8 History of the share capital (Since January 1, 2004) 2004 May 6, 2004 Certification of the subscription to 3,434,830 new shares in connection with the capital increase reserved for Group employees approved by the Board of Directors on November 6, 2003, raising the share capital by 34,348,300 euros, from 6,491,182,360 euros to 6,525,530,660 euros. November 9, 2004 Reduction of the share capital from 6,525,530,660 euros to 6,326,791,340 euros, through the cancellation of 19,873,932 treasury shares, par value 10 euros per share, effective November 20, 2004. January 11, 2005 Certification of the issue of 2,335,974 new shares, par value 10 euros per share, between January 1 and December 31, 2004, raising the capital by a total of 23,359,740 euros from 6,326,791,340 euros to 6,350,151,080 euros (including 950 new shares from the exercise of the Company’s stock options, and 2,335,024 new shares from the exchange of 1,597,648 shares of Elf Aquitaine stock resulting from the exercise of Elf Aquitaine stock options and eligible for a guaranteed exchange for TOTAL shares). 2005 July 19, 2005 Reduction of the share capital from 6,350,151,080 euros to 6,214,875,300 euros, through the cancellation of 13,527,578 treasury shares, par value 10 euros per share. November 3, 2005 Reduction of the share capital from 6,214,875,300 euros to 6,139,395,400 euros, through the cancellation of 7,547,990 treasury shares, par value 10 euros per share, effective November 22, 2005. January 10, 2006 Certification of the issue of 1,176,756 new shares, par value 10 euros per share, between January 1 and December 31, 2005, raising the capital by a total of 11,767,560 euros from 6,139,395,400 euros to 6,151,162,960 euros (representing 133,257 new shares issued through the exercise of the Company’s stock options and 1,043,499 new shares through the exchange of 713,973 shares of Elf Aquitaine stock resulting from the exercise of Elf Aquitaine stock options and eligible for a guaranteed exchange for TOTAL shares). 2006 March 22, 2006 Certification of the subscription to 2,785,330 new shares, par value 10 euros per share, in connection with the capital increase reserved for Group employees approved by the Board of Directors on November 3, 2005, raising the share capital by 27,853,300 euros, from 6,151,162,960 euros to 6,179,016,260 euros. May 18, 2006 Certification of the issue of 76,769 new shares, par value 10 euros per share, between January 1 and April 25, 2006, raising the capital by a total of 767,690 euros from 6,179,016,260 euros to 6,179,783,950 euros (representing 45,305 new shares issued through the exercise of the Company’s stock options and 31,464 new shares through the exchange of 21,528 shares of Elf Aquitaine stock resulting from the exercise of Elf Aquitaine stock options and eligible for a guaranteed exchange for TOTAL shares). Pursuant to the decision of the Shareholders’ General Meeting of May 12, 2006, reduction of the par value from 10 euros to 2.5 euros following the four-for-one stock split. Consequently, the number of shares increased from 617,978,395 to 2,471,913,580, the total share capital remains unchanged at 6,179,783,950 euros. July, 18, 2006 Reduction of the share capital from 6,179,783,950 euros to 6,062,233,950 euros, through the cancellation of 47,020,000 treasury shares, par value 2.50 euros per share. 158 General information Share capital TOTAL – <strong>Registration</strong> Document 2006
General information Share capital January 10, <strong>2007</strong> Certification of the issue of 874,373 new shares, par value 2.50 euros per share, between May 24 and December 31, 2006, raising the capital by a total of 2,185,932.50 euros from 6,062,233,950 euros to 6,064,419,882.50 euros (representing 668,099 new shares issued through the exercise of the Company’s stock options and 206,274 new shares through the exchange of 34,379 shares of Elf Aquitaine stock resulting from the exercise of Elf Aquitaine stock options and eligible for a guaranteed exchange for TOTAL shares). <strong>2007</strong> January 10, <strong>2007</strong> Reduction of the share capital from 6,064,419,882.50 euros to 5,981,907,382.50 euros, through the cancellation of 33,005,000 treasury shares, par value 2.50 euros per share. 8 TOTAL – <strong>Registration</strong> Document 2006 159
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Registration Document 2006
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Registration Document 2006 This is
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Key figures Selected financial info
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116,842 Key figures Operating and m
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Refined product sales including Tra
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Business overview History and strat
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Upstream TOTAL’s Upstream segment
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Exploration & Production Exploratio
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Production For the full year 2006,
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Presentation of production activiti
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Europe Business overview Exploratio
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Africa TOTAL has been present in Af
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this zone through its subsidiaries
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North America Since 2004, TOTAL has
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Trinidad & Tobago TOTAL holds a 30%
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TOTAL also has a 50% interest in th
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Europe TOTAL’s production in Euro
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K6-GT platform, in anticipation of
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The Group also holds a 20% interest
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Gas & Power The Gas & Power divisio
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Asia Pacific The Hazira re-gasifica
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In Morocco, Temasol, in which TOTAL
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Refining & Marketing As of December
