falsedesktopTOT2011-12-31000119312512131662{"tbl_sim": "https://q10k.com/tbl-sim", "search": "https://q10k.com/search"}{"q10k_tbl_0": "\t\tPage\nCERTAIN TERMS\t\tiii\nABBREVIATIONS\t\tiv\nCONVERSION TABLE\t\tv\nItem 1.\tIdentity of Directors Senior Management and Advisers\t1\nItem 2.\tOffer Statistics and Expected Timetable\t1\nItem 3.\tKey Information\t1\n\tSelected Financial Data\t1\n\tExchange Rate Information\t3\n\tRisk Factors\t4\nItem 4.\tInformation on the Company\t10\n\tHistory and Development\t10\n\tBusiness Overview\t11\n\tOther Matters\t54\nItem 4A.\tUnresolved Staff Comments\t65\nItem 5.\tOperating and Financial Review and Prospects\t65\nItem 6.\tDirectors Senior Management and Employees\t81\n\tDirectors and Senior Management\t81\n\tCompensation\t92\n\tCorporate Governance\t112\n\tEmployees and Share Ownership\t121\nItem 7.\tMajor Shareholders and Related Party Transactions\t124\nItem 8.\tFinancial Information\t126\nItem 9.\tThe Offer and Listing\t132\nItem 10.\tAdditional Information\t133\nItem 11.\tQuantitative and Qualitative Disclosures About Market Risk\t146\nItem 12.\tDescription of Securities Other than Equity Securities\t147\nItem 13.\tDefaults Dividend Arrearages and Delinquencies\t148\nItem 14.\tMaterial Modifications to the Rights of Security Holders and Use of Proceeds\t148\nItem 15.\tControls and Procedures\t148\nItem 16A.\tAudit Committee Financial Expert\t149\nItem 16B.\tCode of Ethics\t149\nItem 16C.\tPrincipal Accountant Fees and Services\t149\nItem 16D.\tExemptions from the Listing Standards for Audit Committees\t149\nItem 16E.\tPurchases of Equity Securities by the Issuer and Affiliated Purchasers\t150\nItem 16F.\tChange in Registrant's Certifying Accountant\t150\nItem 16G.\tCorporate Governance\t150\nItem 17.\tFinancial Statements\t153\nItem 18.\tFinancial Statements\t153\nItem 19.\tExhibits\t153\n", "q10k_tbl_1": "1 acre\t= 0.405 hectares\t\n1 b\t= 42 U.S. gallons\t\n1 boe\t= 1 b of crude oil\t= 5447 cf of gas in 2011(a)\n\t\t= 5478 cf of gas in 2010\n\t\t= 5490 cf of gas in 2009\n1 b/d of crude oil\t= approximately 50 t/y of crude oil\t\n1 Bm3/y\t= approximately 0.1 Bcf/d\t\n1 m3\t= 35.3147 cf\t\n1 kilometer\t= approximately 0.62 miles\t\n1 ton\t= 1 t\t= 1000 kilograms (approximately 2205 pounds)\n1 ton of oil\t= 1 t of oil\t= approximately 7.5 b of oil (assuming a specific gravity of 37° API)\n1 Mt of LNG\t= approximately 48 Mcf of gas\t\n1 Mt/y LNG\t= approximately 131 Mcf/d\t\n", "q10k_tbl_2": "(M€ except share and per share data)\t2011\t\t2010\t2009\t2008\t2007\nINCOME STATEMENT DATA\t\t\t\t\t\t\nRevenues from sales\t166550\t\t140476\t112153\t160331\t136824\nNet income Group share\t12276\t\t10571\t8447\t10590\t13181\nEarnings per share\t5.46\t\t4.73\t3.79\t4.74\t5.84\nFully diluted earnings per share\t5.44\t\t4.71\t3.78\t4.71\t5.80\nCASH FLOW STATEMENT DATA\t\t\t\t\t\t\nCash flow from operating activities\t19536\t\t18493\t12360\t18669\t17686\nTotal expenditures\t24541\t\t16273\t13349\t13640\t11722\nBALANCE SHEET DATA\t\t\t\t\t\t\nTotal assets\t164049\t\t143718\t127753\t118310\t113541\nNon-current financial debt\t22557\t\t20783\t19437\t16191\t14876\nNon-controlling interests\t1352\t\t857\t987\t958\t842\nShareholders' equity - Group share\t68037\t\t60414\t52552\t48992\t44858\nCommon shares\t5909\t\t5874\t5871\t5930\t5989\nDIVIDENDS\t\t\t\t\t\t\nDividend per share (euros)\t€2.28\t(a)\t€2.28\t€2.28\t€2.28\t€2.07\nDividend per share (dollars)\t3.10\t(a)(b)\t3.15\t3.08\t3.01\t3.14\nCOMMON SHARES(c)\t\t\t\t\t\t\nAverage number outstanding of common shares €2.50 par value (shares undiluted)\t2247479529\t\t2234829043\t2230599211\t2234856551\t2255294231\nAverage number outstanding of common shares €2.50 par value (shares diluted)\t2256951403\t\t2244494576\t2237292199\t2246658542\t2274384984\n", "q10k_tbl_3": "Year\tAverage Rate\n2007\t1.3705\n2008\t1.4708\n2009\t1.3948\n2010\t1.3257\n2011\t1.3920\n", "q10k_tbl_4": "Period\tHigh\tLow\nOctober 2011\t1.4160\t1.3181\nNovember 2011\t1.3809\t1.3229\nDecember 2011\t1.3511\t1.2889\nJanuary 2012\t1.3176\t1.2669\nFebruary 2012\t1.3454\t1.2982\nMarch 2012(a)\t1.3312\t1.3057\n", "q10k_tbl_5": "(M€)\tFrance\tRest of Europe\tNorth America\tAfrica\tRest of world\tTotal\n2011\t\t\t\t\t\t\nNon-Group sales(a)\t42626\t81453\t15917\t15077\t29620\t184693\nProperty plant and equipment intangible assets net\t5637\t15576\t14518\t23546\t17593\t76870\nCapital expenditures\t1530\t3802\t5245\t5264\t8700\t24541\n2010\t\t\t\t\t\t\nNon-Group sales(a)\t36820\t72636\t12432\t12561\t24820\t159269\nProperty plant and equipment intangible assets net\t5666\t14568\t9584\t20166\t13897\t63881\nCapital expenditures\t1062\t2629\t3626\t4855\t4101\t16273\n2009\t\t\t\t\t\t\nNon-Group sales(a)\t32437\t60140\t9515\t9808\t19427\t131327\nProperty plant and equipment intangible assets net\t6973\t15218\t8112\t17312\t11489\t59104\nCapital expenditures\t1189\t2502\t1739\t4651\t3268\t13349\n", "q10k_tbl_6": "\t2011\t\t\t2010\t\t\t2009\t\t\n\tLiquids kb/d\tNatural gas Mcf/d\tTotal kboe/d\tLiquids kb/d\tNatural gas Mcf/d\tTotal kboe/d\tLiquids kb/d\tNatural gas Mcf/d\tTotal kboe/d\nAfrica\t517\t715\t659\t616\t712\t756\t632\t599\t749\nAlgeria\t16\t94\t33\t25\t87\t41\t47\t143\t74\nAngola\t128\t39\t135\t157\t34\t163\t186\t33\t191\nCameroon\t2\t1\t3\t9\t2\t9\t12\t2\t12\nGabon\t55\t17\t58\t63\t20\t67\t67\t20\t71\nLibya\t20\t0\t20\t55\t0\t55\t60\t0\t60\nNigeria\t179\t534\t287\t192\t542\t301\t159\t374\t235\nThe Congo Republic of\t117\t30\t123\t115\t27\t120\t101\t27\t106\nNorth America\t27\t227\t67\t30\t199\t65\t20\t22\t24\nCanada(a)\t11\t0\t11\t10\t0\t10\t8\t0\t8\nUnited States\t16\t227\t56\t20\t199\t55\t12\t22\t16\nSouth America\t71\t648\t188\t76\t569\t179\t80\t564\t182\nArgentina\t14\t397\t86\t14\t381\t83\t15\t364\t80\nBolivia\t3\t118\t25\t3\t94\t20\t3\t91\t20\nColombia\t5\t27\t11\t11\t34\t18\t13\t45\t23\nTrinidad & Tobago\t4\t47\t12\t3\t2\t3\t5\t2\t5\nVenezuela\t45\t59\t54\t45\t58\t55\t44\t62\t54\nAsia-Pacific\t27\t1160\t231\t28\t1237\t248\t33\t1228\t251\nAustralia\t0\t25\t4\t0\t6\t1\t0\t0\t0\nBrunei\t2\t56\t13\t2\t59\t14\t2\t49\t12\nIndonesia\t18\t757\t158\t19\t855\t178\t25\t898\t190\nMyanmar\t0\t119\t15\t0\t114\t14\t0\t103\t13\nThailand\t7\t203\t41\t7\t203\t41\t6\t178\t36\nCIS\t22\t525\t119\t13\t56\t23\t14\t52\t24\nAzerbaijan\t4\t57\t14\t3\t54\t13\t3\t50\t12\nRussia\t18\t468\t105\t10\t2\t10\t11\t2\t12\nEurope\t245\t1453\t512\t269\t1690\t580\t295\t1734\t613\nFrance\t5\t69\t18\t5\t85\t21\t5\t100\t24\nThe Netherlands\t1\t214\t38\t1\t234\t42\t1\t254\t45\nNorway\t172\t619\t287\t183\t683\t310\t199\t691\t327\nUnited Kingdom\t67\t551\t169\t80\t688\t207\t90\t689\t217\nMiddle East\t317\t1370\t570\t308\t1185\t527\t307\t724\t438\nUnited Arab Emirates\t226\t72\t240\t207\t76\t222\t201\t72\t214\nIran\t0\t0\t0\t2\t0\t2\t8\t0\t8\nOman\t24\t62\t36\t23\t55\t34\t22\t56\t34\nQatar\t44\t616\t155\t49\t639\t164\t50\t515\t141\nSyria\t11\t218\t53\t14\t130\t39\t14\t34\t20\nYemen\t12\t402\t86\t13\t285\t66\t12\t47\t21\nTotal production\t1226\t6098\t2346\t1340\t5648\t2378\t1381\t4923\t2281\nIncluding share of equity affiliates\t316\t1383\t571\t300\t781\t444\t286\t395\t359\nAlgeria\t10\t3\t10\t19\t4\t20\t20\t3\t21\nColombia\t4\t0\t4\t7\t0\t7\t6\t0\t6\nVenezuela\t44\t7\t45\t45\t6\t46\t44\t6\t45\nUnited Arab Emirates\t219\t62\t231\t199\t66\t212\t191\t62\t202\nOman\t22\t62\t34\t22\t55\t32\t22\t56\t34\nQatar\t8\t382\t78\t8\t367\t75\t3\t221\t42\nRussia\t9\t465\t95\t0\t0\t0\t0\t0\t0\nYemen\t0\t402\t74\t0\t283\t52\t0\t47\t9\n", "q10k_tbl_7": "TOTAL's producing assets as of December 31 2011(a)\t\t\t\n\tYear of entry into the country\tOperated (Group share in %)\tNon-operated (Group share in %)\nAfrica\t\t\t\nAlgeria\t1952\t\t\n\t\t\tTin Fouye Tabankort (35.00%)\nAngola\t1953\tGirassol Jasmim Rosa Dalia Pazflor (Block 17) (40.00%)\t\n\t\t\tBlock 0 (10.00%) Kuito BBLT Tombua-Landana (Block 14) (20.00%) Oombo (Block 3/91) (50.00%)\nThe Congo Republic of\t1928\tKombi-Likalala-Libondo (65.00%) Moho Bilondo (53.50%) Nkossa (53.50%) Nsoko (53.50%) Sendji (55.25%) Tchendo (65.00%) Tchibeli-Litanzi-Loussima (65.00%) Tchibouela (65.00%) Yanga (55.25%)\t\n\t\t\tLoango (50.00%) Zatchi (35.00%)\nGabon\t1928\tAnguille (100.00%) Anguille Nord-Est (100.00%) Anguille Sud-Est (100.00%) Atora (40.00%) Avocette (57.50%) Ayol Marine (100.00%) Baliste (50.00%) Barbier (100.00%) Baudroie Marine (50.00%) Baudroie Nord Marine (50.00%) Coucal (57.50%) Girelle (100.00%) Gonelle (100.00%) Grand Anguille Marine (100.00%) Grondin (100.00%) Hylia Marine (75.00%) Lopez Nord (100.00%) Mandaros (100.00%) M'Boumba (100.00%) Mérou Sardine Sud (50.00%) Pageau (100.00%) Port Gentil Océan (100.00%) Port Gentil Sud Marine (100.00%) Tchengue (100.00%) Torpille (100.00%) Torpille Nord Est (100.00%)\t\n\t\t\tRabi Kounga (47.50%)\nLibya\t1959\t\tZones 15 16 & 32 (ex C 137 75.00%(b)) Zones 70 & 87 (ex C 17 75.00%(b)) Zones 129 & 130 (ex NC 115 30.00%(b)) Zones 130 & 131 (ex NC 186 24.00%(b))\nNigeria\t1962\tOML 58 (40.00%) OML 99 Amenam-Kpono (30.40%) OML 100 (40.00%) OML 102 (40.00%)\tOML 102-Ekanga (40.00%)\n\t\tOML 130 (24.00%)\t\n\t\t\tShell Petroleum Development Company (SPDC 10.00%) OML 118-Bonga (12.50%)\n", "q10k_tbl_8": "\tYear of entry into the country\tOperated (Group share in %)\tNon-operated (Group share in %)\nNorth America\t\t\t\nCanada\t1999\t\t\n\t\t\tSurmont (50.00%)\nUnited States\t1957\t\t\n\t\t\tSeveral assets in the Barnett Shale area (25.00%)(c) Several assets in the Utica Shale area (25.00%)(c) Tahiti (17.00%)\nSouth America\t\t\t\nArgentina\t1978\tAguada Pichana (27.27%) Aries (37.50%) Cañadon Alfa Complex (37.50%) Carina (37.50%) Hidra (37.50%) San Roque (24.71%)\t\n\t\t\tSierra Chata (2.51%)\nBolivia\t1995\t\t\n\t\t\tSan Alberto (15.00%) San Antonio (15.00%) Itau (41.00%)\nColombia\t1973\t\t\n\t\t\tCusiana (11.60%)\nTrinidad & Tobago\t1996\t\t\n\t\t\tAngostura (30.00%)\nVenezuela\t1980\t\t\n\t\t\tPetroCedeño (30.323%) Yucal Placer (69.50%)\nAsia-Pacific\t\t\t\nAustralia\t2005\t\t\n\t\t\tGLNG (27.50%)\nBrunei\t1986\tMaharaja Lela Jamalulalam (37.50%)\t\nIndonesia\t1968\tBekapai (50.00%) Handil (50.00%) Peciko (50.00%) Sisi-Nubi (47.90%) Tambora (50.00%) Tunu (50.00%)\t\n\t\t\tBadak (1.05%) Nilam-gas and condensates (9.29%) Nilam-oil (10.58%)\nMyanmar\t1992\tYadana (31.24%)\t\nThailand\t1990\t\t\n\t\t\tBongkot (33.33%)\nCommonwealth of Independent States\t\t\t\nAzerbaijan\t1996\t\t\n\t\t\tShah Deniz (10.00%)\nRussia\t1991\tKharyaga (40.00%)\t\n\t\t\tSeveral fields through the participation in Novatek (14.09%)\nEurope\t\t\t\nFrance\t1939\tLacq (100.00%) Meillon (100.00%) Pécorade (100.00%) Vic-Bilh (73.00%) Lagrave (100.00%) Lanot (100.00%) Itteville (78.73%) La Croix-Blanche (100.00%) Vert-le-Grand (90.05%) Vert-le-Petit (100.00%)\t\n\t\t\tDommartin-Lettrée (56.99%)\n", "q10k_tbl_9": "\tYear of entry into the country\tOperated (Group share in %)\tNon-operated (Group share in %)\nNorway\t1965\tSkirne (40.00%)\t\n\t\t\tÅsgard (7.68%) Ekofisk (39.90%) Eldfisk (39.90%) Embla (39.90%) Gimle (4.90%) Glitne (21.80%) Gungne (10.00%) Heimdal (16.76%) Huldra (24.33%) Kristin (6.00%) Kvitebjørn (5.00%) Mikkel (7.65%) Morvin (6.00%) Oseberg (10.00%) Oseberg East (10.00%) Oseberg South (10.00%) Sleipner East (10.00%) Sleipner West (9.41%) Snøhvit (18.40%) Snorre (6.18%) Statfjord East (2.80%) Sygna (2.52%) Tor (48.20%) Tordis (5.60%) Troll I (3.69%) Troll II (3.69%) Tune (10.00%) Tyrihans (23.18%) Vale (24.24%) Vigdis (5.60%) Vilje (24.24%) Visund (7.70%) Yttergryta (24.50%)\nThe Netherlands\t1964\tF6a gas (55.66%) F6a oil (65.68%) F15a Jurassic (38.20%) F15a/F15d Triassic (32.47%) F15d (32.47%) J3a (30.00%) K1a (40.10%) K1b/K2a (54.33%) K2c (54.33%) K3b (56.16%) K3d (56.16%) K4a (50.00%) K4b/K5a (36.31%) K5b (45.27%) K6/L7 (56.16%) L1a (60.00%) L1d (60.00%) L1e (55.66%) L1f (55.66%) L4a (55.66%)\t\n\t\t\tE16a (16.92%) E17a/E17b (14.10%) J3b/J6 (25.00%) Q16a (6.49%)\n", "q10k_tbl_10": "\tYear of entry into the country\tOperated (Group share in %)\tNon-operated (Group share in %)\nUnited Kingdom\t1962\tAlwyn North Dunbar Ellon Grant Nuggets (100.00%) Elgin-Franklin (EFOG 46.17%)(d) Forvie Nord (100.00%) Glenelg (49.47%) Jura (100.00%) West Franklin (EFOG 46.17%)(d)\t\n\t\t\tAlba (12.65%) Armada (12.53%) Bruce (43.25%) Markham unitized fields (7.35%) ETAP (Mungo Monan) (12.43%) Everest (0.87%) Keith (25.00%) Maria (28.96%) Otter (50.00%) Seymour (25.00%)\nMiddle East\t\t\t\nU.A.E.\t1939\tAbu Dhabi-Abu Al Bu Khoosh (75.00%)\t\n\t\t\tAbu Dhabi offshore (13.33%)(e) Abu Dhabi onshore (9.50%)(f) GASCO (15.00%) ADGAS (5.00%)\nOman\t1937\t\t\n\t\t\tVarious fields onshore (Block 6) (4.00%)(g) Mukhaizna field (Block 53) (2.00%)(h)\nQatar\t1936\tAl Khalij (100.00%)\t\n\t\t\tNorth Field-Block NF Dolphin (24.50%) North Field-Block NFB (20.00%) North Field-Qatargas 2 Train 5 (16.70%)\nSyria\t1988\tDeir Ez Zor (Al Mazraa Atalla North Jafra Marad Qahar Tabiyeh) (100.00%)(i)\t\nYemen\t1987\tKharir/Atuf (Block 10) (28.57%)\t\n\t\t\tVarious fields onshore (Block 5) (15.00%)\n", "q10k_tbl_11": "As of December 31 (in thousand of acres)\t\t2011\t\t2010\t\t2009\t\n\t\tUndeveloped acreage(a)\tDeveloped acreage\tUndeveloped acreage(a)\tDeveloped acreage\tUndeveloped acreage(a)\tDeveloped acreage\nEurope\tGross\t6478\t781\t6802\t776\t5964\t667\n\tNet\t3497\t185\t3934\t184\t2203\t182\nAfrica\tGross\t110346\t1229\t72639\t1229\t85317\t1137\n\tNet\t65391\t333\t33434\t349\t45819\t308\nAmericas\tGross\t15454\t1028\t16816\t1022\t9834\t776\n\tNet\t5349\t329\t5755\t319\t4149\t259\nMiddle East\tGross\t31671\t1461\t29911\t1396\t33223\t204\n\tNet\t2707\t217\t2324\t209\t2415\t97\nAsia\tGross\t40552\t930\t36519\t539\t29609\t397\n\tNet\t19591\t255\t17743\t184\t16846\t169\nTotal\tGross\t204501\t5429\t162687\t4962\t163947\t3181\n\tNet(b)\t96535\t1319\t63190\t1245\t71432\t1015\n", "q10k_tbl_12": "As of December 31 (number of wells)\t\t2011\t\t2010\t\t2009\t\n\t\tGross productive wells\tNet productive wells(a)\tGross productive wells\tNet productive wells(a)\tGross productive wells\tNet productive wells(a)\nEurope\tLiquids\t576\t151\t569\t151\t705\t166\n\tGas\t358\t125\t368\t132\t328\t125\nAfrica\tLiquids\t2275\t576\t2250\t628\t2371\t669\n\tGas\t157\t44\t182\t50\t190\t50\nAmericas\tLiquids\t877\t247\t884\t261\t821\t241\n\tGas\t2707\t526\t2532\t515\t1905\t424\nMiddle East\tLiquids\t7829\t721\t7519\t701\t3766\t307\n\tGas\t372\t49\t360\t49\t136\t32\nAsia\tLiquids\t209\t75\t196\t75\t157\t75\n\tGas\t1589\t498\t1258\t411\t1156\t379\nTotal\tLiquids\t11766\t1770\t11418\t1816\t7820\t1458\n\tGas\t5183\t1242\t4700\t1157\t3715\t1010\n", "q10k_tbl_13": "As of December 31\t\t2011\t\t\t2010\t\t\t2009\t\t\n\t\tNet productive wells drilled(a)\tNet dry wells drilled(a)\tTotal net wells drilled(a)\tNet productive wells drilled(a)\tNet dry wells drilled(a)\tTotal net productive wells drilled(a)\tNet wells drilled(a)\tNet dry wells drilled(a)\tTotal net wells drilled(a)\nExploratory\tEurope\t1.5\t1.7\t3.2\t1.7\t0.2\t1.9\t0.4\t3.7\t4.1\n\tAfrica\t2.9\t1.5\t4.4\t1.6\t4.3\t5.9\t5.9\t3.2\t9.1\n\tAmericas\t1.2\t1.3\t2.5\t1.0\t1.6\t2.6\t0.8\t1.6\t2.4\n\tMiddle East\t1.2\t0.8\t2.0\t0.9\t0.3\t1.2\t0.3\t0\t0.3\n\tAsia\t2.1\t3.7\t5.8\t3.2\t1.2\t4.4\t1.7\t1.2\t2.9\n\tSubtotal\t8.9\t9.0\t17.9\t8.4\t7.6\t16.0\t9.1\t9.7\t18.8\nDevelopment\tEurope\t7.5\t0\t7.5\t5.0\t0\t5.0\t5.0\t0\t5.0\n\tAfrica\t24.7\t0\t24.7\t18.1\t0\t18.1\t27.5\t0.2\t27.7\n\tAmericas\t113.1\t82.2\t195.3\t135.3\t112.5\t247.8\t31.2\t104.3\t135.5\n\tMiddle East\t32.6\t2.6\t35.2\t29.6\t1.4\t31.0\t42.6\t3.4\t49.0\n\tAsia\t118.4\t0\t118.4\t59.3\t0\t59.3\t63.5\t0.3\t63.8\n\tSubtotal\t296.3\t84.8\t381.1\t247.3\t113.9\t361.2\t172.8\t108.2\t281.0\nTotal\t\t305.2\t93.8\t399.0\t255.7\t121.5\t377.2\t181.9\t117.9\t299.8\n", "q10k_tbl_14": "As of December 31\t\t2011\t\t2010\t\t2009\t\n(number of wells)\t\tGross\tNet (a)\tGross\tNet (a)\tGross\tNet (a)\nExploratory\tEurope\t2\t2.0\t3\t2.1\t1\t0.5\n\tAfrica\t2\t0.8\t4\t1.4\t4\t1.3\n\tAmericas\t3\t1.0\t2\t0.9\t2\t0.6\n\tMiddle East\t0\t0\t2\t1.2\t1\t0.4\n\tAsia\t1\t0.6\t2\t1.1\t0\t0\n\tSubtotal\t8\t4.4\t13\t6.7\t8\t2.8\nDevelopment\tEurope\t21\t4.5\t21\t3.8\t5\t2.2\n\tAfrica\t31\t11.3\t29\t6.4\t31\t8.5\n\tAmericas\t22\t5.7\t99\t29.2\t60\t17.8\n\tMiddle East\t26\t3.5\t20\t5.1\t40\t4.8\n\tAsia\t11\t5.1\t23\t9.8\t12\t5.5\n\tSubtotal\t111\t30.1\t192\t54.3\t148\t38.8\nTotal\t\t119\t34.5\t205\t61.0\t156\t41.6\n", "q10k_tbl_15": "Pipeline(s)\tOrigin\tDestination\t% interest\t\tOperator\tLiquids\tGas\nEUROPE\t\t\t\t\t\t\t\nFrance\t\t\t\t\t\t\t\nTIGF\tSouth West Network\t\t100.00\t\tx\t\tx\nNorway\t\t\t\t\t\t\t\nFrostpipe (inhibited)\tLille-Frigg Froy\tOseberg\t36.25\t\t\tx\t\nHeimdal to Brae Condensate Line\tHeimdal\tBrae\t16.76\t\t\tx\t\nKvitebjorn pipeline\tKvitebjorn\tMongstad\t5.00\t\t\tx\t\nNorpipe Oil\tEkofisk Treatment center\tTeeside (UK)\t34.93\t\t\tx\t\nOseberg Transport System\tOseberg Brage and Veslefrikk\tSture\t8.65\t\t\tx\t\nSleipner East Condensate Pipe\tSleipner East\tKarsto\t10.00\t\t\tx\t\nTroll Oil Pipeline I and II\tTroll B and C\tVestprosess (Mongstad refinery)\t3.71\t\t\tx\t\nThe Netherlands\t\t\t\t\t\t\t\nNogat pipeline\tF3-FB\tDen Helder\t5.00\t\t\t\tx\nWGT K13-Den Helder\tK13A\tDen Helder\t4.66\t\t\t\tx\nWGT K13-Extension\tMarkham\tK13 (via K4/K5)\t23.00\t\t\t\tx\nUnited Kingdom\t\t\t\t\t\t\t\nAlwyn Liquid Export Line\tAlwyn North\tCormorant\t100.00\t\tx\tx\t\nBruce Liquid Export Line\tBruce\tForties (Unity)\t43.25\t\t\tx\t\nCentral Area Transmission System (CATS)\tCats Riser Platform\tTeeside\t0.57\t\t\t\tx\nCentral Graben Liquid Export Line (LEP)\tElgin-Franklin\tETAP\t15.89\t\t\tx\t\nFrigg System : UK line\tAlwyn North Bruce and others\tSt.Fergus (Scotland)\t100.00\t\tx\t\tx\nNinian Pipeline System\tNinian\tSullom Voe\t16.00\t\t\tx\t\nShearwater Elgin Area Line (SEAL)\tElgin-Franklin Shearwater\tBacton\t25.73\t\t\t\tx\nSEAL to Interconnector Link (SILK)\tBacton\tInterconnector\t54.66\t\tx\t\tx\nAFRICA\t\t\t\t\t\t\t\nGabon\t\t\t\t\t\t\t\nMandji Pipes\tMandji fields\tCap Lopez Terminal\t100.00\t(a)\tx\tx\t\nRabi Pipes\tRabi fields\tCap Lopez Terminal\t100.00\t(a)\tx\tx\t\nAMERICAS\t\t\t\t\t\t\t\nArgentina\t\t\t\t\t\t\t\nGas Andes\tNeuquen Basin (Argentina)\tSantiago (Chile)\t56.50\t\tx\t\tx\nTGN\tNetwork (Northern Argentina)\t\t15.40\t\t\t\tx\nTGM\tTGN\tUruguyana (Brazil)\t32.68\t\t\t\tx\nBolivia\t\t\t\t\t\t\t\nTransierra\tYacuiba (Bolivia)\tRio Grande (Bolivia)\t11.00\t\t\t\tx\nBrazil\t\t\t\t\t\t\t\nTBG\tBolivia-Brazil border\tPorto Alegre via São Paulo\t9.67\t\t\t\tx\nColombia\t\t\t\t\t\t\t\nOcensa\tCusiana\tCovenas Terminal\t5.20\t\t\tx\t\nOleoducto de Alta Magdalena\tTenay\tVasconia\t0.93\t\t\tx\t\nOleoducto de Colombia\tVasconia\tCovenas\t9.55\t\t\tx\t\nASIA\t\t\t\t\t\t\t\nYadana\tYadana (Myanmar)\tBan-I Tong (Thai border)\t31.24\t\tx\t\tx\nREST OF WORLD\t\t\t\t\t\t\t\nBTC\tBaku (Azerbaijan)\tCeyhan (Turkey Mediterranean)\t5.00\t\t\tx\t\nSCP\tBaku (Azerbaijan)\tGeorgia/Turkey Border\t10.00\t\t\t\tx\nDolphin (International transport and network)\tRas Laffan (Qatar)\tU.A.E.\t24.50\t\t\t\tx\n", "q10k_tbl_16": "As of December 31 (kb/d)\t2011\t2010\t2009\nRefineries operated by the Group\t\t\t\nNormandy (France)\t199\t199\t338\nProvence (France)\t158\t158\t158\nFlanders (France)\t0\t0\t137\nDonges (France)\t230\t230\t230\nFeyzin (France)\t117\t117\t117\nGrandpuits (France)\t101\t101\t101\nAntwerp (Belgium)\t350\t350\t350\nLeuna (Germany)\t230\t230\t230\nRome (Italy)(b)\t0\t0\t64\nLindsey - Immingham (United Kingdom)\t221\t221\t221\nVlissingen (Netherlands)(c)\t82\t81\t81\nPort Arthur Texas (United States)\t174\t174\t174\nSubtotal\t1862\t1861\t2201\nOther refineries in which the Group has equity stakes(d)\t226\t502\t393\nTotal\t2088\t2363\t2594\n", "q10k_tbl_17": "(kb/d)\t2011\t2010\t2009\nGasoline\t350\t345\t407\nAviation fuel(b)\t158\t168\t186\nDiesel and heating oils\t804\t775\t851\nHeavy fuels\t179\t233\t245\nOther products\t335\t359\t399\nTotal\t1826\t1880\t2088\n", "q10k_tbl_18": "\t2011\t2010\t2009\nOn crude and other feedstock(a)(b)\t\t\t\nFrance\t91%\t64%\t77%\nRest of Europe (excluding CEPSA and TotalERG)\t77%\t85%\t88%\nAmericas\t81%\t83%\t77%\nAsia\t67%\t81%\t80%\nAfrica\t80%\t76%\t77%\nCEPSA and TotalERG(c)\t83%\t94%\t93%\nAverage\t83%\t77%\t83%\n(a) Including equity share of refineries in which the Group has a stake. (b) Crude + crackers' feedstock/capacity and distillation at the beginning of the year. (c) For CEPSA in 2011: calculation of the utilization rate based on production and capacity prorated on the first seven months of the year.\t\t\t\n\t2011\t2010\t2009\nOn crude(a)(b)\t\t\t\nAverage\t78%\t73%\t78%\n", "q10k_tbl_19": "(kb/d)\t2011\t2010\t2009\nFrance\t740\t725\t808\nEurope excluding France(a)\t1108\t1204\t1245\nUnited States\t47\t65\t118\nAfrica\t304\t292\t281\nRest of the World\t225\t209\t189\nTotal excluding Trading\t2424\t2495\t2641\nTrading\t1215\t1281\t975\nTotal including Trading\t3639\t3776\t3616\n", "q10k_tbl_20": "As of December 31\t2011\t2010\t2009\nFrance(a)\t4046\t4272\t4606\nEurope excluding France\t5375\t7790\t6219\nof which TotalErg\t3355\t3221\t0\nof which CEPSA\t0\t1737\t1734\nAfrica\t3464\t3570\t3647\nRest of the World\t1934\t1858\t1827\nTotal\t14819\t17490\t16299\n", "q10k_tbl_21": "(kb/d)\t2011\t2010\t2009\nGroup's worldwide liquids production\t1226\t1340\t1381\nPurchased by the Trading division from the Group's Exploration & Production division\t960\t1044\t1054\nPurchased by the Trading division from external suppliers\t1833\t2084\t2351\nTotal of Trading division's supply\t2793\t3128\t3405\nSales by Trading division to Group Refining & Marketing division\t1524\t1575\t1752\nSales by Trading division to external customers\t1269\t1553\t1653\nTotal of Trading division's sales\t2793\t3128\t3405\nTotal sales of refined products\t1632\t1641\t1323\n", "q10k_tbl_22": "\t\t2011\t2010\t2009\tmin 2011\t\tmax 2011\t\nBrent ICE - 1st Line(a)\t($/b)\t110.91\t80.34\t62.73\t93.33\t(Jan. 07)\t126.65\t(Apr. 08)\nBrent ICE - 12th Line(b)\t($/b)\t108.12\t84.61\t70.43\t94.20\t(Jan. 07)\t121.74\t(Apr. 29)\nContango/Backwardation time structure (12th-1st)\t($/b)\t-2.79\t4.27\t7.70\t-9.55\t(Oct. 14)\t2.65\t(Feb. 07)\nGasoil ICE - 1st Line(a)\t($/t)\t933.30\t673.88\t522.20\t767.75\t(Jan. 01)\t1053.00\t(Apr. 08)\n", "q10k_tbl_23": "\t\t2011\t2010\t2009\tmin 2011\t\tmax 2011\t\nVLCC Ras Tanura Chiba - BITR(a)\t($/t)\t11.99\t13.41\t10.43\t9.32\t(Oct. 10)\t18.54\t(Feb. 15)\nSuezmax Bonny Philadelphia-BITR\t($/t)\t13.86\t14.50\t12.75\t10.23\t(Jan. 20)\t19.85\t(Mar. 22)\nAframax Sullom Voe Wilhemshaven-BITR\t($/t)\t6.51\t6.39\t5.20\t5.04\t(Jan. 17)\t9.46\t(Mar. 4)\n", "q10k_tbl_24": "(in thousands of tons)\t2011\t\t\t\t\t\t\t2010\t\t2009\t\nEurope\t\tNorth America\t\tAsia and Middle East(a)\t\tWorldwide\t\tWorldwide\t\tWorldwide\t\nOlefins(b)\t4695\t\t1195\t\t1460\t\t7350\t\t7190\t\t6895\nAromatics\t2500\t\t940\t\t770\t\t4210\t\t4195\t\t4195\nPolyethylene\t1180\t\t440\t\t520\t\t2140\t\t2140\t\t2040\nPolypropylene\t1315\t\t1175\t\t345\t\t2835\t\t2780\t\t2780\nStyrenics(c)\t1150\t\t1260\t\t730\t\t3140\t\t2950\t\t3090\n", "q10k_tbl_25": "As of and for the year ended December 31 (M€ except per share data)\t2011\t2010\t2009\nNon-Group sales\t184693\t159269\t131327\nNet income (Group share)\t12276\t10571\t8447\nDiluted earnings per share\t5.44\t4.71\t3.78\n", "q10k_tbl_26": "(M€)\t2011\t2010\t2009\nNon-Group sales\t23298\t18527\t16072\nOperating income(a)\t22444\t17450\t12858\nEquity in income (loss) of affiliates and other items\t1596\t1533\t846\nTax on net operating income\t(13506)\t(10131)\t(7486)\nNet operating income(a)\t10534\t8852\t6218\nAdjustments affecting net operating income\t(129)\t(255)\t164\nAdjusted net operating income(b)\t10405\t8597\t6382\nInvestments\t21689\t13208\t9855\nDivestments\t2656\t2067\t398\nROACE\t20%\t21%\t18%\n", "q10k_tbl_27": "(M€)\t2011\t2010\t2009\nNon-Group sales\t141907\t123245\t100518\nOperating income(a)\t1694\t982\t2237\nEquity in income (loss) of affiliates and other items\t401\t141\t169\nTax on net operating income\t(409)\t(201)\t(633)\nNet operating income(a)\t1686\t922\t1773\nAdjustments affecting net operating income\t(603)\t246\t(820)\nAdjusted net operating income(b)\t1083\t1168\t953\nInvestments\t1870\t2343\t2771\nDivestments\t3235\t499\t133\nROACE\t7%\t8%\t7%\n", "q10k_tbl_28": "(M€)\t2011\t2010\t2009\nNon-Group sales\t19477\t17490\t14726\nOperating income(a)\t658\t964\t553\nEquity in income (loss) of affiliates and other items\t471\t215\t(58)\nTax on net operating income\t(225)\t(267)\t(92)\nNet operating income(a)\t904\t912\t403\nAdjustments affecting net operating income\t(129)\t(55)\t(131)\nAdjusted net operating income(b)\t775\t857\t272\nInvestments\t847\t641\t631\nDivestments\t1164\t347\t47\nROACE\t10%\t12%\t4%\n", "q10k_tbl_29": "(M€)\t2011\t2010\t2009\nCash flow from operating activities\t19536\t18493\t12360\nIncluding (increase) decrease in working capital\t(1739)\t(496)\t(3316)\nCash flow used in investing activities\t(15963)\t(11957)\t(10268)\nTotal expenditures\t(24541)\t(16273)\t(13349)\nTotal divestments\t8578\t4316\t3081\nCash flow used in financing activities\t(4309)\t(3348)\t(2868)\nNet increase (decrease) in cash and cash equivalents\t(736)\t3188\t(776)\nEffect of exchange rates\t272\t(361)\t117\nCash and cash equivalents at the beginning of the period\t14489\t11662\t12321\nCash and cash equivalents at the end of the period\t14025\t14489\t11662\n", "q10k_tbl_30": "Payment due by period (M€)\tLess than 1 year\t1-3 years\t3-5 years\tMore than 5 years\tTotal\nNon-current debt obligations(a)\t0\t8052\t5069\t7308\t20429\nCurrent portion of non-current debt obligations(b)\t3488\t0\t0\t0\t3488\nFinance lease obligations(c)\t25\t70\t64\t18\t177\nAsset retirement obligations(d)\t272\t469\t335\t5808\t6884\nOperating lease obligations(c)\t762\t968\t651\t940\t3321\nPurchase obligations(e)\t11049\t11058\t9476\t45770\t77353\nTotal\t15596\t20617\t15595\t59844\t111652\n", "q10k_tbl_31": "Chairman and Chief Executive Officer Summary table at February 29 2012\tEmployment contract\tRetirement benefit and supplementary pension plans\tBenefits or advantages due or likely to be due upon termination or change of office\tBenefits related to a non-compete agreement\nChristophe de Margerie Chairman and Chief Executive Officer Start of the office: February 2007(a) Term of current office: The Shareholders' Meeting called in 2012 to approve the financial statements for the year ending December 31 2011\tNO\tYES (retirement benefit)(b) (internal defined supplementary pension plan(c) and corporate RECOSUP defined contribution pension plan(d) also applicable to certain Group employees)\tYES (compensation for loss of office)(e)\tNO\n", "q10k_tbl_32": "For the year ended (€)\t2011\t2010\nChristophe de Margerie Chairman and Chief Executive Officer (since May 21 2010)\t\t\nCompensation due for fiscal year as Chairman and Chief Executive Officer(a)\t3030000\t3008122\nIn-kind benefits(b)\t6991\t6908\nValue of options awarded(c)\t702400\t1387200\nValue of performance shares awarded(d)\t437440\t0\nTotal\t4176831\t4402230\n", "q10k_tbl_33": "\tFor the year ended 2011\t\tFor the year ended 2010\t\t\t\nFor the year ended (€)\tAmount due\tAmount paid(a)\tAmount due\t\tAmount paid(a)\t\nChristophe de Margerie Chairman and Chief Executive Officer (since May 21 2010)\t\t\t\t\t\t\nFixed compensation\t1500000\t1500000\t1426452\t(b)\t1426452\t(b)\nVariable compensation(c)\t1530000\t1581 670\t1581670\t(d)\t1356991\t\nExtraordinary compensation\t0\t0\t0\t\t0\t\nDirectors' fees\t0\t0\t0\t\t0\t\nIn-kind benefits(e)\t6991\t6991\t6908\t\t6908\t\nTotal\t3036991\t3088661\t3015030\t\t2790351\t\n", "q10k_tbl_34": "Gross amount (€)\t2011\t\t2010\t\nChristophe de Margerie(a)\t(b)\t\t(b)\t\nThierry Desmarest (a)(b)\t639854\t(d)\t1604039\t(d)\nPatrick Artus(c)\t65500\t\t55000\t\nPatricia Barbizet(a)\t115500\t\t107000\t\nDaniel Bouton\t63500\t\t55000\t\nGunnar Brock(a)(e)\t75500\t\t39328\t\nClaude Clément(e)\t156365\t(f)\t127929\t(f)\nMarie-Christine Coisne-Roquette(g)\t48460\t\t0\t\nBertrand Collomb\t72500\t\t71000\t\nPaul Desmarais Jr.\t51000\t\t45000\t\nBertrand Jacquillat(h)\t55040\t\t95000\t\nBarbara Kux(a)(i)\t26770\t\t0\t\nAnne Lauvergeon(a)\t63500\t\t45000\t\nPeter Levene of Portsoken(j)\t19230\t\t79000\t\nClaude Mandil(a)\t63500\t\t55000\t\nMichel Pébereau\t77500\t\t71000\t\nThierry de Rudder(a)\t138500\t\t142000\t\n", "q10k_tbl_35": "\tDate of Plan\tType of options\tValue of options (€)(a)\tNumber of options awarded during fiscal year(b)\tExercise price\tExercise period\tPerformance condition\nChristophe de Margerie\t2011 Plan 09/14/2011\tSubscription options\t702400\t160000\t33.00\t09/15/2013- 09/14/2019\tFor 50% of the options the condition is based on the average ROE for the Group's 2011 and 2012 fiscal years. For 50% of the options the condition is based on the average ROACE for the Group's 2011 and 2012 fiscal years.\nChairman and Chief Executive Officer\t\t\t\t\t\nTotal\t\t\t702400\t160000\t\t\t\n", "q10k_tbl_36": "\tDate of Plan\tNumber of options exercised during fiscal year\tExercise price (€)\nChristophe de Margerie\t2003 Plan\t113576\t32.84\nChairman and Chief Executive Officer\t07/16/2003\t\t\nTotal\t\t113576\t\n", "q10k_tbl_37": "\tDate of Plan\tNumber of shares awarded during fiscal year\tValue of shares (€)(a)\tAcquisition date\tAvailability date\tPerformance condition\nChristophe de Margerie Chairman and Chief Executive Officer\t2011 Plan 09/14/2011\t16000\t437440\t09/15/2013\t09/15/2015\tFor 50% of the shares the condition is based on the average ROE for the Group's 2011 and 2012 fiscal years. For 50% of the shares the condition is based on the average ROACE for the Group's 2011 and 2012 fiscal years.\nClaude Clément Director representing employee shareholders\t2011 Plan 09/14/2011\t240\t6562\t09/15/2013\t09/15/2015\tShares in excess of the first 100 shares are subject to a condition based on the average ROE for the Group's 2011 and 2012 fiscal years.