6,139
921
17,427
1,590
19,017
157 326 58 (59) (676)
158 (14)
66 126 1 (216) (120)
356 93 (253)
83 13 24 (71)
820 558 83 (275) (1,134)
10 46 (43)
830 604 83 (275) (1,177)
7,108
2,504
562
6,335
970
17,479
1,603
19,082
520 553 (24) (625)
(62) (51)
(85) 189 (28) (94)
654 25 81 (312)
141 354 (50) (77)
1,168 1,121 81 (102) (1,159)
16 100 (54)
1,184 1,221 81 (102) (1,213)
7,532
2,391
544
6,783
1,338
18,588
1,665
20,253
510 97 2 (66) (654)
(135) 236 (122)
26 98 (45) (88)
8 109 (353)
176 734 (91)
585 1,274 2 (111) (1,308)
2 75 (67)
587 1,349 2 (111) (1,375)
7,421
2,370
535
6,547
2,157
19,030
1,675
20,705
122 118 (20) (675)
863 746 (134)
(5) 87 (81)
170 74 (407)
67 307 80 (104)
1,217 1,332 80 (20) (1,401)
97 (81)
1,314 1,332 80 (20) (1,482)
6,966
3,845
536
6,384
2,507
20,238
1,691
21,929
-
-
-
9 103 146
-
9 103 146
Proved developed and undeveloped reserves Balance as of December 31, 1997 Revisions of previous estimates Extensions, discoveries and other Acquisitions of reserves in place Sales of reserves in place Production for the year Balance as of December 31, 1998 Revisions of previous estimates Extensions, discoveries and other Acquisitions of reserves in place Sales of reserves in place Production for the year Balance as of December 31, 1999 Revisions of previous estimates Extensions, discoveries and other Acquisitions of reserves in place Sales of reserves in place Production for the year Balance as of December 31, 2000 Revisions of previous estimates Extensions, discoveries and other Acquisitions of reserves in place Sales of reserves in place Production for the year Balance as of December 31, 2001
Minority interest in proved developed and undeveloped reserves December 31, 1997 December 31, 1998 December 31, 1999
96 138
9 7 8
December 31, 2000
142
7
-
-
-
149
-
149
December 31, 2001
141
30
-
-
-
171
-
171
4,547 4,264 5,054 5,336
156 565 1,824 1,555
483 308 351 334
3,519 4,457 4,664 4,089
457 671 654 701
9,162 10,265 12,547 12,015
597 857 1,665 1,675
9,759 11,122 14,212 13,690
5,185
1,287
294
3,800
934
11,500
1,660
13,160
Proved developed reserves December December December December
31, 31, 31, 31,
1997 1998 1999 2000
December 31, 2001
All references to reserves are to the Company’s share of such reserves, net of any gas that may be taken by third parties as royalties in kind.
27
Upstream >>
CHANGES IN LIQUIDS AND GAS RESERVES CONSOLIDATED SUBSIDIARIES
(in millions of barrels of oil equivalent)
Europe
Africa
North America
Far East
Rest of world
EQUITY
Total AFFILIATES Consolidated & NON
TOTAL GROUP
CONSOLIDATED
Proved developed and undeveloped reserves Balance as of December 31, 1997 Revisions of previous estimates Extensions, discoveries and other Acquisitions of reserves in place Sales of reserves in place Production for the year Balance as of December 31, 1998 Revisions of previous estimates Extensions, discoveries and other Acquisitions of reserves in place Sales of reserves in place Production for the year Balance as of December 31, 1999 Revisions of previous estimates Extensions, discoveries and other Acquisitions of reserves in place Sales of reserves in place Production for the year Balance as of December 31, 2000 Revisions of previous estimates Extensions, discoveries and other Acquisitions of reserves in place Sales of reserves in place Production for the year Balance as of December 31, 2001
2,574
2,500
214
1,169
695
7,152
2,091
9,243
165 124 23 (28) (275)
158 237 (223)
16 24 (52) (27)
81 14 (55)
99 193 5 (69)
519 592 28 (80) (649)
(23) 92 (107)
496 684 28 (80) (756)
2,583
2,672
175
1,209
923
7,562
2,053
9,615
220 149 (4) (259)
265 204 (220)
(45) 62 (30) (21)
119 6 14 (66)
(67) 753 (54) (83)
492 1,174 14 (88) (649)
(21) 22 (2) (102)
471 1,196 14 (90) (751)
2,689
2,921
141
1,282
1,472
8,505
1,950
10,455
156 45 4 (51) (267)
233 308 (23) (228)
6 21 (15) (20)
23 19 (72)
147 189 (4) (80)
565 582 4 (93) (667)
12 14 (110)
577 596 4 (93) (777)
2,576
3,211
133
1,252
1,724
8,896
1,866
10,762
102 56 (7) (277)
416 225 3 (2) (223)
1 16 (17)
26 15 (80)
92 85 12 (95)
637 397 15 (9) (692)
(22) (110)
615 397 15 (9) (802)
2,450
3,630
133
1,213
1,818
9,244
1,734
10,978
-
-
-
83 103 121
-
83 103 121
Minority interest in proved developed and undeveloped reserves December 31, 1997 December 31, 1998 December 31, 1999
42 60
83 61 61
December 31, 2000
62
58
-
-
-
120
-
120
December 31, 2001
58
80
-
-
-
138
-
138
1,601 1,597 1,869 1,840
1,095 1,149 1,497 1,450
116 74 74 68
720 844 869 768
492 665 542 615
4,024 4,329 4,851 4,741
1,971 1,901 1,802 1,269
5,995 6,230 6,653 6,010
1,822
1,372
62
698
698
4,652
1,171
5,823
Proved developed reserves December December December December
31, 31, 31, 31,
1997 1998 1999 2000
December 31, 2001
All references to reserves are to the Company’s share of such reserves, net of any liquids or gas that may be taken by third parties as royalties in kind.
