Registration document 2007 - Total.com

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10 246 Appendix 2 – Supplemental oil and gas information (unaudited) Financial review (in M€) Consolidated subsidiaries North Rest of As of December 31, 2004 Europe Africa America Asia world Total Future cash inflows 49,233 76,576 2,695 13,737 42,437 184,678 Future production costs (7,389) (13,170) (792) (2,077) (10,561) (33,989) Future development costs (6,448) (10,001) (356) (2,316) (4,436) (23,557) Future income taxes (23,711) (33,859) (304) (4,091) (8,613) (70,578) Future net cash flows, after income taxes 11,685 19,546 1,243 5,253 18,827 56,554 Discount at 10% (4,085) (8,919) (455) (2,167) (12,091) (27,717) Net cash flows 7,600 10,627 788 3,086 6,736 28,837 As of December 31, 2005 Future cash inflows 80,179 119,119 6,646 18,046 71,417 295,407 Future production costs (8,842) (19,402) (3,213) (2,381) (17,709) (51,547) Future development costs (6,581) (13,087) (789) (2,761) (5,019) (28,237) Future income taxes (43,824) (54,598) (528) (5,802) (15,285) (120,037) Future net cash flows, after income taxes 20,932 32,032 2,116 7,102 33,404 95,586 Discount at 10% (7,592) (13,856) (868) (2,744) (21,132) (46,192) Net cash flows 13,340 18,176 1,248 4,358 12,272 49,394 As of December 31, 2006 Future cash inflows 59,051 108,847 5,915 16,061 59,065 248,939 Future production costs (10,057) (19,223) (2,443) (2,136) (18,706) (52,565) Future development costs (9,379) (15,929) (968) (3,866) (6,121) (36,263) Future income taxes (28,069) (45,714) (459) (4,522) (12,271) (91,035) Future net cash flows, after income taxes 11,546 27,981 2,045 5,537 21,967 69,076 Discount at 10% (4,545) (12,171) (1,092) (1,927) (14,293) (34,028) Net cash flows 7,001 15,810 953 3,610 7,674 35,048 Minority interests in future net cash flows Year ended December 31, 2004 297 287 - - - 584 Year ended December 31, 2005 515 546 - - - 1,061 Year ended December 31, 2006 255 418 - - - 673 Company’s share of equity affiliates’ future net cash flows as of Year ended December 31, 2004 - 494 - - 1,101 1,595 Year ended December 31, 2005 - 598 - - 2,930 3,528 Year ended December 31, 2006 - 549 - - 3,545 4,094 Changes in the standardized measure of discounted future net cash flows (in M€) 2006 2005 2004 Future net cash flows as of January 1 49,394 28,837 29,118 Sales and transfers, net of production costs and other expenses (21,335) (17,104) (12,791) Net change in sales and transfer prices, net of production costs and other expenses (11,481) 52,711 12,919 Extensions, discoveries and improved recovery, net of future production and development costs 1,534 1,126 974 Changes in estimated future development costs (7,666) (1,106) (1,215) Previously estimated development costs incurred during the year 5,150 5,333 3,790 Revisions of previous quantity estimates (1,382) 6,313 (2,684) Accretion of discount 4,939 2,444 2,912 Net change in income taxes 16,268 (28,943) (4,255) Purchases of reserves in place 574 41 292 Sales of reserves in place (947) (258) (223) Changes in production rates (timing) and other - - - End of year 35,048 49,394 28,837 TOTAL – Registration Document 2006
Other information Accounting for exploratory drilling costs In April 2005, the FASB issued a FASB Staff Position FSP FAS 19-1, Accounting for suspended well costs to amend FAS No. 19 Financial Accounting and Reporting by Oil and Gas Producing Companies. The FSP is compatible with the IFRS accounting principles applied by TOTAL. The FSP provides for continued capitalization of exploratory drilling costs past one year if a company is making sufficient progress on assessing the reserves and the economic and operating viability of the project. The FSP also provides certain disclosure requirements with respect to capitalized exploratory drilling costs. As of January 1, 2005, TOTAL adopted FASB Staff Position FAS 19-1, Accounting for Suspended Well Costs. There were no capitalized exploratory well costs charged to expense upon the adoption of FSP 19-1. When a discovery is made, exploratory drilling costs continue to be capitalized pending determination of whether potentially economic oil and gas reserves have been discovered by the drilling effort. The length of time necessary for this determination depends on the specific technical or economic difficulties in assessing the recoverability of the reserves. If a determination is made that the well did not encounter oil and gas in economically viable quantities, the well costs are expensed and are reported in exploration expense. Exploratory drilling costs are temporarily capitalized pending determination of whether the well has found proved reserves if both of the following conditions are met: Capitalized exploratory costs Appendix 2 – Supplemental oil and gas information (unaudited) Other information 10 • The well has found a sufficient quantity of reserves to justify, if appropriate, its completion as a producing well, assuming that the required capital expenditure is made; and • Satisfactory progress toward ultimate development of the reserves is being achieved, with the Company making sufficient progress assessing the reserves and the economic and operating viability of the project. The Company evaluates the progress made on the basis of regular project reviews which take into account the following factors: • First, if additional exploratory drilling or other exploratory activities (such as seismic work or other significant studies) are either underway or firmly planned, the Company deems there is satisfactory progress. For these purposes, exploratory activities are considered firmly planned only if they are included in the Company’s three-year exploration plan/budget. At December 31, 2006, the Company had capitalized 342 M€ of exploratory drilling costs on this basis, as further set forth below. • In cases where exploratory activity has been completed, the evaluation of satisfactory progress takes into account indicators such as the fact that costs for development studies are incurred in the current period, or that governmental or other third-party authorizations are pending or that the availability of capacity on an existing transport or processing facility awaits confirmation. At December 31, 2006, exploratory drilling costs capitalized on this basis amounted to 77 M€ and mainly related to three projects, as further described below. The following table sets forth the net changes in capitalized exploratory costs for fiscal 2006, 2005 and 2004: (in M€) 2006 2005 2004 Beginning balance 590 430 422 Additions pending determination of proved reserves 569 192 269 Amounts previously capitalized and expensed during the year (67) (65) (40) Amounts transferred to Development (127) (22) (196) Foreign exchange variations (73) 55 (25) Ending balance 892 590 430 TOTAL – Registration Document 2006 247