\nTotal\t\t16240\t\t\t\t\n", "q10k_tbl_38": "\tDate of Plan\tNumber of shares finally awarded during fiscal year\tAcquisition condition\nChristophe de Margerie\t2009 Plan\t0\t0\nChairman and Chief Executive Officer\t09/15/2009\t\t\nClaude Clément\t2009 Plan\t\t0\nDirector representing employee shareholders\t09/15/2009\t0\t\nTotal\t\t0\t0\n", "q10k_tbl_39": "\t\tNumber of beneficiaries\tNumber of options awarded(a)\tPercentage\t\tAverage number of options per beneficiary(a)\n2003 Plan(b)(d):: Subscription options\tMain executive officers(c)\t28\t356500\t12.2%\t\t12732\nDecision of the Board on July 16 2003\tOther executive officers\t319\t749206\t25.5%\t\t2349\nExercise price: €133.20; discount: 0.0%\tOther employees\t3603\t1829600\t62.3%\t\t508\nExercise price as of May 24 2006: €32.84(a)\tTotal\t3950\t2935306\t100%\t\t743\n2004 Plan(d): Subscription options\tMain executive officers(c)\t30\t423500\t12.6%\t\t14117\nDecision of the Board on July 20 2004\tOther executive officers\t319\t902400\t26.8%\t\t2829\nExercise price: €159.40; discount: 0.0%\tOther employees\t3997\t2039730\t60.6%\t\t510\nExercise price as of May 24 2006: €39.30(a)\tTotal\t4346\t3365630\t100%\t\t774\n2005 Plan(d): Subscription options\tMain executive officers(c)\t30\t370040\t24.3%\t\t12335\nDecision of the Board on July 19 2005\tOther executive officers\t330\t574140\t37.6%\t\t1740\nExercise price: €198.90; discount: 0.0%\tOther employees\t2361\t581940\t38.1%\t\t246\nExercise price as of May 24 2006: €49.04(a)\tTotal\t2721\t1526120\t100%\t\t561\n2006 Plan(d): Subscription options\tMain executive officers(c)\t28\t1447000\t25.3%\t\t51679\nDecision of the Board on July 18 2006\tOther executive officers\t304\t2120640\t37.0%\t\t6976\nExercise price: €50.60; discount: 0.0%\tOther employees\t2253\t2159600\t37.7%\t\t959\n\tTotal\t2585\t5727240\t100%\t\t2216\n2007 Plan(d)(e): Subscription options\tMain executive officers(c)\t27\t1329360\t22.8%\t\t49236\nDecision of the Board on July 17 2007\tOther executive officers\t298\t2162270\t37.1%\t\t7256\nExercise price: €60.10; discount: 0.0%\tOther employees\t2401\t2335600\t40.1%\t\t973\n\tTotal\t2726\t5827230\t100%\t\t2138\n2008 Plan(d)(e)(f): Subscription options\tMain executive officers(c)\t26\t1227500\t27.6%\t\t47212\nAwarded on October 9 2008 by decision of the Board of Directors on September 9 2008\tOther executive officers Other employees\t298 1690\t1988420 1233890\t44.7 27.7\t% %\t6673 730\nExercise price: €42.90; discount: 0.0%\tTotal\t2014\t4449810\t100%\t\t2209\n2009 Plan(d)(e)(g): Subscription options\tMain executive officers(c)\t26\t1201500\t27.4%\t\t46212\nDecision of the Board on September 15 2009\tOther executive officers\t284\t1825540\t41.6%\t\t6428\nExercise price: €39.90; discount: 0.0%\tOther employees\t1742\t1360460\t31.0%\t\t781\n\tTotal\t2052\t4387500\t100%\t\t2138\n2010 Plan(d)(e): Subscription options\tMain executive officers(c)\t25\t1348100\t28.2%\t\t53924\nDecision of the Board on September 14 2010\tOther executive officers\t282\t2047600\t42.8%\t\t7261\nExercise price: €38.20; discount: 0.0%\tOther employees\t1790\t1392720\t29.0%\t\t778\n\tTotal\t2097\t4788420\t100%\t\t2283\n2011 Plan(d)(e): Subscription options\tMain executive officers(c)\t29\t846600\t55.7%\t\t29193\nDecision of the Board on September 14 2011\tOther executive officers\t177\t672240\t44.3%\t\t3798\nExercise price: €33.00; discount: 0.0%\tOther employees\t0\t0\t0\t\t0\n\tTotal\t206\t1518840\t100%\t\t7373\n", "q10k_tbl_40": "\t2003 Plan\t2004 Plan\t2005 Plan\t2006 Plan\t2007 Plan\t2008 Plan\t2009 Plan\t2010 Plan\t2011 Plan\tTotal\nType of options\tSubscription options\tSubscription options\tSubscription options\tSubscription options\tSubscription options\tSubscription options\tSubscription options\tSubscription options\tSubscription options\t\nDate of the Shareholders' Meeting\t05/17/2001\t05/14/2004\t05/14/2004\t05/14/2004\t05/11/2007\t05/11/2007\t05/11/2007\t05/21/2010\t05/21/2010\t\nGrant date(a)\t07/16/2003\t07/20/2004\t07/19/2005\t07/18/2006\t07/17/2007\t10/09/2008\t09/15/2009\t09/14/2010\t09/14/2011\t\nTotal number of options awarded including(b):\t11741224\t13462520\t6104480\t5727240\t5937230\t4449810\t4387500\t4788420\t1518840\t58117264\nDirectors(c)\t240000\t240000\t240720\t400720\t310840\t200660\t200000\t240000\t160000\t2232940\n- C. de Margerie\tn/a\tn/a\tn/a\t160000\t200000\t200000\t200000\t240000\t160000\t1160000\n- C. Clément\tn/a\tn/a\tn/a\tn/a\tn/a\tn/a\tn/a\t0\t0\t0\n- D. Boeuf\tn/a\t0\t720\t720\t840\t660\t0\tn/a\tn/a\t2940\n- T. Desmarest\t240000\t240000\t240000\t240000\t110000\t0\t0\t0\tn/a\t1070000\nAdditional grant\t0\t24000\t134400\t0\t0\t0\t0\t0\t0\t158400\nAdjustments related to the spin-off of Arkema(d)\t163180\t196448\t90280\t0\t0\t0\t0\t0\t0\t449908\nDate as of which the options may be exercised\t07/17/2005\t07/21/2006\t07/20/2007\t07/19/2008\t07/18/2009\t10/10/2010\t09/16/2011\t09/15/2012\t09/15/2013\t\nExpiry date\t07/16/2011\t07/20/2012\t07/19/2013\t07/18/2014\t07/17/2015\t10/09/2016\t09/15/2017\t09/14/2018\t09/14/2019\t\nExercise price (€)(e)\t32.84\t39.30\t49.04\t50.60\t60.10\t42.90\t39.90\t38.20\t33.00\t\nCumulative number of options exercised as of December 31 2011\t11068508\t1266293\t38497\t8620\t0\t200\t1080\t2040\t9400\t\nCumulative number of options canceled as of December 31 2011\t835896\t322151\t128127\t95114\t86865\t113912\t28740\t86337\t1000\t\nNumber of options:\t\t\t\t\t\t\t\t\t\t\n- outstanding as of January 1 2011\t5734444\t12338847\t6178856\t5640886\t5866445\t4349158\t4371890\t4787300\t0\t49267826\n- awarded in 2011\t0\t0\t0\t0\t0\t0\t0\t0\t1518840\t1518840\n- canceled in 2011(f)(g)\t(738534)\t(28208)\t(16320)\t(17380)\t(16080)\t(13260)\t(14090)\t(85217)\t(1000)\t(930089)\n- exercised in 2011\t(4995910)\t(216115)\t0\t0\t0\t(200)\t0\t(2040)\t(9400)\t(5223665)\n- outstanding as of December 31 2011\t0\t12094524\t6162536\t5623506\t5850365\t4335698\t4357800\t4700043\t1508440\t44632912\n", "q10k_tbl_41": "\t2003 Plan\t2004 Plan\t2005 Plan\t2006 Plan\t2007 Plan\t2008 Plan\t2009 Plan\t2010 Plan\t2011 Plan\tTotal\nType of options\tSubscription options\tSubscription options\tSubscription options\tSubscription options\tSubscription options\tSubscription options\tSubscription options\tSubscription options\tSubscription options\t\nExpiry date\t07/16/2011\t07/20/2012\t07/19/2013\t07/18/2014\t07/17/2015\t10/09/2016\t09/15/2017\t09/14/2018\t09/14/2019\t\nExercise price (€)(a)\t32.84\t39.30\t49.04\t50.60\t60.10\t42.90\t39.90\t38.20\t33.00\t\nOptions awarded by the Board(b)\t680904\t848800\t711440\t851240\t1032120\t1138300\t1215300\t1406400\t846600\t8731104\nAdjustments related to the spin-off of Arkema(c)\t8988\t11992\t10048\t0\t0\t0\t0\t0\t0\t31028\nOptions outstanding as of January 01 2011\t277119\t757792\t721488\t851240\t1032120\t1059901\t1215300\t1406400\t\t7321360\nOptions awarded in 2011\t0\t0\t0\t0\t0\t0\t0\t0\t846600\t846600\nOptions exercised in 2011\t(277119)\t0\t0\t0\t0\t0\t0\t0\t0\t(277119)\nOptions canceled in 2011\t0\t0\t0\t0\t0\t0\t0\t(59000)\t0\t(59000)\nOptions outstanding as of December 31 2011\t0\t757792\t721488\t851240\t1032120\t1059901\t1215300\t1347400\t846600\t7831841\n", "q10k_tbl_42": "\t2003 Plan\t2004 Plan\t2005 Plan\t2006 Plan\t2007 Plan\t2008 Plan\t2009 Plan\t2010 Plan\t2011 Plan\tTotal\nType of options\tSubscription options\tSubscription options\tSubscription options\tSubscription options\tSubscription options\tSubscription options\tSubscription options\tSubscription options\tSubscription options\t\nExpiry date\t07/16/2011\t07/20/2012\t07/19/2013\t07/18/2014\t07/17/2015\t10/09/2016\t09/15/2017\t09/14/2018\t09/14/2019\t\nExercise price (€)(a)\t32.84\t39.30\t49.04\t50.60\t60.10\t42.90\t39.90\t38.20\t33.00\t\nOptions awarded by the Board(b)\t112000\t128000\t130000\t160000\t200000\t200000\t200000\t240000\t160000\t1530000\nAdjustments related to the spin-off of Arkema(c)\t1576\t1800\t1828\t0\t0\t0\t0\t0\t0\t5204\nOptions outstanding as of January 01 2011\t113576\t129800\t131828\t160000\t200000\t176667\t200000\t240000\t0\t1351871\nOptions awarded in 2011\t0\t0\t0\t0\t0\t0\t0\t0\t160000\t160000\nOptions exercised in 2011\t(113576)\t0\t0\t0\t0\t0\t0\t0\t0\t(113576)\nOptions canceled in 2011\t0\t0\t0\t0\t0\t0\t0\t0\t0\t0\nOptions outstanding as of December 31 2011\t0\t129800\t131828\t160000\t200000\t176667\t200000\t240000\t160000\t1398295\n", "q10k_tbl_43": "\tTotal number of options awarded/exercised\tExercise price (€)\t\tGrant date(a)\tExpiry date\nOptions awarded in 2011 to the ten employees of TOTAL S.A. or any company in the Group receiving the largest number of options\t430400\t33.00\t\t09/14/2011\t09/14/2019\nOptions exercised in 2011 by the ten employees of TOTAL S.A. or any company in the Group exercising the largest number of options(b)\t227671\t32.84\t\t07/16/2003\t07/16/2011\n\t9736\t39.30\t\t07/20/2004\t07/20/2012\n\t237407\t33.10\t(c)\t\t\n", "q10k_tbl_44": "\t\tNumber of beneficiaries\tNumber of shares awarded(a)\tPercentage\tAverage number of shares per beneficiary\n2005 Plan(b)\tMain executive officers(c)\t29\t13692\t2.4%\t472\nDecision of the Board on July 19 2005\tOther executive officers\t330\t74512\t13.1%\t226\n\tOther employees(d)\t6956\t481926\t84.5%\t69\n\tTotal\t7315\t570130\t100%\t78\n2006 Plan(b)\tMain executive officers(c)\t26\t49200\t2.2%\t1892\nDecision of the Board on July 18 2006\tOther executive officers\t304\t273832\t12.0%\t901\n\tOther employees(d)\t7509\t1952332\t85.8%\t260\n\tTotal\t7839\t2275364\t100%\t290\n2007 Plan(b)\tMain executive officers(c)\t26\t48928\t2.1%\t1882\nDecision of the Board on July 17 2007\tOther executive officers\t297\t272128\t11.5%\t916\n\tOther employees(d)\t8291\t2045309\t86.4%\t247\n\tTotal\t8614\t2366365\t100%\t275\n2008 Plan(b)\tMain executive officers(c)\t25\t49100\t1.8%\t1964\nAwarded on October 9 2008 by decision of the Board of Directors on September 9 2008\tOther executive officers\t300\t348156\t12.5%\t1161\nOther employees(d)\t\t9028\t2394712\t85.8%\t265\n\tTotal\t9353\t2791968\t100%\t299\n2009 Plan(b)\tMain executive officers(c)\t25\t48700\t1.6%\t1948\nDecision of the Board on September 15 2009\tOther executive officers\t284\t329912\t11.1%\t1162\n\tOther employees(d)\t9693\t2593406\t87.3%\t268\n\tTotal\t10002\t2972018\t100%\t297\n2010 Plan(e)\tMain executive officers(c)\t24\t46780\t1.6%\t1949\nDecision of the Board on September 14 2010\tOther executive officers\t283\t343080\t11.4%\t1212\n\tOther employees(d)\t10074\t2620151\t87.0%\t260\n\tTotal\t10381\t3010011\t100%\t290\n2011 Plan\tMain executive officers(c)\t29\t184900\t5.1%\t6376\nDecision of the Board on September 14 2011\tOther executive officers\t274\t624000\t17.1%\t2277\n\tOther employees(d)\t9658\t2840870\t77.8%\t294\n\tTotal\t9961\t3649770\t100%\t366\n", "q10k_tbl_45": "\t2005 Plan(a)\t\t2006 Plan\t\t2007 Plan\t\t2008 Plan\t\t2009 Plan\t2010 Plan\t2011 Plan\nDate of the Shareholders' Meeting\t05/17/2005\t\t05/17/2005\t\t05/17/2005\t\t05/16/2008\t\t05/16/2008\t05/16/2008\t05/13/2011\nGrant date(b)\t07/19/2005\t\t07/18/2006\t\t07/17/2007\t\t10/09/2008\t\t09/15/2009\t09/14/2010\t09/14/2011\nClosing price on grant date(c)\t€52.13\t\t€50.40\t\t€61.62\t\t€35.945\t\t€41.615\t€39.425\t€32.69\nAverage repurchase price per share paid by the Company\t€51.62\t\t€51.91\t\t€61.49\t\t€41.63\t\t€38.54\t€39.11\t€39.58\nTotal number of performance shares awarded including to\t2280520\t\t2275364\t\t2366365\t\t2791968\t\t2972018\t3010011\t3649770\n-Directors(d)\t416\t\t416\t\t432\t\t588\t\t0\t240\t16240\n-Ten employees with largest grants(e)\t20000\t\t20000\t\t20000\t\t20000\t\t20000\t20000\t91400\nStart of the vesting period:\t07/19/2005\t\t07/18/2006\t\t07/17/2007\t\t10/09/2008\t\t09/15/2009\t09/14/2010\t09/14/2011\nDate of final grant subject to specific condition (end of the vesting period)\t07/20/2007\t\t07/19/2008\t\t07/18/2009\t\t10/10/2010\t\t09/16/2011\t09/15/2012\t09/15/2013\nTransfer possible from (end of the mandatory holding period)\t07/20/2009\t\t07/19/2010\t\t07/18/2011\t\t10/10/2012\t\t09/16/2013\t09/15/2014\t09/15/2015\nNumber of performance shares:\t\t\t\t\t\t\t\t\t\t\t\n- Outstanding as of January 1 2011\t0\t\t0\t\t0\t\t0\t\t2954336\t3000637\t0\n-Awarded in 2011\t0\t\t0\t\t0\t\t\t\t0\t0\t3649770\n-Canceled in 2011\t800\t(g)\t700\t(g)\t792\t(g)\t356\t(g)\t(26214)\t(10750)\t(19579)\n-Finally granted in 2011(f)\t(800\t)(g)\t(700\t)(g)\t(792\t)(g)\t(356\t)(g)\t(2928122)\t(1836)\t0\n-Outstanding as of December 31 2011\t0\t\t0\t\t0\t\t0\t\t0\t2988051\t3630191\n", "q10k_tbl_46": "\t2010 Plan (2+2)(b)\t2010 Plan (4+0)(c)\tTotal\nDate of the Shareholders' Meeting\t05/16/2008\t05/16/2008\t\nGrant date(a)\t06/30/2010\t06/30/2010\t\nFinal grant date\t07/01/2012\t07/01/2014\t\nTransfer possible from\t07/01/2014\t07/01/2014\t\nOutstanding as of January 1 2010\t\t\t\nAwarded\t1508850\t1070650\t2579500\nCanceled\t(125)\t(75)\t(200)\nFinally granted(d)\t(75)\t\t(75)\nOutstanding as of January 1 2011\t1508650\t1070575\t2579225\nAwarded\t0\t0\t0\nCanceled\t(29175)\t(54625)\t(83800)\nFinally granted(d)\t(475)\t(425)\t(900)\nOutstanding as of December 31 2011\t1479000\t1015525\t2494525\n", "q10k_tbl_47": "\tNumber of performance shares granted/finally awarded\tGrant date\tDate of final grant (end of vesting period)\tEnd of mandatory holding period\nPerformance share grants approved by the Board meeting on September 14 2011 to the ten TOTAL S.A. employees (other than corporate executive officers) receiving the largest number of performance shares(a)\t91400\t09/14/2011\t09/15/2013\t09/15/2015\nPerformance shares finally awarded in 2011 following the performance share plan approved by the Board meeting on September 15 2009 to the ten employees (other than corporate executive officers) at the time of such approval receiving the largest number of performance shares(b)\t20000\t09/15/2009\t09/16/2011\t09/16/2013\n", "q10k_tbl_48": "\tUpstream\tDownstream\tChemicals\tCorporate\tTotal\n2011\t23563\t29423\t41665\t1453\t96104\n2010\t17192\t32631\t41658\t1374\t92855\n2009\t16628\t33760\t44667\t1332\t96387\n", "q10k_tbl_49": "\tFrance\tRest of Europe\tRest of the World\tTotal\n2011\t35037\t22453\t38614\t96104\n2010\t35169\t24931\t32755\t92855\n2009\t36407\t26299\t33681\t96387\n", "q10k_tbl_50": "\"TOTAL ACTIONNARIAT FRANCE\"\t78607765\n\"TOTAL ACTIONNARIAT INTERNATIONAL CAPITALISATION\"\t19691590\nELF PRIVATISATION N°1\t929494\nShares held by U.S. employees\t454305\nGroup Caisse Autonome (Belgium)\t436431\nTOTAL shares from the exercise of the Company's stock options and held as registered shares within a Company Savings Plan (PEE)(a)\t3293822\nTotal shares held by employee shareholder funds\t103413407\n", "q10k_tbl_51": "Year 2011\t\tAcquisition\tSubscription\tTransfer\tExchange\tExercise of stock options\nChristophe de Margerie(a)\tTOTAL shares\t0\t0\t93250\t0\t113576\n\tShares in collective investment plans (FCPE) and other related financial instruments(b)\t5340.09\t0\t0\t0\t0\nMichel Bénézit(a)\tTOTAL shares\t0\t0\t0\t0\t\n\tShares in collective investment plans (FCPE) and other related financial instruments(b)\t626.95\t13341.83\t6828.94\t0\t0\nFrançois Cornélis(a)\tTOTAL shares\t0\t0\t9000\t0\t\n\tShares in collective investment plans (FCPE) and other related financial instruments(b)\t1883.86\t11440.06\t5876.63\t0\t0\nYves-Louis Darricarrère(a)\tTOTAL shares\t0\t0\t14412\t0\t6412\n\tShares in collective investment plans (FCPE) and other related financial instruments(b)\t901.20\t20088.29\t10319.28\t0\t\nJean-Jacques Guilbaud(a)\tTOTAL shares\t0\t0\t29163\t0\t29163\n\tShares in collective investment plans (FCPE) and other related financial instruments(b)\t1008.85\t14320.92\t8636.03\t0\t0\nBertrand Jacquillat(a)(c)\tTOTAL shares\t300\t0\t33\t0\t0\n\tShares in collective investment plans (FCPE) and other related financial instruments(b)\t0\t0\t0\t0\t0\nPatrick de La Chevardière(a)\tTOTAL shares\t0\t0\t0\t0\t0\n\tShares in collective investment plans (FCPE) and other related financial instruments(b)\t756.08\t14998.66\t7587.71\t0\t0\n", "q10k_tbl_52": "\t2011\t\t\t2010\t\t2009\t\nAs of December 31\t% of share capital\t% of voting rights\t% of theoretical voting rights(a)\t% of share capital\t% of voting rights\t% of share capital\t% of voting rights\nGroupe Bruxelles Lambert(b)(c)\t4.0\t4.0\t3.7\t4.0\t4.0\t4.0\t4.0\nCompagnie Nationale à Portefeuille(b)(c)\t1.5\t1.6\t1.4\t1.6\t1.6\t1.4\t1.4\nBNP Paribas(b)\t0.2\t0.2\t0.1\t0.2\t0.2\t0.2\t0.2\nGroup employees(b)(d)\t4.4\t8.0\t7.4\t4.0\t7.7\t3.9\t7.5\nOther registered shareholders (non-Group)\t1.7\t2.8\t2.6\t1.4\t2.5\t1.4\t2.4\nTreasury shares\t4.6\t0\t8.1\t4.8\t0\t4.9\t0\nof which TOTAL S.A.\t0.4\t0\t0.4\t0.5\t0\t0.6\t0\nof which Total Nucléaire\t0.1\t0\t0.2\t0.1\t0\t0.1\t0\nof which subsidiaries of Elf Aquitaine\t4.2\t0\t7.6\t4.2\t0\t4.2\t0\nOther bearer shareholders\t83.6\t83.5\t76.7\t84.0\t84.0\t84.2\t84.5\nof which holders of ADS(e)\t8.7\t8.7\t8.0\t8.0\t8.0\t7.5\t7.6\n", "q10k_tbl_53": "Price per share (€)\tHigh\tLow\n2007\t63.40\t48.33\n2008\t59.50\t31.52\n2009\t45.785\t34.25\n2010\t46.735\t35.655\nFirst Quarter\t46.735\t40.050\nSecond Quarter\t44.625\t36.210\nThird Quarter\t41.000\t35.655\nFourth Quarter\t41.275\t36.910\n2011\t44.550\t29.400\nFirst Quarter\t44.550\t39.710\nSecond Quarter\t43.730\t37.305\nThird Quarter\t40.895\t29.400\nSeptember\t34.820\t29.400\nFourth Quarter\t39.810\t31.730\nOctober\t39.810\t31.730\nNovember\t38.705\t34.570\nDecember\t39.605\t35.940\n2012 (through February 29)\t42.400\t38.570\nJanuary\t40.890\t38.570\nFebruary\t42.400\t40.225\n", "q10k_tbl_54": "Price per ADR ($)\tHigh\tLow\n2007\t87.34\t63.89\n2008\t91.34\t42.60\n2009\t65.98\t42.88\n2010\t67.52\t43.07\nFirst Quarter\t67.52\t54.01\nSecond Quarter\t60.24\t43.07\nThird Quarter\t54.14\t44.43\nFourth Quarter\t58.06\t48.08\n2011\t64.44\t40.00\nFirst Quarter\t62.31\t52.61\nSecond Quarter\t64.44\t53.04\nThird Quarter\t58.25\t40.00\nSeptember\t49.79\t40.00\nFourth Quarter\t55.93\t41.85\nOctober\t55.93\t41.85\nNovember\t52.89\t46.72\nDecember\t52.46\t47.00\n2012 (through February 29)\t57.06\t48.82\nJanuary\t53.41\t48.82\nFebruary\t57.06\t53.01\n", "q10k_tbl_55": "Fiscal 2009\t\nJuly 30 2009\tReduction of the share capital from €5929520185 to €5867520185 through the cancellation of 24800000 treasury shares par value €2.50.\nJanuary 1 2010\tCertification of the issuance of 1414810 new shares par value €2.50 per share between January 1 and December 31 2009 raising the share capital by €3537025 from €5867520185 to €5871057210 (of which 934780 new shares issued through the exercise of the Company's stock options and 480030 new shares through the exchange of 80005 shares of Elf Aquitaine stock resulting from the exercise of Elf Aquitaine stock options and eligible for a guaranteed exchange for TOTAL shares).\nFiscal 2010\t\nJanuary 12 2011\tCertification of the issuance of 1218047 new shares par value €2.50 through the exercise of the Company's stock options between January 1 and December 31 2010 raising the share capital by €3045117.50 from €5871057210 to €5874102327.50.\nFiscal 2011\t\nApril 28 2011\tCertification of the subscription to 8902717 new shares par value €2.50 as part of the capital increase reserved for Group employees approved by the Board of Directors on October 28 2010 raising the share capital by €22256792.50 from €5874102327.50 to €5896359120.\nJanuary 12 2012\tCertification of the issuance of 5223665 new shares par value €2.50 through the exercise of the Company's stock options between January 1 and December 31 2011 raising the share capital by €13059162.50 from €5896359120 to €5909418282.50.\n", "q10k_tbl_56": "\tKPMG Year Ended December 31\t\tErnst & Young Audit Year Ended December 31\t\n(M€)\t2011\t2010\t2011\t2010\nAudit Fees\t14.1\t15.1\t15.6\t15.2\nAudit-Related Fees(a)\t3.8\t3.6\t1.9\t0.7\nTax Fees(b)\t1.6\t1.2\t1.4\t1.7\nAll Other Fees(c)\t0.2\t0.1\t0.2\t0.2\nTotal\t19.7\t20.0\t19.1\t17.8\n", "q10k_tbl_57": "Period\tTotal Number Of Shares Purchased\tAverage Price Paid Per Share (€)\tTotal Number Of Shares Purchased As Part Of Publicly Announced Plans Or Programs(a)\tMaximum Number Of Shares That May Yet Be Purchased Under The Plans Or Programs(b)\nJanuary 2011\t0\t0\t0\t122526633\nFebruary 2011\t0\t0\t0\t122588776\nMarch 2011\t0\t0\t0\t122626999\nApril 2011\t0\t0\t0\t123539732\nMay 2011\t0\t0\t0\t123567601\nJune 2011\t0\t0\t0\t123655175\nJuly 2011\t0\t0\t0\t123891589\nAugust 2011\t0\t0\t0\t123892274\nSeptember 2011\t0\t0\t0\t126818649\nOctober 2011\t0\t0\t0\t126819834\nNovember 2011\t0\t0\t0\t126822199\nDecember 2011\t0\t0\t0\t126822558\nJanuary 2012\t0\t0\t0\t126824217\nFebruary 2012\t0\t0\t0\t126836267\n", "q10k_tbl_58": "\tPage\nReport of Independent Registered Public Accounting Firms on the Consolidated Financial Statements\tF-1\nReport of Independent Registered Public Accounting Firms on the Internal Control over Financial Reporting\tF-2\nConsolidated Statement of Income for the Years Ended December 31 2011 2010 and 2009\tF-3\nConsolidated Statement of Comprehensive Income for the Years Ended December 31 2011 2010 and 2009\tF-4\nConsolidated Balance Sheet at December 31 2011 2010 and 2009\tF-5\nConsolidated Statement of Cash Flow for the Years Ended December 31 2011 2010 and 2009\tF-6\nConsolidated Statement of Changes in Shareholders' Equity for the Years Ended December 31 2011 2010 and 2009\tF-7\nNotes to the Consolidated Financial Statements\tF-8\nSupplemental Oil and Gas Information (Unaudited)\tS-1\n", "q10k_tbl_59": "1\tBylaws (Statuts) of TOTAL S.A. (as amended through December 31 2011)\n8\tList of Subsidiaries (see Note 35 to the Consolidated Financial Statements included in this Annual Report)\n11\tCode of Ethics (incorporated by reference to the Company's Annual Report on Form 20-F for the year ended December 31 2005)\n12.1\tCertification of Chairman and Chief Executive Officer\n12.2\tCertification of Chief Financial Officer\n13.1\tCertification of Chairman and Chief Executive Officer\n13.2\tCertification of Chief Financial Officer\n15\tConsent of ERNST & YOUNG AUDIT and of KPMG S.A.\n", "q10k_tbl_60": "For the year ended December 31 (M€)(a)\t\t2011\t2010\t2009\nSales\t(Notes 4 & 5)\t184693\t159269\t131327\nExcise taxes\t\t(18143)\t(18793)\t(19174)\nRevenues from sales\t\t166550\t140476\t112153\nPurchases net of inventory variation\t(Note 6)\t(113892)\t(93171)\t(71058)\nOther operating expenses\t(Note 6)\t(19843)\t(19135)\t(18591)\nExploration costs\t(Note 6)\t(1019)\t(864)\t(698)\nDepreciation depletion and amortization of tangible assets and mineral interests\t\t(7506)\t(8421)\t(6682)\nOther income\t(Note 7)\t1946\t1396\t314\nOther expense\t(Note 7)\t(1247)\t(900)\t(600)\nFinancial interest on debt\t\t(713)\t(465)\t(530)\nFinancial income from marketable securities & cash equivalents\t\t273\t131\t132\nCost of net debt\t(Note 29)\t(440)\t(334)\t(398)\nOther financial income\t(Note 8)\t609\t442\t643\nOther financial expense\t(Note 8)\t(429)\t(407)\t(345)\nEquity in income (loss) of affiliates\t(Note 12)\t1925\t1953\t1642\nIncome taxes\t(Note 9)\t(14073)\t(10228)\t(7751)\nConsolidated net income\t\t12581\t10807\t8629\nGroup share\t\t12276\t10571\t8447\nNon-controlling interests\t\t305\t236\t182\nEarnings per share (€)\t\t5.46\t4.73\t3.79\nFully-diluted earnings per share (€)\t\t5.44\t4.71\t3.78\n", "q10k_tbl_61": "For the year ended December 31 (M€)\t2011\t2010\t2009\nConsolidated net income\t12581\t10807\t8629\nOther comprehensive income\t\t\t\nCurrency translation adjustment\t1498\t2231\t(244)\nAvailable for sale financial assets\t337\t(100)\t38\nCash flow hedge\t(84)\t(80)\t128\nShare of other comprehensive income of associates net amount\t(15)\t302\t234\nOther\t(2)\t(7)\t(5)\nTax effect\t(55)\t28\t(38)\nTotal other comprehensive income (net amount) (note 17)\t1679\t2374\t113\nComprehensive income\t14260\t13181\t8742\n- Group share\t13911\t12936\t8500\n- Non-controlling interests\t349\t245\t242\n", "q10k_tbl_62": "As of December 31 (M€)\t\t2011\t2010\t2009\nASSETS\t\t\t\t\nNon-current assets\t\t\t\t\nIntangible assets net\t(Notes 5 & 10)\t12413\t8917\t7514\nProperty plant and equipment net\t(Notes 5 & 11)\t64457\t54964\t51590\nEquity affiliates: investments and loans\t(Note 12)\t12995\t11516\t13624\nOther investments\t(Note 13)\t3674\t4590\t1162\nHedging instruments of non-current financial debt\t(Note 20)\t1976\t1870\t1025\nOther non-current assets\t(Note 14)\t4871\t3655\t3081\nTotal non-current assets\t\t100386\t85512\t77996\nCurrent assets\t\t\t\t\nInventories net\t(Note 15)\t18122\t15600\t13867\nAccounts receivable net\t(Note 16)\t20049\t18159\t15719\nOther current assets\t(Note 16)\t10767\t7483\t8198\nCurrent financial assets\t(Note 20)\t700\t1205\t311\nCash and cash equivalents\t(Note 27)\t14025\t14489\t11662\nTotal current assets\t\t63663\t56936\t49757\nAssets classified as held for sale\t(Note 34)\t0\t1270\t0\nTotal assets\t\t164049\t143718\t127753\nLIABILITIES & SHAREHOLDERS' EQUITY\t\t\t\t\nShareholders' equity\t\t\t\t\nCommon shares\t\t5909\t5874\t5871\nPaid-in surplus and retained earnings\t\t66506\t60538\t55372\nCurrency translation adjustment\t\t(988)\t(2495)\t(5069)\nTreasury shares\t\t(3390)\t(3503)\t(3622)\nTotal shareholders' equity - Group share\t(Note 17)\t68037\t60414\t52552\nNon-controlling interests\t\t1352\t857\t987\nTotal shareholders' equity\t\t69389\t61271\t53539\nNon-current liabilities\t\t\t\t\nDeferred income taxes\t(Note 9)\t12260\t9947\t8948\nEmployee benefits\t(Note 18)\t2232\t2171\t2040\nProvisions and other non-current liabilities\t(Note 19)\t10909\t9098\t9381\nNon-current financial debt\t(Note 20)\t22557\t20783\t19437\nTotal non-current liabilities\t\t47958\t41999\t39806\nCurrent liabilities\t\t\t\t\nAccounts payable\t\t22086\t18450\t15383\nOther creditors and accrued liabilities\t(Note 21)\t14774\t11989\t11908\nCurrent borrowings\t(Note 20)\t9675\t9653\t6994\nOther current financial liabilities\t(Note 20)\t167\t159\t123\nTotal current liabilities\t\t46702\t40251\t34408\nLiabilities directly associated with the assets classified as held for sale\t(Note 34)\t0\t197\t0\nTotal liabilities and shareholders' equity\t\t164049\t143718\t127753\n", "q10k_tbl_63": "For the year ended December 31 (M€)\t2011\t2010\t2009\nCASH FLOW FROM OPERATING ACTIVITIES\t\t\t\nConsolidated net income\t12581\t10807\t8629\nDepreciation depletion and amortization\t8628\t9117\t7107\nNon-current liabilities valuation allowances and deferred taxes\t1665\t527\t441\nImpact of coverage of pension benefit plans\t0\t(60)\t0\n(Gains) losses on disposals of assets\t(1590)\t(1046)\t(200)\nUndistributed affiliates' equity earnings\t(107)\t(470)\t(378)\n(Increase) decrease in working capital\t(1739)\t(496)\t(3316)\nOther changes net\t98\t114\t77\nCash flow from operating activities\t19536\t18493\t12360\nCASH FLOW USED IN INVESTING ACTIVITIES\t\t\t\nIntangible assets and property plant and equipment additions\t(17950)\t(13812)\t(11849)\nAcquisitions of subsidiaries net of cash acquired\t(854)\t(862)\t(160)\nInvestments in equity affiliates and other securities\t(4525)\t(654)\t(400)\nIncrease in non-current loans\t(1212)\t(945)\t(940)\nTotal expenditures\t(24541)\t(16273)\t(13349)\nProceeds from disposals of intangible assets and property plant and equipment\t1439\t1534\t138\nProceeds from disposals of subsidiaries net of cash sold\t575\t310\t0\nProceeds from disposals of non-current investments\t5691\t1608\t2525\nRepayment of non-current loans\t873\t864\t418\nTotal divestments\t8578\t4316\t3081\nCash flow used in investing activities\t(15963)\t(11957)\t(10268)\nCASH FLOW USED IN FINANCING ACTIVITIES\t\t\t\nIssuance (repayment) of shares:\t\t\t\n- Parent company shareholders\t481\t41\t41\n- Treasury shares\t0\t49\t22\nDividends paid:\t\t\t\n- Parent company shareholders\t(5140)\t(5098)\t(5086)\n- Non-controlling interests\t(172)\t(152)\t(189)\nOther transactions with non-controlling interests\t(573)\t(429)\t0\nNet issuance (repayment) of non-current debt\t4069\t3789\t5522\nIncrease (decrease) in current borrowings\t(3870)\t(731)\t(3124)\nIncrease (decrease) in current financial assets and liabilities\t896\t(817)\t(54)\nCash flow used in financing activities\t(4309)\t(3348)\t(2868)\nNet increase (decrease) in cash and cash equivalents\t(736)\t3188\t(776)\nEffect of exchange rates\t272\t(361)\t117\nCash and cash equivalents at the beginning of the period\t14489\t11662\t12321\nCash and cash equivalents at the end of the period\t14025\t14489\t11662\n", "q10k_tbl_64": "\tCommon shares issued\t\tPaid-in surplus and retained earnings\t\tCurrency translation adjustment\t\tTreasury shares\t\tShareholders' equity - Group share\tNon-controlling interests\tTotal shareholders' equity\n(M€)\tNumber\tAmount\t\tNumber\t\tAmount\t\nAs of Janurary 1 2009\t2371808074\t5930\t52947\t\t(4876)\t\t(143082095)\t(5009)\t48992\t958\t49950\nNet income 2009\t0\t0\t8447\t\t0\t\t0\t0\t8447\t182\t8629\nOther comprehensive income (Note 17)\t0\t0\t246\t\t(193)\t\t0\t0\t53\t60\t113\nComprehensive income\t0\t0\t8693\t\t(193)\t\t0\t0\t8500\t242\t8742\nDividend\t0\t0\t(5086)\t\t0\t\t0\t0\t(5086)\t(189)\t(5275)\nIssuance of common shares (Note 17)\t1414810\t3\t38\t\t0\t\t0\t0\t41\t0\t41\nPurchase of treasury shares\t0\t0\t0\t\t0\t\t0\t0\t0\t0\t0\nSale of treasury shares(a)\t0\t0\t(143)\t\t0\t\t2874905\t165\t22\t0\t22\nShare-based payments (Note 25)\t0\t0\t106\t\t0\t\t0\t0\t106\t0\t106\nShare cancellation (Note 17)\t(24800000)\t(62)\t(1160)\t\t0\t\t24800000\t1222\t0\t0\t0\nOther operations with non-controlling interests\t0\t0\t(23)\t\t0\t\t0\t0\t(23)\t(24)\t(47)\nOther items\t0\t0\t0\t\t0\t\t0\t0\t0\t0\t0\nAs of December 31 2009\t2348422884\t5871\t55372\t\t(5069)\t\t(115407190)\t(3622)\t52552\t987\t53539\nNet income 2010\t0\t0\t10571\t\t0\t\t0\t0\t10571\t236\t10807\nOther comprehensive income (Note 17)\t0\t0\t(216)\t\t2581\t\t0\t0\t2365\t9\t2374\nComprehensive income\t0\t0\t10355\t\t2581\t\t0\t0\t12936\t245\t13181\nDividend\t0\t0\t(5098)\t\t0\t\t0\t0\t(5098)\t(152)\t(5250)\nIssuance of common shares (Note 17)\t1218047\t3\t38\t\t0\t\t0\t0\t41\t0\t41\nPurchase of treasury shares\t0\t0\t0\t\t0\t\t0\t0\t0\t0\t0\nSale of treasury shares(a)\t0\t0\t(70)\t\t0\t\t2919511\t119\t49\t0\t49\nShare-based payments (Note 25)\t0\t0\t140\t\t0\t\t0\t0\t140\t0\t140\nShare cancellation (Note 17)\t0\t0\t0\t\t0\t\t0\t0\t0\t0\t0\nOther operations with non-controlling interests\t0\t0\t(199)\t\t(7)\t\t0\t0\t(206)\t(223)\t(429)\nOther items\t0\t0\t0\t\t0\t\t0\t0\t0\t0\t0\nAs of December 31 2010\t2349640931\t5874\t60538\t\t(2495)\t\t(112487679)\t(3503)\t60414\t857\t61271\nNet income 2011\t0\t0\t12276\t\t0\t\t0\t0\t12276\t305\t12581\nOther comprehensive income (Note 17)\t0\t0\t231\t\t1404\t\t0\t0\t1635\t44\t1679\nComprehensive income\t0\t0\t12507\t\t1404\t\t0\t0\t13911\t349\t14260\nDividend\t0\t0\t(6457)\t\t0\t\t0\t0\t(6457)\t(172)\t(6629)\nIssuance of common shares (Note 17)\t14126382\t35\t446\t\t0\t\t0\t0\t481\t0\t481\nPurchase of treasury shares\t0\t0\t0\t\t0\t\t0\t0\t0\t0\t0\nSale of treasury shares(a)\t0\t0\t(113)\t\t0\t\t2933506\t113\t0\t0\t0\nShare-based payments (Note 25)\t0\t0\t161\t\t0\t\t0\t0\t161\t0\t161\nShare cancellation (Note 17)\t0\t0\t0\t\t0\t\t0\t0\t0\t0\t0\nOther