28
RESULTS OF OPERATIONS FOR OIL AND GAS PRODUCING ACTIVITIES The following table includes revenues and expenses associated directly with the Company’s oil and gas producing activities. It does not include any interest cost. In the Consolidated Financial Statements, the Company’s share of results of oil and gas producing activities for equity affiliates is reflected through internal billing in the Upstream operating income. (in millions of euros)
CONSOLIDATED SUBSIDIARIES
Europe
Africa
North America
Far East
Rest of world
Total Consolidated
1,722 1,628
65 2,097
191 116
439 73
190 370
2,607 4,284
Total Revenues Production costs Exploration expenses Depreciation, depletion and amortization and valuation allowances (1) Other expenses (2)
3,350 (793) (132) (1,219)
2,162 (608) (195) (1,444)
307 (92) (64) (127)
512 (87) (52) (75)
560 (157) (170) (273)
6,891 (1,737) (613) (3,138)
(92)
(185)
(16)
(2)
(71)
(366)
Pretax income from producing activities Income tax
1,114 (456)
(270) (257)
8 (19)
296 (159)
(111) (18)
1,037 (909)
658
(527)
(11)
137
(129)
128
1,138 2,396
156 3,058
109 154
716 125
427 706
2,546 6,439
Year ended December 31, 1998 Revenues Sales to unaffiliated parties Transfers to affiliated parties
Results of oil and gas producing activities Year ended December 31, 1999 Revenues Sales to unaffiliated parties Transfers to affiliated parties Total Revenues Production costs Exploration expenses Depreciation, depletion and amortization and valuation allowances (1) Other expenses (2)
3,534 (690) (103)
3,214 (597) (119)
263 (63) (85)
841 (162) (28)
1,133 (162) (142)
8,985 (1,674) (477)
(1,014) (82)
(734) (287)
(249) (12)
(104) (5)
(359) (120)
(2,460) (506)
Pretax income from producing activities Income tax
1,645 (830)
1,477 (898)
(146) 44
542 (267)
350 (113)
3,868 (2,064)
815
579
(102)
275
237
1,804
2,084 4,121
462 5,407
215 262
1,313 209
866 1,105
4,940 11,104
Results of oil and gas producing activities Year ended December 31, 2000 Revenues Sales to unaffiliated parties Transfers to affiliated parties Total Revenues Production costs (3) Exploration expenses Depreciation, depletion and amortization and valuation allowances (1) Other expenses (2)
6,205 (786) (58)
5,869 (531) (120)
477 (98) (156)
1,522 (156) (34)
1,971 (255) (150)
16,044 (1,826) (518)
(1,173) (71)
(898) (689)
(196) (16)
(160) (8)
(482) (204)
(2,909) (988)
Pretax income from producing activities Income tax
4,117 (2,358)
3,631 (2,255)
11 (115)
1,164 (561)
880 (340)
9,803 (5,629)
1,759
1,376
(104)
603
540
4,174
2,624 3,566
439 4,548
81 386
1,460 180
1,191 684
5,795 9,364
Results of oil and gas producing activities Year ended December 31, 2001 Revenues Sales to unaffiliated parties Transfers to affiliated parties Total Revenues Production costs Exploration expenses Depreciation, depletion and amortization and valuation allowances (1) Other expenses (2)
6,190 (782) (52)
4,987 (621) (144)
467 (119) (134)
1,640 (168) (16)
1,875 (268) (226)
15,159 (1,958) (572)
(1,225) (79)
(905) (554)
(206) (17)
(192) (15)
(455) (316)
(2,983) (981)
Pretax income from producing activities Income tax
4,052 (2,378)
2,763 (1,751)
(9) 76
1,249 (574)
610 (277)
8,665 (4,904)
1,674
1,012
67
675
333
3,761
Results of oil and gas producing activities
Company’s share of equity affiliates’ results of oil and gas producing activities Year ended December 31, 1998 Year ended December 31, 1999 Year ended December 31, 2000
104 136 279
Year ended December 31, 2001
335
Figures calculated according to Article 215: they may differ substantially from FAS 69. (1) Including a 874 M€ in 1998, 128 M€ in 1999 write-down following the application of FAS 121 standard and 30 M€ of other write-downs in 2000. (2) Production taxes. (3) Including 57 M€ of merger costs in 2000.
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COSTS INCURRED IN OIL AND GAS PROPERTY ACQUISITION, EXPLORATION AND DEVELOPMENT ACTIVITIES The following table shows the costs incurred in the Company’s oil and gas property acquisition, exploration and development activities: they include both capitalized and expensed amounts.