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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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Members of the Audit Committee may
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Messrs. Bouton, Collomb, Desmarais,
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establishes and maintains procedure
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Employees, Share Ownership, Stock O
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Corporate Governance Employees, Sha
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TOTAL stock options Corporate Gover
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Restricted share plans as of Decemb
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TOTAL and its shareholders Listing
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Four-for-one stock split The Genera
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Information Summary TOTAL and its s
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Dividends Dividend policy In accord
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Share buybacks The General Meeting
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Summary table of transactions compl
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cancels and replaces the unused por
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which was approved by the French Co
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Shareholder structure Distribution
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Non-resident individual taxpayers e
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The Committee also worked on the co
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2007 Calendar February 14 Results f
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Financial information Historical fi
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Additional information Financial in
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General information Share capital p
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Pursuant to this authorization, the
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Potential capital as of December 31
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General information Share capital J
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Directors’ Charter and Committees
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Other matters Employee incentives a
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Information on holdings General inf
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Statutory auditors’ report on the
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Consolidated statement of income TO
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Consolidated statement of cash flow
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On February 13, 2007, the Board of
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G. Earnings per share Earnings per
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equal to the market price. For unli
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The net periodic pension cost is re
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(iii) Portion of intangible assets
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A. Information by business segment
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Appendix 1 - Consolidated financial
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ADJUSTMENTS TO OPERATING INCOME 200
Page 197 and 198: In 2006, gains and losses on sales
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Page 201 and 202: Property, plant and equipment prese
Page 203 and 204: 14) Other non-current assets As of
Page 205 and 206: The variation of the weighted-avera
Page 207 and 208: 18) Employee benefits obligations P
Page 209 and 210: The components of the net periodic
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Page 237 and 238: 53.2% 95.7% Elf Aquitaine 99.5% 100
Page 239 and 240: Oil and gas reserves p. 238 • Cha
Page 241 and 242: Changes in liquids reserves Appendi
Page 243 and 244: Changes in liquids and gas reserves
Page 245 and 246: Costs incurred in oil and gas prope
Page 247: Appendix 2 - Supplemental oil and g
Page 251 and 252: Appendix 3 - TOTAL S.A. Special aud
Page 253 and 254: (Free translation of a French langu
Page 255 and 256: Balance Sheet (TOTAL S.A.) Appendix
Page 257 and 258: Statement of changes in Shareholder
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Page 263 and 264: 7) Contingency reserves As of Decem
Page 265 and 266: 11) Translation adjustment The appl
Page 267 and 268: 20) Commitments As of December 31 (
Page 269 and 270: TOTAL share purchase options plans
Page 271 and 272: Appendix 3 - TOTAL S.A. Parent comp
Page 273 and 274: List of marketable securities held
Page 275 and 276: Distribution of earnings 2006 Net d
Page 277 and 278: Social and environmental informatio
Page 279 and 280: AVERAGE COMPENSATION PER MONTH - TO
Page 281 and 282: Environment Pursuant to French law
Page 283 and 284: Consolidated financial information
Page 285 and 286: European Cross Reference List 10. C
Page 288: TOTAL S.A. Registered Office: 2, pl
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Registration document 2007 - Total.com

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