operations with non-controlling interests\t0\t0\t(553)\t\t103\t\t0\t0\t(450)\t(123)\t(573)\nOther items\t0\t0\t(23)\t\t0\t\t0\t0\t(23)\t441\t418\nAs of December 31 2011\t2363767313\t5909\t66506\t\t(988)\t\t(109554173)\t(3390)\t68037\t1352\t69389\n", "q10k_tbl_65": "(M$)\tFair value at the acquisition date\t\nIntangible assets\t465\t\nTangible assets\t589\t\nAccounts receivable net\t396\t\nOther current assets\t223\t\nOther capital employed\t292\t\nNet debt\t(453)\t\nNet assets of SunPower (100%) as of June 21 2011\t1512\t\nShare attributable at 100% to non-controlling interests\t(76)\t\nNet assets of SunPower (100%) as of June 21 2011 to share\t1436\t\nGroup share 60%\t\t861\nGoodwill\t\t533\nAcquisition cost of SunPower's shares\t\t1394\nNon-controlling interests (40%)\t\t575\nReinclusion of the share attributable at 100% to non-controlling interests\t\t76\nNon-controlling interests as of June 21 2011\t\t651\n", "q10k_tbl_66": "For the year ended December 31 2011 (M€)\tUpstream\tDownstream\tChemicals\tCorporate\tIntercompany\tTotal\nNon-Group sales\t23298\t141907\t19477\t11\t0\t184693\nIntersegment sales\t27301\t5983\t1234\t185\t(34703)\t0\nExcise taxes\t0\t(18143)\t0\t0\t0\t(18143)\nRevenues from sales\t50599\t129747\t20711\t196\t(34703)\t166550\nOperating expenses\t(23079)\t(126145)\t(19566)\t(667)\t34703\t(134754)\nDepreciation depletion and amortization of tangible assets and mineral interests\t(5076)\t(1908)\t(487)\t(35)\t0\t(7506)\nOperating income\t22444\t1694\t658\t(506)\t0\t24290\nEquity in income (loss) of affiliates and other items\t1596\t401\t471\t336\t0\t2804\nTax on net operating income\t(13506)\t(409)\t(225)\t(38)\t0\t(14178)\nNet operating income\t10534\t1686\t904\t(208)\t0\t12916\nNet cost of net debt\t\t\t\t\t\t(335)\nNon-controlling interests\t\t\t\t\t\t(305)\nNet income\t\t\t\t\t\t12276\n", "q10k_tbl_67": "For the year ended December 31 2011 (adjustments(a)) (M€)\tUpstream\tDownstream\tChemicals\tCorporate\tIntercompany\tTotal\nNon-Group sales\t45\t\t\t\t\t45\nIntersegment sales\t\t\t\t\t\t0\nExcise taxes\t\t\t\t\t\t0\nRevenues from sales\t45\t\t\t\t\t45\nOperating expenses\t0\t1156\t(33)\t0\t\t1123\nDepreciation depletion and amortization of tangible assets and mineral interests\t(75)\t(700)\t(6)\t0\t\t(781)\nOperating income(b)\t(30)\t456\t(39)\t0\t0\t387\nEquity in income (loss) of affiliates and other items\t191\t256\t209\t90\t\t746\nTax on net operating income\t(32)\t(109)\t(41)\t(80)\t\t(262)\nNet operating income(b)\t129\t603\t129\t10\t\t871\nNet cost of net debt\t\t\t\t\t\t0\nNon-controlling interests\t\t\t\t\t\t(19)\nNet income\t\t\t\t\t\t852\n", "q10k_tbl_68": "For the year ended December 31 2011 (adjusted) (M€) (a)\tUpstream\tDownstream\tChemicals\tCorporate\tIntercompany\tTotal\nNon-Group sales\t23253\t141907\t19477\t11\t0\t184648\nIntersegment sales\t27301\t5983\t1234\t185\t(34703)\t0\nExcise taxes\t0\t(18143)\t0\t0\t0\t(18143)\nRevenues from sales\t50554\t129747\t20711\t196\t(34703)\t166505\nOperating expenses\t(23079)\t(127301)\t(19533)\t(667)\t34703\t(135877)\nDepreciation depletion and amortization of tangible assets and mineral interests\t(5001)\t(1208)\t(481)\t(35)\t0\t(6725)\nAdjusted operating income\t22474\t1238\t697\t(506)\t0\t23903\nEquity in income (loss) of affiliates and other items\t1405\t145\t262\t246\t0\t2058\nTax on net operating income\t(13474)\t(300)\t(184)\t42\t0\t(13916)\nAdjusted net operating income\t10405\t1083\t775\t(218)\t0\t12045\nNet cost of net debt\t\t\t\t\t\t(335)\nNon-controlling interests\t\t\t\t\t\t(286)\nAdjusted net income\t\t\t\t\t\t11424\nAdjusted fully-diluted earnings per share (€)\t\t\t\t\t\t5.06\n", "q10k_tbl_69": "For the year ended December 31 2011 (M€)\tUpstream\tDownstream\tChemicals\tCorporate\tIntercompany\tTotal\nTotal expenditures\t21689\t1870\t847\t135\t\t24541\nTotal divestments\t2656\t3235\t1164\t1523\t\t8578\nCash flow from operating activities\t17054\t2165\t512\t(195)\t\t19536\nBalance sheet as of December 31 2011\t\t\t\t\t\t\nProperty plant and equipment intangible assets net\t64069\t7918\t4638\t245\t\t76870\nInvestments in equity affiliates\t8932\t699\t1118\t0\t\t10749\nLoans to equity affiliates and other non-current assets\t4793\t1749\t1144\t3105\t\t10791\nWorking capital\t1240\t9627\t2585\t(1374)\t\t12078\nProvisions and other non-current liabilities\t(20095)\t(2577)\t(1593)\t(1136)\t\t(25401)\nAssets and liabilities classified as held for sale\t0\t0\t0\t0\t\t0\nCapital Employed (balance sheet)\t58939\t17416\t7892\t840\t\t85087\nLess inventory valuation effect\t0\t(3615)\t(419)\t13\t\t(4021)\nCapital Employed (Business segment information)\t58939\t13801\t7473\t853\t\t81066\nROACE as a percentage\t20%\t7%\t10%\t\t\t16%\n", "q10k_tbl_70": "For the year ended December 31 2010 (M€)\tUpstream\tDownstream\tChemicals\tCorporate\tIntercompany\tTotal\nNon-Group sales\t18527\t123245\t17490\t7\t0\t159269\nIntersegment sales\t22540\t4693\t981\t186\t(28400)\t0\nExcise taxes\t0\t(18793)\t0\t0\t0\t(18793)\nRevenues from sales\t41067\t109145\t18471\t193\t(28400)\t140476\nOperating expenses\t(18271)\t(105660)\t(16974)\t(665)\t28400\t(113170)\nDepreciation depletion and amortization of tangible assets and mineral interests\t(5346)\t(2503)\t(533)\t(39)\t0\t(8421)\nOperating income\t17450\t982\t964\t(511)\t0\t18885\nEquity in income (loss) of affiliates and other items\t1533\t141\t215\t595\t0\t2484\nTax on net operating income\t(10131)\t(201)\t(267)\t263\t0\t(10336)\nNet operating income\t8852\t922\t912\t347\t0\t11033\nNet cost of net debt\t\t\t\t\t\t(226)\nNon-controlling interests\t\t\t\t\t\t(236)\nNet income\t\t\t\t\t\t10571\n", "q10k_tbl_71": "For the year ended December 31 2010 (adjustments(a)) (M€)\tUpstream\tDownstream\tChemicals\tCorporate\tIntercompany\tTotal\nNon-Group sales\t\t\t\t\t\t\nIntersegment sales\t\t\t\t\t\t\nExcise taxes\t\t\t\t\t\t\nRevenues from sales\t\t\t\t\t\t\nOperating expenses\t0\t923\t92\t0\t\t1015\nDepreciation depletion and amortization of tangible assets and mineral interests\t(203)\t(1192)\t(21)\t0\t\t(1416)\nOperating income(b)\t(203)\t(269)\t71\t0\t\t(401)\nEquity in income (loss) of affiliates and other items(c)\t183\t(126)\t(16)\t227\t\t268\nTax on net operating income\t275\t149\t0\t(6)\t\t418\nNet operating income(b)\t255\t(246)\t55\t221\t\t285\nNet cost of net debt\t\t\t\t\t\t0\nNon-controlling interests\t\t\t\t\t\t(2)\nNet income\t\t\t\t\t\t283\n", "q10k_tbl_72": "(a) Adjustments include special items inventory valuation effect and until June 30 2010 equity share of adjustments related to Sanofi.\t\t\t\t\n(b) Of which inventory valuation effect\tUpstream\tDownstream\tChemicals\tCorporate\non operating income\t0\t863\t130\t0\non net operating income\t0\t640\t113\t0\n(c) Of which equity share of adjustments related to Sanofi\t0\t0\t0\t(81)\n", "q10k_tbl_73": "For the year ended December 31 2010 (adjusted) (M€)(a)\tUpstream\tDownstream\tChemicals\tCorporate\tIntercompany\tTotal\nNon-Group sales\t18527\t123245\t17490\t7\t0\t159269\nIntersegment sales\t22540\t4693\t981\t186\t(28400)\t0\nExcise taxes\t0\t(18793)\t0\t0\t0\t(18793)\nRevenues from sales\t41067\t109145\t18471\t193\t(28400)\t140476\nOperating expenses\t(18271)\t(106583)\t(17066)\t(665)\t28400\t(114185)\nDepreciation depletion and amortization of tangible assets and mineral interests\t(5143)\t(1311)\t(512)\t(39)\t0\t(7005)\nAdjusted operating income\t17653\t1251\t893\t(511)\t0\t19286\nEquity in income (loss) of affiliates and other items\t1350\t267\t231\t368\t0\t2216\nTax on net operating income\t(10406)\t(350)\t(267)\t269\t0\t(10754)\nAdjusted net operating income\t8597\t1168\t857\t126\t0\t10748\nNet cost of net debt\t\t\t\t\t\t(226)\nNon-controlling interests\t\t\t\t\t\t(234)\nAdjusted net income\t\t\t\t\t\t10288\nAdjusted fully-diluted earnings per share (€)\t\t\t\t\t\t4.58\n", "q10k_tbl_74": "For the year ended December 31 2010 (M€)\tUpstream\tDownstream\tChemicals\tCorporate\tIntercompany\tTotal\nTotal expenditures\t13208\t2343\t641\t81\t\t16273\nTotal divestments\t2067\t499\t347\t1403\t\t4316\nCash flow from operating activities\t15573\t1441\t934\t545\t\t18493\nBalance sheet as of December 31 2010\t\t\t\t\t\t\nProperty plant and equipment intangible assets net\t50565\t8675\t4388\t253\t\t63881\nInvestments in equity affiliates\t5002\t2782\t1349\t0\t\t9133\nLoans to equity affiliates and other non-current assets\t4184\t1366\t979\t4099\t\t10628\nWorking capital\t(363)\t9154\t2223\t(211)\t\t10803\nProvisions and other non-current liabilities\t(16076)\t(2328)\t(1631)\t(1181)\t\t(21216)\nAssets and liabilities classified as held for sale\t660\t0\t413\t0\t\t1073\nCapital Employed (balance sheet)\t43972\t19649\t7721\t2960\t\t74302\nLess inventory valuation effect\t0\t(4088)\t(409)\t1061\t\t(3436)\nCapital Employed (Business segment information)\t43972\t15561\t7312\t4021\t\t70866\nROACE as a percentage\t21%\t8%\t12%\t\t\t16%\n", "q10k_tbl_75": "For the year ended December 31 2009 (M€)\tUpstream\tDownstream\tChemicals\tCorporate\tIntercompany\tTotal\nNon-Group sales\t16072\t100518\t14726\t11\t0\t131327\nIntersegment sales\t15958\t3786\t735\t156\t(20635)\t0\nExcise taxes\t0\t(19174)\t0\t0\t0\t(19174)\nRevenues from sales\t32030\t85130\t15461\t167\t(20635)\t112153\nOperating expenses\t(14752)\t(81281)\t(14293)\t(656)\t20635\t(90347)\nDepreciation depletion and amortization of tangible assets and mineral interests\t(4420)\t(1612)\t(615)\t(35)\t0\t(6682)\nOperating income\t12858\t2237\t553\t(524)\t0\t15124\nEquity in income (loss) of affiliates and other items\t846\t169\t(58)\t697\t0\t1654\nTax on net operating income\t(7486)\t(633)\t(92)\t326\t0\t(7885)\nNet operating income\t6218\t1773\t403\t499\t0\t8893\nNet cost of net debt\t\t\t\t\t\t(264)\nNon-controlling interests\t\t\t\t\t\t(182)\nNet income\t\t\t\t\t\t8447\n", "q10k_tbl_76": "For the year ended December 31 2009 (adjustments(a)) (M€)\tUpstream\tDownstream\tChemicals\tCorporate\tIntercompany\tTotal\nNon-Group sales\t\t\t\t\t\t\nIntersegment sales\t\t\t\t\t\t\nExcise taxes\t\t\t\t\t\t\nRevenues from sales\t\t\t\t\t\t\nOperating expenses\t(17)\t1558\t344\t0\t\t1885\nDepreciation depletion and amortization of tangible assets and mineral interests\t(4)\t(347)\t(40)\t0\t\t(391)\nOperating income(b)\t(21)\t1211\t304\t0\t\t1494\nEquity in income (loss) of affiliates and other items(c)\t(160)\t22\t(123)\t(117)\t\t(378)\nTax on net operating income\t17\t(413)\t(50)\t(3)\t\t(449)\nNet operating income(b)\t(164)\t820\t131\t(120)\t\t667\nNet cost of net debt\t\t\t\t\t\t0\nNon-controlling interests\t\t\t\t\t\t(4)\nNet income\t\t\t\t\t\t663\n", "q10k_tbl_77": "For the year ended December 31 2009 (adjusted) (M€)(a)\tUpstream\tDownstream\tChemicals\tCorporate\tIntercompany\tTotal\nNon-Group sales\t16072\t100518\t14726\t11\t0\t131327\nIntersegment sales\t15958\t3786\t735\t156\t(20635)\t0\nExcise taxes\t0\t(19174)\t0\t0\t0\t(19174)\nRevenues from sales\t32030\t85130\t15461\t167\t(20635)\t112153\nOperating expenses\t(14735)\t(82839)\t(14637)\t(656)\t20635\t(92232)\nDepreciation depletion and amortization of tangible assets and mineral interests\t(4416)\t(1265)\t(575)\t(35)\t0\t(6291)\nAdjusted operating income\t12879\t1026\t249\t(524)\t0\t13630\nEquity in income (loss) of affiliates and other items\t1006\t147\t65\t814\t0\t2032\nTax on net operating income\t(7503)\t(220)\t(42)\t329\t0\t(7436)\nAdjusted net operating income\t6382\t953\t272\t619\t0\t8226\nNet cost of net debt\t\t\t\t\t\t(264)\nNon-controlling interests\t\t\t\t\t\t(178)\nAdjusted net income\t\t\t\t\t\t7784\nAdjusted fully-diluted earnings per share (€)\t\t\t\t\t\t3.48\n", "q10k_tbl_78": "For the year ended December 31 2009 (M€)\tUpstream\tDownstream\tChemicals\tCorporate\tIntercompany\tTotal\nTotal expenditures\t9855\t2771\t631\t92\t\t13349\nTotal divestments\t398\t133\t47\t2503\t\t3081\nCash flow from operating activities\t10200\t1164\t1082\t(86)\t\t12360\nBalance sheet as of December 31 2009\t\t\t\t\t\t\nProperty plant and equipment intangible assets net\t43997\t9588\t5248\t271\t\t59104\nInvestments in equity affiliates\t4260\t2110\t652\t4235\t\t11257\nLoans to equity affiliates and other non-current assets\t3844\t1369\t850\t547\t\t6610\nWorking capital\t660\t7624\t2151\t58\t\t10493\nProvisions and other non-current liabilities\t(15364)\t(2190)\t(1721)\t(1094)\t\t(20369)\nAssets and liabilities classified as held for sale\t0\t0\t0\t0\t\t0\nCapital Employed (balance sheet)\t37397\t18501\t7180\t4017\t\t67095\nLess inventory valuation effect\t0\t(3202)\t(282)\t840\t\t(2644)\nCapital Employed (Business segment information)\t37397\t15299\t6898\t4857\t\t64451\nROACE as a percentage\t18%\t7%\t4%\t\t\t13%\n", "q10k_tbl_79": "For the year ended December 31 (M€)\t2011\t2010\t2009\nAdjusted net income - Group share\t11424\t10288\t7784\nAdjusted non-controlling interests\t286\t234\t178\nAdjusted consolidated net income\t11710\t10522\t7962\nShareholders' equity - Group share\t68037\t60414\t52552\nDistribution of the income based on existing shares at the closing date\t(1255)\t(2553)\t(2546)\nNon-controlling interests\t1352\t857\t987\nAdjusted shareholders' equity(a)\t68134\t58718\t50993\nROE\t18%\t19%\t16%\n", "q10k_tbl_80": "For the year ended December 31 2011 (M€)\tAdjusted\tAdjustments(a)\tConsolidated statement of income\nSales\t184648\t45\t184693\nExcise taxes\t(18143)\t0\t(18143)\nRevenues from sales\t166505\t45\t166550\nPurchases net of inventory variation\t(115107)\t1215\t(113892)\nOther operating expenses\t(19751)\t(92)\t(19843)\nExploration costs\t(1019)\t0\t(1019)\nDepreciation depletion and amortization of tangible assets and mineral interests\t(6725)\t(781)\t(7506)\nOther income\t430\t1516\t1946\nOther expense\t(536)\t(711)\t(1247)\nFinancial interest on debt\t(713)\t0\t(713)\nFinancial income from marketable securities & cash equivalents\t273\t0\t273\nCost of net debt\t(440)\t0\t(440)\nOther financial income\t609\t0\t609\nOther financial expense\t(429)\t0\t(429)\nEquity in income (loss) of affiliates\t1984\t(59)\t1925\nIncome taxes\t(13811)\t(262)\t(14073)\nConsolidated net income\t11710\t871\t12581\nGroup share\t11424\t852\t12276\nNon-controlling interests\t286\t19\t305\n", "q10k_tbl_81": "For the year ended December 31 2010 (M€)\tAdjusted\tAdjustments(a)\tConsolidated statement of income\nSales\t159269\t0\t159269\nExcise taxes\t(18793)\t0\t(18793)\nRevenues from sales\t140476\t0\t140476\nPurchases net of inventory variation\t(94286)\t1115\t(93171)\nOther operating expenses\t(19035)\t(100)\t(19135)\nExploration costs\t(864)\t0\t(864)\nDepreciation depletion and amortization of tangible assets and mineral interests\t(7005)\t(1416)\t(8421)\nOther income\t524\t872\t1396\nOther expense\t(346)\t(554)\t(900)\nFinancial interest on debt\t(465)\t0\t(465)\nFinancial income from marketable securities & cash equivalents\t131\t0\t131\nCost of net debt\t(334)\t0\t(334)\nOther financial income\t442\t0\t442\nOther financial expense\t(407)\t0\t(407)\nEquity in income (loss) of affiliates\t2003\t(50)\t1953\nIncome taxes\t(10646)\t418\t(10228)\nConsolidated net income\t10522\t285\t10807\nGroup share\t10288\t283\t10571\nNon-controlling interests\t234\t2\t236\n", "q10k_tbl_82": "For the year ended December 31 2009 (M€)\tAdjusted\tAdjustments(a)\tConsolidated statement of income\nSales\t131327\t0\t131327\nExcise taxes\t(19174)\t0\t(19174)\nRevenues from sales\t112153\t0\t112153\nPurchases net of inventory variation\t(73263)\t2205\t(71058)\nOther operating expenses\t(18271)\t(320)\t(18591)\nExploration costs\t(698)\t0\t(698)\nDepreciation depletion and amortization of tangible assets and mineral interests\t(6291)\t(391)\t(6682)\nOther income\t131\t183\t314\nOther expense\t(315)\t(285)\t(600)\nFinancial interest on debt\t(530)\t0\t(530)\nFinancial income from marketable securities & cash equivalents\t132\t0\t132\nCost of net debt\t(398)\t0\t(398)\nOther financial income\t643\t0\t643\nOther financial expense\t(345)\t0\t(345)\nEquity in income (loss) of affiliates\t1918\t(276)\t1642\nIncome taxes\t(7302)\t(449)\t(7751)\nConsolidated net income\t7962\t667\t8629\nGroup share\t7784\t663\t8447\nNon-controlling interests\t178\t4\t182\n", "q10k_tbl_83": "Adjustments to operating income For the year ended December 31 2011 (M€)\tUpstream\tDownstream\tChemicals\tCorporate\tTotal\nInventory valuation effect\t0\t1224\t(9)\t0\t1215\nEffect of changes in fair value\t45\t0\t0\t0\t45\nRestructuring charges\t0\t0\t0\t0\t0\nAsset impairment charges\t(75)\t(700)\t(6)\t0\t(781)\nOther items\t0\t(68)\t(24)\t0\t(92)\nTotal\t(30)\t456\t(39)\t0\t387\n", "q10k_tbl_84": "Adjustments to net income Group share For the year ended December 31 2011 (M€)\tUpstream\tDownstream\tChemicals\tCorporate\tTotal\nInventory valuation effect\t0\t824\t10\t0\t834\nEffect of changes in fair value\t32\t0\t0\t0\t32\nRestructuring charges\t0\t(113)\t(9)\t0\t(122)\nAsset impairment charges\t(531)\t(478)\t(5)\t0\t(1014)\nGains (losses) on disposals of assets\t843\t412\t209\t74\t1538\nOther items\t(202)\t(74)\t(76)\t(64)\t(416)\nTotal\t142\t571\t129\t10\t852\n", "q10k_tbl_85": "Adjustments to operating income For the year ended December 31 2010 (M€)\tUpstream\tDownstream\tChemicals\tCorporate\tTotal\nInventory valuation effect\t0\t863\t130\t0\t993\nRestructuring charges\t0\t0\t0\t0\t0\nAsset impairment charges\t(203)\t(1192)\t(21)\t0\t(1416)\nOther items\t0\t60\t(38)\t0\t22\nTotal\t(203)\t(269)\t71\t0\t(401)\n", "q10k_tbl_86": "Adjustments to net income Group share For the year ended December 31 2010 (M€)\tUpstream\tDownstream\tChemicals\tCorporate\tTotal\nInventory valuation effect\t0\t635\t113\t0\t748\nTOTAL's equity share of adjustments related to Sanofi\t0\t0\t0\t(81)\t(81)\nRestructuring charges\t0\t(12)\t(41)\t0\t(53)\nAsset impairment charges\t(297)\t(913)\t(14)\t0\t(1224)\nGains (losses) on disposals of assets\t589\t122\t33\t302\t1046\nOther items\t(37)\t(83)\t(33)\t0\t(153)\nTotal\t255\t(251)\t58\t221\t283\n", "q10k_tbl_87": "Adjustments to operating income For the year ended December 31 2009 (M€)\tUpstream\tDownstream\tChemicals\tCorporate\tTotal\nInventory valuation effect\t0\t1816\t389\t0\t2205\nRestructuring charges\t0\t0\t0\t0\t0\nAsset impairment charges\t(4)\t(347)\t(40)\t0\t(391)\nOther items\t(17)\t(258)\t(45)\t0\t(320)\nTotal\t(21)\t1211\t304\t0\t1494\nAdjustments to net income Group share For the year ended December 31 2009 (M€)\tUpstream\tDownstream\tChemicals\tCorporate\tTotal\nInventory valuation effect\t0\t1279\t254\t0\t1533\nTOTAL's equity share of adjustments related to Sanofi\t0\t0\t0\t(300)\t(300)\nRestructuring charges\t0\t(27)\t(102)\t0\t(129)\nAsset impairment charges\t(52)\t(253)\t(28)\t0\t(333)\nGains (losses) on disposals of assets\t0\t0\t0\t179\t179\nOther items\t(112)\t(182)\t7\t0\t(287)\nTotal\t(164)\t817\t131\t(121)\t663\n", "q10k_tbl_88": "(M€)\tFrance\tRest of Europe\tNorth America\tAfrica\tRest of the world\tTotal\nFor the year ended December 31 2011\t\t\t\t\t\t\nNon-Group sales\t42626\t81453\t15917\t15077\t29620\t184693\nProperty plant and equipment intangible assets net\t5637\t15576\t14518\t23546\t17593\t76870\nCapital expenditures\t1530\t3802\t5245\t5264\t8700\t24541\nFor the year ended December 31 2010\t\t\t\t\t\t\nNon-Group sales\t36820\t72636\t12432\t12561\t24820\t159269\nProperty plant and equipment intangible assets net\t5666\t14568\t9584\t20166\t13897\t63881\nCapital expenditures\t1062\t2629\t3626\t4855\t4101\t16273\nFor the year ended December 31 2009\t\t\t\t\t\t\nNon-Group sales\t32437\t60140\t9515\t9808\t19427\t131327\nProperty plant and equipment intangible assets net\t6973\t15218\t8112\t17312\t11489\t59104\nCapital expenditures\t1189\t2502\t1739\t4651\t3268\t13349\n", "q10k_tbl_89": "For the year ended December 31 (M€)\t2011\t\t2010\t2009\nPurchases net of inventory variation(a)\t(113892\t)(b)\t(93171)\t(71058)\nExploration costs\t(1019)\t\t(864)\t(698)\nOther operating expenses(c)\t(19843)\t\t(19135)\t(18591)\nof which non-current operating liabilities (allowances) reversals\t615\t\t387\t515\nof which current operating liabilities (allowances) reversals\t(150)\t\t(101)\t(43)\nOperating expenses\t(134754)\t\t(113170)\t(90347)\n", "q10k_tbl_90": "For the year ended December 31 (M€)\t2011\t2010\t2009\nGains (losses) on disposal of assets\t1650\t1117\t200\nForeign exchange gains\t118\t0\t0\nOther\t178\t279\t114\nOther income\t1946\t1396\t314\nForeign exchange losses\t0\t0\t(32)\nAmortization of other intangible assets (excl. mineral interests)\t(592)\t(267)\t(142)\nOther\t(655)\t(633)\t(426)\nOther expense\t(1247)\t(900)\t(600)\n", "q10k_tbl_91": "As of December 31 (M€)\t2011\t2010\t2009\nDividend income on non-consolidated subsidiaries\t330\t255\t210\nCapitalized financial expenses\t171\t113\t117\nOther\t108\t74\t316\nOther financial income\t609\t442\t643\nAccretion of asset retirement obligations\t(344)\t(338)\t(283)\nOther\t(85)\t(69)\t(62)\nOther financial expense\t(429)\t(407)\t(345)\n", "q10k_tbl_92": "For the year ended December 31 (M€)\t2011\t2010\t2009\nCurrent income taxes\t(12495)\t(9934)\t(7213)\nDeferred income taxes\t(1578)\t(294)\t(538)\nTotal income taxes\t(14073)\t(10228)\t(7751)\n", "q10k_tbl_93": "As of December 31 (M€)\t2011\t2010\t2009\nNet operating losses and tax carry forwards\t1584\t1145\t1114\nEmployee benefits\t621\t535\t517\nOther temporary non-deductible provisions\t3521\t2757\t2184\nGross deferred tax assets\t5726\t4437\t3815\nValuation allowance\t(667)\t(576)\t(484)\nNet deferred tax assets\t5059\t3861\t3331\nExcess tax over book depreciation\t(12831)\t(10966)\t(9791)\nOther temporary tax deductions\t(2721)\t(1339)\t(1179)\nGross deferred tax liability\t(15552)\t(12305)\t(10970)\nNet deferred tax liability\t(10493)\t(8444)\t(7639)\n", "q10k_tbl_94": "As of December 31 (M€)\t2011\t2010\t2009\nDeferred tax assets non-current (note 14)\t1767\t1378\t1164\nDeferred tax assets current (note 16)\t0\t151\t214\nDeferred tax liabilities non-current\t(12260)\t(9947)\t(8948)\nDeferred tax liabilities current\t0\t(26)\t(69)\nNet amount\t(10493)\t(8444)\t(7639)\n", "q10k_tbl_95": "As of December 31 (M€)\t2011\t2010\t2009\nOpening balance\t(8444)\t(7639)\t(6857)\nDeferred tax on income\t(1578)\t(294)\t(538)\nDeferred tax on shareholders' equity(a)\t(55)\t28\t(38)\nChanges in scope of consolidation\t(17)\t(59)\t(1)\nCurrency translation adjustment\t(399)\t(480)\t(205)\nClosing balance\t(10493)\t(8444)\t(7639)\n", "q10k_tbl_96": "For the year ended December 31 (M€)\t2011\t2010\t2009\nConsolidated net income\t12581\t10807\t8629\nProvision for income taxes\t14073\t10228\t7751\nPre-tax income\t26654\t21035\t16380\nFrench statutory tax rate\t36.10%\t34.43%\t34.43%\nTheoretical tax charge\t(9622)\t(7242)\t(5640)\nDifference between French and foreign income tax rates\t(5740)\t(4921)\t(3214)\nTax effect of equity in income (loss) of affiliates\t695\t672\t565\nPermanent differences\t889\t1375\t597\nAdjustments on prior years income taxes\t(19)\t(45)\t(47)\nAdjustments on deferred tax related to changes in tax rates\t(201)\t2\t(1)\nChanges in valuation allowance of deferred tax assets\t(71)\t(65)\t(6)\nOther\t(4)\t(4)\t(5)\nNet provision for income taxes\t(14073)\t(10228)\t(7751)\n", "q10k_tbl_97": "\t2011\t\t2010\t\t2009\t\nAs of December 31 (M€)\tBasis\tTax\tBasis\tTax\tBasis\tTax\n2010\t0\t0\t0\t0\t258\t126\n2011\t0\t0\t225\t110\t170\t83\n2012\t242\t115\t177\t80\t121\t52\n2013\t171\t81\t146\t59\t133\t43\n2014(a)\t104\t47\t1807\t602\t1804\t599\n2015(b)\t8\t2\t190\t62\t0\t0\n2016 and after\t2095\t688\t0\t0\t0\t0\nUnlimited\t2119\t651\t774\t232\t661\t211\nTotal\t4739\t1584\t3319\t1145\t3147\t1114\n", "q10k_tbl_98": "As of December 31 2011 (M€)\tCost\tAmortization and impairment\tNet\nGoodwill\t1903\t(993)\t910\nProved and unproved mineral interests\t13719\t(3181)\t10538\nOther intangible assets\t3377\t(2412)\t965\nTotal intangible assets\t18999\t(6586)\t12413\n", "q10k_tbl_99": "As of December 31 2010 (M€)\tCost\tAmortization and impairment\tNet\nGoodwill\t1498\t(596)\t902\nProved and unproved mineral interests\t10099\t(2712)\t7387\nOther intangible assets\t2803\t(2175)\t628\nTotal intangible assets\t14400\t(5483)\t8917\n", "q10k_tbl_100": "As of December 31 2009 (M€)\tCost\tAmortization and impairment\tNet\nGoodwill\t1776\t(614)\t1162\nProved and unproved mineral interests\t8204\t(2421)\t5783\nOther intangible assets\t2712\t(2143)\t569\nTotal intangible assets\t12692\t(5178)\t7514\n", "q10k_tbl_101": "(M€)\tNet amount as of January 1\tAcquisitions\tDisposals\tAmortization and impairment\tCurrency translation adjustment\tOther\tNet amount as of December 31\n2011\t8917\t2504\t(428)\t(991)\t358\t2053\t12413\n2010\t7514\t2466\t(62)\t(553)\t491\t(939)\t8917\n2009\t5341\t629\t(64)\t(345)\t2\t1951\t7514\n", "q10k_tbl_102": "(M€)\tNet goodwill as of January 1 2011\tIncreases\tImpairments\tOther\tNet goodwill as of December 31 2011\nUpstream\t78\t396\t(383)\t(2)\t89\nDownstream\t82\t0\t(1)\t(12)\t69\nChemicals\t717\t23\t(4)\t(9)\t727\nCorporate\t25\t0\t0\t0\t25\nTotal\t902\t419\t(388)\t(23)\t910\n", "q10k_tbl_103": "As of December 31 2011 (M€)\tCost\tDepreciation and impairment\tNet\nUpstream properties\t\t\t\nProved properties\t84222\t(54589)\t29633\nUnproved properties\t209\t0\t209\nWork in progress\t21190\t(15)\t21175\nSubtotal\t105621\t(54604)\t51017\nOther property plant and equipment\t\t\t\nLand\t1346\t(398)\t948\nMachinery plant and equipment (including transportation equipment)\t25838\t(18349)\t7489\nBuildings\t6241\t(4131)\t2110\nWork in progress\t1534\t(306)\t1228\nOther\t6564\t(4899)\t1665\nSubtotal\t41523\t(28083)\t13440\nTotal property plant and equipment\t147144\t(82687)\t64457\n", "q10k_tbl_104": "As of December 31 2010 (M€)\tCost\tDepreciation and impairment\tNet\nUpstream properties\t\t\t\nProved properties\t77183\t(50582)\t26601\nUnproved properties\t347\t(1)\t346\nWork in progress\t14712\t(37)\t14675\nSubtotal\t92242\t(50620)\t41622\nOther property plant and equipment\t\t\t\nLand\t1304\t(393)\t911\nMachinery plant and equipment (including transportation equipment)\t23831\t(17010)\t6821\nBuildings\t6029\t(3758)\t2271\nWork in progress\t2350\t(488)\t1862\nOther\t6164\t(4687)\t1477\nSubtotal\t39678\t(26336)\t13342\nTotal property plant and equipment\t131920\t(76956)\t54964\n", "q10k_tbl_105": "As of December 31 2009 (M€)\tCost\tDepreciation and impairment\tNet\nUpstream properties\t\t\t\nProved properties\t71082\t(44718)\t26364\nUnproved properties\t182\t(1)\t181\nWork in progress\t10351\t(51)\t10300\nSubtotal\t81615\t(44770)\t36845\nOther property plant and equipment\t\t\t\nLand\t1458\t(435)\t1023\nMachinery plant and equipment (including transportation equipment)\t22927\t(15900)\t7027\nBuildings\t6142\t(3707)\t2435\nWork in progress\t2774\t(155)\t2619\nOther\t6506\t(4865)\t1641\nSubtotal\t39807\t(25062)\t14745\nTotal property plant and equipment\t121422\t(69832)\t51590\n", "q10k_tbl_106": "(M€)\tNet amount as of January 1\tAcquisitions\tDisposals\tDepreciation and impairment\tCurrency translation adjustment\tOther\tNet amount as of December 31\n2011\t54964\t15443\t(1489)\t(7636)\t1692\t1483\t64457\n2010\t51590\t11346\t(1269)\t(8564)\t2974\t(1113)\t54964\n2009\t46142\t11212\t(65)\t(6765)\t397\t669\t51590\n", "q10k_tbl_107": "As of December 31 2011 (M€)\tCost\tDepreciation and impairment\tNet\nMachinery plant and equipment\t414\t(284)\t130\nBuildings\t54\t(25)\t29\nOther\t0\t0\t0\nTotal\t468\t(309)\t159\nAs of December 31 2010 (M€)\tCost\tDepreciation and impairment\tNet\nMachinery plant and equipment\t480\t(332)\t148\nBuildings\t54\t(24)\t30\nOther\t0\t0\t0\nTotal\t534\t(356)\t178\nAs of December 31 2009 (M€)\tCost\tDepreciation and impairment\tNet\nMachinery plant and equipment\t548\t(343)\t205\nBuildings\t60\t(30)\t30\nOther\t0\t0\t0\nTotal\t608\t(373)\t235\n", "q10k_tbl_108": "\t\tAs of December 31\t\t\t\t\t\nEquity value (M€)\t2011\t2010\t2009\t2011\t\t2010\t2009\n% owned\t\t\t\tequity value\t\t\t\nNLNG\t15.00%\t15.00%\t15.00%\t\t953\t1108\t1136\nPetroCedeño - EM\t30.32%\t30.32%\t30.32%\t\t1233\t1136\t874\nCEPSA (Upstream share)(d)\t0\t48.83%\t48.83%\t\t0\t340\t385\nAngola LNG Ltd.\t13.60%\t13.60%\t13.60%\t\t869\t710\t490\nQatargas\t10.00%\t10.00%\t10.00%\t\t97\t85\t83\nSociété du Terminal Méthanier de Fos Cavaou\t27.60%\t28.03%\t28.79%\t\t119\t125\t124\nDolphin Energy Ltd (Del) Abu Dhabi\t24.50%\t24.50%\t24.50%\t\t208\t172\t118\nQatar Liquefied Gas Company Limited II (Train B)\t16.70%\t16.70%\t16.70%\t\t209\t184\t143\nYemen LNG Co\t39.62%\t39.62%\t39.62%\t\t169\t25\t(15)\nShtokman Development AG\t25.00%\t25.00%\t25.00%\t\t248\t214\t162\nAMYRIS(a)\t21.37%\t22.03%\t0\t\t79\t101\t0\nNovatek(e)\t14.09%\t0\t0\t\t3368\t0\t0\nOther\t0\t0\t0\t\t803\t724\t760\nTotal associates\t\t\t\t\t8355\t4924\t4260\nYamal LNG(e)\t20.01%\t0\t0\t\t495\t0\t0\nIchthys LNG Ltd(e)\t24.00%\t0\t0\t\t82\t0\t0\nOther\t0\t0\t0\t\t0\t78\t0\nTotal jointly-controlled entities\t\t\t\t\t577\t78\t0\nTotal Upstream\t\t\t\t\t8932\t5002\t4260\nCEPSA (Downstream share)(d)\t0\t48.83%\t48.83%\t\t0\t2151\t1927\nSaudi Aramco Total Refining & Petrochemicals (Downstream share)\t37.50%\t37.50%\t37.50%\t\t112\t47\t60\nOther\t0\t0\t0\t\t166\t159\t123\nTotal associates\t\t\t\t\t278\t2357\t2110\nSARA(c)\t50.00%\t50.00%\t0\t\t125\t134\t0\nTotalErg(a)\t49.00%\t49.00%\t0\t\t296\t289\t0\nOther\t0\t0\t0\t\t0\t2\t0\nTotal jointly-controlled entities\t\t\t\t\t421\t425\t0\nTotal Downstream\t\t\t\t\t699\t2782\t2110\nCEPSA (Chemicals share)(d)\t0\t48.83%\t48.83%\t\t0\t411\t396\nQatar Petrochemical Company Ltd.\t20.00%\t20.00%\t20.00%\t\t240\t221\t205\nSaudi Aramco Total Refining & Petrochemicals (Chemicals share)\t37.50%\t37.50%\t37.50%\t\t9\t4\t5\nQatofin Company Limited\t36.36%\t36.36%\t36.36%\t\t136\t27\t9\nOther\t0\t0\t0\t\t27\t41\t37\nTotal associates\t\t\t\t\t412\t704\t652\nSamsung Total Petrochemicals(c)\t50.00%\t50.00%\t0\t\t706\t645\t0\nTotal jointly-controlled entities\t\t\t\t\t706\t645\t0\nTotal Chemicals\t\t\t\t\t1118\t1349\t652\nSanofi(b)\t0\t0\t7.39%\t\t0\t0\t4235\nTotal associates\t\t\t\t\t0\t0\t4235\nTotal jointly-controlled entities\t\t\t\t\t0\t0\t0\nTotal Corporate\t\t\t\t\t0\t0\t4235\nTotal investments\t\t\t\t\t10749\t9133\t11257\nLoans\t\t\t\t\t2246\t2383\t2367\nTotal investments and loans\t\t\t\t\t12995\t11516\t13624\n", "q10k_tbl_109": "\tAs of December 31\t\t\tFor the year ended December 31\t\t\n\t2011\t2010\t2009\t2011\t2010\t2009\nEquity in income (loss) (M€)\t% owned\t\t\tEquity in income (loss)\t\t\nNLNG\t15.00%\t15.00%\t15.00%\t374\t207\t227\nPetroCedeño - EM\t30.32%\t30.32%\t30.32%\t55\t195\t166\nCEPSA (Upstream share)(d)\t0\t48.83%\t48.83%\t15\t57\t23\nAngola LNG Ltd.