CONSOLIDATED SUBSIDIARIES
(in millions of euros)
Europe
Africa
North America
Far East
Rest of world
Proved property acquisition Unproved property acquisition Exploration costs Development costs
19 1 187 1,524
Total cost incurred
Total Consolidated
2 16 292 905
1 56 106 248
1 67 375
15 13 313 541
37 87 965 3,593
1,731
1,215
411
443
882
4,682
Proved property acquisition Unproved property acquisition Exploration costs Development costs
1 96 1,283
3 202 193 934
1 21 135 158
1 28 320
2 1 181 1,057
6 226 633 3,752
Total cost incurred
1,380
1,332
315
349
1,241
4,617
Proved property acquisition Unproved property acquisition Exploration costs Development costs
4 58 1,225
5 246 920
11 170 182
3 34 151
213 1,584
7 16 721 4,062
Total cost incurred
1,287
1,171
363
188
1,797
4,806
As of December 31, 2001 Proved property acquisition Unproved property acquisition Exploration costs Development costs
83 1,222
13 10 214 1,218
2 110 364
10 17 191
12 131 346 1,150
25 153 770 4,145
Total cost incurred
1,305
1,455
476
218
1,639
5,093
As of December 31, 1998
As of December 31, 1999
As of December 31, 2000
Company’s share of equity affiliates’ costs of property acquisition, exploration and development Year ended December 31, 1998 Year ended December 31, 1999 Year ended December 31, 2000
105 82 105
Year ended December 31, 2001
132
Up to year 2000, the development costs related to the upgrader of the Sincor heavy oil project in Venezuela used to be included in the capitalized and incurred costs displayed in the FAS 69 amounts. In 2001, TotalFinaElf has taken the position that these costs do not in fact fall into the FAS 69 perimeter and the corresponding amounts have been excluded. The amounts displayed for 1999 and 2000 have not been modified. The incurred costs related to the upgrader of the Sincor project in 2000 and 1999 amount respectively to 416 M€ and 339 M€. Excluding these amounts, the incurred costs would have totalled 1,381 M€ and 902 M€ instead of 1,797 M€ and 1,241 M€ for the “Rest of the World” zone, and 4,390 M€ and 4,728 M€ instead of 4,806 M€ and 4,617 M€ for the consolidated total.
30
CAPITALIZED COST RELATED TO OIL AND GAS PRODUCING ACTIVITIES Capitalized costs represent the amounts of capitalized proved and unproved property costs, including support equipment and facilities, along with the related accumulated depreciation, depletion and amortization.
(in millions of euros)
CONSOLIDATED SUBSIDIARIES Europe
Africa
North America
Far East
Rest of world
Total Consolidated
20,526 804 21,330
11,324 587 11,911
1,652 339 1,991
1,511 54 1,565
2,646 277 2,923
37,659 2,061 39,720
(13,872)
(7,297)
(1,230)
(400)
(994)
(23,793)
7,458
4,614
761
1,165
1,929
15,927
24,613 97 24,710
14,226 786 15,012
1,809 413 2,222
2,221 60 2,281
3,969 186 4,155
46,838 1,542 48,380
(16,143)
(9,141)
(1,429)
(610)
(1,155)
(28,478)
8,567
5,871
793
1,671
3,000
19,902
23,072 127 23,199
16,276 996 17,272
1,693 303 1,996
2,595 38 2,633
5,848 279 6,127
49,484 1,743 51,227
(14,916)
(10,701)
(1,315)
(818)
(1,747)
(29,497)
8,283
6,571
681
1,815
4,380
21,730
23,637 149 23,786
18,149 1,065 19,214
1,964 247 2,211
2,512 50 2,562
6,919 458 7,377
53,181 1,969 55,150
(16,088)
(12,442)
(1,348)
(771)
(3,071)
(33,720)
7,698
6,772
863
1,791
4,306
21,430
As of December 31, 1998 Proved properties Unproved properties Total capitalized costs Accumulated depreciation, depletion and amortization Net capitalized costs
As of December 31, 1999 Proved properties Unproved properties Total capitalized costs Accumulated depreciation, depletion and amortization Net capitalized costs
As of December 31, 2000 Proved properties Unproved properties Total capitalized costs Accumulated depreciation, depletion and amortization Net capitalized costs
As of December 31, 2001 Proved properties Unproved properties Total capitalized costs Accumulated depreciation, depletion and amortization Net capitalized costs
Company’s share of equity affiliates’ net capitalized costs Year ended December 31, 1998 Year ended December 31, 1999 Year ended December 31, 2000
547 629 752
Year ended December 31, 2001
853
Figures calculated according to Article 215: they may differ substantially from FAS 69. Up to year 2000, the development costs related to the upgrader of the Sincor heavy oil project in Venezuela used to be included in the capitalized and incurred costs displayed in the FAS 69 amounts. In 2001, TotalFinaElf has taken the position that these costs do not in fact fall into the FAS 69 perimeter and the corresponding amounts have been excluded. The amounts displayed for 1999 and 2000 have not been modified. The capitalized costs related to the upgrader of the Sincor project in the “Rest of the World” zone for 2000 and 1999 amount respectively to 878 M€ and 462 M€. These amounts also include the capitalized costs related to 1997 and 1998. Excluding these amounts, the net capitalized costs would have totalled 3,502 M€ and 2,538 M€ instead of 4,380 M€ and 3,000 M€ for the “Rest of the World” zone, and 20,852 M€ and 19,440 M€ instead of 21,730 M€ and 19,902 M€ for the consolidated total.
