Registration document 2007 - Total.com

11
(Free translation of a French language original)
For the year ended December 31, 2006
To the Shareholders,
In our capacity as the statutory auditors of your Company, we hereby submit to you our report on regulated agreements.
Agreements authorized during the year
Our assignment is not to identify the existence of any such agreements but to inform you, on the basis of the information provided to us,
of the essential characteristics and terms of the agreements brought to our attention, without expressing an opinion on their usefulness or
appropriateness. Pursuant to Article 92 of the Decree of March 23, 1967, it is your responsibility to assess the interest of such agreements
for the purpose of approving them.
We hereby inform you that we have not been advised during the year of any agreement covered by Article L 225-38 of the French
Commercial Code.
Agreements approved in prior years and continued during the year
Furthermore, pursuant to the Decree dated March 23, 1967, we have been informed that the following agreements, approved during
previous financial periods, continued in force during the last financial period.
With BNP Paribas and Société Générale
Securities were granted by your company to a banking pool which includes the banks BNP Paribas and Société Générale, to finance the
Sincor project in which Total Venezuela is participating. The aggregate amount of this financing was estimated at $2.7 billion. The project
reached the “Full Completion” status on February 1, 2006 and those guarantees were terminated accordingly.
Security for a loan for $243 million made to Oleoducto Central S.A. “Ocensa”. Based on the repayments made, the loan outstanding at
December 31, 2006 was $12,7 million.
We conducted our work in accordance with generally accepted standards in France; those standards require the due diligence necessary
to verify the consistency of the information provided to us with the basic documents from which that information is taken.
Paris La Défense, April 3, 2007
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Appendix 3 - TOTAL S.A.
Special auditors’ report on regulated agreements
Special auditors’ report on regulated agreements
TOTAL - Registration Document 2006
The Statutory Auditors
KPMG AUDIT (Département de KPMG S.A.) ERNST & YOUNG AUDIT
René Amirkhanian Gabriel Galet - Philippe Diu