\t13.60%\t13.60%\t13.60%\t6\t8\t9\nQatargas\t10.00%\t10.00%\t10.00%\t196\t136\t114\nSociété du Terminal Méthanier de Fos Cavaou\t27.60%\t28.03%\t28.79%\t13\t0\t0\nDolphin Energy Ltd (Del) Abu Dhabi\t24.50%\t24.50%\t24.50%\t131\t121\t94\nQatar Liquefied Gas Company Limited II (Train B)\t16.70%\t16.70%\t16.70%\t446\t288\t8\nYemen LNG Co\t39.62%\t39.62%\t39.62%\t130\t37\t34\nShtokman Development AG\t25.00%\t25.00%\t25.00%\t1\t(5)\t4\nAMYRIS(a)\t21.37%\t22.03%\t0\t(23)\t(3)\t0\nNovatek(e)\t14.09%\t0\t0\t24\t0\t0\nOther\t0\t0\t0\t274\t140\t180\nTotal associates\t\t\t\t1642\t1181\t859\nYamal LNG(e)\t20.01%\t0\t0\t0\t0\t0\nIchthys LNG Ltd(e)\t24.00%\t0\t0\t(7)\t0\t0\nOther\t0\t0\t0\t(56)\t6\t0\nTotal jointly-controlled entities\t\t\t\t(63)\t6\t0\nTotal Upstream\t\t\t\t1579\t1187\t859\nCEPSA (Downstream share)(d)\t0\t48.83%\t48.83%\t26\t172\t149\nSaudi Aramco Total Refining & Petrochemicals (Downstream share)\t37.50%\t37.50%\t37.50%\t(27)\t(19)\t(12)\nOther\t0\t0\t0\t24\t76\t81\nTotal associates\t\t\t\t23\t229\t218\nSARA(c)\t50.00%\t50.00%\t0\t11\t31\t0\nTotalErg(a)\t49.00%\t49.00%\t0\t7\t(11)\t0\nOther\t0\t0\t0\t1\t2\t0\nTotal jointly-controlled entities\t\t\t\t19\t22\t0\nTotal Downstream\t\t\t\t42\t251\t218\nCEPSA (Chemicals share)(d)\t0\t48.83%\t48.83%\t19\t78\t10\nQatar Petrochemical Company Ltd.\t20.00%\t20.00%\t20.00%\t89\t84\t74\nSaudi Aramco Total Refining & Petrochemicals (Chemicals share)\t37.50%\t37.50%\t37.50%\t(3)\t(1)\t(1)\nQatofin Company Limited\t36.36%\t36.36%\t36.36%\t98\t36\t(5)\nOther\t0\t0\t0\t(13)\t5\t1\nTotal associates\t\t\t\t190\t202\t79\nSamsung Total Petrochemicals(c)\t50.00%\t50.00%\t0\t114\t104\t0\nTotal jointly-controlled entities\t\t\t\t114\t104\t0\nTotal Chemicals\t\t\t\t304\t306\t79\nSanofi(b)\t0\t0\t7.39%\t0\t209\t486\nTotal associates\t\t\t\t0\t209\t486\nTotal jointly-controlled entities\t\t\t\t0\t0\t0\nTotal Corporate\t\t\t\t0\t209\t486\nTotal investments\t\t\t\t1925\t1953\t1642\n", "q10k_tbl_110": "As of December 31 (M€)\t2011\t\t2010\t\t2009\t\n\tAssociates\tJointly- controlled entities\tAssociates\tJointly- controlled entities\tAssociates\tJointly- controlled entities\nAssets\t18088\t3679\t19192\t2770\t22681\t0\nShareholders' equity\t9045\t1704\t7985\t1148\t11257\t0\nLiabilities\t9043\t1975\t11207\t1622\t11424\t0\n\t2011\t\t2010\t\t2009\t\nFor the year ended December 31 (M€)\tAssociates\tJointly- controlled entities\tAssociates\tJointly- controlled entities\tAssociates\tJointly- controlled entities\nRevenues from sales\t9948\t5631\t16529\t2575\t14434\t0\nPre-tax income\t2449\t119\t2389\t166\t2168\t0\nIncome tax\t(594)\t(49)\t(568)\t(34)\t(526)\t0\nNet income\t1855\t70\t1821\t132\t1642\t\n", "q10k_tbl_111": "As of December 31 2011 (M€)\tCarrying amount\tUnrealized gain (loss)\tBalance sheet value\nSanofi(a)\t2100\t351\t2451\nAreva(b)\t69\t1\t70\nArkema\t0\t0\t0\nChicago Mercantile Exchange Group\t1\t6\t7\nOlympia Energy Fund - energy investment fund\t38\t(5)\t33\nGevo\t15\t(3)\t12\nOther publicly traded equity securities\t3\t(1)\t2\nTotal publicly traded equity securities(c)\t2226\t349\t2575\nBBPP\t62\t0\t62\nOcensa(d)\t85\t0\t85\nBTC Limited\t132\t0\t132\nOther equity securities\t820\t0\t820\nTotal other equity securities(c)\t1099\t0\t1099\nOther investments\t3325\t349\t3674\nAs of December 31 2010 (M€)\tCarrying amount\tUnrealized gain (loss)\tBalance sheet value\nSanofi(a)\t3510\t(56)\t3454\nAreva(b)\t69\t63\t132\nArkema\t0\t0\t0\nChicago Mercantile Exchange Group\t1\t9\t10\nOlympia Energy Fund - energy investment fund\t37\t(3)\t34\nOther publicly traded equity securities\t2\t(1)\t1\nTotal publicly traded equity securities(c)\t3619\t12\t3631\nBBPP\t60\t0\t60\nBTC Limited\t141\t0\t141\nOther equity securities\t758\t0\t758\nTotal other equity securities(c)\t959\t0\t959\nOther investments\t4578\t12\t4590\n", "q10k_tbl_112": "As of December 31 2009 (M€)\tCarrying amount\tUnrealized gain (loss)\tBalance sheet value\nAreva(b)\t69\t58\t127\nArkema\t15\t47\t62\nChicago Mercantile Exchange Group\t1\t9\t10\nOlympia Energy Fund - energy investment fund\t35\t(2)\t33\nOther publicly traded equity securities\t0\t0\t0\nTotal publicly traded equity securities(c)\t120\t112\t232\nBBPP\t72\t0\t72\nBTC Limited\t144\t0\t144\nOther equity securities\t714\t0\t714\nTotal other equity securities(c)\t930\t0\t930\nOther investments\t1050\t112\t1162\n", "q10k_tbl_113": "As of December 31 2011 (M€)\tGross value\tValuation allowance\tNet value\nDeferred income tax assets\t1767\t0\t1767\nLoans and advances(a)\t2454\t(399)\t2055\nOther\t1049\t0\t1049\nTotal\t5270\t(399)\t4871\n", "q10k_tbl_114": "As of December 31 2010 (M€)\tGross value\tValuation allowance\tNet value\nDeferred income tax assets\t1378\t0\t1378\nLoans and advances(a)\t2060\t(464)\t1596\nOther\t681\t0\t681\nTotal\t4119\t(464)\t3655\n", "q10k_tbl_115": "As of December 31 2009 (M€)\tGross value\tValuation allowance\tNet value\nDeferred income tax assets\t1164\t0\t1164\nLoans and advances(a)\t1871\t(587)\t1284\nOther\t633\t0\t633\nTotal\t3668\t(587)\t3081\n", "q10k_tbl_116": "For the year ended December 31 (M€)\tValuation allowance as of January 1\tIncreases\tDecreases\tCurrency translation adjustment and other variations\tValuation allowance as of December 31\n2011\t(464)\t(25)\t122\t(32)\t(399)\n2010\t(587)\t(33)\t220\t(64)\t(464)\n2009\t(529)\t(19)\t29\t(68)\t(587)\n", "q10k_tbl_117": "As of December 31 2011 (M€)\tGross value\tValuation allowance\tNet value\nCrude oil and natural gas\t4735\t(24)\t4711\nRefined products\t9706\t(36)\t9670\nChemicals products\t1489\t(103)\t1386\nOther inventories\t2761\t(406)\t2355\nTotal\t18691\t(569)\t18122\n", "q10k_tbl_118": "As of December 31 2010 (M€)\tGross value\tValuation allowance\tNet value\nCrude oil and natural gas\t4990\t0\t4990\nRefined products\t7794\t(28)\t7766\nChemicals products\t1350\t(99)\t1251\nOther inventories\t1911\t(318)\t1593\nTotal\t16045\t(445)\t15600\n", "q10k_tbl_119": "As of December 31 2009 (M€)\tGross value\tValuation allowance\tNet value\nCrude oil and natural gas\t4581\t0\t4581\nRefined products\t6647\t(18)\t6629\nChemicals products\t1234\t(113)\t1121\nOther inventories\t1822\t(286)\t1536\nTotal\t14284\t(417)\t13867\n", "q10k_tbl_120": "For the year ended December 31 (M€)\tValuation allowance as of January 1\tIncrease (net)\tCurrency translation adjustment and other variations\tValuation allowance as of December 31\n2011\t(445)\t(83)\t(41)\t(569)\n2010\t(417)\t(39)\t11\t(445)\n2009\t(1115)\t700\t(2)\t(417)\n", "q10k_tbl_121": "As of December 31 2011 (M€)\tGross value\tValuation allowance\tNet value\nAccounts receivable\t20532\t(483)\t20049\nRecoverable taxes\t2398\t0\t2398\nOther operating receivables\t7750\t(283)\t7467\nDeferred income tax\t0\t0\t0\nPrepaid expenses\t840\t0\t840\nOther current assets\t62\t0\t62\nOther current assets\t11050\t(283)\t10767\n", "q10k_tbl_122": "As of December 31 2010 (M€)\tGross value\tValuation allowance\tNet value\nAccounts receivable\t18635\t(476)\t18159\nRecoverable taxes\t2227\t0\t2227\nOther operating receivables\t4543\t(136)\t4407\nDeferred income tax\t151\t0\t151\nPrepaid expenses\t657\t0\t657\nOther current assets\t41\t0\t41\nOther current assets\t7619\t(136)\t7483\n", "q10k_tbl_123": "As of December 31 2009 (M€)\tGross value\tValuation allowance\tNet value\nAccounts receivable\t16187\t(468)\t15719\nRecoverable taxes\t2156\t0\t2156\nOther operating receivables\t5214\t(69)\t5145\nDeferred income tax\t214\t0\t214\nPrepaid expenses\t638\t0\t638\nOther current assets\t45\t0\t45\nOther current assets\t8267\t(69)\t8198\n", "q10k_tbl_124": "(M€)\tValuation allowance as of January 1\tIncrease (net)\tCurrency translation adjustments and other variations\tValuation allowance as of December 31\nAccounts receivable\t\t\t\t\n2011\t(476)\t4\t(11)\t(483)\n2010\t(468)\t(31)\t23\t(476)\n2009\t(460)\t(17)\t9\t(468)\nOther current assets\t\t\t\t\n2011\t(136)\t(132)\t(15)\t(283)\n2010\t(69)\t(66)\t(1)\t(136)\n2009\t(19)\t(14)\t(36)\t(69)\n", "q10k_tbl_125": "As of January 1 2009\t\t2371808074\nShares issued in connection with:\tExercise of TOTAL share subscription options\t934780\n\tExchange guarantee offered to the beneficiaries of Elf Aquitaine share subscription options\t480030\nCancellation of shares(a)\t\t(24800000)\nAs of January 1 2010\t\t2348422884\nShares issued in connection with:\tExercise of TOTAL share subscription options\t1218047\nAs of January 1 2011\t\t2349640931\nShares issued in connection with:\tCapital increase reserved for employees\t8902717\n\tExercise of TOTAL share subscription options\t5223665\nAs of December 31 2011(b)\t\t2363767313\n", "q10k_tbl_126": "\t2011\t2010\t2009\nNumber of shares as of January 1\t2349640931\t2348422884\t2371808074\nNumber of shares issued during the year (pro rated)\t\t\t0\nExercise of TOTAL share subscription options\t3412123\t412114\t221393\nExercise of TOTAL share purchase options\t0\t984800\t93827\nExchange guarantee offered to the beneficiaries of Elf Aquitaine share subscription options\t0\t0\t393623\nTOTAL performance shares\t978503\t416420\t1164389\nGlobal free TOTAL share plan(a)\t506\t15\t0\nCapital increase reserved for employees\t5935145\t0\t0\nTOTAL shares held by TOTAL S.A. or by its subsidiaries and deducted from shareholders' equity\t(112487679)\t(115407190)\t(143082095)\nWeighted-average number of shares\t2247479529\t2234829043\t2230599211\nDilutive effect\t\t\t0\nTOTAL share subscription and purchase options\t470095\t1758006\t1711961\nTOTAL performance shares\t6174808\t6031963\t4920599\nGlobal free TOTAL share plan(a)\t2523233\t1504071\t\nExchange guarantee offered to the beneficiaries of Elf Aquitaine share subscription options\t0\t0\t60428\nCapital increase reserved for employees\t303738\t371493\t0\nWeighted-average number of diluted shares\t2256951403\t2244494576\t2237292199\n", "q10k_tbl_127": "For the year ended December 31 (M€)\t2011\t\t2010\t\t2009\t\nCurrency translation adjustment\t\t1498\t\t2231\t\t(244)\n- Unrealized gain/(loss) of the period\t1435\t\t2234\t\t(243)\t\n- Less gain/(loss) included in net income\t(63)\t\t3\t\t1\t\nAvailable for sale financial assets\t\t337\t\t(100)\t\t38\n- Unrealized gain/(loss) of the period\t382\t\t(50)\t\t38\t\n- Less gain/(loss) included in net income\t45\t\t50\t\t0\t\nCash flow hedge\t\t(84)\t\t(80)\t\t128\n- Unrealized gain/(loss) of the period\t(131)\t\t(195)\t\t349\t\n- Less gain/(loss) included in net income\t(47)\t\t(115)\t\t221\t\nShare of other comprehensive income of equity affiliates net amount\t\t(15)\t\t302\t\t234\nOther\t\t(2)\t\t(7)\t\t(5)\n- Unrealized gain/(loss) of the period\t(2)\t\t(7)\t\t(5)\t\n- Less gain/(loss) included in net income\t0\t\t0\t\t0\t\nTax effect\t\t(55)\t\t28\t\t(38)\nTotal other comprehensive income net amount\t\t1679\t\t2374\t\t113\n", "q10k_tbl_128": "\t2011\t\t\t2010\t\t\t2009\t\t\nFor the year ended December 31 (M€)\tPre-tax amount\tTax effect\tNet amount\tPre-tax amount\tTax effect\tNet amount\tPre-tax amount\tTax effect\tNet amount\nCurrency translation adjustment\t1498\t0\t1498\t2231\t0\t2231\t(244)\t0\t(244)\nAvailable for sale financial assets\t337\t(93)\t244\t(100)\t2\t(98)\t38\t4\t42\nCash flow hedge\t(84)\t38\t(46)\t(80)\t26\t(54)\t128\t(42)\t86\nShare of other comprehensive income of equity affiliates net amount\t(15)\t0\t(15)\t302\t0\t302\t234\t0\t234\nOther\t(2)\t0\t(2)\t(7)\t0\t(7)\t(5)\t0\t(5)\nTotal other comprehensive income\t1734\t(55)\t1679\t2346\t28\t2374\t151\t(38)\t113\n", "q10k_tbl_129": "As of December 31 (M€)\t2011\t2010\t2009\nPension benefits liabilities\t1268\t1268\t1236\nOther benefits liabilities\t620\t605\t592\nRestructuring reserves (early retirement plans)\t344\t298\t212\nTotal\t2232\t2171\t2040\n", "q10k_tbl_130": "\tPension benefits\t\t\tOther benefits\t\t\nAs of December 31 (M€)\t2011\t2010\t2009\t2011\t2010\t2009\nChange in benefit obligation\t\t\t\t\t\t\nBenefit obligation at beginning of year\t8740\t8169\t7405\t623\t547\t544\nService cost\t163\t159\t134\t13\t11\t10\nInterest cost\t420\t441\t428\t28\t29\t30\nCurtailments\t(24)\t(4)\t(5)\t(1)\t(3)\t(1)\nSettlements\t(111)\t(60)\t(3)\t0\t0\t0\nSpecial termination benefits\t0\t0\t0\t0\t1\t0\nPlan participants' contributions\t9\t11\t10\t0\t0\t0\nBenefits paid\t(451)\t(471)\t(484)\t(34)\t(33)\t(33)\nPlan amendments\t33\t28\t118\t4\t1\t(2)\nActuarial losses (gains)\t435\t330\t446\t(9)\t57\t0\nForeign currency translation and other\t108\t137\t120\t4\t13\t(1)\nBenefit obligation at year-end\t9322\t8740\t8169\t628\t623\t547\nChange in fair value of plan assets\t\t\t\t\t\t\nFair value of plan assets at beginning of year\t(6809)\t(6286)\t(5764)\t0\t0\t0\nExpected return on plan assets\t(385)\t(396)\t(343)\t0\t0\t0\nActuarial losses (gains)\t155\t(163)\t(317)\t0\t0\t0\nSettlements\t80\t56\t2\t0\t0\t0\nPlan participants' contributions\t(9)\t(11)\t(10)\t0\t0\t0\nEmployer contributions\t(347)\t(269)\t(126)\t0\t0\t0\nBenefits paid\t386\t394\t396\t0\t0\t0\nForeign currency translation and other\t(99)\t(134)\t(124)\t0\t0\t0\nFair value of plan assets at year-end\t(7028)\t(6809)\t(6286)\t0\t0\t0\nUnfunded status\t2294\t1931\t1883\t628\t623\t547\nUnrecognized prior service cost\t(78)\t(105)\t(153)\t9\t10\t15\nUnrecognized actuarial (losses) gains\t(1713)\t(1170)\t(1045)\t(17)\t(28)\t30\nAsset ceiling\t10\t9\t9\t0\t0\t0\nNet recognized amount\t513\t665\t694\t620\t605\t592\nPension benefits and other benefits liabilities\t1268\t1268\t1236\t620\t605\t592\nOther non-current assets\t(755)\t(603)\t(542)\t0\t0\t0\n", "q10k_tbl_131": "For the year ended December 31 (M€)\t2011\t2010\t2009\t2008\t2007\nExperience actuarial (gains) losses related to the defined benefit obligation\t(58)\t(54)\t(108)\t12\t80\nExperience actuarial (gains) losses related to the fair value of plan assets\t155\t(163)\t(317)\t1099\t140\n", "q10k_tbl_132": "As of December 31 (M€)\t2011\t2010\t2009\t2008\t2007\nPension benefits\t\t\t\t\t\nBenefit obligation\t9322\t8740\t8169\t7405\t8129\nFair value of plan assets\t(7028)\t(6809)\t(6286)\t(5764)\t(6604)\nUnfunded status\t2294\t1931\t1883\t1641\t1525\nOther benefits\t\t\t\t\t\nBenefits obligation\t628\t623\t547\t544\t583\nFair value of plan assets\t0\t0\t0\t0\t0\nUnfunded status\t628\t623\t547\t544\t583\n", "q10k_tbl_133": "Estimated future payments (M€)\tPension benefits\tOther benefits\n2012\t479\t35\n2013\t467\t35\n2014\t505\t35\n2015\t511\t35\n2016\t512\t37\n2017-2021\t2767\t191\n", "q10k_tbl_134": "Asset allocation\tPension benefits\t\t\nAs of December 31\t2011\t2010\t2009\nEquity securities\t29%\t34%\t31%\nDebt securities\t64%\t60%\t62%\nMonetary\t4%\t3%\t3%\nReal estate\t3%\t3%\t4%\n", "q10k_tbl_135": "Assumptions used to determine benefits obligations\t\tPension benefits\t\t\tOther benefits\t\t\nAs of December 31\t\t2011\t2010\t2009\t2011\t2010\t2009\nDiscount rate (weighted average for all regions)\t\t4.61%\t5.01%\t5.41%\t4.70%\t5.00%\t5.60%\n\tOf which Euro zone\t4.21%\t4.58%\t5.12%\t4.25%\t4.55%\t5.18%\n\tOf which United States\t5.00%\t5.49%\t6.00%\t4.97%\t5.42%\t5.99%\n\tOf which United Kingdom\t4.75%\t5.50%\t5.50%\t0\t0\t0\nAverage expected rate of salary increase\t\t4.69%\t4.55%\t4.50%\t0\t0\t0\nExpected rate of healthcare inflation\t\t\t\t\t\t\t\n- initial rate\t\t0\t0\t0\t4.82%\t4.82%\t4.91%\n- ultimate rate\t\t0\t0\t0\t3.77%\t3.75%\t3.79%\nAssumptions used to determine the net periodic benefit cost (income)\t\tPension benefits\t\t\tOther benefits\t\t\nFor the year ended December 31\t\t2011\t2010\t2009\t2011\t2010\t2009\nDiscount rate (weighted average for all regions)\t\t5.01%\t5.41%\t5.93%\t5.00%\t5.60%\t6.00%\n\tOf which Euro zone\t4.58%\t5.12%\t5.72%\t4.55%\t5.18%\t5.74%\n\tOf which United States\t5.49%\t6.00%\t6.23%\t5.42%\t5.99%\t6.21%\n\tOf which United Kingdom\t5.50%\t5.50%\t6.00%\t0\t0\t6.00%\nAverage expected rate of salary increase\t\t4.55%\t4.50%\t4.56%\t0\t0\t0\nExpected return on plan assets\t\t5.90%\t6.39%\t6.14%\t0\t0\t0\nExpected rate of healthcare inflation\t\t\t\t\t\t\t\n- initial rate\t\t0\t0\t0\t4.82%\t4.91%\t4.88%\n- ultimate rate\t\t0\t0\t0\t3.75%\t3.79%\t3.64%\n", "q10k_tbl_136": "(M€)\t0.5% increase\t0.5% decrease\nBenefit obligation as of December 31 2011\t(513)\t551\n2012 net periodic benefit cost (income)\t(41)\t56\n", "q10k_tbl_137": "\tPension benefits\t\t\tOther benefits\t\t\nFor the year ended December 31 (M€)\t2011\t2010\t2009\t2011\t2010\t2009\nService cost\t163\t159\t134\t13\t11\t10\nInterest cost\t420\t441\t428\t28\t29\t30\nExpected return on plan assets\t(385)\t(396)\t(343)\t0\t0\t0\nAmortization of prior service cost\t58\t74\t13\t2\t(5)\t(7)\nAmortization of actuarial losses (gains)\t46\t66\t50\t0\t(4)\t(6)\nAsset ceiling\t2\t(3)\t4\t0\t0\t0\nCurtailments\t(22)\t(3)\t(4)\t(1)\t(3)\t(1)\nSettlements\t(9)\t7\t(1)\t0\t0\t0\nSpecial termination benefits\t0\t0\t0\t0\t1\t0\nNet periodic benefit cost (income)\t273\t345\t281\t42\t29\t26\n", "q10k_tbl_138": "(M€)\t1% point increase\t1% point decrease\nBenefit obligation as of December 31 2011\t53\t(63)\n2011 net periodic benefit cost (income)\t5\t(5)\n", "q10k_tbl_139": "As of December 31 (M€)\t2011\t2010\t2009\nLitigations and accrued penalty claims\t572\t485\t423\nProvisions for environmental contingencies\t600\t644\t623\nAsset retirement obligations\t6884\t5917\t5469\nOther non-current provisions\t1099\t1116\t1331\nOther non-current liabilities\t1754\t936\t1535\nTotal\t10909\t9098\t9381\n", "q10k_tbl_140": "(M€)\tAs of January 1\tAllowances\tReversals\tCurrency translation adjustment\tOther\tAs of December 31\n2011\t9098\t921\t(798)\t227\t1461\t10909\n2010\t9381\t1052\t(971)\t497\t(861)\t9098\n2009\t7858\t1254\t(1413)\t202\t1480\t9381\n", "q10k_tbl_141": "(M€)\tAs of January 1\tAccretion\tRevision in estimates\tNew obligations\tSpending on existing obligations\tCurrency translation adjustment\tOther\tAs of December 31\n2011\t5917\t344\t330\t323\t(189)\t150\t9\t6884\n2010\t5469\t338\t79\t175\t(214)\t316\t(246)\t5917\n2009\t4500\t283\t447\t179\t(191)\t232\t19\t5469\n", "q10k_tbl_142": "As of December 31 2011 (M€) (Assets) / Liabilities\tSecured\tUnsecured\tTotal\nNon-current financial debt\t349\t22208\t22557\nof which hedging instruments of non-current financial debt (liabilities)\t0\t146\t146\nHedging instruments of non-current financial debt (assets)(a)\t0\t(1976)\t(1976)\nNon-current financial debt - net of hedging instruments\t349\t20232\t20581\nBonds after fair value hedge\t0\t15148\t15148\nFixed rate bonds and bonds after cash flow hedge\t0\t4424\t4424\nBank and other floating rate\t129\t446\t575\nBank and other fixed rate\t76\t206\t282\nFinancial lease obligations\t144\t8\t152\nNon-current financial debt - net of hedging instruments\t349\t20232\t20581\n", "q10k_tbl_143": "As of December 31 2010 (M€) (Assets) / Liabilities\tSecured\tUnsecured\tTotal\nNon-current financial debt\t287\t20496\t20783\nof which hedging instruments of non-current financial debt (liabilities)\t0\t178\t178\nHedging instruments of non-current financial debt (assets)(a)\t0\t(1870)\t(1870)\nNon-current financial debt - net of hedging instruments\t287\t18626\t18913\nBonds after fair value hedge\t0\t15491\t15491\nFixed rate bonds and bonds after cash flow hedge\t0\t2836\t2836\nBank and other floating rate\t47\t189\t236\nBank and other fixed rate\t65\t110\t175\nFinancial lease obligations\t175\t0\t175\nNon-current financial debt - net of hedging instruments\t287\t18626\t18913\n", "q10k_tbl_144": "As of December 31 2009 (M€) (Assets) / Liabilities\tSecured\tUnsecured\tTotal\nNon-current financial debt\t312\t19125\t19437\nof which hedging instruments of non-current financial debt (liabilities)\t0\t241\t241\nHedging instruments of non-current financial debt (assets)(a)\t0\t(1025)\t(1025)\nNon-current financial debt - net of hedging instruments\t312\t18100\t18412\nBonds after fair value hedge\t0\t15884\t15884\nFixed rate bonds and bonds after cash flow hedge\t0\t1700\t1700\nBank and other floating rate\t60\t379\t439\nBank and other fixed rate\t50\t79\t129\nFinancial lease obligations\t202\t58\t260\nNon-current financial debt - net of hedging instruments\t312\t18100\t18412\n", "q10k_tbl_145": "Bonds after fair value hedge (M€)\tYear of issue\tFair value after hedging as of December 31 2011\tFair value after hedging as of December 31 2010\tFair value after hedging as of December 31 2009\tCurrency\tMaturity\tInitial rate before hedging instruments\nParent company\t\t\t\t\t\t\t\nBond\t1998\t129\t125\t116\tFRF\t2013\t5.000%\nBond\t2000\t0\t0\t61\tEUR\t2010\t5.650%\nCurrent portion (less than one year)\t\t0\t0\t(61)\t\t\t\nTotal parent company\t\t129\t125\t116\t\t\t\n", "q10k_tbl_146": "Bonds after fair value hedge (M€)\tYear of issue\tFair value after hedging as of December 31 2011\tFair value after hedging as of December 31 2010\tFair value after hedging as of December 31 2009\tCurrency\tMaturity\tInitial rate before hedging instruments\nTOTAL CAPITAL(a)\t\t\t\t\t\t\t\nBond\t2002\t15\t15\t14\tUSD\t2012\t5.890%\nBond\t2003\t0\t0\t160\tCHF\t2010\t2.385%\nBond\t2003\t23\t22\t21\tUSD\t2013\t4.500%\nBond\t2004\t0\t0\t53\tCAD\t2010\t4.000%\nBond\t2004\t0\t0\t113\tCHF\t2010\t2.385%\nBond\t2004\t0\t0\t438\tEUR\t2010\t3.750%\nBond\t2004\t0\t0\t322\tGBP\t2010\t4.875%\nBond\t2004\t0\t0\t128\tGBP\t2010\t4.875%\nBond\t2004\t0\t0\t185\tGBP\t2010\t4.875%\nBond\t2004\t0\t57\t53\tAUD\t2011\t5.750%\nBond\t2004\t0\t116\t107\tCAD\t2011\t4.875%\n", "q10k_tbl_147": "Bonds after fair value hedge (M€)\tYear of issue\tFair value after hedging as of December 31 2011\tFair value after hedging as of December 31 2010\tFair value after hedging as of December 31 2009\tCurrency\tMaturity\tInitial rate before hedging instruments\nBond\t2004\t0\t235\t203\tUSD\t2011\t4.125%\nBond\t2004\t0\t75\t69\tUSD\t2011\t4.125%\nBond\t2004\t129\t125\t116\tCHF\t2012\t2.375%\nBond\t2004\t52\t51\t47\tNZD\t2014\t6.750%\nBond\t2005\t0\t57\t53\tAUD\t2011\t5.750%\nBond\t2005\t0\t60\t56\tCAD\t2011\t4.000%\nBond\t2005\t0\t120\t112\tCHF\t2011\t1.625%\nBond\t2005\t0\t226\t226\tCHF\t2011\t1.625%\nBond\t2005\t0\t139\t144\tUSD\t2011\t4.125%\nBond\t2005\t63\t63\t63\tAUD\t2012\t5.750%\nBond\t2005\t200\t194\t180\tCHF\t2012\t2.135%\nBond\t2005\t65\t65\t65\tCHF\t2012\t2.135%\nBond\t2005\t97\t97\t97\tCHF\t2012\t2.375%\nBond\t2005\t404\t391\t363\tEUR\t2012\t3.250%\nBond\t2005\t57\t57\t57\tNZD\t2012\t6.500%\nBond\t2006\t0\t0\t75\tGBP\t2010\t4.875%\nBond\t2006\t0\t0\t50\tEUR\t2010\t3.750%\nBond\t2006\t0\t0\t50\tEUR\t2010\t3.750%\nBond\t2006\t0\t0\t100\tEUR\t2010\t3.750%\nBond\t2006\t0\t42\t42\tEUR\t2011\tEURIBOR 3 months +0.040%\nBond\t2006\t0\t300\t300\tEUR\t2011\t3.875%\nBond\t2006\t0\t150\t150\tEUR\t2011\t3.875%\nBond\t2006\t0\t300\t300\tEUR\t2011\t3.875%\nBond\t2006\t0\t120\t120\tUSD\t2011\t5.000%\nBond\t2006\t0\t300\t300\tEUR\t2011\t3.875%\nBond\t2006\t0\t472\t472\tUSD\t2011\t5.000%\nBond\t2006\t62\t62\t62\tAUD\t2012\t5.625%\nBond\t2006\t72\t72\t72\tCAD\t2012\t4.125%\nBond\t2006\t100\t100\t100\tEUR\t2012\t3.250%\nBond\t2006\t74\t74\t74\tGBP\t2012\t4.625%\nBond\t2006\t100\t100\t100\tEUR\t2012\t3.250%\nBond\t2006\t125\t125\t125\tCHF\t2013\t2.510%\nBond\t2006\t127\t127\t127\tCHF\t2014\t2.635%\nBond\t2006\t130\t130\t130\tCHF\t2016\t2.385%\nBond\t2006\t65\t65\t65\tCHF\t2016\t2.385%\nBond\t2006\t64\t64\t64\tCHF\t2016\t2.385%\nBond\t2006\t63\t63\t63\tCHF\t2016\t2.385%\nBond\t2006\t129\t129\t129\tCHF\t2018\t3.135%\nBond\t2007\t0\t0\t60\tCHF\t2010\t2.385%\nBond\t2007\t0\t0\t74\tGBP\t2010\t4.875%\nBond\t2007\t0\t77\t77\tUSD\t2011\t5.000%\nBond\t2007\t370\t370\t370\tUSD\t2012\t5.000%\nBond\t2007\t222\t222\t222\tUSD\t2012\t5.000%\nBond\t2007\t61\t61\t61\tAUD\t2012\t6.500%\nBond\t2007\t72\t72\t72\tCAD\t2012\t4.125%\nBond\t2007\t71\t71\t71\tGBP\t2012\t4.625%\nBond\t2007\t300\t300\t300\tEUR\t2013\t4.125%\nBond\t2007\t73\t73\t73\tGBP\t2013\t5.500%\nBond\t2007\t306\t306\t306\tGBP\t2013\t5.500%\nBond\t2007\t72\t72\t72\tGBP\t2013\t5.500%\nBond\t2007\t248\t248\t248\tCHF\t2014\t2.635%\nBond\t2007\t31\t31\t31\tJPY\t2014\t1.505%\nBond\t2007\t61\t61\t61\tCHF\t2014\t2.635%\nBond\t2007\t49\t49\t49\tJPY\t2014\t1.723%\nBond\t2007\t121\t121\t121\tCHF\t2015\t3.125%\nBond\t2007\t300\t300\t300\tEUR\t2017\t4.700%\nBond\t2007\t76\t76\t76\tCHF\t2018\t3.135%\n", "q10k_tbl_148": "\tDecember 31\tDecember 31\tDecember 31\tDecember 31\tDecember 31\tDecember 31\tDecember 31\nBonds after fair value hedge (M€)\tYear of issue\tFair value after hedging as of December 31 2011\tFair value after hedging as of December 31 2010\tFair value after hedging as of December 31 2009\tCurrency\tMaturity\tInitial rate before hedging instruments\nBond\t2007\t60\t60\t60\tCHF\t2018\t3.135%\nBond\t2008\t0\t0\t63\tGBP\t2010\t4.875%\nBond\t2008\t0\t0\t66\tGBP\t2010\t4.875%\nBond\t2008\t0\t92\t92\tAUD\t2011\t7.500%\nBond\t2008\t0\t100\t100\tEUR\t2011\t3.875%\nBond\t2008\t0\t150\t150\tEUR\t2011\t3.875%\nBond\t2008\t0\t50\t50\tEUR\t2011\t3.875%\nBond\t2008\t0\t50\t50\tEUR\t2011\t3.875%\nBond\t2008\t0\t60\t60\tJPY\t2011\tEURIBOR 6 months + 0.018%\nBond\t2008\t0\t102\t102\tUSD\t2011\t3.750%\nBond\t2008\t62\t62\t62\tCHF\t2012\t2.135%\nBond\t2008\t124\t124\t124\tCHF\t2012\t3.635%\nBond\t2008\t46\t46\t46\tCHF\t2012\t2.385%\nBond\t2008\t92\t92\t92\tCHF\t2012\t2.385%\nBond\t2008\t64\t64\t64\tCHF\t2012\t2.385%\nBond\t2008\t50\t50\t50\tEUR\t2012\t3.250%\nBond\t2008\t63\t63\t63\tGBP\t2012\t4.625%\nBond\t2008\t63\t63\t63\tGBP\t2012\t4.625%\nBond\t2008\t63\t63\t63\tGBP\t2012\t4.625%\nBond\t2008\t62\t62\t62\tNOK\t2012\t6.000%\nBond\t2008\t69\t69\t69\tUSD\t2012\t5.000%\nBond\t2008\t60\t60\t60\tAUD\t2013\t7.500%\nBond\t2008\t61\t61\t61\tAUD\t2013\t7.500%\nBond\t2008\t128\t127\t127\tCHF\t2013\t3.135%\nBond\t2008\t62\t62\t62\tCHF\t2013\t3.135%\nBond\t2008\t200\t200\t200\tEUR\t2013\t4.125%\nBond\t2008\t100\t100\t100\tEUR\t2013\t4.125%\nBond\t2008\t1000\t1000\t1000\tEUR\t2013\t4.750%\nBond\t2008\t63\t63\t63\tGBP\t2013\t5.500%\nBond\t2008\t149\t149\t149\tJPY\t2013\tEURIBOR 6 months + 0.008%\nBond\t2008\t191\t191\t191\tUSD\t2013\t4.000%\nBond\t2008\t61\t61\t61\tCHF\t2015\t3.135%\nBond\t2008\t62\t62\t62\tCHF\t2015\t3.135%\nBond\t2008\t61\t61\t61\tCHF\t2015\t3.135%\nBond\t2008\t62\t62\t62\tCHF\t2018\t3.135%\nBond\t2009\t56\t56\t56\tAUD\t2013\t5.500%\nBond\t2009\t54\t54\t54\tAUD\t2013\t5.500%\nBond\t2009\t236\t236\t236\tCHF\t2013\t2.500%\nBond\t2009\t77\t77\t77\tUSD\t2013\t4.000%\nBond\t2009\t131\t131\t131\tCHF\t2014\t2.625%\nBond\t2009\t998\t997\t998\tEUR\t2014\t3.500%\nBond\t2009\t150\t150\t150\tEUR\t2014\t3.500%\nBond\t2009\t40\t40\t40\tHKD\t2014\t3.240%\nBond\t2009\t107\t103\t96\tAUD\t2015\t6.000%\nBond\t2009\t550\t550\t550\tEUR\t2015\t3.625%\nBond\t2009\t684\t684\t684\tUSD\t2015\t3.125%\nBond\t2009\t232\t224\t208\tUSD\t2015\t3.125%\nBond\t2009\t99\t99\t99\tCHF\t2016\t2.385%\nBond\t2009\t115\t115\t115\tGBP\t2017\t4.250%\nBond\t2009\t225\t225\t225\tGBP\t2017\t4.250%\nBond\t2009\t448\t448\t448\tEUR\t2019\t4.875%\nBond\t2009\t69\t69\t69\tHKD\t2019\t4.180%\nBond\t2009\t0\t374\t347\tUSD\t2021\t4.250%\nBond\t2010\t105\t102\t0\tAUD\t2014\t5.750%\n", "q10k_tbl_149": "\tDecember 31\tDecember 31\tDecember 31\tDecember 31\tDecember 31\tDecember 31\tDecember 31\nBonds after fair value hedge (M€)\tYear of issue\tFair value after hedging as of December 31 2011\tFair value after hedging as of December 31 2010\tFair value after hedging as of December 31 2009\tCurrency\tMaturity\tInitial rate before hedging instruments\nBond\t2010\t111\t108\t0\tCAD\t2014\t2.500%\nBond\t2010\t54\t53\t0\tNZD\t2014\t4.750%\nBond\t2010\t193\t187\t0\tUSD\t2015\t2.875%\nBond\t2010\t966\t935\t0\tUSD\t2015\t3.000%\nBond\t2010\t70\t68\t0\tAUD\t2015\t6.000%\nBond\t2010\t71\t69\t0\tAUD\t2015\t6.000%\nBond\t2010\t64\t64\t0\tAUD\t2015\t6.000%\nBond\t2010\t773\t748\t0\tUSD\t2016\t2.300%\nBond\t2010\t491\t476\t0\tEUR\t2022\t3.125%\nBond\t2011\t116\t0\t0\tUSD\t2016\t6.500%\nBond\t2011\t597\t0\t0\tUSD\t2018\t3.875%\nCurrent portion (less than one year)\t\t(2 992)\t(3 450)\t(1937)\t\t\t\nTotal TOTAL CAPITAL\t\t12617\t15143\t15615\t\t\t\nTOTAL CAPITAL CANADA Ltd. (b)\t\t\t\t\t\t\t\nBond\t2011\t565\t0\t0\tCAD\t2014\t1.625%\nBond\t2011\t565\t0\t0\tCAD\t2014\tUSLIBOR 3 months + 0.38 %\nBond\t2011\t75\t0\t0\tCAD\t2014\t5.750%\nBond\t2011\t738\t0\t0\tCAD\t2013\tUSLIBOR 3 months + 0.09 %\nBond\t2011\t82\t0\t0\tCAD\t2016\t4.000%\nBond\t2011\t69\t0\t0\tCAD\t2016\t3.625%\nCurrent portion (less than one year)\t\t0\t0\t0\t\t\t\nTotal TOTAL CAPITAL CANADA Ltd\t\t2094\t\t\t\t\t\nTOTAL CAPITAL INTERNATIONAL(c)\t\t0\t0\t0\t\t\t\nOther consolidated subsidiaries\t\t308\t223\t153\t\t\t\nTotal bonds after fair value hedge\t\t15148\t15491\t15884\t\t\t\n", "q10k_tbl_150": "\tDecember 31\tDecember 31\tDecember 31\tDecember 31\tDecember 31\tDecember 31\tDecember 31\nBonds after cash flow hedge and fix rate bonds (€ million)\tYear of issue\tAmount after hedging as of December 31 2011\tAmount after hedging as of December 31 2010\tAmount after hedging as of December 31 2009\tCurrency\tMaturity\tInitial rate before hedging instruments\nTOTAL CAPITAL(a)\t\t\t\t\t\t\t\nBond\t2005\t294\t293\t292\tGBP\t2012\t4.625%\nBond\t2009\t744\t691\t602\tEUR\t2019\t4.875%\nBond\t2009\t386\t0\t0\tUSD\t2021\t4.250%\nBond\t2009\t1016\t917\t806\tEUR\t2024\t5.125%\nBond\t2010\t966\t935\t0\tUSD\t2020\t4.450%\nBond\t2011\t386\t0\t0\tUSD\t2021\t4.125%\nCurrent portion (less than one year)\t\t(294)\t0\t0\t\t\t\nTotal TOTAL CAPITAL\t\t3498\t2836\t1700\t\t\t\nOther consolidated subsidiaries(d)\t\t926\t0\t0\t\t\t\nTotal Bonds after cash flow hedge\t\t4424\t2836\t1700\t\t\t\n", "q10k_tbl_151": "As of December 31 2011 (M€)\tNon-current financial debt\tof which hedging instruments of non-current financial debt (liabilities)\tHedging instruments of non-current financial debt (assets)\tNon-current financial debt - net of hedging instruments\t%\n2013\t5021\t80\t(529)\t4492\t22%\n2014\t4020\t3\t(390)\t3630\t18%\n2015\t4070\t6\t(456)\t3614\t18%\n2016\t1712\t9\t(193)\t1519\t7%\n2017 and beyond\t7734\t48\t(408)\t7326\t35%\nTotal\t22557\t146\t(1976)\t20581\t100%\nAs of December 31 2010 (M€)\tNon-current financial debt\tof which hedging instruments of non-current financial debt (liabilities)\tHedging instruments of non-current financial debt (assets)\tNon-current financial debt - net of hedging instruments\t%\n2012\t3756\t34\t(401)\t3355\t18%\n2013\t4017\t76\t(473)\t3544\t19%\n2014\t2508\t1\t(290)\t2218\t12%\n2015\t3706\t2\t(302)\t3404\t18%\n2016 and beyond\t6796\t65\t(404)\t6392\t33%\nTotal\t20783\t178\t(1870)\t18913\t100%\nAs of December 31 2009 (M€)\tNon-current financial debt\tof which hedging instruments of non-current financial debt (liabilities)\tHedging instruments of non-current financial debt (assets)\tNon-current