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STANDARDIZED MEASURE OF DISCOUNTED FUTURE NET CASH FLOW (in millions of euros)
(excluding transportation)
CONSOLIDATED SUBSIDIARIES Europe
Africa
North America
Far East
Rest of world
Total Consolidated
As of December 31, 1999 Future cash inflows Future production costs Future development costs Futur net cash flows, before income taxes Future income taxes Future net cash flows, after income taxes Discount at 10%
48,743 (9,366) (4,044) 35,333 (19,798) 15,535 (5,583)
66,389 (11,951) (8,647) 45,791 (28,491) 17,300 (8,217)
2,271 (357) (496) 1,418 (320) 1,098 (421)
21,659 (2,935) (1,918) 16,806 (7,418) 9,388 (4,864)
29,240 (6,554) (3,751) 18,935 (5,934) 13,001 (7,153)
168,302 (31,163) (18,856) 118,283 (61,961) 56,322 (26,238)
9,952
9,083
677
4,524
5,848
30,084
55,763 (6,983) (3,947) 44,833 (24,510) 20,323
66,026 (12,219) (9,196) 44,611 (27,969) 16,642
5,779 (290) (680) 4,809 (1,318) 3,491
23,464 (3,508) (2,340) 17,616 (7,809) 9,807
32,918 (8,110) (3,047) 21,761 (10,043) 11,718
183,950 (31,110) (19,210) 133,630 (71,649) 61,981
Discount at 10%
(7,958)
(8,014)
(1,159)
(5,034)
(6,271)
(28,436)
Net cash flows
12,365
8,628
2,332
4,773
5,447
33,545
48,279 (7,628) (5,691) 34,960 (19,818) 15,142 (4,909)
60,535 (12,452) (10,687) 37,396 (22,449) 14,947 (7,464)
2,356 (478) (741) 1,137 (106) 1,031 (434)
20,072 (3,386) (2,776) 13,910 (6,281) 7,629 (3,779)
25,636 (7,183) (2,964) 15,489 (4,271) 11,218 (5,587)
156,878 (31,127) (22,859) 102,892 (52,925) 49,967 (22,173)
10,233
7,483
597
3,850
5,631
27,794
Net cash flows
As of December 31, 2000 Future cash inflows Future production costs Future development costs Futur net cash flows, before income taxes Future income taxes Future net cash flows, after income taxes
As of December 31, 2001 Future cash inflows Future production costs Future development costs Futur net cash flows, before income taxes Future income taxes Future net cash flows, after income taxes Discount at 10% Net cash flows
Company’s share of equity affiliates’ future net cash flows as of Year ended December 31, 1999 Year ended December 31, 2000
1,751 2,511
Year ended December 31, 2001
2,247
Figures calculated according to Article 215: they may differ substantially from FAS 69. The standardized measure of discounted future net cash flows from production of proved reserves was developed as follows: - Current prices: the estimated future cash flows are determined based on prices as at December 31. - Current production and development costs: the future costs pertaining to production of proved reserves are determined assuming constant year-end technical and economic conditions. The production costs include production taxes unlike table Results of operations. - Income taxes: the estimated taxes are computed according to the existing local tax laws at year-end and take into consideration the permanent differences and future income tax credits. - Discount rate: the future net cash flows are discounted at the standard 10% rate. These applicable principles are the ones required by the FAS 69, and do not necessarily reflect the expectations of real revenues from these reserves, nor their present value: hence, they do not constitute criteria of investment decision. A better estimate of the present value of reserves should also take into account, among other things, the recovery of reserves not presently classified as proved, anticipated futures changes in prices and costs and a discount factor more representative of the time value of money and the risks inherent in reserves estimates.
32
CHANGES IN THE STANDARDIZED MEASURE OF DISCOUNTED FUTURE NET CASH FLOWS 2001
2000
1999
33,545
30,084
9,284
Sales and transfers, net of production costs and other expenses
(12,220)
(13,250)
(7,174)
Net change in sales and transfer prices, net of production costs and other expenses
(11,190)
11,867
30,796
Extensions, discoveries and improved recovery, net of future production and development costs
932
2,065
6,945
Changes in estimated future development costs
(in millions of euros)
Beginning of the year Consolidated
(2,285)
(1,019)
(2,570)
Previously estimated development costs incurred during the year
4,145
4,062
2,885
Revisions of previous quantity estimates
(235)
1,965
3,416
3,355
3,008
1,198
11,734
(4,688)
(19,326)
Accretion of discount Net change in income taxes Purchases of reserves in place
(5)
76
3,040
Sales of reserves in place
18
(625)
(313)
-
-
1,903
27,794
33,545
30,084
Changes in production rates (timing) and other End of year
33
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MAIN PRODUCING FIELDS at December 31, 2001
Year of entry into the country
Group financial interest in the local entity
Main-Group-operated fields in production (Group share %)
Main non-Group-operated fields in production (Group share %)
Liquids or Gas
Europe France
1939
EAEPF (99.9%)
Lacq (100%)
L, G
United Kingdom
1962
TotalFinaElf Exploration UK (99.8%) Elf Exploration UK (99.8%) Fina Exploration Ltd (99.6%)
