Registration document 2007 - Total.com

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2 Electroplating 54 Business overview Specialties Atotech, which encompasses TOTAL’s electroplating activities, is the second largest company in this market, based on worldwide sales (1) . Its activity is divided between the electronics and the general metal finishing sectors. In 2006, sales grew by approximately 19% compared to 2005, after increasing by 7% in 2005 compared to 2004. Electroplating activity benefited from the growth of the electronic industry in Asia and also from strong demand for general metal finishing. In 2006, Atotech strengthened its general metal finishing activities by acquiring the shares of Kunz GmbH (Germany), a company specialized in anti-corrosion coating technologies intended for automotive uses. Atotech also expanded the production capacity of its Neuruppin (Germany) and Guangzhou (China) plants and commissioned a new industrial complex that combines both manufacturing and technical center facilities at Jang-An (South Korea). (1) According to Company data. TOTAL – Registration Document 2006
Investments Main investments made over the 2004-2006 period Business overview Investments (in M€) 2006 2005 2004 Upstream 9,001 8,111 6,202 Downstream 1,775 1,779 1,675 Chemicals 995 1,115 949 Corporate 81 190 78 Total 11,852 11,195 8,904 Most of the Group’s capital expenditures are made up of additions to intangible asset and new property, plant and equipment. Capital expenditures for 2006 amounted to $13.9 billion, excluding acquisitions. In the Upstream segment, capital expenditures are mainly intended to develop new hydrocarbon production facilities, exploration activities and purchase of new permits. In 2006, development expenditures were devoted primarily to the following projects: Kashagan in Kazakhstan, Yemen LNG in Yemen, Ekofisk and Snøhvit in Norway, Dalia and Rosa in Angola, Akpo in Nigeria, Tunu/Tambora in Indonesia, Moho Bilondo in Congo, Dolphin and Qatargas II in Qatar, Surmont and Joslyn in Canada and Tahiti in the United Stated. In the Downstream segment, capital expenditures are split between refining and marketing activities (notably with regards to the retail network). Refining investments (approximately $1 billion in 2005 and 2006) are divided up between maintenance of the facilities (including major turnarounds amounting to $0.2 billion in 2006, compared to $0.3 billion in 2005) and projects to increase the production of light products, add desulphurization capacity, adapt the system to new specifications and improve the plants energy efficiency. Year 2006 was particularly marked by the completion of the DHC unit (distillate hydrocracker) in the Normandy refinery. In the Chemicals segment, capital expenditures for 2006 were approximately 50% for Base Chemicals and 42% for Specialties and approximately 8% for Arkema. Main investments in progress For the year 2007, TOTAL announced an investment budget of approximately $16 billion (excluding acquisitions), of which 75% are devoted to the Upstream segment. Capital expenditures in the Upstream segment should be mainly dedicated to major development projects, of which: Kashagan in Kazakhstan, Yemen LNG in Yemen, Ekofisk and Snøhvit in Norway, Pazflor, Tombua/Landana and Rosa in Angola, Akpo in Nigeria, Tunu/Tambora in Indonesia, Moho Bilondo in Congo, Dolphin in Qatar, Surmont and Joslyn in Canada, Dunbar in the United Kingdom and Tahiti in the United States. Furthermore, $1.7 billion should be devoted to exploration. In the Downstream segment, capital expenditures should enable the development of projects to increase conversion and desulphurization capacities. TOTAL self-finances most of its capital expenditures from cash flow from operating activities (see consolidated statement of cash flow on page 171), which are essentially complemented by accessing the bond market on a regular basis and depending on market conditions (see note 20 to the consolidated financial statements, pages 209 to 213). However, capital expenditures for which joint-ventures are established between TOTAL and external partners are usually the subject of specific project financing. Main investments contemplated Beyond 2007, TOTAL plans to pursue a sustained investment effort to promote the growth of its activities, with priority to the Upstream segment. 2 TOTAL – Registration Document 2006 55
Page 1 and 2:
Registration Document 2006
Page 3 and 4:
Registration Document 2006 This is
Page 5 and 6: Key figures Selected financial info
Page 7 and 8: 116,842 Key figures Operating and m
Page 9 and 10: Refined product sales including Tra
Page 11 and 12: Business overview History and strat
Page 13 and 14: Upstream TOTAL’s Upstream segment
Page 15 and 16: Exploration & Production Exploratio
Page 17 and 18: Production For the full year 2006,
Page 19 and 20: Presentation of production activiti
Page 21 and 22: Europe Business overview Exploratio
Page 23 and 24: Africa TOTAL has been present in Af
Page 25 and 26: this zone through its subsidiaries
Page 27 and 28: North America Since 2004, TOTAL has
Page 29 and 30: Trinidad & Tobago TOTAL holds a 30%
Page 31 and 32: TOTAL also has a 50% interest in th
Page 33 and 34: Europe TOTAL’s production in Euro
Page 35 and 36: K6-GT platform, in anticipation of
Page 37 and 38: The Group also holds a 20% interest
Page 39 and 40: Gas & Power The Gas & Power divisio
Page 41 and 42: Asia Pacific The Hazira re-gasifica
Page 43 and 44: In Morocco, Temasol, in which TOTAL
Page 45 and 46: Refining & Marketing As of December
Page 47 and 48: Refined products The table below se
Page 49 and 50: capacity oil recycling plant in Fra
Page 51 and 52: In 2006, the principal market bench
Page 53 and 54: Base Chemicals TOTAL’s Base Chemi
Page 55: Specialties TOTAL’s Specialties s
Page 59 and 60: Property, Plant and Equipment TOTAL
Page 61 and 62: Board of Directors Executive Commit
Page 63 and 64: Management Report of the Board of D
Page 65 and 66: Market environment 2006 2005 2004 E
Page 67 and 68: Upstream results Liquids and gas pr
Page 69 and 70: Downstream results For the full yea
Page 71 and 72: Liquidity and capital resources Lon
Page 73 and 74: Research and development Research a
Page 75 and 76: Trends and outlook Outlook Since th
Page 77 and 78: Risk Factors Market risks p. 76 •
Page 79 and 80: The Group has implemented strict po
Page 81 and 82: The non-current debt in dollars des
Page 83 and 84: Grande Paroisse An explosion occurr
Page 85 and 86: Myanmar Under the Belgian “univer
Page 87 and 88: Risk management Risk evaluations le
Page 89 and 90: TOTAL, like other major internation
Page 91 and 92: Insurance and risk management Organ
Page 93 and 94: Corporate Governance Board of Direc
Page 95 and 96: Daniel Bouton 56 years old. Inspect
Page 97 and 98: Bertrand Jacquillat 62 years old. A
Page 99 and 100: Michel Pébereau 64 years old. Hono
Page 101 and 102: Management General Management On Ma
Page 103 and 104: Corporate Governance Compensation o
Page 105 and 106: 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
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In 2006, gains and losses on sales
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Property, plant and equipment prese
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14) Other non-current assets As of
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The variation of the weighted-avera
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18) Employee benefits obligations P
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The components of the net periodic
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20) Financial debt and related fina
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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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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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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
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Registration document 2007 - Total.com

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