financial debt - net of hedging instruments\t%\n2011\t3857\t42\t(199)\t3658\t20%\n2012\t3468\t48\t(191)\t3277\t18%\n2013\t3781\t95\t(236)\t3545\t19%\n2014\t2199\t6\t(90)\t2109\t11%\n2015 and beyond\t6132\t50\t(309)\t5823\t32%\nTotal\t19437\t241\t(1025)\t18412\t100%\n", "q10k_tbl_152": "As of December 31 (M€)\t2011\t%\t2010\t%\t2009\t%\nU.S. Dollar\t8645\t42%\t7248\t39%\t3962\t21%\nEuro\t9582\t47%\t11417\t60%\t14110\t77%\nOther currencies\t2354\t11%\t248\t1%\t340\t2%\nTotal\t20581\t100%\t18913\t100%\t18412\t100%\n", "q10k_tbl_153": "As of December 31 (M€)\t2011\t%\t2010\t%\t2009\t%\nFixed rate\t4854\t24%\t3177\t17%\t2064\t11%\nFloating rate\t15727\t76%\t15736\t83%\t16348\t89%\nTotal\t20581\t100%\t18913\t100%\t18412\t100%\n", "q10k_tbl_154": "As of December 31 (M€)\t2011\t2010\t2009\n(Assets) / Liabilities\t\t\t\nCurrent financial debt(a)\t5819\t5867\t4761\nCurrent portion of non-current financial debt\t3856\t3786\t2233\nCurrent borrowings (note 28)\t9675\t9653\t6994\nCurrent portion of hedging instruments of debt (liabilities)\t40\t12\t97\nOther current financial instruments (liabilities)\t127\t147\t26\nOther current financial liabilities (note 28)\t167\t159\t123\nCurrent deposits beyond three months\t(101)\t(869)\t(55)\nCurrent portion of hedging instruments of debt (assets)\t(383)\t(292)\t(197)\nOther current financial instruments (assets)\t(216)\t(44)\t(59)\nCurrent financial assets (note 28)\t(700)\t(1205)\t(311)\nCurrent borrowings and related financial assets and liabilities net\t9142\t8607\t6806\n", "q10k_tbl_155": "As of December 31 (M€)\t2011\t2010\t2009\n(Assets) / Liabilities\t\t\t\nCurrent borrowings\t9675\t9653\t6994\nOther current financial liabilities\t167\t159\t123\nCurrent financial assets\t(700)\t(1205)\t(311)\nNon-current financial debt\t22557\t20783\t19437\nHedging instruments on non-current financial debt\t(1976)\t(1870)\t(1025)\nCash and cash equivalents\t(14025)\t(14489)\t(11662)\nNet financial debt\t15698\t13031\t13556\nShareholders' equity - Group share\t68037\t60414\t52552\nDistribution of the income based on existing shares at the closing date\t(1255)\t(2553)\t(2546)\nNon-controlling interests\t1352\t857\t987\nAdjusted shareholders' equity\t68134\t58718\t50993\nNet-debt-to-equity ratio\t23.0%\t22.2%\t26.6%\n", "q10k_tbl_156": "As of December 31 (M€)\t2011\t2010\t2009\nAccruals and deferred income\t231\t184\t223\nPayable to States (including taxes and duties)\t8040\t7235\t6024\nPayroll\t1062\t996\t955\nOther operating liabilities\t5441\t3574\t4706\nTotal\t14774\t11989\t11908\n", "q10k_tbl_157": "For the year ended December 31 2011 (M€)\tOperating leases\tFinance leases\n2012\t762\t41\n2013\t552\t40\n2014\t416\t37\n2015\t335\t36\n2016\t316\t34\n2017 and beyond\t940\t20\nTotal minimum payments\t3321\t208\nLess financial expenses\t0\t(31)\nNominal value of contracts\t0\t177\nLess current portion of finance lease contracts\t0\t(25)\nOutstanding liability of finance lease contracts\t0\t152\n", "q10k_tbl_158": "For the year ended December 31 2010 (M€)\tOperating leases\tFinance leases\n2011\t582\t39\n2012\t422\t39\n2013\t335\t39\n", "q10k_tbl_159": "For the year ended December 31 2010 (M€)\tOperating leases\tFinance leases\n2014\t274\t35\n2015\t230\t35\n2016 and beyond\t1105\t54\nTotal minimum payments\t2948\t241\nLess financial expenses\t0\t(43)\nNominal value of contracts\t0\t198\nLess current portion of finance lease contracts\t0\t(23)\nOutstanding liability of finance lease contracts\t0\t175\n", "q10k_tbl_160": "For the year ended December 31 2009 (M€)\tOperating leases\tFinance leases\n2010\t523\t42\n2011\t377\t43\n2012\t299\t42\n2013\t243\t41\n2014\t203\t39\n2015 and beyond\t894\t128\nTotal minimum payments\t2539\t335\nLess financial expenses\t0\t(53)\nNominal value of contracts\t0\t282\nLess current portion of finance lease contracts\t0\t(22)\nOutstanding liability of finance lease contracts\t0\t260\n", "q10k_tbl_161": "\tMaturity and installments\t\t\t\nAs of December 31 2011 (M€)\tTotal\tLess than 1 year\tBetween 1 and 5 years\tMore than 5 years\nNon-current debt obligations net of hedging instruments (Note 20)\t20429\t0\t13121\t7308\nCurrent portion of non-current debt obligations net of hedging instruments (Note 20)\t3488\t3488\t0\t0\nFinance lease obligations (Note 22)\t177\t25\t134\t18\nAsset retirement obligations (Note 19)\t6884\t272\t804\t5808\nContractual obligations recorded in the balance sheet\t30978\t3785\t14059\t13134\nOperating lease obligations (Note 22)\t3321\t762\t1619\t940\nPurchase obligations\t77353\t11049\t20534\t45770\nContractual obligations not recorded in the balance sheet\t80674\t11811\t22153\t46710\nTotal of contractual obligations\t111652\t15596\t36212\t59844\nGuarantees given for excise taxes\t1765\t1594\t73\t98\nGuarantees given against borrowings\t4778\t3501\t323\t954\nIndemnities related to sales of businesses\t39\t0\t34\t5\nGuarantees of current liabilities\t376\t262\t35\t79\nGuarantees to customers / suppliers\t3265\t1634\t57\t1574\nLetters of credit\t2408\t1898\t301\t209\nOther operating commitments\t2477\t433\t697\t1347\nTotal of other commitments given\t15108\t9322\t1520\t4266\nMortgages and liens received\t408\t7\t119\t282\nGoods and services sale obligations(a)\t62216\t4221\t17161\t40834\nOther commitments received\t6740\t4415\t757\t1568\nTotal of commitments received\t69364\t8643\t18037\t42684\n", "q10k_tbl_162": "\tMaturity and installments\t\t\t\nAs of December 31 2010 (M€)\tTotal\tLess than 1 year\tBetween 1 and 5 years\tMore than 5 years\nNon-current debt obligations net of hedging instruments (Note 20)\t18738\t0\t12392\t6346\nCurrent portion of non-current debt obligations net of hedging instruments (Note 20)\t3483\t3483\t0\t0\nFinance lease obligations (Note 22)\t198\t23\t129\t46\nAsset retirement obligations (Note 19)\t5917\t177\t872\t4868\nContractual obligations recorded in the balance sheet\t28336\t3683\t13393\t11260\nOperating lease obligations (Note 22)\t2948\t582\t1261\t1105\nPurchase obligations\t61293\t6347\t14427\t40519\nContractual obligations not recorded in the balance sheet\t64241\t6929\t15688\t41624\nTotal of contractual obligations\t92577\t10612\t29081\t52884\nGuarantees given for excise taxes\t1753\t1594\t71\t88\nGuarantees given against borrowings\t5005\t1333\t493\t3179\nIndemnities related to sales of businesses\t37\t0\t31\t6\nGuarantees of current liabilities\t171\t147\t19\t5\nGuarantees to customers / suppliers\t3020\t1621\t96\t1303\nLetters of credit\t1250\t1247\t0\t3\nOther operating commitments\t2057\t467\t220\t1370\nTotal of other commitments given\t13293\t6409\t930\t5954\nMortgages and liens received\t429\t2\t114\t313\nOther commitments received\t6387\t3878\t679\t1830\nTotal of commitments received\t6816\t3880\t793\t2143\n", "q10k_tbl_163": "\tMaturity and installments\t\t\t\nAs of December 31 2009 (M€)\tTotal\tLess than 1 year\tBetween 1 and 5 years\tMore than 5 years\nNon-current debt obligations net of hedging instruments (Note 20)\t18152\t0\t12443\t5709\nCurrent portion of non-current debt obligations net of hedging instruments (Note 20)\t2111\t2111\t0\t0\nFinance lease obligations (Note 22)\t282\t22\t146\t114\nAsset retirement obligations (Note 19)\t5469\t235\t972\t4262\nContractual obligations recorded in the balance sheet\t26014\t2368\t13561\t10085\nOperating lease obligations (Note 22)\t2539\t523\t1122\t894\nPurchase obligations\t49808\t4542\t9919\t35347\nContractual obligations not recorded in the balance sheet\t52347\t5065\t11041\t36241\nTotal of contractual obligations\t78361\t7433\t24602\t46326\nGuarantees given for excise taxes\t1765\t1617\t69\t79\nGuarantees given against borrowings\t2882\t1383\t709\t790\nIndemnities related to sales of businesses\t36\t0\t1\t35\nGuarantees of current liabilities\t203\t160\t38\t5\nGuarantees to customers / suppliers\t2770\t1917\t70\t783\nLetters of credit\t1499\t1485\t2\t12\nOther operating commitments\t765\t582\t103\t80\nTotal of other commitments given\t9920\t7144\t992\t1784\nMortgages and liens received\t330\t5\t106\t219\nOther commitments received\t5637\t3187\t481\t1969\nTotal of commitments received\t5967\t3192\t587\t2188\n", "q10k_tbl_164": "As of December 31 (M€)\t2011\t2010\t2009\nBalance sheet\t\t\t\nReceivables\t\t\t\nDebtors and other debtors\t585\t432\t293\nLoans (excl. loans to equity affiliates)\t331\t315\t438\nPayables\t\t\t\nCreditors and other creditors\t724\t497\t386\nDebts\t31\t28\t42\nFor the year ended December 31 (M€)\t2011\t2010\t2009\nStatement of income\t\t\t\nSales\t4400\t3194\t2183\nPurchases\t5508\t5576\t2958\nFinancial expense\t0\t69\t1\nFinancial income\t79\t74\t68\n", "q10k_tbl_165": "For the year ended December 31 (M€)\t2011\t2010\t2009\nNumber of people\t30\t26\t27\nDirect or indirect compensation received\t20.4\t20.8\t19.4\nPension expenses(a)\t9.4\t12.2\t10.6\nOther long-term benefits expenses\t0\t0\t0\nTermination benefits expenses\t4.8\t0\t0\nShare-based payments expense (IFRS 2)(b)\t10.2\t10.0\t11.2\n", "q10k_tbl_166": "\t2003 Plan\t2004 Plan\t2005 Plan\t2006 Plan\t2007 Plan\t2008 Plan\t2009 Plan\t2010 Plan\t2011 Plan\tTotal\tWeighted average exercise price\nDate of the shareholders' meeting\t05/17/2001\t05/14/2004\t05/14/2004\t05/14/2004\t05/11/2007\t05/11/2007\t05/11/2007\t05/21/2010\t05/21/2010\t\t\nDate of the award(a)\t07/16/2003\t07/20/2004\t07/19/2005\t07/18/2006\t07/17/2007\t10/09/2008\t09/15/2009\t09/14/2010\t09/14/2011\t\t\nExercise price until May 23 2006 included(b)\t33.30\t39.85\t49.73\t0\t0\t0\t0\t0\t0\t\t\nExercise price since May 24 2006(b)\t32.84\t39.30\t49.04\t50.60\t60.10\t42.90\t39.90\t38.20\t33.00\t\t\nExpiry date\t07/16/2011\t07/20/2012\t07/19/2013\t07/18/2014\t07/17/2015\t10/09/2016\t09/15/2017\t09/14/2018\t09/14/2019\t\t\nNumber of options(c)\t\t\t\t\t\t\t\t\t\t\t\nExisting options as of January 1 2008\t8368378\t13197236\t6243438\t5711060\t5920105\t0\t0\t0\t0\t39440217\t44.23\nGranted\t0\t0\t0\t0\t0\t4449810\t0\t0\t0\t4449810\t42.90\nCancelled\t(25184)\t(118140)\t(34032)\t(53304)\t(34660)\t(6000)\t0\t0\t0\t(271320)\t44.88\nExercised\t(841846)\t(311919)\t(17702)\t(6700)\t0\t0\t0\t0\t0\t(1178167)\t34.89\nExisting options as of January 1 2009\t7501348\t12767177\t6191704\t5651056\t5885445\t4443810\t0\t0\t0\t42440540\t44.35\nGranted\t0\t0\t0\t0\t0\t0\t4387620\t0\t0\t4387620\t39.90\nCancelled\t(8020)\t(18387)\t(6264)\t(5370)\t(13780)\t(2180)\t(10610)\t0\t0\t(64611)\t45.04\nExercised\t(681699)\t(253081)\t0\t0\t0\t0\t0\t0\t0\t(934780)\t34.59\nExisting options as of January 1 2010\t6811629\t12495709\t6185440\t5645686\t5871665\t4441630\t4377010\t0\t0\t45828769\t44.12\nGranted\t0\t0\t0\t0\t0\t0\t0\t4788420\t0\t4788420\t38.20\nCancelled(d)\t(1420)\t(15660)\t(6584)\t(4800)\t(5220)\t(92472)\t(4040)\t(1120)\t0\t(131316)\t43.50\nExercised\t(1075765)\t(141202)\t0\t0\t0\t0\t(1080)\t0\t0\t(1218047)\t33.60\nExisting options as of January 1 2011\t5734444\t12338847\t6178856\t5640886\t5866445\t4349158\t4371890\t4787300\t0\t49267826\t43.80\nGranted\t0\t0\t0\t0\t0\t0\t0\t0\t1518840\t1518840\t33.00\nCancelled(e)\t(738534)\t(28208)\t(16320)\t(17380)\t(16080)\t(13260)\t(14090)\t(85217)\t(1000)\t(930089)\t34.86\nExercised\t(4995910)\t(216115)\t0\t0\t0\t(200)\t0\t(2040)\t(9400)\t(5223665)\t33.11\nExisting options as of December 31 2011\t0\t12094524\t6162536\t5623506\t5850365\t4335698\t4357800\t4700043\t1508440\t44632912\t44.87\n", "q10k_tbl_167": "\t2001 Plan(a)\t2002 Plan(b)\tTotal\tWeighted average exercise price\nDate of the shareholders' meeting\t05/17/2001\t05/17/2001\t\t\nGrant date(c)\t07/10/2001\t07/09/2002\t\t\nExercise price until May 23 2006 included(d)\t42.05\t39.58\t\t\nExercise price since May 24 2006(d)\t41.47\t39.03\t\t\nExpiry date\t07/10/2009\t07/09/2010\t\t\nNumber of options(e)\t\t\t\t\nOutstanding as of January 1 2009\t4691426\t6450857\t11142283\t40.06\nAwarded\t0\t0\t0\t0\nCancelled\t(4650446)\t(7920)\t(4658366)\t41.47\nExercised\t(40980)\t(507676)\t(548656)\t39.21\nOutstanding as of January 1 2010\t0\t5935261\t5935261\t39.03\nAwarded\t0\t0\t0\t0\nCancelled(f)\t0\t(4671989)\t(4671989)\t39.03\nExercised\t0\t(1263272)\t(1263272)\t39.03\nOutstanding as of January 1 2011\t0\t0\t0\t0\nAwarded\t0\t0\t0\t0\nCancelled\t0\t0\t0\t0\nExercised\t0\t0\t0\t0\nOutstanding as of December 31 2011\t0\t0\t0\t0\n", "q10k_tbl_168": "\t2005 Plan\t2006 Plan\t2007 Plan\t2008 Plan\t2009 Plan\t2010 Plan\t2011 Plan\tTotal\nDate of the shareholders' meeting\t05/17/2005\t05/17/2005\t05/17/2005\t05/16/2008\t05/16/2008\t05/16/2008\t05/13/2011\t\nGrant date(a)\t07/19/2005\t07/18/2006\t07/17/2007\t10/09/2008\t09/15/2009\t09/14/2010\t09/14/2011\t\nFinal grant date (end of the vesting period)\t07/20/2007\t07/19/2008\t07/18/2009\t10/10/2010\t09/16/2011\t09/15/2012\t09/15/2013\t\nTransfer possible from\t07/20/2009\t07/19/2010\t07/18/2011\t10/10/2012\t09/16/2013\t09/15/2014\t09/15/2015\t\nNumber of performance shares\t\t\t\t\t\t\t\t\nOutstanding as of January 1 2009\t0\t0\t2333217\t2772748\t\t\t\t5105965\nAwarded\t0\t0\t0\t0\t2972018\t\t\t2972018\nCanceled\t1928\t2922\t(12418)\t(9672)\t(5982)\t\t\t(23222)\nFinally granted(b)(c)\t(1928)\t(2922)\t(2320799)\t(600)\t0\t\t\t(2326249)\nOutstanding as of January 1 2010\t0\t0\t0\t2762476\t2966036\t\t\t5728512\nAwarded\t0\t0\t0\t0\t0\t3010011\t\t3010011\nCanceled(d)\t1024\t3034\t552\t(1113462)\t(9796)\t(8738)\t\t(1127386)\nFinally granted(b)(c)\t(1024)\t(3034)\t(552)\t(1649014)\t(1904)\t(636)\t\t(1656164)\nOutstanding as of January 1 2011\t0\t0\t0\t0\t2954336\t3000637\t\t5954973\nAwarded\t0\t0\t0\t0\t0\t0\t3649770\t3649770\nCanceled\t800\t700\t792\t356\t(26214)\t(10750)\t(19579)\t(53895)\nFinally granted(b)(c)(e)\t(800)\t(700)\t(792)\t(356)\t(2928122)\t(1836)\t0\t(2932606)\nOutstanding as of December 31 2011\t0\t0\t0\t0\t0\t2988051\t3630191\t6618242\n", "q10k_tbl_169": "\t2010 Plan (2+2)\t2010 Plan (4+0)\tTotal\nDate of the shareholders' meeting\t05/16/2008\t05/16/2008\t\nDate of the award(a)\t06/30/2010\t06/30/2010\t\nDate of the final award\t07/01/2012\t07/01/2014\t\nTransfer authorized as from\t07/01/2014\t07/01/2014\t\nNumber of free shares\t\t\t\nOutstanding as of January 1 2010\t\t\t\nNotified\t1508850\t1070650\t2579500\nCancelled\t(125)\t(75)\t(200)\nFinally granted(b)\t(75)\t0\t(75)\nOutstanding as of January 1 2011\t1508650\t1070575\t2579225\nNotified\t0\t0\t0\nCancelled\t(29175)\t(54625)\t(83800)\nFinally granted(b)\t(475)\t(425)\t(900)\nOutstanding as of December 31 2011\t1479000\t1015525\t2494525\n", "q10k_tbl_170": "\tOutstanding Stock Options\t\t\t\n\tShares (in thousands)\tWeighted-Average Exercise Price Per Share (in dollars)\tWeighted-Average Remaining Contractual Term (in years)\tAggregate Intrinsic Value (in thousands dollars)\nOutstanding as of July 3 2011\t519\t25.39\t\t\nExercised\t(29)\t3.93\t\t\nForfeited\t(6)\t31.29\t\t\nOutstanding as of January 1 2012\t484\t26.62\t4.71\t480\nExercisable as of January 1 2012\t441\t24.52\t4.53\t480\nExpected to vest after January 1 2012\t40\t48.08\t6.64\t0\n", "q10k_tbl_171": "\tStock Options\t\tRestricted Stock Awards and Units\t\n\tShares (in thousands)\tWeighted-Average Exercise Price Per Share (in dollars)\tShares (in thousands)\tWeighted-Average Grant Date Fair Value Per Share (in dollars)(1)\nOutstanding as of July 3 2011\t67\t41.34\t7198\t16.03\nGranted\t0\t0\t2336\t6.91\nVested(2)\t(19)\t28.73\t(691)\t18.96\nForfeited\t(5)\t31.29\t(1473)\t14.10\nOutstanding as of December 31 2011\t43\t48.33\t7370\t13.25\n", "q10k_tbl_172": "For the year ended December 31\t2011\t2010\t2009\nRisk free interest rate (%)(a)\t2.0\t2.1\t2.9\nExpected dividends (%)(b)\t5.6\t5.9\t4.8\nExpected volatility (%)(c)\t27.5\t25.0\t31.0\nVesting period (years)\t2\t2\t2\nExercice period (years)\t8\t8\t8\nFair value of the granted options (€ per option)\t4.4\t5.8\t8.4\n", "q10k_tbl_173": "For the year ended December 31\t2011\nDate of the Board of Directors meeting that decided the issue\tOctober 28 2010\nSubscription price (€)\t34.80\nShare price at the reference date (€)(a)\t41.60\nNumber of shares (in millions)\t8.90\nRisk free interest rate (%)(b)\t2.82\nEmployees loan financing rate (%)(c)\t7.23\nNon transferability cost (% of the reference's share price)\t17.6\n", "q10k_tbl_174": "For the year ended December 31\t2011\t2010\t2009\nPersonnel expenses (M€)\t\t\t\nWages and salaries (including social charges)\t6579\t6246\t6177\nGroup employees\t\t\t\nFrance\t\t\t\n- Management\t11123\t10852\t10906\n- Other\t23914\t24317\t25501\nInternational\t\t\t\n- Management\t15713\t15146\t15243\n- Other\t45354\t42540\t44737\nTotal\t96104\t92855\t96387\n", "q10k_tbl_175": "For the year ended December 31 (M€)\t2011\t2010\t2009\nInterests paid\t(679)\t(470)\t(678)\nInterests received\t277\t132\t148\nIncome tax paid(a)\t(12061)\t(8848)\t(7027)\nDividends received\t2133\t1722\t1456\n", "q10k_tbl_176": "For the year ended December 31 (M€)\t2011\t2010\t2009\nInventories\t(1845)\t(1896)\t(4217)\nAccounts receivable\t(1287)\t(2712)\t(344)\nOther current assets\t(2409)\t911\t1505\nAccounts payable\t2646\t2482\t571\nOther creditors and accrued liabilities\t1156\t719\t(831)\nNet amount\t(1739)\t(496)\t(3316)\n", "q10k_tbl_177": "For the year ended December 31 (M€)\t2011\t2010\t2009\nIssuance of non-current debt\t4234\t3995\t6309\nRepayment of non-current debt\t(165)\t(206)\t(787)\nNet amount\t4069\t3789\t5522\n", "q10k_tbl_178": "For the year ended December 31 (M€)\t2011\t2010\t2009\nCash\t4715\t4679\t2448\nCash equivalents\t9310\t9810\t9214\nTotal\t14025\t14489\t11662\n", "q10k_tbl_179": "\tFinancial instruments related to financing and trading activities\t\t\t\t\t\t\tOther financial instruments\tTotal\tFair value\n\tAmortized cost\tFair value\t\t\t\t\t\t\t\t\nAs of December 31 2011 (M€) Assets / (Liabilities)\t\tAvailable for sale(a)\tHeld for trading\tFinancial debt(b)\tHedging of financial debt\tCash flow hedge\tNet investment hedge and other\t\t\t\nEquity affiliates: loans\t2246\t\t\t\t\t\t\t\t2246\t2246\nOther investments\t\t3674\t\t\t\t\t\t\t3674\t3674\nHedging instruments of non-current financial debt\t\t\t\t\t1971\t5\t\t\t1976\t1976\nOther non-current assets\t2055\t\t\t\t\t\t\t\t2055\t2055\nAccounts receivable net\t\t\t\t\t\t\t\t20049\t20049\t20049\nOther operating receivables\t\t\t1074\t\t\t\t\t6393\t7467\t7467\nCurrent financial assets\t146\t\t159\t\t383\t12\t0\t\t700\t700\nCash and cash equivalents\t\t\t\t\t\t\t\t14025\t14025\t14025\nTotal financial assets\t4447\t3674\t1233\t0\t2354\t17\t0\t40467\t52192\t52192\nTotal non-financial assets\t\t\t\t\t\t\t\t\t111857\t\nTotal assets\t\t\t\t\t\t\t\t\t164049\t\nNon-current financial debt\t(4858)\t\t\t(17551)\t(97)\t(49)\t\t(2)\t(22557)\t(23247)\nAccounts payable\t\t\t\t\t\t\t\t(22086)\t(22086)\t(22086)\nOther operating liabilities\t\t\t(606)\t\t\t\t\t(4835)\t(5441)\t(5441)\nCurrent borrowings\t(6158)\t\t\t(3517)\t\t\t\t\t(9675)\t(9675)\nOther current financial liabilities\t\t\t(87)\t\t(40)\t(14)\t(26)\t\t(167)\t(167)\nTotal financial liabilities\t(11016)\t0\t(693)\t(21068)\t(137)\t(63)\t(26)\t(26923)\t(59926)\t(60616)\nTotal non-financial liabilities\t\t\t\t\t\t\t\t\t(104123)\t\nTotal liabilities\t\t\t\t\t\t\t\t\t(164049)\t\n", "q10k_tbl_180": "\tFinancial instruments related to financing and trading activities\t\t\t\t\t\t\tOther financial instruments\tTotal\tFair value\n\tAmortized cost\t\t\t\tFair value\t\t\t\t\t\nAs of December 31 2010 (M€) Assets / (Liabilities)\t\tAvailable for sale(a)\tHeld for trading\tFinancial debt(b)\tHedging of financial debt\tCash flow hedge\tNet investment hedge and other\t\t\t\nEquity affiliates: loans\t2383\t\t\t\t\t\t\t\t2383\t2383\nOther investments\t\t4590\t\t\t\t\t\t\t4590\t4590\nHedging instruments of non-current financial debt\t\t\t\t\t1814\t56\t\t\t1870\t1870\nOther non-current assets\t1596\t\t\t\t\t\t\t\t1596\t1596\nAccounts receivable net\t\t\t\t\t\t\t\t18159\t18159\t18159\nOther operating receivables\t\t\t499\t\t\t\t\t3908\t4407\t4407\nCurrent financial assets\t869\t\t38\t\t292\t\t6\t\t1205\t1205\nCash and cash equivalents\t\t\t\t\t\t\t\t14489\t14489\t14489\nTotal financial assets\t4848\t4590\t537\t0\t2106\t56\t6\t36556\t48699\t48699\nTotal non-financial assets\t\t\t\t\t\t\t\t\t95019\t\nTotal assets\t\t\t\t\t\t\t\t\t143718\t\nNon-current financial debt\t(3186)\t\t\t(17419)\t(178)\t\t\t\t(20783)\t(21172)\nAccounts payable\t\t\t\t\t\t\t\t(18450)\t(18450)\t(18450)\nOther operating liabilities\t\t\t(559)\t\t\t\t\t(3015)\t(3574)\t(3574)\nCurrent borrowings\t(5916)\t\t\t(3737)\t\t\t\t\t(9653)\t(9653)\nOther current financial liabilities\t\t\t(147)\t\t(12)\t\t0\t\t(159)\t(159)\nTotal financial liabilities\t(9102)\t\t(706)\t(21156)\t(190)\t0\t0\t(21465)\t(52619)\t(53008)\nTotal non-financial liabilities\t\t\t\t\t\t\t\t\t(91099)\t\nTotal liabilities\t\t\t\t\t\t\t\t\t(143718)\t\n", "q10k_tbl_181": "\tFinancial instruments related to financing and trading activities\t\t\t\t\t\t\tOther financial instruments\tTotal\tFair value\n\tAmortized cost\t\t\t\tFair value\t\t\t\t\t\nAs of December 31 2009 (M€) Assets / (Liabilities)\t\tAvailable for sale(a)\tHeld for trading\tFinancial debt(b)\tHedging of financial debt\tCash flow hedge\tNet investment hedge and other\t\t\t\nEquity affiliates: loans\t2367\t\t\t\t\t\t\t\t2367\t2367\nOther investments\t\t1162\t\t\t\t\t\t\t1162\t1162\nHedging instruments of non-current financial debt\t\t\t\t\t889\t136\t\t\t1025\t1025\nOther non-current assets\t1284\t\t\t\t\t\t\t\t1284\t1284\nAccounts receivable net\t\t\t\t\t\t\t\t15719\t15719\t15719\nOther operating receivables\t\t\t1029\t\t\t\t\t4116\t5145\t5145\nCurrent financial assets\t55\t\t53\t\t197\t\t6\t\t311\t311\nCash and cash equivalents\t\t\t\t\t\t\t\t11662\t11662\t11662\nTotal financial assets\t3706\t1162\t1082\t0\t1086\t136\t6\t31497\t38675\t38675\nTotal non-financial assets\t\t\t\t\t\t\t\t\t89078\t\nTotal assets\t\t\t\t\t\t\t\t\t127753\t\nNon-current financial debt\t(2089)\t\t\t(17107)\t(241)\t\t\t\t(19437)\t(19905)\nAccounts payable\t\t\t\t\t\t\t\t(15383)\t(15383)\t(15383)\nOther operating liabilities\t\t\t(923)\t\t\t\t\t(3783)\t(4706)\t(4706)\nCurrent borrowings\t(4849)\t\t\t(2145)\t\t\t\t\t(6994)\t(6994)\nOther current financial liabilities\t\t\t(25)\t\t(97)\t\t(1)\t\t(123)\t(123)\nTotal financial liabilities\t(6938)\t\t(948)\t(19252)\t(338)\t0\t(1)\t(19166)\t(46643)\t(47111)\nTotal non-financial liabilities\t\t\t\t\t\t\t\t\t(81110)\t\nTotal liabilities\t\t\t\t\t\t\t\t\t(127753)\t\n", "q10k_tbl_182": "For the year ended December 31 (M€)\t2011\t2010\t2009\nAssets available for sale (investments):\t\t\t\n- dividend income on non-consolidated subsidiaries\t330\t255\t210\n- gains (losses) on disposal of assets\t103\t60\t6\n- other\t(29)\t(17)\t(18)\nLoans and receivables\t(34)\t90\t41\nImpact on net operating income\t370\t388\t239\n", "q10k_tbl_183": "For the year ended December 31 (M€)\t2011\t2010\t2009\nLoans and receivables\t271\t133\t158\nFinancing liabilities and associated hedging instruments\t(730)\t(469)\t(563)\nFair value hedge (ineffective portion)\t17\t4\t33\nAssets and liabilities held for trading\t2\t(2)\t(26)\nImpact on the cost of net debt\t(440)\t(334)\t(398)\n", "q10k_tbl_184": "For the year ended December 31 (M€)\t2011\t2010\t2009\nRevaluation at market value of bonds\t(301)\t(1164)\t(183)\nSwap hedging of bonds\t318\t1168\t216\nIneffective portion of the fair value hedge\t17\t4\t33\n", "q10k_tbl_185": "For the year ended December 31 (M€)\tAs of January 1\tVariations\tDisposals\tAs of December 31\n2011\t(243)\t139\t0\t(104)\n2010\t25\t(268)\t0\t(243)\n2009\t124\t(99)\t0\t25\n", "q10k_tbl_186": "For the year ended December 31 (M€)\t2011\t2010\t2009\nProfit (Loss) recorded in equity during the period\t(84)\t(80)\t128\nRecycled amount from equity to the income statement during the period\t(47)\t(115)\t221\n", "q10k_tbl_187": "As of December 31 2011 (M€) Assets / (Liabilities)\tFair value\tNotional value(a)\t\t\t\t\t\t\n\tTotal\t2012\t2013\t2014\t2015\t2016\t2017 and after\nFair value hedge\t\t\t\t\t\t\t\t\nSwaps hedging fixed-rates bonds (liabilities)\t(97)\t1478\t\t\t\t\t\t\nSwaps hedging fixed-rates bonds (assets)\t1971\t15653\t\t\t\t\t\t\nTotal swaps hedging fixed-rates bonds (assets and liabilities)\t1874\t17131\t\t4204\t4215\t3380\t1661\t3671\nSwaps hedging fixed-rates bonds (current portion) (liabilities)\t(40)\t642\t\t\t\t\t\t\nSwaps hedging fixed-rates bonds (current portion) (assets)\t383\t2349\t\t\t\t\t\t\nTotal swaps hedging fixed-rates bonds (current portion) (assets and liabilities)\t343\t2991\t2991\t\t\t\t\t\nCash flow hedge\t\t\t\t\t\t\t\t\nSwaps hedging fixed-rates bonds (liabilities)\t(49)\t967\t\t\t\t\t\t\nSwaps hedging fixed-rates bonds (assets)\t5\t749\t\t\t\t\t\t\nTotal swaps hedging fixed-rates bonds (assets and liabilities)\t(44)\t1716\t\t0\t0\t0\t0\t1716\nSwaps hedging fixed-rates bonds (current portion) (liabilities)\t(14)\t582\t\t\t\t\t\t\nSwaps hedging fixed-rates bonds (current portion) (assets)\t12\t908\t\t\t\t\t\t\nTotal swaps hedging fixed-rates bonds (current portion) (assets and liabilities)\t(2)\t1490\t1490\t\t\t\t\t\nNet investment hedge\t\t\t\t\t\t\t\t\nCurrency swaps and forward exchange contracts (assets)\t0\t0\t\t\t\t\t\t\nCurrency swaps and forward exchange contracts (liabilities)\t(26)\t881\t\t\t\t\t\t\nTotal swaps hedging net investments\t(26)\t881\t881\t\t\t\t\t\nHeld for trading\t\t\t\t\t\t\t\t\nOther interest rate swaps (assets)\t1\t3605\t\t\t\t\t\t\nOther interest rate swaps (liabilities)\t(2)\t14679\t\t\t\t\t\t\nTotal other interest rate swaps (assets and liabilities)\t(1)\t18284\t18284\t0\t0\t0\t0\t0\nCurrency swaps and forward exchange contracts (assets)\t158\t6984\t\t\t\t\t\t\nCurrency swaps and forward exchange contracts (liabilities)\t(85)\t4453\t\t\t\t\t\t\nTotal currency swaps and forward exchange contracts (assets and liabilities)\t73\t11437\t11176\t80\t58\t36\t31\t56\n", "q10k_tbl_188": "As of December 31 2010 (M€) Assets / (Liabilities)\t\tNotional value(a)\t\t\t\t\t\t\t\t\t\t\t\t\t\nFair value\t\tTotal\t\t2011\t\t2012\t\t2013\t\t2014\t\t2015\t\t2016 and after\t\nFair value hedge\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nSwaps hedging fixed-rates bonds (liabilities)\t(178)\t\t2244\t\t\t\t\t\t\t\t\t\t\t\t\nSwaps hedging fixed-rates bonds (assets)\t1814\t\t13939\t\t\t\t\t\t\t\t\t\t\t\t\nTotal swaps hedging fixed-rates bonds (assets and liabilities)\t1636\t\t16183\t\t\t\t2967\t\t3461\t\t2421\t\t3328\t\t4006\nSwaps hedging fixed-rates bonds (current portion) (liabilities)\t(12)\t\t592\t\t\t\t\t\t\t\t\t\t\t\t\nSwaps hedging fixed-rates bonds (current portion) (assets)\t292\t\t2815\t\t\t\t\t\t\t\t\t\t\t\t\nTotal swaps hedging fixed-rates bonds (current portion) (assets and liabilities)\t280\t\t3407\t\t3407\t\t\t\t\t\t\t\t\t\t\nCash flow hedge\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nSwaps hedging fixed-rates bonds (liabilities)\t0\t\t0\t\t\t\t\t\t\t\t\t\t\t\t\nSwaps hedging fixed-rates bonds (assets)\t56\t\t1957\t\t\t\t\t\t\t\t\t\t\t\t\nTotal swaps hedging fixed-rates bonds (assets and liabilities)\t56\t\t1957\t\t\t\t295\t\t\t\t\t\t\t\t1662\nSwaps hedging fixed-rates bonds (current portion) (liabilities)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nSwaps hedging fixed-rates bonds (current portion) (assets)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nTotal swaps hedging fixed-rates bonds (current portion) (assets and liabilities)\t0\t\t0\t\t0\t\t\t\t\t\t\t\t\t\t\nNet investment hedge\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nCurrency swaps and forward exchange contracts (assets)\t6\t\t381\t\t\t\t\t\t\t\t\t\t\t\t\nCurrency swaps and forward exchange contracts (liabilities)\t0\t\t0\t\t\t\t\t\t\t\t\t\t\t\t\nTotal swaps hedging net investments\t6\t\t381\t\t381\t\t\t\t\t\t\t\t\t\t\nHeld for trading\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nOther interest rate swaps (assets)\t1\t\t6463\t\t\t\t\t\t\t\t\t\t\t\t\nOther interest rate swaps (liabilities)\t(3)\t\t11395\t\t\t\t\t\t\t\t\t\t\t\t\nTotal other interest rate swaps (assets and liabilities)\t(2)\t\t17858\t\t17667\t\t189\t\t0\t\t0\t\t2\t\t0\nCurrency swaps and forward exchange contracts (assets)\t37\t\t1532\t\t\t\t\t\t\t\t\t\t\t\t\nCurrency swaps and forward exchange contracts (liabilities)\t(144)\t\t6757\t\t\t\t\t\t\t\t\t\t\t\t\nTotal currency swaps and forward exchange contracts (assets and liabilities)\t(107)\t\t8289\t\t8102\t\t0\t\t25\t\t49\t\t31\t\t82\n", "q10k_tbl_189": "As of December 31 2009 (M€) Assets / (Liabilities)\t\tNotional value(a)\t\t\t\t\t\t\t\t\t\t\t\t\t\nFair value\t\tTotal\t\t2010\t\t2011\t\t2012\t\t2013\t\t2014\t\t2015 and after\t\nFair value hedge\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nSwaps hedging fixed-rates bonds (liabilities)\t(241)\t\t4615\t\t\t\t\t\t\t\t\t\t\t\t\nSwaps hedging fixed-rates bonds (assets)\t889\t\t11076\t\t\t\t\t\t\t\t\t\t\t\t\nTotal swaps hedging fixed-rates bonds (assets and liabilities)\t648\t\t15691\t\t0\t\t3345\t\t2914\t\t3450\t\t1884\t\t4098\nSwaps hedging fixed-rates bonds (current portion) (liabilities)\t(97)\t\t912\t\t\t\t\t\t\t\t\t\t\t\t\nSwaps hedging fixed-rates bonds (current portion) (assets)\t197\t\t1084\t\t\t\t\t\t\t\t\t\t\t\t\nTotal swaps hedging fixed-rates bonds (current portion) (assets and liabilities)\t100\t\t1996\t\t1996\t\t\t\t\t\t\t\t\t\t\nCash flow hedge\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nSwaps hedging fixed-rates bonds (liabilities)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nSwaps hedging fixed-rates bonds (assets)\t136\t\t1837\t\t\t\t\t\t295\t\t\t\t\t\t1542\nTotal swaps hedging fixed-rates bonds (assets and liabilities)\t136\t\t1837\t\t\t\t\t\t295\t\t\t\t\t\t1542\nSwaps hedging fixed-rates bonds (current portion) (liabilities)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nSwaps hedging fixed-rates bonds (current portion) (assets)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nTotal swaps hedging fixed-rates bonds (current portion) (assets and liabilities)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nNet investment hedge\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nCurrency swaps and forward exchange contracts (assets)\t6\t\t701\t\t\t\t\t\t\t\t\t\t\t\t\nCurrency swaps and forward exchange contracts (liabilities)\t(1)\t\t224\t\t\t\t\t\t\t\t\t\t\t\t\nTotal swaps hedging net investments\t5\t\t925\t\t925\t\t\t\t\t\t\t\t\t\t\nHeld for trading\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nOther interest rate swaps (assets)\t\t\t1459\t\t\t\t\t\t\t\t\t\t\t\t\nOther interest rate swaps (liabilities)\t(1)\t\t10865\t\t\t\t\t\t\t\t\t\t\t\t\nTotal other interest rate swaps (assets and