Alwyn N., Dunbar, Ellon, Grant (100%) Nuggets (100%) Elgin-Franklin (46.2%)
L, G G L, G L, G L G L, G G L
Bruce (43.3%) Mallard (23.8%) Markham unitized field (7.4%) ETAP (Mungo, Monan) (12.4%) Armada (12.5%) Alba (12.7%) Nelson (11.5%) Norway
1965
TotalFinaElf Exploration Norge AS (100%)
Froy (40%)
L, G
Frigg (37.8%)
Netherlands
1964
TotalFinaElf E&P Nederland BV (100%)
Heimdal (26.3%) Ekofisk (39.9%) Eldfisk (39.9%) Oseberg (8.7%) Veslefrikk (18%) Troll (3.7%) Aasgard (7.7%) Snorre (5.95%) Valhall (15.7%) Sleipner (9.41%) Tordis (5.6%) Glitne (21.8%)
G G L, G L, G L, G L L, G L, G L L G L L
Huldra (24.33%)
L, G
Zuidwal (42.2%) Leeuwarden (92.8%) Harlingen (92.8%) L7 (56.2%) K6 (44.3%) L4a (55.6%) F15aA (32.5%) K4a (50%) K5a-K4b (26%) J3a (30%)
G G G G G G G G G G Markham unitized field (14.7%)
34
L
G
Year of entry into the country
Group financial interest in the local entity
Main-Group-operated fields in production (Group share %)
Main non-Group-operated fields in production (Group share %)
Liquids or Gas
Africa Algeria
1952
TotalFinaElf E&P Algérie (99.9%)
Gabon
1928
Elf Gabon (57.9%)
Tin Fouye Tabankort (35%) Hamra (100%) Avocette, Coucal (57.5%) Hylia, Vanneau (75%) Anguille, Torpille (100%) Gonelle (100%) Atora (40%)
L L L L L L
Baudroie Marine (50%)
L
Rabi (47.5%) Elf Aquitaine Gabon (100%)
Nigeria
1962
Total Upstream Nigeria (99.7%) Elf Petroleum Nigeria Ltd. (99.7%)
OML 57 (40%), OML 100 (40%), OML 102 (40%) OML 58 (40%)
Congo
1928
Elf Congo SA (99.4%)
Likouala (65%) Tchibouela (65%) Tchendo (65%) Yanga (55.3%) Sendji (55.3%) Nkossa (51%)
Angola
mid-1960s
TotalFinaElf E&P Angola (99.7%) Total Angola (99.7%) Elf Petroleum Angola (99.7%) Fina Exploration M’Bridge BV (100%)
1951
TotalFinaElf E&P Cameroun (75.4%)
Ekoundou (15.3%) Kombo (15.3%)
Libya
1959
TotalFinaElf E&P Libye (99.7%)
Mabruk (75%)
L, G
Loango (50%)
L L, G L L L L L
Zatchi (35%)
L
Kuito (Block 14) (20%) Block 2-85 (27.5%)
L L L L
Cabinda offshore (Block 0) (10%)
L L L
Mokoko (7%)
TotalFinaElf E&P USA (100%)
L L
El Sharara (7.5%)
1964
L L, G
SPDC fields (10%)
Girassol (Block 17) (40%) Blocks 3-80, 3-85, 3-91 (50%)
Cameroon
North America USA
L, G L
Virgo (64%) MacAllen-Pharr (97.3%) Slick Ranch (90.1%) Maben (47%) Bethany (87%)
L(1)
L, G G L, G G L, G MacAllen-Ranch (18.9%)
G
(1) TotalFinaElf has a 30% interest in the foreign investment group which has a 25% interest in production.
35
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Year of entry into the country
Group financial interest in the local entity
Main-Group-operated fields in production (Group share %)
Main non-Group-operated fields in production (Group share %)
Liquids or Gas
Far East Indonesia
1968
TotalFinaElf E&P Indonésie (100%)
Handil (50%) Bekapai (50%) Peciko (50%) Tambora/Tunu (50%) Nilam (9.3%)
Myanmar
1992
TotalFinaElf E&P Myanmar (99.7%)
Yadana (31.2%)
Thailand
1990
TotalFinaElf E&P Thailand (99.7%)
Brunei
1987
TotalFinaElf EP Borneo BV (99.8%)
Maharaja Lela Jamalulalam (51.7%)
Syria
1988
TotalFinaElf E&P Syria (100%)
Jafra / Qahar (50%)
Qatar
1938
TotalFinaElf E&P Qatar (99.4%)
Al Khalij (55%)
L, G L, G L, G L, G L, G G
Bongkot (33.3%)
L, G L, G
Middle East
Total Qatar Oil & Gas (99.7%) Iran
1954
Total Sirri (100%)
Dubai
1954
Total Service Golfe (99.8%) Dubai Marine Areas (50%)
Yemen
1987
TotalFinaElf E&P Yemen (100%)
L L North Field (20%)
Sirri (60%)
L (3) Dubai offshore (27.5%)
Kharir (27.5%)
Total A.B.K. (99.7%) ADMA (33.3%)
Abu Al Bu Khoosh (75%)
L
Abu Dhabi offshore (13.3%)
L L (5)
ADPC (23.8%)
Abu Dhabi onshore (9.5%)
L (6)
1937
POHOL (10%) Total Oman (100%)
Various fields onshore (4%)
L (7)
Bolivia
1995
Total E.P. Bolivie (100%)
San Alberto (15%)
L, G
Colombia
1973
Tepma Colombie (99.8%)
Cusiana (19%)
L, G
Oman
1936
L (4) L
Jannah permit (Block 5) (15%) Abu Dhabi
L, G (2)
South America
Venezuela Argentina
1981
Total EP Venezuela (99.6%)
Cupiagua (19%)
L
Zuata (Sincor) (47%)
L
Jusepin (55%)
1978
Total Austral (99.7%)
Aguada Pichana (27.3%) San Roque (24.7%) Canadon Alfa (37.5%) Hidra (37.5%) Argo (37.5%)
1989
Total E.P. Russie (99.7%)
Kharyaga (50%)
L L, G L, G L, G L L
Other Russia (2) (3) (4) (5) (6) (7)
36
TotalFinaElf has a 20% interest in Qatargas upstream and a 10% interest in the Qatargas LNG facility. TotalFinaElf is the operator of the development of the Sirri A and E fields with a 60% interest in the foreign consortium. 25% indirect interest via Dubai Marine Areas (equity affiliate) plus 2,5% direct interest via Total Service Golfe. Via ADMA (equity affiliate), TotalFinaElf has a 13,33% interest and participates in the operating company, Abu Dhabi Marine Operating Company. Via ADPC (equity affiliate), TotalFinaElf has a 9,5% interest and participates in the operating company, Abu Dhabi Company For Onshore Oil Operation. Via POHOL (equity affiliate), TotalFinaElf has a 4% interest in the operator, Petroleum Development Oman LLC. TotalFinaElf also has a 5,54% interest in the Oman LNG facility.