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Refined products The table below se
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capacity oil recycling plant in Fra
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In 2006, the principal market bench
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Base Chemicals TOTAL’s Base Chemi
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Specialties TOTAL’s Specialties s
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Investments Main investments made o
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Property, Plant and Equipment TOTAL
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Board of Directors Executive Commit
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Management Report of the Board of D
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Market environment 2006 2005 2004 E
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Upstream results Liquids and gas pr
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Downstream results For the full yea
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Liquidity and capital resources Lon
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Research and development Research a
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Trends and outlook Outlook Since th
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Risk Factors Market risks p. 76 •
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The Group has implemented strict po
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The non-current debt in dollars des
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Grande Paroisse An explosion occurr
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Myanmar Under the Belgian “univer
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Risk management Risk evaluations le
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TOTAL, like other major internation
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Insurance and risk management Organ
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Corporate Governance Board of Direc
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Daniel Bouton 56 years old. Inspect
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Bertrand Jacquillat 62 years old. A
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Michel Pébereau 64 years old. Hono
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Management General Management On Ma
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Corporate Governance Compensation o
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Pensions and other commitments (Art
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Within this framework, the Board’
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- Page 159: Potential capital as of December 31
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20) Financial debt and related fina
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Appendix 1 - Consolidated financial
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Impact on net income The amount of
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23) Commitments and contingencies A
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Other guarantees given Non-consolid
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Appendix 1 - Consolidated financial
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25) Payroll and staff For the year
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The classification by strategy and
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B) Financial instruments related to
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29) Market risks Oil and gas market
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As a result of its policy for manag
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3) The Group has recorded provision
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Appendix 1 - Consolidated financial
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53.2% 95.7% Elf Aquitaine 99.5% 100
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Oil and gas reserves p. 238 • Cha
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Changes in liquids reserves Appendi
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Changes in liquids and gas reserves
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Costs incurred in oil and gas prope
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Appendix 2 - Supplemental oil and g
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Other information Accounting for ex
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Appendix 3 - TOTAL S.A. Special aud
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(Free translation of a French langu
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Balance Sheet (TOTAL S.A.) Appendix
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Statement of changes in Shareholder
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2) Property, plant and equipment As
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6) Shareholders’ equity A) Common
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7) Contingency reserves As of Decem
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11) Translation adjustment The appl
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20) Commitments As of December 31 (
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TOTAL share purchase options plans
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Appendix 3 - TOTAL S.A. Parent comp
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List of marketable securities held
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Distribution of earnings 2006 Net d
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Social and environmental informatio
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AVERAGE COMPENSATION PER MONTH - TO
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Environment Pursuant to French law
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Consolidated financial information
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European Cross Reference List 10. C
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TOTAL S.A. Registered Office: 2, pl