liabilities)\t(1)\t\t12324\t\t12208\t\t114\t\t\t\t\t\t\t\t2\nCurrency swaps and forward exchange contracts (assets)\t53\t\t4017\t\t\t\t\t\t\t\t\t\t\t\t\nCurrency swaps and forward exchange contracts (liabilities)\t(24)\t\t3456\t\t\t\t\t\t\t\t\t\t\t\t\nTotal currency swaps and forward exchange contracts (assets and liabilities)\t29\t\t7473\t\t7224\t\t\t\t52\t\t50\t\t47\t\t100\n", "q10k_tbl_190": "As of December 31 2011 (M€)\tQuoted prices in active markets for identical assets (level 1)\tPrices based on observable data (level 2)\tPrices based on non- observable data (level 3)\tTotal\nFair value hedge instruments\t0\t2217\t0\t2217\nCash flow hedge instruments\t0\t(46)\t0\t(46)\nNet investment hedge instruments\t0\t(26)\t0\t(26)\nAssets and liabilities held for trading\t0\t72\t0\t72\nAssets available for sale\t2575\t0\t0\t2575\nTotal\t2575\t2217\t0\t4792\n", "q10k_tbl_191": "As of December 31 2010 (M€)\tQuoted prices in active markets for identical assets (level 1)\tPrices based on observable data (level 2)\tPrices based on non-observable data (level 3)\tTotal\nFair value hedge instruments\t0\t1916\t0\t1916\nCash flow hedge instruments\t0\t56\t0\t56\nNet investment hedge instruments\t0\t6\t0\t6\nAssets and liabilities held for trading\t0\t(109)\t0\t(109)\nAssets available for sale\t3631\t0\t0\t3631\nTotal\t3631\t1869\t0\t5500\n", "q10k_tbl_192": "As of December 31 2009 (M€)\tQuoted prices in active markets for identical assets (level 1)\tPrices based on observable data (level 2)\tPrices based on non-observable data (level 3)\tTotal\nFair value hedge instruments\t0\t748\t0\t748\nCash flow hedge instruments\t0\t136\t0\t136\nNet investment hedge instruments\t0\t5\t0\t5\nAssets and liabilities held for trading\t0\t28\t0\t28\nAssets available for sale\t232\t0\t0\t232\nTotal\t232\t917\t0\t1149\n", "q10k_tbl_193": "As of December 31 2011 (M€)\t\t\nAssets / (Liabilities)\tCarrying amount\tFair value(b)\nCrude oil petroleum products and freight rates activities\t\t\nPetroleum products and crude oil swaps\t3\t3\nFreight rate swaps\t0\t0\nForwards(a)\t(16)\t(16)\nOptions\t(4)\t(4)\nFutures\t(14)\t(14)\nOptions on futures\t(6)\t(6)\nTotal crude oil petroleum products and freight rates\t(37)\t(37)\nGas & Power activities\t\t\nSwaps\t57\t57\nForwards(a)\t452\t452\nOptions\t(3)\t(3)\nFutures\t0\t0\nTotal Gas & Power\t506\t506\nTotal\t469\t469\nTotal of fair value non-recognized in the balance sheet\t\t0\n", "q10k_tbl_194": "As of December 31 2010 (M€) Assets / (Liabilities)\tCarrying amount\tFair value(b)\nCrude oil petroleum products and freight rates activities\t\t\nPetroleum products and crude oil swaps\t(2)\t(2)\nFreight rate swaps\t0\t0\nForwards(a)\t5\t5\nOptions\t51\t51\nFutures\t(12)\t(12)\nOptions on futures\t(4)\t(4)\nTotal crude oil petroleum products and freight rates\t38\t38\nGas & Power activities\t\t\nSwaps\t(1)\t(1)\nForwards(a)\t(102)\t(102)\nOptions\t5\t5\nFutures\t0\t0\nTotal Gas & Power\t(98)\t(98)\nTotal\t(60)\t(60)\nTotal of fair value non-recognized in the balance sheet\t\t0\n", "q10k_tbl_195": "As of December 31 2009 (M€) Assets / (Liabilities)\tCarrying amount\tFair value(b)\nCrude oil petroleum products and freight rates activities\t\t\nPetroleum products and crude oil swaps\t(29)\t(29)\nFreight rate swaps\t0\t0\nForwards(a)\t(9)\t(9)\nOptions\t21\t21\nFutures\t(17)\t(17)\nOptions on futures\t6\t6\nTotal crude oil petroleum products and freight rates\t(28)\t(28)\nGas & Power activities\t\t\nSwaps\t52\t52\nForwards(a)\t78\t78\nOptions\t4\t4\nFutures\t0\t0\nTotal Gas & Power\t134\t134\nTotal\t106\t106\nTotal of fair value non-recognized in the balance sheet\t\t0\n", "q10k_tbl_196": "For the year ended December 31 (M€)\tFair value as of January 1\tImpact on income\tSettled contracts\tOther\tFair value as of December 31\nCrude oil petroleum products and freight rates activities\t\t\t\t\t\n2011\t38\t1572\t(1648)\t1\t(37)\n2010\t(28)\t1556\t(1488)\t(2)\t38\n2009\t39\t1713\t(1779)\t(1)\t(28)\nGas & Power activities\t\t\t\t\t\n2011\t(98)\t899\t(295)\t0\t506\n2010\t134\t410\t(648)\t6\t(98)\n2009\t592\t327\t(824)\t39\t134\n", "q10k_tbl_197": "As of December 31 2011 (M€)\tQuoted prices in active markets for identical assets (level 1)\tPrices based on observable data (level 2)\tPrices based on non-observable data (level 3)\tTotal\nCrude oil petroleum products and freight rates activities\t(38)\t1\t0\t(37)\nGas & Power activities\t(44)\t550\t0\t506\nTotal\t(82)\t551\t0\t469\n", "q10k_tbl_198": "As of December 31 2010 (M€)\tQuoted prices in active markets for identical assets (level 1)\tPrices based on observable data (level 2)\tPrices based on non-observable data (level 3)\tTotal\nCrude oil petroleum products and freight rates activities\t(10)\t48\t0\t38\nGas & Power activities\t50\t(148)\t0\t(98)\nTotal\t40\t(100)\t0\t(60)\n", "q10k_tbl_199": "As of December 31 2009 (M€)\tQuoted prices in active markets for identical assets (level 1)\tPrices based on observable data (level 2)\tPrices based on non-observable data (level 3)\tTotal\nCrude oil petroleum products and freight rates activities\t(45)\t17\t0\t(28)\nGas & Power activities\t140\t(6)\t0\t134\nTotal\t95\t11\t0\t106\n", "q10k_tbl_200": "As of December 31 (M€)\tHigh\tLow\tAverage\tYear end\n2011\t10.6\t3.7\t6.1\t6.3\n2010\t23.1\t3.4\t8.9\t3.8\n2009\t18.8\t5.8\t10.2\t7.6\n", "q10k_tbl_201": "As of December 31 (M€)\tHigh\tLow\tAverage\tYear end\n2011\t21.0\t12.7\t16.0\t17.6\n2010\t13.9\t2.7\t6.8\t10.0\n2009\t9.8\t1.9\t5.0\t4.8\n", "q10k_tbl_202": "\t\t\tChange in fair value due to a change in interest rate by\t\nAssets / (Liabilities) (M€)\tCarrying amount\tEstimated fair value\t+ 10 basis points\t- 10 basis points\nAs of December 31 2011\t\t\t\t\nBonds (non-current portion before swaps)\t(21402)\t(22092)\t83\t(83)\nSwaps hedging fixed-rates bonds (liabilities)\t(146)\t(146)\t\t\nSwaps hedging fixed-rates bonds (assets)\t1976\t1976\t\t\nTotal swaps hedging fixed-rates bonds (assets and liabilities)\t1830\t1830\t(49)\t49\nCurrent portion of non-current debt after swap (excluding capital lease obligations)\t3488\t3488\t3\t(3)\nOther interest rates swaps\t(1)\t(1)\t3\t(3)\nCurrency swaps and forward exchange contracts\t47\t47\t0\t0\nAs of December 31 2010\t\t\t\t\nBonds (non-current portion before swaps)\t(20019)\t(20408)\t86\t(84)\nSwaps hedging fixed-rates bonds (liabilities)\t(178)\t(178)\t\t\nSwaps hedging fixed-rates bonds (assets)\t1870\t1870\t\t\nTotal swaps hedging fixed-rates bonds (assets and liabilities)\t1692\t1692\t(59)\t59\nCurrent portion of non-current debt after swap (excluding capital lease obligations)\t3483\t3483\t4\t(4)\nOther interest rates swaps\t(2)\t(2)\t3\t(3)\nCurrency swaps and forward exchange contracts\t(101)\t(101)\t0\t0\nAs of December 31 2009\t\t\t\t\nBonds (non-current portion before swaps)\t(18368)\t(18836)\t75\t(75)\nSwaps hedging fixed-rates bonds (liabilities)\t(241)\t(241)\t\t\nSwaps hedging fixed-rates bonds (assets)\t1025\t1025\t\t\nTotal swaps hedging fixed-rates bonds (assets and liabilities)\t784\t784\t(57)\t57\nCurrent portion of non-current debt after swap (excluding capital lease obligations)\t(2111)\t(2111)\t3\t(3)\nOther interest rates swaps\t(1)\t(1)\t1\t(1)\nCurrency swaps and forward exchange contracts\t34\t34\t0\t0\n", "q10k_tbl_203": "For the year ended December 31 (M€)\t2011\t2010\t2009\nCost of net debt\t(440)\t(334)\t(398)\nInterest rate translation of :\t\t\t\n+ 10 basis points\t(10)\t(11)\t(11)\n- 10 basis points\t10\t11\t11\n+ 100 basis points\t(103)\t(107)\t(108)\n- 100 basis points\t103\t107\t108\n", "q10k_tbl_204": "\tEuro / Dollar exchange rates\tEuro / Pound sterling exchange rates\nAs of December 31 2011\t1.29\t0.84\nAs of December 31 2010\t1.34\t0.86\nAs of December 31 2009\t1.44\t0.89\n", "q10k_tbl_205": "As of December 31 2011 (M€)\tTotal\tEuro\tDollar\tPound sterling\tOther currencies and equity affiliates(a)\nShareholders' equity at historical exchange rate\t69025\t41396\t21728\t4713\t1188\nCurrency translation adjustment before net investment hedge\t(962)\t\t127\t(923)\t(166)\nNet investment hedge - open instruments\t(26)\t\t(25)\t(1)\t0\nShareholders' equity at exchange rate as of December 31 2011\t68037\t41396\t21830\t3789\t1022\nAs of December 31 2010 (M€)\tTotal\tEuro\tDollar\tPound sterling\tOther currencies and equity affiliates(a)\nShareholders' equity at historical exchange rate\t62909\t32894\t22242\t4997\t2776\nCurrency translation adjustment before net investment hedge\t(2501)\t0\t(1237)\t(1274)\t10\nNet investment hedge - open instruments\t6\t0\t6\t0\t0\nShareholders' equity at exchange rate as of December 31 2010\t60414\t32894\t21011\t3723\t2786\nAs of December 31 2009 (M€)\tTotal\tEuro\tDollar\tPound sterling\tOther currencies and equity affiliates\nShareholders' equity at historical exchange rate\t57621\t27717\t18671\t5201\t6032\nCurrency translation adjustment before net investment hedge\t(5074)\t0\t(3027)\t(1465)\t(582)\nNet investment hedge - open instruments\t5\t0\t6\t(1)\t0\nShareholders' equity at exchange rate as of December 31 2009\t52552\t27717\t15650\t3735\t5450\n", "q10k_tbl_206": "As of December 31 2011 (M€) Assets/(Liabilities)\tLess than one year\t1-2 years\t2-3 years\t3-4 years\t4-5 years\tMore than 5 years\tTotal\nNon-current financial debt (notional value excluding interests)\t\t(4492)\t(3630)\t(3614)\t(1519)\t(7326)\t(20581)\nCurrent borrowings\t(9675)\t\t\t\t\t\t(9675)\nOther current financial liabilities\t(167)\t\t\t\t\t\t(167)\nCurrent financial assets\t700\t\t\t\t\t\t700\nCash and cash equivalents\t14025\t\t\t\t\t\t14025\nNet amount before financial expense\t4883\t(4492)\t(3630)\t(3614)\t(1519)\t(7326)\t(15698)\nFinancial expense on non-current financial debt\t(785)\t(691)\t(521)\t(417)\t(302)\t(1075)\t(3791)\nInterest differential on swaps\t320\t331\t221\t120\t55\t44\t1091\nNet amount\t4418\t(4852)\t(3930)\t(3911)\t(1766)\t(8357)\t(18398)\nAs of December 31 2010 (M€) Assets/(Liabilities)\tLess than one year\t1-2 years\t2-3 years\t3-4 years\t4-5 years\tMore than 5 years\tTotal\nNon-current financial debt (notional value excluding interests)\t\t(3355)\t(3544)\t(2218)\t(3404)\t(6392)\t(18913)\nCurrent borrowings\t(9653)\t\t\t\t\t\t(9653)\nOther current financial liabilities\t(159)\t\t\t\t\t\t(159)\nCurrent financial assets\t1205\t\t\t\t\t\t1205\nCash and cash equivalents\t14489\t\t\t\t\t\t14489\nNet amount before financial expense\t5882\t(3355)\t(3544)\t(2218)\t(3404)\t(6392)\t(13031)\nFinancial expense on non-current financial debt\t(843)\t(729)\t(605)\t(450)\t(358)\t(1195)\t(4180)\nInterest differential on swaps\t461\t334\t153\t33\t2\t(78)\t905\nNet amount\t5500\t(3750)\t(3996)\t(2635)\t(3760)\t(7665)\t(16306)\nAs of December 31 2009 (M€) Assets/(Liabilities)\tLess than one year\t1-2 years\t2-3 years\t3-4 years\t4-5 years\tMore than 5 years\tTotal\nNon-current financial debt (notional value excluding interests)\t\t(3658)\t(3277)\t(3545)\t(2109)\t(5823)\t(18412)\nCurrent borrowings\t(6994)\t\t\t\t\t\t(6994)\nOther current financial liabilities\t(123)\t\t\t\t\t\t(123)\nCurrent financial assets\t311\t\t\t\t\t\t311\nCash and cash equivalents\t11662\t\t\t\t\t\t11662\nNet amount before financial expense\t4856\t(3658)\t(3277)\t(3545)\t(2109)\t(5823)\t(13556)\nFinancial expense on non-current financial debt\t(768)\t(697)\t(561)\t(448)\t(301)\t(1112)\t(3887)\nInterest differential on swaps\t447\t233\t100\t25\t(16)\t(55)\t734\nNet amount\t4535\t(4122)\t(3738)\t(3968)\t(2426)\t(6990)\t(16709)\n", "q10k_tbl_207": "As of December 31 (M€) Assets/(Liabilities)\t2011\t2010\t2009\nAccounts payable\t(22086)\t(18450)\t(15383)\nOther operating liabilities\t(5441)\t(3574)\t(4706)\nincluding financial instruments related to commodity contracts\t(606)\t(559)\t(923)\nAccounts receivable net\t20049\t18159\t15719\nOther operating receivables\t7467\t4407\t5145\nincluding financial instruments related to commodity contracts\t1074\t499\t1029\nTotal\t(11)\t542\t775\n", "q10k_tbl_208": "As of December 31 (M€) Assets/ (Liabilities)\t2011\t2010\t2009\nLoans to equity affiliates (Note 12)\t2246\t2383\t2367\nLoans and advances (Note 14)\t2055\t1596\t1284\nHedging instruments of non-current financial debt (Note 20)\t1976\t1870\t1025\nAccounts receivable (Note 16)\t20049\t18159\t15719\nOther operating receivables (Note 16)\t7467\t4407\t5145\nCurrent financial assets (Note 20)\t700\t1205\t311\nCash and cash equivalents (Note 27)\t14025\t14489\t11662\nTotal\t48518\t44109\t37513\n", "q10k_tbl_209": "Proved developed and undeveloped reserves\tConsolidated subsidiaries\t\t\t\t\t\n(in million barrels of oil equivalent)\tEurope\tAfrica\tAmericas\tMiddle East\tAsia\tTotal\nBalance as of December 31 2008\t1815\t3646\t732\t530\t1242\t7965\nRevisions of previous estimates\t46\t76\t14\t(7)\t25\t154\nExtensions discoveries and other\t18\t53\t284\t76\t0\t431\nAcquisitions of reserves in place\t12\t0\t130\t0\t0\t142\nSales of reserves in place\t(2)\t(43)\t(14)\t0\t0\t(59)\nProduction for the year\t(224)\t(266)\t(56)\t(55)\t(101)\t(702)\nBalance as of December 31 2009\t1665\t3466\t1090\t544\t1166\t7931\nRevisions of previous estimates\t92\t200\t82\t(10)\t1\t365\nExtensions discoveries and other\t182\t0\t18\t96\t30\t326\nAcquisitions of reserves in place\t23\t0\t425\t0\t9\t457\nSales of reserves in place\t(45)\t(26)\t(5)\t0\t(8)\t(84)\nProduction for the year\t(211)\t(269)\t(70)\t(56)\t(99)\t(705)\nBalance as of December 31 2010\t1706\t3371\t1540\t574\t1099\t8290\nRevisions of previous estimates\t117\t(61)\t(36)\t(68)\t(19)\t(67)\nExtensions discoveries and other\t57\t6\t0\t0\t588\t651\nAcquisitions of reserves in place\t44\t0\t309\t0\t2\t355\nSales of reserves in place\t0\t(65)\t0\t0\t0\t(65)\nProduction for the year\t(187)\t(237)\t(75)\t(56)\t(93)\t(648)\nBalance as of December 31 2011\t1737\t3014\t1738\t450\t1577\t8516\nMinority interest in proved developed and undeveloped reserves as of\t\t\t\t\t\t\nDecember 31 2009\t26\t98\t0\t0\t0\t124\nDecember 31 2010\t26\t100\t0\t0\t0\t126\nDecember 31 2011\t0\t98\t0\t0\t0\t98\nProved developed and undeveloped reserves\tEquity affiliates\t\t\t\t\t\n(in million barrels of oil equivalent)\tEurope\tAfrica\tAmericas\tMiddle East\tAsia\tTotal\nBalance as of December 31 2008\t0\t98\t527\t1868\t0\t2493\nRevisions of previous estimates\t0\t10\t(7)\t51\t0\t54\nExtensions discoveries and other\t0\t0\t0\t136\t0\t136\nAcquisitions of reserves in place\t0\t0\t0\t0\t0\t0\nSales of reserves in place\t0\t0\t0\t0\t0\t0\nProduction for the year\t0\t(8)\t(18)\t(105)\t0\t(131)\nBalance as of December 31 2009\t0\t100\t502\t1950\t0\t2552\nRevisions of previous estimates\t0\t14\t4\t(2)\t0\t16\nExtensions discoveries and other\t0\t0\t0\t0\t0\t0\nAcquisitions of reserves in place\t0\t0\t0\t0\t0\t0\nSales of reserves in place\t0\t0\t0\t0\t0\t0\nProduction for the year\t0\t(7)\t(20)\t(136)\t0\t(163)\nBalance as of December 31 2010\t0\t107\t486\t1812\t0\t2405\nRevisions of previous estimates\t0\t(1)\t(8)\t(20)\t0\t(29)\nExtensions discoveries and other\t0\t0\t0\t0\t0\t0\nAcquisitions of reserves in place\t0\t0\t0\t0\t779\t779\nSales of reserves in place\t0\t(24)\t(4)\t(11)\t0\t(39)\nProduction for the year\t0\t(4)\t(18)\t(152)\t(35)\t(209)\nBalance as of December 31 2011\t0\t78\t456\t1629\t744\t2907\n", "q10k_tbl_210": "\tConsolidated subsidiaries and equity affiliates\t\t\t\t\t\n(in million barrels of oil equivalent)\tEurope\tAfrica\tAmericas\tMiddle East\tAsia\tTotal\nAs of December 31 2009\t\t\t\t\t\t\nProved developed and undeveloped reserves\t1665\t3566\t1592\t2494\t1166\t10483\nConsolidated subsidiaries\t1665\t3466\t1090\t544\t1166\t7931\nEquity affiliates\t0\t100\t502\t1950\t0\t2552\nProved developed reserves\t1096\t1775\t631\t1918\t415\t5835\nConsolidated subsidiaries\t1096\t1745\t503\t482\t415\t4241\nEquity affiliates\t0\t30\t128\t1436\t0\t1594\nProved undeveloped reserves\t569\t1791\t961\t576\t751\t4648\nConsolidated subsidiaries\t569\t1721\t587\t62\t751\t3690\nEquity affiliates\t0\t70\t374\t514\t0\t958\nAs of December 31 2010\t\t\t\t\t\t\nProved developed and undeveloped reserves\t1706\t3478\t2026\t2386\t1099\t10695\nConsolidated subsidiaries\t1706\t3371\t1540\t574\t1099\t8290\nEquity affiliates\t0\t107\t486\t1812\t0\t2405\nProved developed reserves\t962\t1692\t638\t2055\t361\t5708\nConsolidated subsidiaries\t962\t1666\t505\t427\t361\t3921\nEquity affiliates\t0\t26\t133\t1628\t0\t1787\nProved undeveloped reserves\t744\t1786\t1388\t331\t738\t4987\nConsolidated subsidiaries\t744\t1705\t1035\t147\t738\t4369\nEquity affiliates\t0\t81\t353\t184\t0\t618\nAs of December 31 2011\t\t\t\t\t\t\nProved developed and undeveloped reserves\t1737\t3092\t2194\t2079\t2321\t11423\nConsolidated subsidiaries\t1737\t3014\t1738\t450\t1577\t8516\nEquity affiliates\t0\t78\t456\t1629\t744\t2907\nProved developed reserves\t894\t1660\t647\t1869\t976\t6046\nConsolidated subsidiaries\t894\t1639\t524\t371\t321\t3749\nEquity affiliates\t0\t21\t123\t1498\t655\t2297\nProved undeveloped reserves\t843\t1432\t1547\t210\t1345\t5377\nConsolidated subsidiaries\t843\t1375\t1214\t79\t1256\t4767\nEquity affiliates\t0\t57\t333\t131\t89\t610\n", "q10k_tbl_211": "Proved developed and undeveloped reserves\tConsolidated subsidiaries\t\t\t\t\t\n\tEurope\tAfrica\tAmericas\tMiddle East\tAsia\tTotal\n(in million barrels)\t\t\nBalance as of December 31 2008\t798\t2597\t252\t225\t538\t4410\nRevisions of previous estimates\t34\t92\t(170)\t(4)\t51\t3\nExtensions discoveries and other\t8\t38\t22\t1\t0\t69\nAcquisitions of reserves in place\t1\t0\t0\t0\t0\t1\nSales of reserves in place\t0\t(44)\t(1)\t0\t0\t(45)\nProduction for the year\t(108)\t(223)\t(15)\t(34)\t(17)\t(397)\nBalance as of December 31 2009\t733\t2460\t88\t188\t572\t4041\nRevisions of previous estimates\t46\t131\t7\t(2)\t0\t182\nExtensions discoveries and other\t146\t0\t2\t82\t4\t234\nAcquisitions of reserves in place\t2\t0\t0\t0\t0\t2\nSales of reserves in place\t(37)\t(23)\t(2)\t0\t(7)\t(69)\nProduction for the year\t(98)\t(218)\t(16)\t(29)\t(15)\t(376)\nBalance as of December 31 2010\t792\t2350\t79\t239\t554\t4014\nRevisions of previous estimates\t49\t(19)\t9\t(33)\t(24)\t(18)\nExtensions discoveries and other\t17\t6\t0\t0\t58\t81\nAcquisitions of reserves in place\t42\t0\t0\t0\t0\t42\nSales of reserves in place\t0\t(57)\t0\t0\t0\t(57)\nProduction for the year\t(88)\t(185)\t(15)\t(25)\t(15)\t(328)\nBalance as of December 31 2011\t812\t2095\t73\t181\t573\t3734\nMinority interest in proved developed and undeveloped reserves as of\t\t\t\t\t\t\nDecember 31 2009\t12\t88\t0\t0\t0\t100\nDecember 31 2010\t11\t89\t0\t0\t0\t100\nDecember 31 2011\t0\t88\t0\t0\t0\t88\nProved developed and undeveloped reserves\tEquity affiliates\t\t\t\t\t\n\tEurope\tAfrica\tAmericas\tMiddle East\tAsia\tTotal\n(in million barrels)\t\t\nBalance as of December 31 2008\t0\t58\t508\t719\t0\t1285\nRevisions of previous estimates\t0\t(14)\t(5)\t(15)\t0\t(34)\nExtensions discoveries and other\t0\t0\t0\t136\t0\t136\nAcquisitions of reserves in place\t0\t0\t0\t0\t0\t0\nSales of reserves in place\t0\t0\t0\t0\t0\t0\nProduction for the year\t0\t(7)\t(18)\t(79)\t0\t(104)\nBalance as of December 31 2009\t0\t37\t485\t761\t0\t1283\nRevisions of previous estimates\t0\t4\t4\t3\t0\t11\nExtensions discoveries and other\t0\t0\t0\t0\t0\t0\nAcquisitions of reserves in place\t0\t0\t0\t0\t0\t0\nSales of reserves in place\t0\t0\t0\t0\t0\t0\nProduction for the year\t0\t(7)\t(19)\t(84)\t0\t(110)\nBalance as of December 31 2010\t0\t34\t470\t680\t0\t1184\nRevisions of previous estimates\t0\t2\t(6)\t(12)\t0\t(16)\nExtensions discoveries and other\t0\t0\t0\t0\t0\t0\nAcquisitions of reserves in place\t0\t0\t0\t0\t51\t51\nSales of reserves in place\t0\t(22)\t(4)\t(12)\t0\t(38)\nProduction for the year\t0\t(4)\t(17)\t(91)\t(3)\t(115)\nBalance as of December 31 2011\t0\t10\t443\t565\t48\t1066\n", "q10k_tbl_212": "\tConsolidated subsidiaries and equity affiliates\t\t\t\t\t\n\tEurope\tAfrica\tAmericas\tMiddle East\tAsia\tTotal\n(in million barrels)\t\t\nAs of December 31 2009\t\t\t\t\t\t\nProved developed and undeveloped reserves\t733\t2497\t573\t949\t572\t5324\nConsolidated subsidiaries\t733\t2460\t88\t188\t572\t4041\nEquity affiliates\t0\t37\t485\t761\t0\t1283\nProved developed reserves\t457\t1331\t187\t728\t65\t2768\nConsolidated subsidiaries\t457\t1303\t66\t174\t65\t2065\nEquity affiliates\t0\t28\t121\t554\t0\t703\nProved undeveloped reserves\t276\t1166\t386\t221\t507\t2556\nConsolidated subsidiaries\t276\t1157\t22\t14\t507\t1976\nEquity affiliates\t0\t9\t364\t207\t0\t580\nAs of December 31 2010\t\t\t\t\t\t\nProved developed and undeveloped reserves\t792\t2384\t549\t919\t554\t5198\nConsolidated subsidiaries\t792\t2350\t79\t239\t554\t4014\nEquity affiliates\t0\t34\t470\t680\t0\t1184\nProved developed reserves\t394\t1250\t180\t662\t58\t2544\nConsolidated subsidiaries\t394\t1226\t53\t151\t58\t1882\nEquity affiliates\t0\t24\t127\t511\t0\t662\nProved undeveloped reserves\t398\t1134\t369\t257\t496\t2654\nConsolidated subsidiaries\t398\t1124\t26\t88\t496\t2132\nEquity affiliates\t0\t10\t343\t169\t0\t522\nAs of December 31 2011\t\t\t\t\t\t\nProved developed and undeveloped reserves\t812\t2105\t516\t746\t621\t4800\nConsolidated subsidiaries\t812\t2095\t73\t181\t573\t3734\nEquity affiliates\t0\t10\t443\t565\t48\t1066\nProved developed reserves\t351\t1206\t165\t565\t91\t2378\nConsolidated subsidiaries\t351\t1202\t48\t116\t50\t1767\nEquity affiliates\t0\t4\t117\t449\t41\t611\nProved undeveloped reserves\t461\t899\t351\t181\t530\t2422\nConsolidated subsidiaries\t461\t893\t25\t65\t523\t1967\nEquity affiliates\t0\t6\t326\t116\t7\t455\n", "q10k_tbl_213": "Proved developed and undeveloped reserves\tConsolidated subsidiaries\t\t\t\t\t\n(in million barrels)\tEurope\tAfrica\tAmericas\tMiddle East\tAsia\tTotal\nBalance as of December 31 2008\t0\t0\t0\t0\t0\t0\nRevisions of previous estimates\t0\t0\t176\t0\t0\t176\nExtensions discoveries and other\t0\t0\t192\t0\t0\t192\nAcquisitions of reserves in place\t0\t0\t0\t0\t0\t0\nSales of reserves in place\t0\t0\t0\t0\t0\t0\nProduction for the year\t0\t0\t(3)\t0\t0\t(3)\nBalance as of December 31 2009\t0\t0\t365\t0\t0\t365\nRevisions of previous estimates\t0\t0\t3\t0\t0\t3\nExtensions discoveries and other\t0\t0\t0\t0\t0\t0\nAcquisitions of reserves in place\t0\t0\t425\t0\t0\t425\nSales of reserves in place\t0\t0\t0\t0\t0\t0\nProduction for the year\t0\t0\t(4)\t0\t0\t(4)\nBalance as of December 31 2010\t0\t0\t789\t0\t0\t789\nRevisions of previous estimates\t0\t0\t(109)\t0\t0\t(109)\nExtensions discoveries and other\t0\t0\t0\t0\t0\t0\nAcquisitions of reserves in place\t0\t0\t308\t0\t0\t308\nSales of reserves in place\t0\t0\t0\t0\t0\t0\nProduction for the year\t0\t0\t(4)\t0\t0\t(4)\nBalance as of December 31 2011\t0\t0\t984\t0\t0\t984\nProved developed reserves as of\t\t\t\t\t\t\nDecember 31 2009\t0\t0\t19\t0\t0\t19\nDecember 31 2010\t0\t0\t18\t0\t0\t18\nDecember 31 2011\t0\t0\t21\t0\t0\t21\nProved undeveloped reserves as of\t\t\t\t\t\t\nDecember 31 2009\t0\t0\t346\t0\t0\t346\nDecember 31 2010\t0\t0\t771\t0\t0\t771\nDecember 31 2011\t0\t0\t963\t0\t0\t963\n", "q10k_tbl_214": "Proved developed and undeveloped reserves\tConsolidated subsidiaries\t\t\t\t\t\n(in billion cubic feet)\tEurope\tAfrica\tAmericas\tMiddle East\tAsia\tTotal\nBalance as of December 31 2008\t5507\t5529\t2714\t1769\t4098\t19617\nRevisions of previous estimates\t73\t(127)\t25\t(18)\t(165)\t(212)\nExtensions discoveries and other\t55\t61\t382\t399\t0\t897\nAcquisitions of reserves in place\t58\t0\t752\t0\t0\t810\nSales of reserves in place\t(13)\t0\t(64)\t0\t0\t(77)\nProduction for the year\t(633)\t(217)\t(212)\t(122)\t(467)\t(1651)\nBalance as of December 31 2009\t5047\t5246\t3597\t2028\t3466\t19384\nRevisions of previous estimates\t271\t346\t415\t(80)\t15\t967\nExtensions discoveries and other\t193\t0\t88\t70\t138\t489\nAcquisitions of reserves in place\t111\t0\t0\t0\t51\t162\nSales of reserves in place\t(43)\t(20)\t(16)\t0\t(4)\t(83)\nProduction for the year\t(617)\t(258)\t(278)\t(151)\t(472)\t(1776)\nBalance as of December 31 2010\t4962\t5314\t3806\t1867\t3194\t19143\nRevisions of previous estimates\t358\t(216)\t367\t(180)\t1\t330\nExtensions discoveries and other\t211\t0\t0\t0\t2824\t3035\nAcquisitions of reserves in place\t11\t0\t7\t0\t13\t31\nSales of reserves in place\t0\t(46)\t0\t0\t0\t(46)\nProduction for the year\t(528)\t(259)\t(317)\t(169)\t(445)\t(1718)\nBalance as of December 31 2011\t5014\t4793\t3863\t1518\t5587\t20775\nMinority interest in proved developed and undeveloped reserves as of\t\t\t\t\t\t\nDecember 31 2009\t73\t60\t0\t0\t0\t133\nDecember 31 2010\t83\t67\t0\t0\t0\t150\nDecember 31 2011\t0\t62\t0\t0\t0\t62\nProved developed and undeveloped reserves\tEquity affiliates\t\t\t\t\t\n(in billion cubic feet)\tEurope\tAfrica\tAmericas\tMiddle East\tAsia\tTotal\nBalance as of December 31 2008\t0\t215\t110\t6276\t0\t6601\nRevisions of previous estimates\t0\t127\t(13)\t363\t0\t477\nExtensions discoveries and other\t0\t0\t0\t0\t0\t0\nAcquisitions of reserves in place\t0\t0\t0\t0\t0\t0\nSales of reserves in place\t0\t0\t0\t0\t0\t0\nProduction for the year\t0\t(1)\t(2)\t(141)\t0\t(144)\nBalance as of December 31 2009\t0\t341\t95\t6498\t0\t6934\nRevisions of previous estimates\t0\t50\t(2)\t(52)\t0\t(4)\nExtensions discoveries and other\t0\t0\t0\t0\t0\t0\nAcquisitions of reserves in place\t0\t0\t0\t0\t0\t0\nSales of reserves in place\t0\t0\t0\t0\t0\t0\nProduction for the year\t0\t(1)\t(2)\t(282)\t0\t(285)\nBalance as of December 31 2010\t0\t390\t91\t6164\t0\t6645\nRevisions of previous estimates\t0\t(16)\t(10)\t(31)\t0\t(57)\nExtensions discoveries and other\t0\t0\t0\t0\t0\t0\nAcquisitions of reserves in place\t0\t0\t0\t0\t3865\t3865\nSales of reserves in place\t0\t(10)\t0\t0\t0\t(10)\nProduction for the year\t0\t(1)\t(2)\t(331)\t(167)\t(501)\nBalance as of December 31 2011\t0\t363\t79\t5802\t3698\t9942\n", "q10k_tbl_215": "\tConsolidated subsidiaries and equity affiliates\t\t\t\t\t\n(in billion cubic feet)\tEurope\tAfrica\tAmericas\tMiddle East\tAsia\tTotal\nAs of December 31 2009\t\t\t\t\t\t\nProved developed and undeveloped reserves\t5047\t5587\t3692\t8526\t3466\t26318\nConsolidated subsidiaries\t5047\t5246\t3597\t2028\t3466\t19384\nEquity affiliates\t0\t341\t95\t6498\t0\t6934\nProved developed reserves\t3463\t2272\t2388\t6606\t2059\t16788\nConsolidated subsidiaries\t3463\t2261\t2343\t1773\t2059\t11899\nEquity affiliates\t0\t11\t45\t4833\t0\t4889\nProved undeveloped reserves\t1584\t3315\t1304\t1920\t1407\t9530\nConsolidated subsidiaries\t1584\t2985\t1254\t255\t1407\t7485\nEquity affiliates\t0\t330\t50\t1665\t0\t2045\nAs of December 31 2010\t\t\t\t\t\t\nProved developed and undeveloped reserves\t4962\t5704\t3897\t8031\t3194\t25788\nConsolidated subsidiaries\t4962\t5314\t3806\t1867\t3194\t19143\nEquity affiliates\t0\t390\t91\t6164\t0\t6645\nProved developed reserves\t3089\t2240\t2474\t7649\t1790\t17242\nConsolidated subsidiaries\t3089\t2229\t2439\t1578\t1790\t11125\nEquity affiliates\t0\t11\t35\t6071\t0\t6117\nProved undeveloped reserves\t1873\t3464\t1423\t382\t1404\t8546\nConsolidated subsidiaries\t1873\t3085\t1367\t289\t1404\t8018\nEquity affiliates\t0\t379\t56\t93\t0\t528\nAs of December 31 2011\t\t\t\t\t\t\nProved developed and undeveloped reserves\t5014\t5156\t3942\t7320\t9285\t30717\nConsolidated subsidiaries\t5014\t4793\t3863\t1518\t5587\t20775\nEquity affiliates\t0\t363\t79\t5802\t3698\t9942\nProved developed reserves\t2943\t2308\t2600\t7170\t4854\t19875\nConsolidated subsidiaries\t2943\t2216\t2567\t1450\t1594\t10770\nEquity affiliates\t0\t92\t33\t5720\t3260\t9105\nProved undeveloped reserves\t2071\t2848\t1342\t150\t4431\t10842\nConsolidated subsidiaries\t2071\t2577\t1296\t68\t3993\t10005\nEquity affiliates\t0\t271\t46\t82\t438\t837\n", "q10k_tbl_216": "\tConsolidated subsidiaries\t\t\t\t\t\n(M€)\tEurope\tAfrica\tAmericas\tMiddle East\tAsia\tTotal\n2009\t\t\t\t\t\t\nNon-Group sales\t2499\t1994\t583\t859\t1926\t7861\nGroup sales\t4728\t7423\t310\t556\t597\t13614\nTotal Revenues\t7227\t9417\t893\t1415\t2523\t21475\nProduction costs\t(1155)\t(1122)\t(193)\t(204)\t(243)\t(2917)\nExploration expenses\t(160)\t(265)\t(121)\t(81)\t(70)\t(697)\nDepreciation depletion and amortization and valuation allowances\t(1489)\t(1471)\t(262)\t(314)\t(613)\t(4149)\nOther expenses(a)\t(261)\t(895)\t(181)\t(170)\t(56)\t(1563)\nPre-tax income from producing activities\t4162\t5664\t136\t646\t1541\t12149\nIncome tax\t(2948)\t(3427)\t(103)\t(309)\t(747)\t(7534)\nResults of oil and gas producing activities\t1214\t2237\t33\t337\t794\t4615\n2010\t\t\t\t\t\t\nNon-Group sales\t2839\t2639\t628\t1038\t2540\t9684\nGroup sales\t5599\t9894\t540\t644\t683\t17360\nTotal Revenues\t8438\t12533\t1168\t1682\t3223\t27044\nProduction costs\t(1281)\t(1187)\t(222)\t(259)\t(279)\t(3228)\nExploration expenses\t(266)\t(275)\t(216)\t(8)\t(99)\t(864)\nDepreciation depletion and amortization and valuation allowances\t(1404)\t(1848)\t(368)\t(264)\t(830)\t(4714)\nOther expenses(a)\t(299)\t(1014)\t(218)\t(241)\t(72)\t(1844)\nPre-tax income from producing activities\t5188\t8209\t144\t910\t1943\t16394\nIncome tax\t(3237)\t(5068)\t(83)\t(402)\t(950)\t(9740)\nResults of oil and gas producing activities\t1951\t3141\t61\t508\t993\t6654\n2011\t\t\t\t\t\t\nNon-Group sales\t3116\t3188\t776\t1159\t3201\t11440\nGroup sales\t7057\t11365\t764\t737\t712\t20635\nTotal Revenues\t10173\t14553\t1540\t1896\t3913\t32075\nProduction costs\t(1235)\t(1179)\t(250)\t(286)\t(304)\t(3254)\nExploration expenses\t(343)\t(323)\t(48)\t(11)\t(294)\t(1019)\nDepreciation depletion and amortization and valuation allowances\t(1336)\t(1845)\t(352)\t(278)\t(791)\t(4602)\nOther expenses(a)\t(307)\t(1181)\t(274)\t(276)\t(95)\t(2133)\nPre-tax income from producing activities\t6952\t10025\t616\t1045\t2429\t21067\nIncome tax\t(5059)\t(6484)\t(293)\t(465)\t(1302)\t(13603)\nResults of oil and gas producing activities\t1893\t3541\t323\t580\t1127\t7464\n", "q10k_tbl_217": "\tEquity affiliates\t\t\t\t\t\n(M€)\tEurope\tAfrica\tAmericas\tMiddle East\tAsia\tTotal\n2009\t\t\t\t\t\t\nNon-Group sales\t0\t203\t528\t231\t0\t962\nGroup sales\t0\t0\t0\t3382\t0\t3382\nTotal Revenues\t0\t203\t528\t3613\t0\t4344\nProduction costs\t0\t(31)\t(41)\t(271)\t0\t(343)\nExploration expenses\t0\t0\t(17)\t0\t0\t(17)\nDepreciation depletion and amortization and valuation allowances\t0\t(42)\t(73)\t(247)\t0\t(362)\nOther expenses\t0\t(9)\t(205)\t(2800)\t0\t(3014)\nPre-tax income from producing activities\t0\t121\t192\t295\t0\t608\nIncome tax\t0\t(93)\t(74)\t(101)\t0\t(268)\nResults of oil and gas producing activities\t0\t28\t118\t194\t0\t340\n2010\t\t\t\t\t\t\nNon-Group