L
OIL AND GAS ACREAGE 2001
(thousands of acres at year-end)
Undeveloped acreage (1)
2000 Developed acreage
Undeveloped acreage (1)
Developed acreage
Europe
Gross Net
13,139 4,959
818 202
15,696 6,167
1,435 277
Africa
Gross Net
116,884 67,538
1,172 290
74,265 22,740
370 154
North America
Gross Net
2,602 912
122 30
3,814 1,329
20 6
Far East
Gross Net
16,071 8,105
833 206
20,424 12,506
555 208
Rest of world
Gross Net
73,056 16,915
497 123
51,690 19,544
1,439 306
Total
Gross Net (2)
221,752 98,429
3,442 851
165,889 62,286
3,819 951
(1) Undeveloped acreage includes leases and concessions. (2) Net acreage equals the sum of the Company’s fractional interests in gross acreage.
NUMBER OF PRODUCTIVE OIL AND GAS WELLS 2001
(units at year-end)
Gross wells capable of producing
2000 Net wells capable of producing (1)
Gross wells capable of producing
Net wells capable of producing (1)
Europe
Oil Gas
445 477
171 211
556 398
186 164
Africa
Oil Gas
2,313 77
710 35
2,549 16
729 10
North America
Oil Gas
82 439
11 242
83 661
24 343
Far East
Oil Gas
260 381
207 171
203 601
86 157
Rest of world
Oil Gas
387 209
83 61
139 148
64 36
Total
Oil Gas
3,487 1,583
1,182 720
3,530 1,824
1,089 710
(1) Net wells equal the sum of the Company’s fractional interests in gross acreage.
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NUMBER OF NET OIL AND GAS WELLS DRILLED ANNUALLY The following table shows the net productive and dry exploratory and development oil and gas wells completed or abandoned by the Group in 2001. Productive wells include wells in which hydrocarbons were found, and the drilling or completion of which, in the case of exploratory wells, has been suspended pending drilling or evaluation. A dry well is one found to be incapable of producing in sufficient quantities to justify completion.
2001 Net productive Net dry wells drilled wells drilled
(units, at year-end)
Exploratory
Europe Africa North America Far East Rest of world
Development
Europe Africa North America Far East Rest of world
Total
Total Total
0.4 3.2 1.6 2.7
2.1 5.1 3.1 1.0 1.5
Net total wells drilled 2.5 8.3 4.7 1 4.2
2000 Net productive Net dry wells drilled wells drilled 0.7 4.9 1.0 2.0 0.7
0.6 1.5 1.4 0.4 0.5
Net total wells drilled 1.3 6.4 2.4 2.4 1.2
7.9
12.8
20.7
9.3
4.4
13.7
26.9 39.1 46.6 14.8 50.5
0.1 -
26.9 39.2 46.6 14.8 50.5
16.1 13.2 43.6 14.9 67.4
0.1 1.6 0.1
16.2 14.8 43.6 14.9 67.5
177.9
0.1
178.0
155.2
1.8
157.0
185.8
12.9
198.7
164.5
6.2
170.7
DRILLING AND PRODUCTION ACTIVITIES IN PROGRESS The following table shows the number of exploratory and development wells in the process of being drilled by the Group at December 31, 2001.
2001
(units at year-end)
Exploratory
Development
Total
38
2000
Gross
Net
Gross
Net
3.0 8.0 6.0
0.6 2.4 2.2
5.0 3.0 6.0
1.0 1.9 1.7
Total
17.0
5.2
14.0
4.6
Europe Africa North America Far East Rest of world
6.0 3.0 6.0 25.0 38.0
1.3 1.2 4.6 9.2 17.3
33.0 7.0 6.0 8.0 9.0
9.2 2.6 3.8 2.5 3.5
Total
78.0
33.6
63.0
21.6
95.0
38.8
77.0
26.2
Europe Africa North America Far East Rest of world
LIQUIFIED NATURAL GAS (LNG) SALES* 2001
2000
1999
1998
Abu Dhabi (ADGAS) (1) Qatar (QATARGAS) (2) Oman Indonesia Nigeria (2)
270 725 321 3,727 851
262 685 128 3,771 693
261 578 3,433 26
275 359 3,086 -
Total
5,894
5,539
4,298
3,720
(in mt/year)
* Group’s share (1) Cost method (2) Equity method
LNG POSITIONS
Snohvit LNG (project) TotalFinaElf: 18.4% Main long term contracts Spot sales LNG Plant (project) Capacity TotalFinaElf interest
Pars LNG (project) TotalFinaElf: 36%
Qatargas 7.7 Mt/y TotalFinaElf: 10%
Adgas 5.6 Mt/y TotalFinaElf: 5%
Nigeria LNG 9 Mt/y TotalFinaElf: 15%
North America
Oman LNG 6.6 Mt/y TotalFinaElf: 5.54% Bontang Indonesia 22.2 Mt/y TotalFinaElf supply to LNG plant 31% in 2001
Angola LNG (project) TotalFinaElf: 12%
Yemen LNG (project) TotalFinaElf: 36%
39
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INTERESTS IN PIPELINES Pipeline(s)
Origin
Destination
% Interest
TotalFinaElf operator
Oil
Gas
As of December 31, 2001
NORWAY Statpipe Zeepipe I Zeepipe IIA Zeepipe IIB Europipe I Aasgard Transport Europipe II Franpipe Norpipe a.s. Oseberg Gas Transport: OGT Vesterled Frostpipe Oseberg Transport System Norpipe Oil Troll Oil Pipeline I and II
UNITED KINGDOM Frigg System: UK line
40
√ √ √ √ √ √ √ √ √ √ √
Heimdal and other fields Sleipner Troll Troll Draupner Aasgard Kaarsto Gas Plant Draupner Ekofisk Treatment center Oseberg Heimdal and Frigg fields Lille-Frigg, Froy Oseberg, Brage and Veslefrikk Ekofisk Treatment center Troll B and C
Norpipe a.s. Zeebrugge (Belgium) Sleipner Draupner Dornum/Emden (Germany) Kaarsto Gas Plant Dornum/Emden (Germany) Dunkirk (France) Emden (Germany) Heimdal St. Fergus (Scotland) Oseberg Sture Teeside (UK) Vestprocess at Mongstad Refinery
12.00 4.60 4.60 4.60 4.60 7.65 5.91 5.05 20.86 9.71 11.48 36.24 8.65 34.93 3.70
Frigg, Alwyn North, Froy, Bruce, Lille-Frigg and others Bacton Elgin Franklin
St.Fergus (Scotland)
100.00
√
√
√ √ √ √
√ √
Interconnector Central Graben Liquid Export Line (LEP) Shearwater Elgin Area Line (SEAL) Elgin Franklin, Shearwater
Zeebrugge (Belgium) ETAP
10.00 46.17
Bacton
25.73
√
NETHERLANDS Nogat pipeline West Gas Transport WGT Extension Zuidwal pipeline Oldelamer pipeline
F15A K13A-K4K5 Markham Zuidwal Oldelamer
Den Helder Den Helder K13-K4K5 Harlingen Terminal Garijp Terminal
23.19 4.48 23.00 42.20 42.25
√ √ √ √ √
SOUTH AMERICA Transierra Gas Andes Ocensa TBG TGN TGM TSB (Project)
Yacuiba (Bolivia) Neuquen Basin (Argentina) Cusiana, Cupiagua (Colombia) Bolivia-Brazil border Network (North Argentina) TGN TGM (Uruguaïana)
Rio Grande (Bolivia) Santiago (Chile) Covenas Terminal (Colombia) Porto Alegre via Sao Paulo
√ √
Uruguaïana (Brazil) TBG (Porto Alegre)
11.00 56.50 15.20 9.67 19.22 32.68 25.00
√ √
√ √ √ √
ASIA Yadana
Yadana (Myanmar)
Ban-I Tong (Thai border)
31.20
√
√
FRANCE GSO CFM
Network South West Network Center West
70.00 45.00
√
√ √
√
√ √
GAS & POWER ACTIVITY IN EUROPE
Gas terminal
Alwyn
Pipeline with TotalFinaElf interest
Troll
Gas production
Heimdal
Power generation with TotalFinaElf interest
Frigg
Karsto Sleipner
Piper St. Fergus
Ekofisk Elgin/Franklin Humber Power Plant Interconnector 40%
Interconnector 10%
Emdem Bacton
Den Helder Zeebrugge
TotalFinaElf Gas & Power UK 100%
Dunkirk
Gaz de Strasbourg
CFM
25%
45% Gaz de Bordeaux 16%
Izaute Lussagnet storage 100%
Cepsa 45.3% Cepsa Gas Comercializadora
GSO 70%
JV.w/Cepsa 50/50
PIPELINE GAS SALES (Mcf/d)
France United Kingdom Norway Netherlands Italy Africa North America Indonesia* Myanmar Thailand Brunei Argentina Colombia Bolivie Total
2001
2000
1999
1998
159 701 501 399 3 36 222 57 126 189 51 251 3 15
161 709 451 409 7 141 238 52 43 177 47 219 2
169 738 395 376 8 45 255 41 1 188 27 185 2
186 822 619 381 18 40 351 40 127 166 2
2,713
2,656
2,430
2,752
* Domestic sales
41
Upstream >>
POWER GENERATION FACILITIES Interest
Capacity *
Fuel
United Kingdom Humber Power
40.00%
1,260 MW
Gas
Argentina Central Puerto Piedra del Aguila
63.94% 41.31%
2,165 MW 1,400 MW
Gas Hydro
* Capacity stated at 100%
GAS & POWER ACTIVITY IN SOUTH AMERICA
Ocensa 15.2%
Bolivia - Brazil 9.7%
TGM TGN
32.7%
19.2% Gasandes 56.5%
TSB (project) 25%
Central Puerto 63.9% Piedra del Aguila 41.3%
Production with TotalFinaElf interest Gas pipeline with TotalFinaElf interest Other gas pipeline Power generation with TotalFinaElf interest Gas basin
42
a bia Ve ezuela C n
ri b
b
a zi
lo m
l B olivia A gentina r
ea ns
ic
Co
Br
ex
o
ea
fM G u lf o
East M ddle yan Mi m
nd Brunei a il a Ind Th r o a
a se
Al g
m
ia
Syria Gulf of Gu ine aC as pi
sia ne
Nort hs ea
er
ya Lib
an
Upstream
a