sales\t0\t148\t120\t596\t0\t864\nGroup sales\t0\t3\t565\t4646\t0\t5214\nTotal Revenues\t0\t151\t685\t5242\t0\t6078\nProduction costs\t0\t(44)\t(53)\t(195)\t(1)\t(293)\nExploration expenses\t0\t(7)\t(23)\t0\t0\t(30)\nDepreciation depletion and amortization and valuation allowances\t0\t(44)\t(89)\t(259)\t0\t(392)\nOther expenses\t0\t0\t(268)\t(4034)\t0\t(4302)\nPre-tax income from producing activities\t0\t56\t252\t754\t(1)\t1061\nIncome tax\t0\t0\t(44)\t(142)\t0\t(186)\nResults of oil and gas producing activities\t0\t56\t208\t612\t(1)\t875\n2011\t\t\t\t\t\t\nNon-Group sales\t0\t26\t15\t1080\t256\t1377\nGroup sales\t0\t0\t831\t6804\t0\t7635\nTotal Revenues\t0\t26\t846\t7884\t256\t9012\nProduction costs\t0\t(7)\t(48)\t(250)\t(28)\t(333)\nExploration expenses\t0\t0\t0\t0\t(4)\t(4)\nDepreciation depletion and amortization and valuation allowances\t0\t(7)\t(44)\t(225)\t(109)\t(385)\nOther expenses\t0\t0\t(550)\t(6101)\t(36)\t(6687)\nPre-tax income from producing activities\t0\t12\t204\t1308\t79\t1603\nIncome tax\t0\t0\t(95)\t(285)\t(34)\t(414)\nResults of oil and gas producing activities\t0\t12\t109\t1023\t45\t1189\n", "q10k_tbl_218": "\tConsolidated subsidiaries\t\t\t\t\t\n(M€)\tEurope\tAfrica\tAmericas\tMiddle East\tAsia\tTotal\n2009\t\t\t\t\t\t\nProved property acquisition\t71\t45\t1551\t105\t0\t1772\nUnproved property acquisition\t26\t8\t403\t0\t21\t458\nExploration costs\t284\t475\t222\t87\t123\t1191\nDevelopment costs(a)\t1658\t3288\t618\t250\t1852\t7666\nTotal cost incurred\t2039\t3816\t2794\t442\t1996\t11087\n2010\t\t\t\t\t\t\nProved property acquisition\t162\t137\t26\t139\t21\t485\nUnproved property acquisition\t5\t124\t1186\t8\t619\t1942\nExploration costs\t361\t407\t276\t17\t250\t1311\nDevelopment costs(a)\t1565\t3105\t718\t247\t2007\t7642\nTotal cost incurred\t2093\t3773\t2206\t411\t2897\t11380\n2011\t\t\t\t\t\t\nProved property acquisition\t298\t10\t413\t2\t251\t974\nUnproved property acquisition\t1\t397\t1692\t3\t14\t2107\nExploration costs\t505\t384\t239\t17\t417\t1562\nDevelopment costs(a)\t2352\t3895\t1329\t329\t2823\t10728\nTotal cost incurred\t3156\t4686\t3673\t351\t3505\t15371\n", "q10k_tbl_219": "\tEquity affiliates\t\t\t\t\t\n(M€)\tEurope\tAfrica\tAmericas\tMiddle East\tAsia\tTotal\n2009\t\t\t\t\t\t\nProved property acquisition\t0\t0\t0\t0\t0\t0\nUnproved property acquisition\t0\t0\t0\t0\t0\t0\nExploration costs\t0\t0\t22\t3\t0\t25\nDevelopment costs(a)\t0\t28\t93\t293\t23\t437\nTotal cost incurred\t0\t28\t115\t296\t23\t462\n2010\t\t\t\t\t\t\nProved property acquisition\t0\t0\t0\t0\t0\t0\nUnproved property acquisition\t0\t0\t0\t0\t0\t0\nExploration costs\t0\t4\t30\t4\t0\t38\nDevelopment costs(a)\t0\t20\t99\t476\t73\t668\nTotal cost incurred\t0\t24\t129\t480\t73\t706\n2011\t\t\t\t\t\t\nProved property acquisition\t0\t0\t0\t0\t2691\t2691\nUnproved property acquisition\t0\t0\t0\t0\t1116\t1116\nExploration costs\t0\t0\t2\t0\t0\t2\nDevelopment costs(a)\t0\t2\t106\t314\t939\t1361\nTotal cost incurred\t0\t2\t108\t314\t4746\t5170\n", "q10k_tbl_220": "\tConsolidated subsidiaries\t\t\t\t\t\n(M€)\tEurope\tAfrica\tAmericas\tMiddle East\tAsia\tTotal\nAs of December 31 2009\t\t\t\t\t\t\nProved properties\t30613\t27557\t7123\t5148\t10102\t80543\nUnproved properties\t337\t1138\t839\t30\t555\t2899\nTotal capitalized costs\t30950\t28695\t7962\t5178\t10657\t83442\nAccumulated depreciation depletion and amortization\t(21870)\t(13510)\t(2214)\t(3325)\t(3085)\t(44004)\nNet capitalized costs\t9080\t15185\t5748\t1853\t7572\t39438\nAs of December 31 2010\t\t\t\t\t\t\nProved properties\t31735\t32494\t7588\t5715\t12750\t90282\nUnproved properties\t402\t1458\t2142\t49\t1433\t5484\nTotal capitalized costs\t32137\t33952\t9730\t5764\t14183\t95766\nAccumulated depreciation depletion and amortization\t(23006)\t(16716)\t(2302)\t(3849)\t(4092)\t(49965)\nNet capitalized costs\t9131\t17236\t7428\t1915\t10091\t45801\nAs of December 31 2011\t\t\t\t\t\t\nProved properties\t34308\t37032\t8812\t6229\t17079\t103460\nUnproved properties\t460\t1962\t4179\t62\t911\t7574\nTotal capitalized costs\t34768\t38994\t12991\t6291\t17990\t111034\nAccumulated depreciation depletion and amortization\t(24047)\t(18642)\t(2294)\t(4274)\t(5066)\t(54323)\nNet capitalized costs\t10721\t20352\t10697\t2017\t12924\t56711\n", "q10k_tbl_221": "\tEquity affiliates\t\t\t\t\t\n(M€)\tEurope\tAfrica\tAmericas\tMiddle East\tAsia\tTotal\nAs of December 31 2009\t\t\t\t\t\t\nProved properties\t0\t610\t726\t2404\t0\t3740\nUnproved properties\t0\t0\t135\t0\t62\t197\nTotal capitalized costs\t0\t610\t861\t2404\t62\t3937\nAccumulated depreciation depletion and amortization\t0\t(387)\t(171)\t(1723)\t0\t(2281)\nNet capitalized costs\t0\t223\t690\t681\t62\t1656\nAs of December 31 2010\t\t\t\t\t\t\nProved properties\t0\t639\t887\t3110\t0\t4636\nUnproved properties\t0\t25\t168\t0\t138\t331\nTotal capitalized costs\t0\t664\t1055\t3110\t138\t4967\nAccumulated depreciation depletion and amortization\t0\t(462)\t(307)\t(2029)\t0\t(2798)\nNet capitalized costs\t0\t202\t748\t1081\t138\t2169\nAs of December 31 2011\t\t\t\t\t\t\nProved properties\t0\t0\t731\t3496\t3973\t8200\nUnproved properties\t0\t0\t0\t0\t1146\t1146\nTotal capitalized costs\t0\t0\t731\t3496\t5119\t9346\nAccumulated depreciation depletion and amortization\t0\t0\t(96)\t(2337)\t(213)\t(2646)\nNet capitalized costs\t0\t0\t635\t1159\t4906\t6700\n", "q10k_tbl_222": "\tConsolidated subsidiaries\t\t\t\t\t\n(M€)\tEurope\tAfrica\tAmericas\tMiddle East\tAsia\tTotal\nAs of December 31 2009\t\t\t\t\t\t\nFuture cash inflows\t50580\t107679\t18804\t9013\t32004\t218080\nFuture production costs\t(11373)\t(23253)\t(8286)\t(2831)\t(6996)\t(52739)\nFuture development costs\t(12795)\t(21375)\t(5728)\t(698)\t(6572)\t(47168)\nFuture income taxes\t(17126)\t(36286)\t(1293)\t(2041)\t(5325)\t(62071)\nFuture net cash flows after income taxes\t9286\t26765\t3497\t3443\t13111\t56102\nDiscount at 10%\t(3939)\t(13882)\t(2696)\t(1558)\t(8225)\t(30300)\nStandardized measure of discounted future net cash flows\t5347\t12883\t801\t1885\t4886\t25802\nAs of December 31 2010\t\t\t\t\t\t\nFuture cash inflows\t65644\t142085\t42378\t14777\t41075\t305959\nFuture production costs\t(16143)\t(29479)\t(19477)\t(4110)\t(6476)\t(75685)\nFuture development costs\t(18744)\t(25587)\t(8317)\t(3788)\t(8334)\t(64770)\nFuture income taxes\t(20571)\t(51390)\t(3217)\t(2541)\t(7281)\t(85000)\nFuture net cash flows after income taxes\t10186\t35629\t11367\t4338\t18984\t80504\nDiscount at 10%\t(5182)\t(16722)\t(8667)\t(2106)\t(11794)\t(44471)\nStandardized measure of discounted future net cash flows\t5004\t18907\t2700\t2232\t7190\t36033\nAs of December 31 2011\t\t\t\t\t\t\nFuture cash inflows\t85919\t167367\t53578\t14297\t67868\t389029\nFuture production costs\t(18787)\t(31741)\t(22713)\t(3962)\t(12646)\t(89849)\nFuture development costs\t(21631)\t(22776)\t(11548)\t(3110)\t(11044)\t(70109)\nFuture income taxes\t(28075)\t(71049)\t(4361)\t(2794)\t(12963)\t(119242)\nFuture net cash flows after income taxes\t17426\t41801\t14956\t4431\t31215\t109829\nDiscount at 10%\t(9426)\t(17789)\t(12298)\t(2186)\t(20717)\t(62416)\nStandardized measure of discounted future net cash flows\t8000\t24012\t2658\t2245\t10498\t47413\nMinority interests in future net cash flows as of\t\t\t\t\t\t\nDecember 31 2009\t212\t60\t0\t0\t0\t272\nDecember 31 2010\t273\t344\t0\t0\t0\t617\nDecember 31 2011\t0\t558\t0\t0\t0\t558\n\tEquity affiliates\t\t\t\t\t\n(M€)\tEurope\tAfrica\tAmericas\tMiddle East\tAsia\tTotal\nAs of December 31 2009\t\t\t\t\t\t\nFuture cash inflows\t0\t1432\t16750\t48486\t0\t66668\nFuture production costs\t0\t(624)\t(6993)\t(30739)\t0\t(38356)\nFuture development costs\t0\t(26)\t(1924)\t(3891)\t0\t(5841)\nFuture income taxes\t0\t(245)\t(3650)\t(1843)\t0\t(5738)\nFuture net cash flows after income taxes\t0\t537\t4183\t12013\t0\t16733\nDiscount at 10%\t0\t(239)\t(2816)\t(6383)\t0\t(9438)\nStandardized measure of discounted future net cash flows\t0\t298\t1367\t5630\t0\t7295\nAs of December 31 2010\t\t\t\t\t\t\nFuture cash inflows\t0\t1814\t22293\t59472\t0\t83579\nFuture production costs\t0\t(765)\t(8666)\t(40085)\t0\t(49516)\nFuture development costs\t0\t(26)\t(2020)\t(3006)\t0\t(5052)\nFuture income taxes\t0\t(349)\t(5503)\t(2390)\t0\t(8242)\nFuture net cash flows after income taxes\t0\t674\t6104\t13991\t0\t20769\nDiscount at 10%\t0\t(203)\t(3946)\t(7386)\t0\t(11535)\nStandardized measure of discounted future net cash flows\t0\t471\t2158\t6605\t0\t9234\nAs of December 31 2011\t\t\t\t\t\t\nFuture cash inflows\t0\t210\t29887\t64977\t7116\t102190\nFuture production costs\t0\t(95)\t(17393)\t(39800)\t(2683)\t(59971)\nFuture development costs\t0\t0\t(1838)\t(2809)\t(1297)\t(5944)\nFuture income taxes\t0\t(29)\t(5152)\t(3942)\t(2280)\t(11403)\nFuture net cash flows after income taxes\t0\t86\t5504\t18426\t856\t24872\nDiscount at 10%\t0\t(36)\t(3652)\t(9757)\t(196)\t(13641)\nStandardized measure of discounted future net cash flows\t0\t50\t1852\t8669\t660\t11231\n", "q10k_tbl_223": "\tConsolidated subsidiaries\t\t\n(M€)\t2009\t2010\t2011\nBeginning of year\t15986\t25802\t36033\nSales and transfers net of production costs\t(17266)\t(22297)\t(27026)\nNet change in sales and transfer prices and in production costs and other expenses\t35738\t30390\t44315\nExtensions discoveries and improved recovery\t(267)\t716\t1680\nChanges in estimated future development costs\t(4847)\t(7245)\t(4798)\nPreviously estimated development costs incurred during the year\t7552\t7896\t9519\nRevisions of previous quantity estimates\t164\t5523\t1288\nAccretion of discount\t1599\t2580\t3603\nNet change in income taxes\t(12455)\t(6773)\t(16925)\nPurchases of reserves in place\t230\t442\t885\nSales of reserves in place\t(632)\t(1001)\t(1161)\nEnd of year\t25802\t36033\t47413\n\tEquity affiliates\t\t\n(M€)\t2009\t2010\t2011\nBeginning of year\t5301\t7295\t9234\nSales and transfers net of production costs\t(987)\t(1583)\t(1991)\nNet change in sales and transfer prices and in production costs and other expenses\t2789\t2366\t3715\nExtensions discoveries and improved recovery\t407\t0\t0\nChanges in estimated future development costs\t(88)\t195\t(383)\nPreviously estimated development costs incurred during the year\t854\t651\t635\nRevisions of previous quantity estimates\t(790)\t308\t(749)\nAccretion of discount\t530\t730\t923\nNet change in income taxes\t(721)\t(728)\t(1341)\nPurchases of reserves in place\t0\t0\t1812\nSales of reserves in place\t0\t0\t(624)\nEnd of year\t7295\t9234\t11231\n", "q10k_tbl_224": "\tConsolidated subsidiaries\t\t\t\t\t\n\tEurope\tAfrica\tAmericas\tMiddle East\tAsia\tTotal\n2009\t\t\t\t\t\t\nNatural gas production available for sale (Mcf/d)(a)\t1643\t480\t545\t297\t1224\t4189\nProduction prices(b)\t\t\t\t\t\t\nOil (€/b)\t40.76\t40.77\t36.22\t39.94\t37.66\t40.38\nBitumen (€/b)\t0\t0\t23.17\t0\t0\t23.17\nNatural gas (€/kcf)\t4.81\t1.33\t1.56\t0.72\t4.47\t3.70\nProduction costs per unit of production (€/boe)(c)\t\t\t\t\t\t\nTotal liquids and natural gas\t5.30\t4.35\t3.59\t3.86\t2.52\t4.30\nBitumen\t0\t0\t25.45\t0\t0\t25.45\n\tEquity affiliates\t\t\t\t\t\n\tEurope\tAfrica\tAmericas\tMiddle East\tAsia\tTotal\n2009\t\t\t\t\t\t\nNatural gas production available for sale (Mcf/d)(a)\t0\t0\t0\t268\t0\t268\nProduction prices(b)\t\t\t\t\t\t\nOil (€/b)\t0\t42.98\t33.14\t43.98\t0\t42.18\nBitumen (€/b)\t0\t0\t0\t0\t0\t0\nNatural gas (€/kcf)\t0\t0\t0\t3.53\t0\t3.53\nProduction costs per unit of production (€/boe)(c)\t\t\t\t\t\t\nTotal liquids and natural gas\t0\t4.21\t2.24\t2.81\t0\t2.81\nBitumen\t0\t0\t0\t0\t0\t0\n\tConsolidated subsidiaries\t\t\t\t\t\n\tEurope\tAfrica\tAmericas\tMiddle East\tAsia\tTotal\n2010\t\t\t\t\t\t\nNatural gas production available for sale (Mcf/d)(a)\t1603\t608\t732\t375\t1234\t4552\nProduction prices(b)\t\t\t\t\t\t\nOil (€/b)\t55.70\t56.18\t45.28\t55.83\t52.33\t55.39\nBitumen (€/b)\t0\t0\t33.19\t0\t0\t33.19\nNatural gas (€/kcf)\t5.17\t1.55\t1.83\t0.63\t5.67\t3.94\nProduction costs per unit of production (€/boe)(c)\t\t\t\t\t\t\nTotal liquids and natural gas\t6.23\t4.53\t3.29\t4.82\t2.93\t4.72\nBitumen\t0\t0\t17.49\t0\t0\t17.49\n\tEquity affiliates\t\t\t\t\t\n\tEurope\tAfrica\tAmericas\tMiddle East\tAsia\tTotal\n2010\t\t\t\t\t\t\nNatural gas production available for sale (Mcf/d)(a)\t0\t0\t0\t650\t0\t650\nProduction prices(b)\t\t\t\t\t\t\nOil (€/b)\t0\t53.96\t43.81\t57.03\t0\t54.95\nBitumen (€/b)\t0\t0\t0\t0\t0\t0\nNatural gas (€/kcf)\t0\t0\t0\t2.30\t0\t2.30\nProduction costs per unit of production (€/boe)(c)\t\t\t\t\t\t\nTotal liquids and natural gas\t0\t6.31\t2.76\t1.54\t0\t1.91\nBitumen\t0\t0\t0\t0\t0\t0\n", "q10k_tbl_225": "\tConsolidated subsidiaries\t\t\t\t\t\n\tEurope\tAfrica\tAmericas\tMiddle East\tAsia\tTotal\n2011\t\t\t\t\t\t\nNatural gas production available for sale (Mcf/d)(a)\t1350\t607\t839\t424\t1162\t4382\nProduction prices(b)\t\t\t\t\t\t\nOil (€/b)\t74.24\t74.72\t55.13\t73.73\t68.76\t73.34\nBitumen (€/b)\t0\t0\t31.36\t0\t0\t31.36\nNatural gas (€/kcf)\t6.58\t1.81\t2.06\t0.54\t7.45\t4.72\nProduction costs per unit of production (€/boe)(c)\t\t\t\t\t\t\nTotal liquids and natural gas\t6.86\t5.14\t3.41\t5.36\t3.40\t5.20\nBitumen\t0\t0\t20.70\t0\t0\t20.70\n\tEquity affiliates\t\t\t\t\t\n\tEurope\tAfrica\tAmericas\tMiddle East\tAsia\tTotal\n2011\t\t\t\t\t\t\nNatural gas production available for sale (Mcf/d)(a)\t0\t0\t0\t891\t457\t1348\nProduction prices(b)\t\t\t\t\t\t\nOil (€/b)\t0\t66.21\t61.15\t77.07\t30.75\t73.61\nBitumen (€/b)\t0\t0\t0\t0\t0\t0\nNatural gas (€/kcf)\t0\t0\t0\t1.29\t0.95\t1.23\nProduction costs per unit of production (€/boe)(c)\t\t\t\t\t\t\nTotal liquids and natural gas\t0\t1.99\t2.75\t1.66\t0.79\t1.61\nBitumen\t0\t0\t0\t0\t0\t0\n"}{"bs": "q10k_tbl_62", "is": "q10k_tbl_60", "cf": "q10k_tbl_62"}None
REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934
OR
þ
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 2011
OR
¨
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period fromto
OR
¨
SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of event requiring this shell company report
Commission file number: 1-10888
TOTAL S.A.
(Exact Name of Registrant as Specified in Its Charter)
Republic of France
(Jurisdiction of Incorporation or Organization)
2, place Jean Millier
La Défense 6
92400 Courbevoie
France
(Address of Principal Executive Offices)
Patrick de La Chevardière
Chief Financial Officer
TOTAL S.A.
2, place Jean Millier
La Défense 6
92400 Courbevoie
France
Tel: +33 (0)1 47 44 45 46
Fax: +33 (0)1 47 44 49 44
(Name, Telephone, Email and/or Facsimile number and Address of Company Contact Person)
Securities registered or to be registered pursuant to Section 12(b) of the Act.
Title of each class
Name of each exchange on which registered
Shares
American Depositary Shares
New York Stock Exchange*
New York Stock Exchange
*
Not for trading, but only in connection with the registration of American Depositary Shares, pursuant to the requirements of the Securities and Exchange Commission.
Securities registered or to be registered pursuant to Section 12(g) of the Act.
None
Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act.
None
Indicate the number of outstanding shares of each of the issuers classes of capital or common stock as of the close of the period covered by the annual report.
2,363,767,313 Shares, par value 2.50 each, as of December 31, 2011
Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes þ No ¨
If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934. Yes ¨ No þ
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes þ No ¨
Indicate by check mark whether the registrant has submitted electronically and posted on its corporate website, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).**
Yes ¨ No ¨
** This requirement is not currently applicable to the registrant.
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer. See definition of accelerated filer and large accelerated filer in Rule 12b-2 of the Exchange Act. (Check one):
Large accelerated filer þ
Accelerated filer ¨
Non-accelerated filer ¨
Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing:
U.S. GAAP ¨
International Financial Reporting Standards as issued by the International
Accounting Standards Board þ
Other ¨
If Other has been checked in response to the previous question, indicate by check mark which financial statement item the registrant has elected to follow. Item 17 ¨ Item 18 ¨
If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ¨ No þ
Financial information included in this Annual Report is presented according to International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB) and IFRS as adopted by the European Union (EU) as of December 31, 2011.
Statements Regarding Competitive Position
Unless otherwise indicated, statements made in Item 4. Information on the Company referring to TOTALs competitive position are based on the Companys estimates, and in some cases rely on a range of sources, including investment analysts reports, independent market studies and TOTALs internal assessments of market share based on publicly available information about the financial results and performance of market participants.
Additional Information
This Annual Report on Form 20-F reports information primarily regarding TOTALs business, operations and financial information relating to the fiscal year ended December 31, 2011. For more recent updates regarding TOTAL, you may inspect any reports, statements or other information TOTAL files with the United States Securities and Exchange Commission (SEC). All of TOTALs SEC filings made after December 31, 2001, are available to the public at the SEC Web site at http://www.sec.gov and from certain commercial document retrieval services. See also Item 10. Additional Information Documents on Display.
Unless the context indicates otherwise, the following terms have the meanings shown below:
acreage
The area, expressed in acres, over which TOTAL has interests in exploration or production.
ADRs
American Depositary Receipts evidencing ADSs.
ADSs
American Depositary Shares representing the shares of TOTAL S.A.
barrels
Barrels of crude oil, natural gas liquids (NGL) or bitumen.
Company
TOTAL S.A.
condensates
Condensates are a mixture of hydrocarbons that exist in a gaseous phase at original reservoir temperature and pressure, but that, when produced, exist in a liquid phase at surface temperature and pressure. Condensates are sometimes referred to as C5+.
crude oil
Crude oil is a mixture of compounds (mainly pentanes and heavier hydrocarbons) that exists in a liquid phase at original reservoir temperature and pressure and remains liquid at atmospheric pressure and ambient temperature. Crude oil or oil are sometimes used as generic terms to designate crude oil plus natural gas liquids (NGL).
Depositary
The Bank of New York Mellon.
Depositary Agreement
The depositary agreement pursuant to which ADSs are issued, a copy of which is attached as Exhibit 1 to the registration statement on Form F-6 (Reg. No. 333-172005) filed with the SEC on February 1, 2011.
Group
TOTAL S.A. and its subsidiaries and affiliates. The terms TOTAL and Group are used interchangeably.
hydrocracker
A refinery unit which uses a catalyst and extraordinarily high pressure, in the presence of surplus hydrogen, to shorten molecules.
liquids
Liquids consist of crude oil, bitumen and natural gas liquids (NGL).
LNG
Liquefied natural gas.
LPG
Liquefied petroleum gas is a mixture of hydrocarbons, the principal components of which are propane and butane, in a gaseous state at atmospheric pressure, but which is liquefied under moderate pressure and ambient temperature
NGL
Natural gas liquids consist of condensates and LPG.
oil and gas
Generic term which includes all hydrocarbons (e.g., crude oil, natural gas liquids (NGL), bitumen and natural gas).
proved reserves
Proved oil and gas reserves are those quantities of oil and gas, which, by analysis of geoscience and engineering data, can be estimated with reasonable certainty to be economically producible from a given date forward, from known reservoirs, and under existing economic conditions, operating methods, and government regulations, prior to the time at which contracts providing the right to operate expire, unless evidence indicates that renewal is reasonably certain, regardless of whether deterministic or probabilistic methods are used for the estimation. The full definition of proved reserves that we are required to follow in presenting such information in our financial results and elsewhere in reports we file with the SEC is found in Rule 4-10 of Regulation S-X under the U.S. Securities Act of 1933, as amended (including
as amended by the SEC Modernization of Oil and Gas Reporting Release No. 33-8995 of December 31, 2008).
proved developed reserves
Proved developed oil and gas reserves are proved reserves that can be expected to be recovered (i) through existing wells with existing equipment and operating methods or in which the cost of the required equipment is relatively minor compared to the cost of a new well; and (ii) through installed extraction equipment and infrastructure operational at the time of the reserves estimate if the extraction is by means not involving a well. The full definition of developed reserves that we are required to follow in presenting such information in our financial results and elsewhere in reports we file with the SEC is found in Rule 4-10 of Regulation S-X under the U.S. Securities Act of 1933, as amended (including as amended by the SEC Modernization of Oil and Gas Reporting Release No. 33-8995 of December 31, 2008).
proved undeveloped reserves
Proved undeveloped oil and gas reserves are proved reserves that are expected to be recovered from new wells on undrilled acreage, or from existing wells where a relatively major expenditure is required for recompletion. The full definition of undeveloped reserves that we are required to follow in presenting such information in our financial results and elsewhere in reports we file with the SEC is found in Rule 4-10 of Regulation S-X under the U.S. Securities Act of 1933, as amended (including as amended by the SEC Modernization of Oil and Gas Reporting Release No. 33-8995 of December 31, 2008).
steam cracker
A petrochemical plant that turns naphtha and light hydrocarbons into ethylene, propylene, and other chemical raw materials.
TOTAL
TOTAL S.A. and its subsidiaries and affiliates. We use such term interchangeably with the term Group. When we refer to the parent holding company alone, we use the term TOTAL S.A. or the Company.
trains
Facilities for converting, liquefying, storing and off-loading natural gas.
ERMI
ERMI is an indicator intended to represent the refining margin after variable costs for a theoretical complex refinery located around Rotterdam in Northern Europe that processes a mix of crude oil and other inputs commonly supplied to this region to produce and market the main refined products at prevailing prices in the region.
turnarounds
Temporary shutdowns of facilities for maintenance, overhaul and upgrading.
= approximately 7.5 b of oil (assuming a specific gravity of 37° API)
1 Mt of LNG
= approximately 48 Mcf of gas
1 Mt/y LNG
= approximately 131 Mcf/d
(a)
Natural gas is converted to barrels of oil equivalent using a ratio of cubic feet of natural gas per one barrel. This ratio is based on the actual average equivalent energy content of TOTALs natural gas reserves during the applicable periods, and is subject to change. The tabular conversion rate is applicable to TOTALs natural gas reserves on a group-wide basis.
TOTAL has made certain forward-looking statements in this document and in the documents referred to in, or incorporated by reference into, this Annual Report. Such statements are subject to risks and uncertainties. These statements are based on the beliefs and assumptions of the management of TOTAL and on the information currently available to such management. Forward-looking statements include information concerning forecasts, projections, anticipated synergies, and other information concerning possible or assumed future results of TOTAL, and may be preceded by, followed by, or otherwise include the words believes, expects, anticipates, intends, plans, targets, estimates or similar expressions.
Forward-looking statements are not assurances of results or values. They involve risks, uncertainties and assumptions. TOTALs future results and share value may differ materially from those expressed in these forward-looking statements. Many of the factors that will determine these results and values are beyond TOTALs ability to control or predict. Except for its ongoing obligations to disclose material information as required by applicable securities laws, TOTAL does not have any intention or obligation to update forward-looking statements after the distribution of this document, even if new information, future events or other circumstances have made them incorrect or misleading.
You should understand that various factors, certain of which are discussed elsewhere in this document and in the documents referred to in, or incorporated by reference into, this document, could affect the future results of TOTAL and could cause results to differ materially from those expressed in such forward-looking statements, including:
material adverse changes in general economic conditions or in the markets served by TOTAL, including changes in the prices of oil, natural gas, refined products, petrochemical products and other chemicals;
changes in currency exchange rates and currency devaluations;
the success and the economic efficiency of oil and natural gas exploration, development and production programs, including, without limitation, those that are not controlled and/or operated by TOTAL;
uncertainties about estimates of changes in proven and potential reserves and the capabilities of production facilities;
uncertainties about the ability to control unit costs in exploration, production, refining and marketing (including refining margins) and chemicals;
changes in the current capital expenditure plans of TOTAL;
the ability of TOTAL to realize anticipated cost savings, synergies and operating efficiencies;
the financial resources of competitors;
changes in laws and regulations, including tax and environmental laws and industrial safety regulations;
the quality of future opportunities that may be presented to or pursued by TOTAL;
the ability to generate cash flow or obtain financing to fund growth and the cost of such financing and liquidity conditions in the capital markets generally;
the ability to obtain governmental or regulatory approvals;
the ability to respond to challenges in international markets, including political or economic conditions (including national and international armed conflict) and trade and regulatory matters (including actual or proposed sanctions on companies that conduct business in certain countries);
the ability to complete and integrate appropriate acquisitions, strategic alliances and joint ventures;
changes in the political environment that adversely affect exploration, production licenses and contractual rights or impose minimum drilling obligations, price controls, nationalization or expropriation, and regulation of refining and marketing, chemicals and power generating activities;
the possibility that other unpredictable events such as labor disputes or industrial accidents will adversely affect the business of TOTAL; and
the risk that TOTAL will inadequately hedge the price of crude oil or finished products.
For additional factors, you should read the information set forth under Item 3. Risk Factors, Item 4. Information on the Company Other Matters, Item 5. Operating and Financial Review and Prospects and Item 11. Quantitative and Qualitative Disclosures About Market Risk.
ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS
Not applicable.
ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE
Not applicable.
ITEM 3. KEY INFORMATION
SELECTED FINANCIAL DATA
The following table presents selected consolidated financial data for TOTAL on the basis of International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB) and IFRS as adopted by the European Union for the years ended December 31, 2011, 2010, 2009, 2008 and 2007. The historical consolidated financial statements of TOTAL for these
periods, from which the financial data presented below for such periods are derived, have been audited by Ernst & Young Audit and KPMG S.A., independent registered public accounting firms, and the Companys auditors. All such data should be read in conjunction with the Consolidated Financial Statements and the Notes thereto included elsewhere herein.
Average number outstanding of common shares 2.50 par value (shares undiluted)
2,247,479,529
2,234,829,043
2,230,599,211
2,234,856,551
2,255,294,231
Average number outstanding of common shares 2.50 par value (shares diluted)
2,256,951,403
2,244,494,576
2,237,292,199
2,246,658,542
2,274,384,984
(a)
Subject to approval by the shareholders meeting on May 11, 2012.
(b)
Estimated dividend in dollars includes the first quarterly interim dividend of $0.763 paid in September 2011 and the second quarterly interim dividend of $0.742 paid in December 2011, as well as the third quarterly interim dividend of 0.57 payable in March 2012 (ADR-related payment in April 2012) and the proposed final dividend of 0.57 payable in June 2012 (ADR-related payment in July 2012), both converted at a rate of $1.40/.
(c)
The number of common shares shown has been used to calculate per share amounts.
For information regarding the effects of currency fluctuations on TOTALs results, see Item 5. Operating and Financial Review and Prospects.
Most currency amounts in this Annual Report on Form 20-F are expressed in euros (euros or ) or in U.S. dollars (dollars or $). For the convenience of the reader, this Annual Report on Form 20-F presents certain translations into dollars of certain euro amounts.
The following table sets out the average dollar/euro exchange rates expressed in dollars per 1.00 for the years indicated, based on an average of the daily European Central Bank (ECB) reference exchange rate.(1) Such rates are used by TOTAL in preparation of its Consolidated Statement of Income and Consolidated Statement of Cash Flow in its Consolidated Financial Statements. No representation is made that the euro could have been converted into dollars at the rates shown or at any other rates for such periods or at such dates.