.. . s p
North Sea Algeria – Libya Syria Gulf of Guinea Caspian sea Middle East Myanmar – Thailand Brunei – Indonesia Gulf of Mexico – Colombia Venezuela – Caribbean sea Brazil – Bolivia Argentina
43
Upstream >>
NORTH SEA (United Kingdom – Southern Norway)
Snorre
Troll Alwyn area
NORWAY NORWAY
Oseberg
Bruce
NORTH SEA
Sleipner
Ekofisk Elgin/Franklin
TotalFinaElf Operator TotalFinaElf Partner Alwyn
UNITED UNITED KINGDOM KINGDOM
44
0
Main Field
100
200 km
NORTH SEA (Northern Norway – The Netherlands)
TotalFinaElf Operator TotalFinaElf Partner Aasgard Field 0
450
900 km
SWEDEN NORWAY SEA
NORTH SEA J3 Aasgard J6
L4 Leeuwarden K4
K6
Gorredjik Slootdorp NORWAY
Harderwijk
Steenwijk
AMSTERDAM 0
100
200 km
THE NETHERLANDS GERMANY
BELGIUM BRUSSELS
45
Upstream >>
ALGERIA – LIBYA
TotalFinaElf Operator TUNIS
TotalFinaElf Partner Mabruk
0
Field
175
350 km
137 N 137 S
MEDITERRANEAN SEA
TRIPOLI
Hamra Mabruk
NC 190 Tin Fouye Tabankort
NC 186
NC 192 NC 115 (Murzuk)
ALGERIA
NC 191
LIBYA
NC 187
SYRIA (Deir Ez Zor) 40° Atallah North Tabiyeh
Jafra Da Lawaz East IRAQ
Al-Mazra’a Chibli Da
SYRIA
Qahar Da Marad Da 0
46
25
50 km
Shaytat Da
GULF OF GUINEA
LAGOS
TotalFinaElf Operator
NIGERIA
TotalFinaElf Partner
Obagi (Obite) Girassol Field
EA 0
200
400 km
Bonga YAOUNDÉ MALABO
CAMEROON
Ofon Amenam OPL 246
EQUAT. EQUAT. GUINEA GUINEA
LIBREVILLE
GABON
Rabi Kounga
GULF OF GUINEA
Atora
CONGO Anton Marin
N’kossa
Olonga Astrid Marin
CABINDA
CONGO (DR) Haute Mer Mer Très Profonde Sud Block 14 Block 31
Kuito
Block 32 Block 17 Block 33
Block 19
ANGOLA Girassol LUANDA
47
Upstream >>
CASPIAN SEA (Kazakhstan - Azerbaijan)
Kashagan RUSSIA KAZAKHSTAN
CASPIAN SEA
TURKMENISTAN Absheron AZERBAIJAN
BAKU
Shah-Deniz
TotalFinaElf Operator TotalFinaElf Partner
Lenkoran Talysh
IRAN
48
Shah-Deniz Main Field
0
400
800 km
MIDDLE EAST
TotalFinaElf Operator TotalFinaElf Partner
Dorood Field
South Pars
0
300
600 km
IRAN PERSIAN GULF South Pars
Balal Sirri A
North Field Alkalij
Sirri E
Adma Doha
Abu Al Bukhoosh
Dubaï
QATAR Adma A
Duma
Adma West Abu Dhabi
Adco
SAUDI ARABIA
OMAN
U.A.E.
Muscat
30°
OMAN
SAUDI ARABIA
OMAN SEA
East Shabwa
Block 6
0
250
500 km
YEMEN
49
Upstream >>
MYANMAR – THAILAND
LAOS MYANMAR
RANGOON
THAILAND
M-05
M-06
BANGKOK
CAMBODGE
VIETNAM
Bongkot
INDIAN OCEAN
CHINA SEA
TotalFinaElf Operator TotalFinaElf Partner Bongkot Field
0
50
MALAYSIA 300
600 km
BRUNEI
CHINA SEA
0
17,5
35 km
Maharaja Lela
MALAYSIA
BANDAR SERI BEGAWAN
0
300
600 km
BRUNEI Brunei CHINA SEA
Mahakam Area
INDIAN OCEAN
INDONESIA
INDONESIA (Mahakam area)
INDONESIA (Kalimatan)
Donggala
Tunu Saliki
SAMARINDA
Tambora Sisi/Nubi Handil
Peciko
STRAIT OF MACASSAR Tengah TotalFinaElf Operator Tunu
Bekapai 0
15
Field 30 km
South Mahakam
51
Upstream >>
GULF OF MEXICO
FLORIDA LOUISIANA TEXAS HOUSTON
NEW ORLEANS
Virgo
Aconcagua
Matterhorn
Camden Hills
GULF OF MEXICO
0
TotalFinaElf Operator TotalFinaElf Partner Virgo
Field
COLOMBIA CARIBBEAN SEA Sinu
VENEZUELA COLOMBIA
San Miguel
Capachos
Mundo Nuevo Tangara
Santiago de las Atalayas 1
Tauramena PACIFIC OCEAN
BOGOTA
Rio Chitamena Gaitanas Guadalupe
EQUATOR
52
0
150
300 km
150
300 km
VENEZUELA – CARIBBEAN SEA
TotalFinaElf Operator
BARBADOS
TotalFinaElf Partner Sincor 0
Field 150
300 km
Barbados Offshore CARIBBEAN SEA Jusepin
Yucal Placer
Block 2 C
ATLANTIC OCEAN
CARACAS
TRINIDAD AND TOBAGO VENEZUELA Sincor
53
Upstream >>
BRAZIL
BFZ-2 ATLANTIC OCEAN
BRAZIL
BRASILIA
BOLIVIA 0
300
BC-2 BM-C-14 Rio Hondo LA PAZ
BOLIVIA
TotalFinaElf Operator TotalFinaElf Partner Aquio
Aquio
San Antonio
Block XX San Alberto 0
100
200 km
ARGENTINA
54
Field
600 km
ARGENTINA
San Roque
NEUQUEN
CHILE Aguada Pichana
PACIFIC OCEAN
ARGENTINA
ATLANTIC OCEAN
FALKLANDS (GB) CAA-39 Argo Canadon Alfa
CAA-40
TotalFinaElf Operator
Hidra
TotalFinaElf Partner
CAA-46
Canadon Field Alfa
USHUAIA 0
300
600 km
55