DOLLAR/EURO EXCHANGE RATES
Year
Average Rate
2007
1.3705
2008
1.4708
2009
1.3948
2010
1.3257
2011
1.3920
The table below shows the high and low dollar/euro exchange rates for the three months ended December 31, 2011, and for the first three months of 2012, based on the daily ECB reference exchange rates published during the relevant month expressed in dollars per 1.00.
DOLLAR/EURO EXCHANGE RATES
Period
High
Low
October 2011
1.4160
1.3181
November 2011
1.3809
1.3229
December 2011
1.3511
1.2889
January 2012
1.3176
1.2669
February 2012
1.3454
1.2982
March 2012(a)
1.3312
1.3057
(a)
Through March 22, 2012.
The ECB reference exchange rate on March 22, 2012, for the dollar against the euro was $1.3167/.
(1)
For the period 2007 2011, the averages of the ECB reference exchange rates expressed in dollars per 1.00 on the last business day of each month during the relevant year are as follows: 2007 1.38; 2008 1.47; 2009 1.40; 2010 1.32; and 2011 1.40.
The Group and its businesses are subject to various risks relating to changing competitive, economic, political, legal, social, industry, business and financial conditions. These conditions, along with TOTALs approaches to managing certain of these risks, are described below and discussed in greater detail elsewhere in this Annual Report, particularly under the headings Item 4. Information on the Company Other Matters, Item 5. Operating and Financial Review and Prospects and Item 11. Quantitative and Qualitative Disclosures About Market Risk.
A substantial or extended decline in oil or natural gas prices would have a material adverse effect on our results of operations.
Prices for oil and natural gas historically have fluctuated widely due to many factors over which we have no control. These factors include:
global and regional economic and political developments in resource-producing regions, particularly in the Middle East, Africa and South America;
global and regional supply and demand;
the ability of the Organization of Petroleum Exporting Countries (OPEC) and other producing nations to influence global production levels and prices;
prices of alternative fuels which affect our realized prices under our long-term gas sales contracts;
governmental regulations and actions;
global economic and financial market conditions;
war or other conflicts;
cost and availability of new technology;
changes in demographics, including population growth rates and consumer preferences; and
adverse weather conditions (such as hurricanes) that can disrupt supplies or interrupt operations of our facilities.
Substantial or extended declines in oil and natural gas prices would adversely affect our results of operations by reducing our profits. For the year 2012, we estimate that a decrease of $1.00 per barrel in the average annual price of Brent crude would have the effect of reducing our annual adjusted net operating income from the Upstream segment by approximately 0.11 billion (calculated with a base case exchange rate of $1.40 per 1.00). In addition to the adverse effect on revenues, margins and profitability
from any fall in oil and natural gas prices, a prolonged period of low prices or other indicators could lead to reviews for impairment of the Groups oil and natural gas properties and could impact reserves. Such reviews would reflect managements view of long-term oil and natural gas prices and could result in a charge for impairment that could have a significant effect on our results of operations in the period in which it occurs. Lower oil and natural gas prices over prolonged periods may also reduce the economic viability of projects planned or in development, causing us to cancel or postpone capital expansion projects, and may reduce liquidity, thereby potentially decreasing our ability to finance capital expenditures. If we are unable to follow through with capital expansion projects, our opportunities for future revenue and profitability growth would be reduced, which could materially impact our financial condition.
However, in a high oil and gas price environment, we can experience sharp increases in cost and fiscal take, and, under some production-sharing contracts, our entitlement to reserves could be reduced. Higher prices can also reduce demand for our products.
Our long-term profitability depends on cost effective discovery, acquisition and development of new reserves; if we are unsuccessful, our results of operations and financial condition would be materially and adversely affected.
A significant portion of our revenues and the majority of our operating income are derived from the sale of oil and gas which we extract from underground reserves developed as part of our Upstream business. In order for this business to continue to be profitable, we need to replace depleted reserves with new proved reserves. Furthermore, we need to accomplish such replacement in a manner that allows subsequent production to be economically viable. However, our ability to discover or acquire and develop new reserves successfully is uncertain and can be negatively affected by a number of factors, including:
unexpected drilling conditions, including pressure or irregularities in geological formations;
the risk of dry holes or failure to find commercial quantities of hydrocarbons;
equipment failures, fires, blow-outs or accidents;
our inability to develop new technologies that permit access to previously inaccessible fields;
compliance with both anticipated and unanticipated governmental requirements;
shortages or delays in the availability or delivery of appropriate equipment;
industrial action;
competition from publicly held and state-run oil and gas companies for the acquisition of assets and licenses;
increased taxes and royalties, including retroactive claims; and
problems with legal title.
Any of these factors could lead to cost overruns and impair our ability to make discoveries and acquisitions or complete a development project, or to make production economical. If we fail to develop new reserves cost-effectively on an ongoing basis, our results of operations, including profits, and our financial condition, would be materially and adversely affected.
Our oil and gas reserve data are only estimates, and subsequent downward adjustments are possible. If actual production from such reserves is lower than current estimates indicate, our results of operations and financial condition would be negatively impacted.
Our proved reserves figures are estimates reflecting applicable reporting regulations as they may evolve. Proved reserves are those reserves which, by analysis of geosciences and engineering data, can be estimated with reasonable certainty to be economically producible from a given date forward, from known reservoirs, and under existing economic conditions, operating methods, and government regulations prior to the time at which contracts providing the right to operate expire, unless evidence indicates that renewal is reasonably certain, regardless of whether deterministic or probabilistic methods are used for the estimation. Reserves are estimated by teams of qualified, experienced and trained geoscientists, petroleum engineers and project engineers, who rigorously review and analyze in detail all available geosciences and engineering data (e.g., seismic, electrical logs, cores, fluids, pressures, flow rates, facilities parameters). This process involves making subjective judgments, including with respect to the estimate of hydrocarbons initially in place, initial production rates and recovery efficiency, based on available geological, technical and economic data. Consequently, estimates of reserves are not exact measurements and are subject to revision. In addition, they may be negatively impacted by a variety of
factors which are beyond our control and which could cause such estimates to be adjusted downward in the future, or cause our actual production to be lower than our currently reported proved reserves indicate. The main such factors include:
a decline in the price of oil or gas, making reserves no longer economically viable to exploit and therefore not classifiable as proved;
an increase in the price of oil or gas, which may reduce the reserves that we are entitled to under production sharing and risked service contracts and other contractual terms;
changes in tax rules and other government regulations that make reserves no longer economically viable to exploit; and
the actual production performance of our reservoirs.
Our reserves estimates may therefore require substantial downward revisions to the extent our subjective judgments prove not to have been conservative enough based on the available geosciences and engineering data, or our assumptions regarding factors or variables that are beyond our control prove to be incorrect over time. Any downward adjustment would indicate lower future production amounts, which could adversely affect our results of operations, including profits as well as our financial condition.
We have significant production and reserves located in politically, economically and socially unstable areas, where the likelihood of material disruption of our operations is relatively high.
A significant portion of our oil and gas production occurs in unstable regions around the world, most significantly Africa, but also the Middle East, Asia-Pacific and South America. Approximately 28%, 24%, 10% and 8%, respectively, of our 2011 combined liquids and gas production came from these four regions. In recent years, a number of the countries in these regions have experienced varying degrees of one or more of the following: economic instability, political volatility, civil war, violent conflict and social unrest. In Africa, certain of the countries in which we have production have recently suffered from some of these conditions, including Nigeria, where we had in 2011 our second highest hydrocarbon production, and Libya.
The Middle East in general has recently suffered increased political volatility in connection with violent conflict and social unrest. A number of countries in South America where we have production and other facilities, including Argentina, Bolivia and Venezuela, have suffered from political or economic instability and social unrest and related
problems. In Asia-Pacific, Indonesia has suffered some of these conditions. Any of these conditions alone or in combination could disrupt our operations in any of these regions, causing substantial declines in production. Furthermore, in addition to current production, we are also exploring for and developing new reserves in other regions of the world that are historically characterized by political, social and economic instability, such as the Caspian Sea region where we have large projects currently underway. The occurrence and magnitude of incidents related to economic, social and political instability are unpredictable. It is possible that they could have a material adverse impact on our production and operations in the future.
We are exposed to risks regarding the safety and security of our operations.
TOTAL engages in a broad scope of activities, which include drilling, oil and gas production, processing, transportation, refining and petrochemical activities, storage and distribution of petroleum products, and production of base chemical and specialty products, and involve a wide range of operational risks. Among these risks are those of explosions, fires, accidents, equipment failures or leakage of toxic products or emissions or discharges into the air, water or soil, including related environmental risks. We also face risks, once production is discontinued, because our activities require environmental site remediation. In the transportation area, the type of risk depends not only on the hazardous nature of the products transported, but also on the transportation methods used (mainly pipelines, maritime, river-maritime, rail, road), the volumes involved, and the sensitivity of the regions through which the transport passes (quality of infrastructure, population density, environmental considerations). Acts of terrorism against our plants and offices, pipelines, transportation or computer systems could severely disrupt businesses and operations and could cause harm to people.
Certain branches or activities face specific additional risks. In Exploration & Production, we face risks related to the physical characteristics of our oil or gas fields. These include the risks of eruptions of oil or of gas, discovery of hydrocarbon pockets with abnormal pressure, crumbling of well openings, leaks that can harm the environment and risks of fire or explosion. These events may cause injury or death, damage or destroy oil or gas wells as well as equipment and other property, lead to a disruption of activity or cause environmental damage. In addition, since exploration and production activities may take place on sites that are ecologically sensitive (for example, in tropical forests or in a marine environment), each site requires a
risk-based approach to avoid or minimize the impact on human health, flora and fauna, the ecosystem and biodiversity. In certain situations where TOTAL is not the operator, the Group may have reduced influence and control over third parties, which may limit its ability to manage and control these risks. TOTALs activities in the Refining & Chemicals and Supply & Marketing segments also entail additional health, safety and environmental risks related to the overall life cycle of the products manufactured, as well as raw materials used in the manufacturing process, such as catalysts, additives and monomer feedstocks. These risks can arise from the intrinsic characteristics of the products involved (flammability, toxicity, or long-term environmental impacts such as greenhouse gas emissions), their use (including by customers), emissions and discharges resulting from their manufacturing process, and from recycling or disposing of materials and wastes at the end of their useful life.
Contractual terms may provide for indemnification obligations, either by TOTAL in favor of third-parties or by third-parties for TOTALs benefit, if, notably, an event occurs leading to personal injury, death, property damage or discharge of hazardous materials into the environment. With respect to joint ventures the assets of which are operated by TOTAL, contractual terms generally provide that TOTAL assumes liability for damages caused by its gross negligence or willful misconduct. With respect to joint ventures in which TOTAL has an interest but that assets of which are operated by others, contractual terms generally provide that the operator assumes liability for damages caused by its gross negligence or willful misconduct. All other liabilities of any type of joint venture are generally assumed by the partners in proportion to their respective ownership interests. With respect to third party providers of goods and services, the amount and nature of liabilities assumed by the third party depends on the context and may be limited by contract. With respect to the Groups customers, TOTAL seeks to ensure that its products meet applicable specifications and that TOTAL abides by all applicable consumer protection laws. Failure to do so could lead to personal injury, environmental harm, regulatory violations and loss of customers, and could negatively impact our results of operations, financial condition and reputation.
While our insurance coverage is in line with industry practice, we are not insured against all possible risks.
We maintain insurance to protect us against the risk of damage to Group property and/or business disruption to our main refining and petrochemical sites. In addition, we also maintain worldwide third-party liability insurance
coverage for all of our subsidiaries. Our insurance and risk management policies are described under Item 4. Other Matters Insurance and risk management. While we believe our insurance coverage is in line with industry practice and sufficient to cover normal risks in our operations, we are not insured against all possible risks. In the event of a major environmental disaster, for example, our liability may exceed the maximum coverage provided by our third-party liability insurance. The loss we could suffer in the event of such a disaster would depend on all the facts and circumstances and would be subject to a whole range of uncertainties, including legal uncertainty as to the scope of liability for consequential damages, which may include economic damage not directly connected to the disaster. The Group cannot guarantee that it will not suffer any uninsured loss and there can be no assurance, particularly in the case of a major environmental disaster or industrial accident, that such loss would not have a material adverse effect on the Group.
We are subject to stringent environmental, health and safety laws in numerous jurisdictions around the world and may incur material costs to comply with these laws and regulations.
Our workforce and the public are exposed to risks inherent to our operations that potentially could lead to injuries, loss of life or environmental damage and could result in regulatory action, legal liability and damage to our reputation.
We incur, and expect to continue to incur, substantial capital and operating expenditures to comply with increasingly complex laws and regulations covering the protection of the natural environment and the promotion of worker health and safety, including:
costs to prevent, control, eliminate or reduce certain types of air and water emissions, including those costs incurred in connection with government action to address climate change;
remedial measures related to environmental contamination or accidents at various sites, including those owned by third parties;
compensation of persons claiming damages caused by our activities or accidents; and
costs in connection with the decommissioning of drilling platforms and other facilities.
If our established financial reserves prove inadequate, environmental costs could have a material effect on our results of operations and our financial position. Furthermore, in the countries where we operate or expect to operate in the near future, new laws and regulations, the
imposition of tougher license requirements, increasingly strict enforcement or new interpretations of existing laws and regulations or the discovery of previously unknown contamination may also cause us to incur material costs resulting from actions taken to comply with such laws and regulations, including:
modifying operations;
installing pollution control equipment;
implementing additional safety measures; and
performing site clean-ups.
As a further result of any new laws and regulations or other factors, we may also have to curtail, modify or cease certain operations or implement temporary shutdowns of facilities, which could diminish our productivity and materially and adversely impact our results of operations, including profits.
Regulatory measures designed to address climate change and physical effects attributed to climate change may adversely affect our businesses.
Growing public concerns in the EU and globally that rising greenhouse gas emissions and climate change may significantly affect the environment and society could adversely affect our businesses, including by the addition of stricter regulations that increase our operating costs, affect product sales and reduce profitability. Furthermore, our business operates in varied locales where the potential physical impacts of climate change, including changes in weather patterns, are highly uncertain and may adversely impact the results of our operations.
Our operations throughout the developing world are subject to intervention by various governments, which could have an adverse effect on our results of operations.
We have significant exploration and production, and in some cases refining, marketing or chemicals operations, in developing countries whose governmental and regulatory framework is subject to unexpected change and where the enforcement of contractual rights is uncertain. In addition, our exploration and production activity in such countries is often done in conjunction with state-owned entities, for example as part of a joint venture, where the state has a significant degree of control. In recent years, in various regions globally, we have seen governments and state-owned enterprises exercising greater authority and imposing more stringent conditions on companies pursuing exploration and production activities in their respective countries, increasing the costs and uncertainties of our business operations, which is a trend we expect to
continue. Potential increasing intervention by governments in such countries can take a wide variety of forms, including:
the award or denial of exploration and production interests;
the imposition of specific drilling obligations;
price and/or production quota controls;
nationalization or expropriation of our assets;
unilateral cancellation or modification of our license or contract rights;
increases in taxes and royalties, including retroactive claims;
the establishment of production and export limits;
the renegotiation of contracts;
payment delays; and
currency exchange restrictions or currency devaluation.
Imposition of any of these factors by a host government in a developing country where we have substantial operations, including exploration, could cause us to incur material costs or cause our production to decrease, potentially having a material adverse effect on our results of operations, including profits.
We face foreign exchange risks that could adversely affect our results of operations.
Our business faces foreign exchange risks because a large percentage of our revenues and cash receipts are denominated in dollars, the international currency of petroleum sales, while a significant portion of our operating expenses and income taxes accrue in euros and other currencies. Movements between the dollar and euro or other currencies may adversely affect our business by negatively impacting our booked revenues and income, and may also result in significant translation adjustments that impact our shareholders equity.
Ethical misconduct or breaches of applicable laws by our employees could expose us to criminal and civil penalties and be damaging to our reputation and shareholder value.
Our Code of Conduct, which applies to all of our employees, defines our commitment to integrity, compliance with all applicable legal requirements, high ethical standards and the behaviors and actions we expect of our businesses and people wherever we operate. Ethical misconduct or non-compliance with applicable laws and regulations, including non-compliance with anti-bribery, anticorruption and other applicable laws, could expose TOTAL and our employees to criminal and civil penalties
and could be damaging to our reputation and shareholder value.
Disruption of our critical IT services or breaches of information security could adversely affect our operations.
Our businesses depend heavily on the reliability and security of our information technology (IT) systems. If the integrity of our IT systems were compromised due to, for example, technical failure or cyber attack, our business operations and assets could sustain serious damage, material intellectual property could be divulged and, in some cases, personal injury, environmental harm and regulatory violations could occur.
We have activities in certain countries which are subject to U.S. and EU sanctions and our activities in Iran and Syria could lead to sanctions under relevant U.S. and EU legislation.
The United States and the European Union (EU) have adopted legal restrictions with respect to certain activities in Cuba, Iran, Sudan and Syria, and the U.S. Department of State has identified these countries as state sponsors of terrorism. We currently have investments in Iran and, to a lesser extent, Syria and Cuba.
With respect to Iran, the United States adopted legislation in 1996 implementing sanctions against non-U.S. companies doing business in Iran and Libya (the Iran and Libya Sanctions Act, referred to as ILSA), which in 2006 was amended to concern only business in Iran (then renamed the Iran Sanctions Act, referred to as ISA).
Pursuant to this statute, the President of the United States is authorized to initiate an investigation into the activities of non-U.S. companies in Iran and the possible imposition of sanctions (from a list that includes denial of financing by the U.S. Export-Import Bank, limitations on the amount of loans or credits available from U.S. financial institutions and prohibition of U.S. federal procurements from sanctioned persons) against persons found, in particular, to have knowingly made investments of $20 million or more in any 12-month period in the petroleum sector in Iran. In May 1998, the U.S. government waived the application of sanctions for TOTALs investment in the South Pars gas field. This waiver, which has not been modified since it was granted, does not address TOTALs other activities in Iran, although TOTAL has not been notified of any related sanctions.
In November 1996, the Council of the European Union adopted regulations which prohibit TOTAL from complying with any requirement or prohibition based on or resulting
directly or indirectly from certain enumerated legislation, including ILSA (now ISA). It also prohibits TOTAL from having its waiver for South Pars extended to other activities.
In each of the years since the passage of ILSA and until 2007, TOTAL made investments in Iran in excess of $20 million (excluding the investments made as part of the development of South Pars). Since 2008, TOTALs position has consisted essentially in being reimbursed for its past investments as part of buyback contracts signed between 1995 and 1999 with respect to permits on which the Group is no longer the operator. In 2011, TOTAL had no production in Iran.
ISA was amended in July 2010 by the Comprehensive Iran Sanctions, Accountability and Divestment Act of 2010 (CISADA), which expanded the scope of ISA and restricted the Presidents ability to grant waivers. In addition to sanctionable investments in Irans petroleum sector, parties may now be sanctioned for any transaction exceeding $1 million or series of transactions exceeding $5 million in any 12-month period for knowingly providing to Iran refined petroleum products, and for knowingly providing to Iran goods, services, technology, information or support that could directly and significantly either (i) facilitate the maintenance or expansion of Irans domestic production of refined petroleum products, or (ii) contribute to the enhancement of Irans ability to import refined petroleum products. The sanctions to be imposed against violating parties generally prohibit transactions in foreign exchange by the sanctioned party, prohibit any transfers of credit or payments between, by, through or to any financial institution to the extent that such transfers or payments involve any interest of the sanctioned party, and require blocking of any property of the sanctioned party that is subject to the jurisdiction of the United States. Investments in the petroleum sector commenced prior to the adoption of CISADA appear to remain subject to the pre-amended version of ISA. The new sanctions added by CISADA would be available with respect to new investments in the petroleum sector or any other sanctionable activity occurring on or after July 1, 2010. Prior to CISADAs enactment, TOTAL discontinued prohibited sales under ISA, as amended by CISADA, of refined products to Iran.
On September 30, 2010, the U.S. State Department announced that the U.S. government, pursuant to the Special Rule provision of ISA added by CISADA that allows it to avoid making a determination of sanctionability under ISA with respect to any party that provides certain assurances, would not make such a determination with respect to TOTAL. The U.S. State Department further
indicated at that time that, as long as TOTAL acts in accordance with its commitments, TOTAL will not be regarded as a company of concern for its past Iran-related activities.
On November 21, 2011, President Obama issued Executive Order 13590, which authorized sanctions that are similar to those available under ISA for knowingly, on or after November 21, 2011, selling, leasing, or providing to Iran goods, services, technology, or support that (i) has a fair market value of $1 million or more or that, during a 12-month period, has an aggregate fair market value of $5 million or more, and that could directly and significantly contribute to the maintenance or enhancement of Irans ability to develop petroleum resources located in Iran, or (ii) has a fair market value of $250,000 or more or that, during a 12-month period, has an aggregate fair market value of $1 million or more, and that could directly and significantly contribute to the maintenance or expansion of Irans domestic production of petrochemical products. TOTAL does not conduct activities in Iran that could be sanctionable under Executive Order 13590, and there is no provision in Executive Order 13590 that modifies the aforementioned Special Rule. In addition, the U.S. State Department has published guidance that states the completion of existing contracts is not sanctionable under Executive Order 13590.
France and the EU have adopted measures, based on United Nations Security Council resolutions, which restrict the movement of certain individuals and goods to or from Iran as well as certain financial transactions with Iran, in each case when such individuals, goods or transactions are related to nuclear proliferation and weapons activities or likely to contribute to their development. In July and October 2010, the European Union adopted new restrictive measures regarding Iran. Among other things, the supply of key equipment and technology in the following sectors of the oil and gas industry in Iran are prohibited: refining, liquefied natural gas, exploration and production. The prohibition extends to technical assistance, training and financial assistance in connection with such items. Extension of loans or credit to, acquisition of shares in, entry into joint ventures with or other participation in enterprises in Iran (or Iranian-owned enterprises outside of Iran) engaged in any of the targeted sectors also is prohibited. Moreover, with respect to restrictions on transfers of funds and on financial services, any transfer of at least 40,000 or equivalent to an Iranian individual or entity shall require a prior authorization of the competent authorities of the EU Member States.
On January 23, 2012, the Council of the European Union prohibited the purchase, import and transport of Iranian oil
and petroleum and petrochemical products by European persons and by entities constituted under the laws of an EU Member State. Prior to that date, TOTAL had ceased these now-prohibited activities.
TOTAL continues to closely monitor legislative and other developments in France, the EU and the United States in order to determine whether its limited activities in Iran, Syria and other sanctioned or potentially sanctioned jurisdictions could subject it to the application of sanctions. The Group cannot assure that current or future regulations or developments will not have a negative impact on its business or reputation.
With respect to Syria, the EU adopted measures in May 2011 with criminal and financial penalties that prohibit the supply of certain equipment to Syria, as well as certain financial and asset transactions with respect to a list of named individuals and entities. These measures apply to European persons and to entities constituted under the laws of an EU Member State. In September 2011, the EU adopted further measures, including, notably, a prohibition on the purchase, import or transportation from Syria of crude oil and petroleum products. Since early September 2011, the Group ceased to purchase hydrocarbons from Syria. On December 1, 2011, the EU extended sanctions against, among others, three state-owned Syrian oil firms, including General Petroleum Corporation, TOTALs co-contracting partner in PSA 1988 (Deir Es Zor licence) and the Tabiyeh contract. TOTAL has ceased its activities that contribute to oil and gas production in Syria.
The U.S. Treasury Departments Office of Foreign Assets Control (referred to as OFAC) administers and enforces broad and comprehensive economic sanctions programs, as well as sanctions that are based on the United Nations Security Council resolutions referred to above and that target individuals engaged in terrorism or weapons proliferation in Iran, using the blocking of assets and trade restrictions. The activities that are restricted depend on the sanctions program and targeted country or parties, and
civil and/or criminal penalties, imposed on a per transaction basis, can be substantial. These OFAC sanctions generally apply to U.S. persons and activities taking place in the United States or that are otherwise subject to U.S. jurisdiction. Sanctions administered by OFAC target, among others, Cuba, Iran, Myanmar (Burma), Sudan and Syria. TOTAL does not believe that these sanctions are applicable to any of its activities in the OFAC-targeted countries and, since the independence of the Republic of South Sudan on July 9, 2011, TOTAL is no longer present in Sudan.
On December 8, 2011, OFAC amended the Sudanese Sanctions Regulations with the publication of two general licenses that authorize all activities and transactions relating to the petroleum and petrochemical industries in the Republic of South Sudan and related financial transactions, and the transshipment of goods, technology and services through Sudan to or from the Republic of South Sudan and related financial transactions.
In addition, many U.S. states have adopted legislation requiring state pension funds to divest themselves of securities in any company with active business operations in Iran or Sudan, and state contracts not to be awarded to such companies. State insurance regulators have adopted similar initiatives relating to investments by insurance companies in companies doing business with the Iranian oil and gas, nuclear, and defense sectors. CISADA supports these state legislative initiatives. If TOTALs operations in Iran were determined to fall within the prohibited scope of these laws, and TOTAL were not to qualify for any available exemptions, certain U.S. institutions holding interests in TOTAL may be required to sell their interests. If significant, sales of securities resulting from such laws and/or regulatory initiatives could have an adverse effect on the prices of TOTALs securities.
For more information on TOTALs presence in Cuba, Iran, Sudan and Syria, see Item 4. Other Matters Business Activities in Cuba, Iran, Sudan and Syria.
ITEM 4. INFORMATION ON THE COMPANY
HISTORY AND DEVELOPMENT
TOTAL S.A., a French société anonyme (limited company) incorporated in France on March 28, 1924, together with its subsidiaries and affiliates, is the fifth largest publicly-traded integrated international oil and gas company in the world(1).
With operations in more than 130 countries, TOTAL has activities in every sector of the oil industry: in the upstream (oil and gas exploration, development and production, liquefied natural gas) and downstream (refining, petrochemicals, specialty chemicals, marketing and the
(1)
Based on market capitalization (in dollars) as of December 31, 2011.
trading and shipping of crude oil and petroleum products). In addition, TOTAL has equity stakes in coal mines and operates in the power generation and renewable energy sectors. TOTAL began its Upstream operations in the Middle East in 1924. Since that time, the Company has grown and expanded its operations worldwide. In early 1999, the Company acquired control of PetroFina S.A. (hereafter referred to as PetroFina or Fina) and in early 2000, the Company acquired control of Elf Aquitaine S.A. (hereafter referred to as Elf Aquitaine or Elf).
The Companys corporate name is TOTAL S.A. Its registered office is 2, place Jean Millier, La Défense 6, 92400 Courbevoie, France. Its telephone number is +33 (0)1 47 44 45 46.
TOTAL S.A. is registered in France at the Nanterre Trade Register under the registration number 542 051 180. The length of the life of the Company is 99 years from March 22, 2000, unless it is dissolved or extended prior to such date.
BUSINESS OVERVIEW
TOTALs worldwide operations in 2011 were conducted through three business segments: Upstream, Downstream, and Chemicals. The table below gives
information on the geographic breakdown of TOTALs activities and is taken from Note 5 to the Consolidated Financial Statements included elsewhere herein.
(M)
France
Rest of Europe
North America
Africa
Rest of world
Total
2011
Non-Group sales(a)
42,626
81,453
15,917
15,077
29,620
184,693
Property, plant and equipment, intangible assets, net
5,637
15,576
14,518
23,546
17,593
76,870
Capital expenditures
1,530
3,802
5,245
5,264
8,700
24,541
2010
Non-Group sales(a)
36,820
72,636
12,432
12,561
24,820
159,269
Property, plant and equipment, intangible assets, net
5,666
14,568
9,584
20,166
13,897
63,881
Capital expenditures
1,062
2,629
3,626
4,855
4,101
16,273
2009
Non-Group sales(a)
32,437
60,140
9,515
9,808
19,427
131,327
Property, plant and equipment, intangible assets, net
6,973
15,218
8,112
17,312
11,489
59,104
Capital expenditures
1,189
2,502
1,739
4,651
3,268
13,349
(a)
Non-Group sales from continuing operations.
UPSTREAM
TOTALs Upstream segment includes the Exploration & Production and Gas & Power divisions. The Group has exploration and production activities in more than forty countries and produces oil or gas in approximately thirty countries. The Groups Gas & Power division conducts
activities downstream from production related to natural gas, liquefied natural gas (LNG) and liquefied petroleum gas (LPG), as well as power generation and trading, and other activities.
Exploration & Production
Exploration and development
TOTALs Upstream segment aims at continuing to combine long-term growth and profitability at the level of the best in the industry.
TOTAL evaluates exploration opportunities based on a variety of geological, technical, political and economic factors (including taxes and license terms), and on projected oil and gas prices. Discoveries and extensions of existing fields accounted for approximately 76% of the 2,037 Mboe added to the Upstream segments proved reserves during the three-year period ended December 31,
2011 (before deducting production and sales of reserves in place and adding any acquisitions of reserves in place during this period). The remaining 24% comes from revisions of previous estimates. The level of revisions during this three year period was significantly impacted by the effect of successive increases of the reference oil price (from $36.55/b at the end of 2008 to $110.96/b in 2011 for Brent crude) which induced a substantial negative revision.
In 2011, the exploration investments of consolidated subsidiaries amounted to 1,629 million (including exploration bonuses included in the unproved property
acquisition costs). Exploration investments were made primarily in Norway, the United Kingdom, Angola, Brazil, Azerbaijan, Indonesia, Brunei, Kenya, French Guiana and Nigeria. In 2010, the exploration investments of consolidated subsidiaries amounted to 1,472 million (including exploration bonuses included in the unproved property acquisition costs). The main exploration investments were made in Angola, Norway, Brazil, the United Kingdom, the United States, Indonesia, Nigeria and Brunei. In 2009, exploration investments of consolidated subsidiaries amounted to 1,486 million (including exploration bonuses included in the unproved property acquisition costs) notably in the United States, Angola, the United Kingdom, Norway, Libya, Nigeria and the Republic of the Congo.
The Groups consolidated Exploration & Production subsidiaries development investments amounted to 10 billion in 2011, primarily in Angola, Nigeria, Norway, Kazakhstan, the United Kingdom, Australia, Canada, Gabon, Indonesia, the Republic of the Congo, the United States and Thailand. The Groups consolidated Exploration & Production subsidiaries development investments amounted to 8 billion in 2010, primarily in Angola, Nigeria, Kazakhstan, Norway, Indonesia, the Republic of the Congo, the United Kingdom, the United States, Canada, Thailand, Gabon and Australia. In 2009, development investments amounted to nearly 8 billion, predominantly in Angola, Nigeria, Norway, Kazakhstan, Indonesia, the Republic of the Congo, the United Kingdom, the United States, Gabon, Canada, Thailand, Russia and Qatar.
Reserves
The definitions used for proved, proved developed and proved undeveloped oil and gas reserves are in accordance with the United States Securities & Exchange Commission (SEC) Rule 4-10 of Regulation S-X as amended by the SEC Modernization of Oil and Gas Reporting release issued on December 31, 2008. Proved reserves are estimated using geological and engineering data to determine with reasonable certainty whether the crude oil or natural gas in known reservoirs is recoverable under existing regulatory, economic and operating conditions.
TOTALs oil and gas reserves are consolidated annually, taking into account, among other factors, levels of production, field reassessments, additional reserves from discoveries and acquisitions, disposal of reserves and other economic factors. Unless otherwise indicated, any reference to TOTALs proved reserves, proved developed reserves, proved undeveloped reserves and production reflects the Groups entire share of such reserves or such production. TOTALs worldwide proved reserves include the proved reserves of its consolidated subsidiaries as well as its
proportionate share of the proved reserves of equity affiliates. For further information concerning changes in TOTALs proved reserves for the years ended December 31, 2011, 2010 and 2009, see Supplemental Oil and Gas Information (Unaudited).
The reserves estimation process involves making subjective judgments. Consequently, estimates of reserves are not exact measurements and are subject to revision under well-established control procedures.
The reserves booking process requires, among other things:
internal peer reviews of technical evaluations to ensure that the SEC definitions and guidance are followed; and
that management makes significant funding commitments towards the development of the reserves prior to booking.
For further information regarding the preparation of reserves estimates, see Supplemental Oil and Gas Information (Unaudited).
Proved reserves
In accordance with the amended Rule 4-10 of Regulation S-X, proved reserves for the years ended on or after December 31, 2009, are calculated using a 12-month average price determined as the unweighted arithmetic average of the first-day-of-the-month price for each month of the relevant year unless prices are defined by contractual arrangements, excluding escalations based upon future conditions. The reference prices for 2011, 2010 and 2009 were, respectively, $110.96/b, $79.02/b and $59.91/b for Brent crude.
As of December 31, 2011, TOTALs combined proved reserves of oil and gas were 11,423 Mboe (53% of which were proved developed reserves). Liquids (crude oil, natural gas liquids and bitumen) represented approximately 51% of these reserves and natural gas the remaining 49%. These reserves were located in Europe (mainly in Italy, Norway and the United Kingdom), in Africa (mainly in Angola, Gabon, Libya, Nigeria and the Republic of the Congo), in the Americas (mainly in Canada, the United States, Argentina and Venezuela), in the Middle East (mainly in Qatar, the United Arab Emirates and Yemen), and in Asia (mainly in Australia, Indonesia, Kazakhstan and Russia).
As of December 31, 2010, TOTALs combined proved reserves of oil and gas were 10,695 Mboe (53% of which were proved developed reserves). Liquids (crude oil, natural gas liquids and bitumen) represented approximately 56% of these reserves and natural gas the remaining 44%. These reserves were located in Europe (mainly in Norway
and the United Kingdom), in Africa (mainly in Angola, Gabon, Libya, Nigeria and the Republic of the Congo), in the Americas (mainly in Canada, the United States, Argentina and Venezuela), in the Middle East (mainly in Qatar, the United Arab Emirates and Yemen), and in Asia (mainly in Indonesia and Kazakhstan).
As of December 31, 2009, TOTALs combined proved reserves of oil and gas were 10,483 Mboe (56% of which were proved developed reserves). Liquids (crude oil, natural gas liquids and bitumen) represented approximately 54% of these reserves and natural gas the remaining 46%. These reserves were located in Europe (mainly in Norway and the United Kingdom), in Africa (mainly in Angola, Gabon, Libya, Nigeria and the Republic of the Congo), in the Americas (mainly in Canada, the United States, Argentina and Venezuela), in the Middle East (mainly in Oman, Qatar, the United Arab Emirates and Yemen), and in Asia (mainly in Indonesia and Kazakhstan).
Sensitivity to oil and gas prices
Changes in the price used as a reference for the proved reserves estimation result in non-proportionate inverse changes in proved reserves associated with production sharing and risked service contracts (which together represent approximately 26% of TOTALs reserves as of December 31, 2011). Under such contracts, TOTAL is entitled to a portion of the production, the sale of which is meant to cover expenses incurred by the Group. As oil prices increase, fewer barrels are necessary to cover the same amount of expenses. Moreover, the number of barrels retrievable under these contracts may vary according to criteria such as cumulative production, the rate of return on investment or the income-cumulative expenses ratio. This decrease is partly offset by an extension of the duration over which fields can be produced economically. However, the increase in reserves due to extended field life resulting from higher prices is generally less than the decrease in reserves under production sharing or risked service contracts due to such higher prices. As a result, higher prices lead to a decrease in TOTALs reserves.
Furthermore, changes in the price used as a reference for the proved reserves estimation impact the volume of royalties in Canada and thus TOTALs share of proved reserves.
Production
For the full year 2011, average daily oil and gas production was 2,346 kboe/d compared to 2,378 kboe/d in 2010.
Liquids accounted for approximately 52% and natural gas accounted for approximately 48% of TOTALs combined liquids and natural gas production in 2011.
The table on the next page sets forth by geographic area TOTALs average daily production of liquids and natural gas for each of the last three years.
Consistent with industry practice, TOTAL often holds a percentage interest in its fields rather than a 100% interest, with the balance being held by joint venture partners (which may include other international oil companies, state-owned oil companies or government entities). TOTAL frequently acts as operator (the party responsible for technical production) on acreage in which it holds an interest. See the table Presentation of production activities by region on the following pages for a description of TOTALs producing assets.
As in 2010 and 2009, substantially all of the liquids production from TOTALs Upstream segment in 2011 was marketed by the Trading & Shipping division of TOTALs Downstream segment. See the table Business Overview Trading & Shipping Trading divisions supply and sales of crude oil.
The majority of TOTALs natural gas production is sold under long-term contracts. However, its North American production, and part of its production from the United Kingdom, Norway and Argentina, is sold on the spot market. The long-term contracts under which TOTAL sells its natural gas usually provide for a price related to, among other factors, average crude oil and other petroleum product prices, as well as, in some cases, a cost-of-living index. Though the price of natural gas tends to fluctuate in line with crude oil prices, a slight delay may occur before changes in crude oil prices are reflected in long-term natural gas prices. Due to the interaction between the contract price of natural gas and crude oil prices, contract prices are not usually affected by short-term market fluctuations in the spot price of natural gas.
Some of TOTALs long-term contracts, notably in Argentina, Indonesia, Nigeria, Norway, Qatar and Russia, specify the delivery of quantities of natural gas that may or may not be fixed and determinable. Such delivery commitments vary substantially, both in duration and in scope, from contract to contract throughout the world. For example, in some cases, contracts require delivery of natural gas on an as-needed basis, and, in other cases, contracts call for the delivery of varied amounts of natural gas over different periods of time. Nevertheless, TOTAL estimates the fixed and determinable quantity of gas to be delivered over the period 2012-2014 to be 4,051 Bcf. The Group expects to satisfy most of these obligations through the production of its proved reserves of natural gas, with, if needed, additional sourcing from spot market purchases. See Supplemental Oil and Gas Information (Unaudited).
The table below sets forth, by country, TOTALs producing assets, the year in which TOTALs activities commenced, the Groups interest in each asset and whether TOTAL is operator of the asset.
TOTALs producing assets as of December 31, 2011(a)
Alwyn North, Dunbar, Ellon, Grant Nuggets (100.00%)
Elgin-Franklin (EFOG 46.17%)(d)
Forvie Nord (100.00%)
Glenelg (49.47%)
Jura (100.00%)
West Franklin (EFOG 46.17%)(d)
Alba (12.65%)
Armada (12.53%)
Bruce (43.25%)
Markham unitized fields (7.35%)
ETAP (Mungo, Monan) (12.43%)
Everest (0.87%)
Keith (25.00%)
Maria (28.96%)
Otter (50.00%)
Seymour (25.00%)
Middle East
U.A.E.
1939
Abu Dhabi-Abu Al Bu Khoosh (75.00%)
Abu Dhabi offshore (13.33%)(e)
Abu Dhabi onshore (9.50%)(f)
GASCO (15.00%)
ADGAS (5.00%)
Oman
1937
Various fields onshore (Block 6) (4.00%)(g)
Mukhaizna field (Block 53) (2.00%)(h)
Qatar
1936
Al Khalij (100.00%)
North Field-Block NF Dolphin (24.50%) North Field-Block NFB (20.00%)
North Field-Qatargas 2 Train 5 (16.70%)
Syria
1988
Deir Ez Zor (Al Mazraa, Atalla North, Jafra, Marad, Qahar, Tabiyeh) (100.00%)(i)
Yemen
1987
Kharir/Atuf (Block 10) (28.57%)
Various fields onshore (Block 5) (15.00%)
(a)
The Groups interest in the local entity is approximately 100% in all cases except for Total Gabon (58.28%) and certain entities in the United Kingdom, Abu Dhabi and Oman (see notes b through h below).
(b)
TOTALs stake in the foreign consortium.
(c)
TOTALs interest in the joint venture.
(d)
TOTAL has a 46.17% indirect interest in Elgin Franklin through its interest in EFOG.
(e)
Through ADMA (equity affiliate), TOTAL has a 13.33% interest and participates in the operating company, Abu Dhabi Marine Operating Company.
(f)
Through ADPC (equity affiliate), TOTAL has a 9.50% interest and participates in the operating company, Abu Dhabi Company for Onshore Oil Operation.
(g)
TOTAL has a direct interest of 4.00% in Petroleum Development Oman LLC, operator of Block 6, in which TOTAL has an indirect interest of 4.00% via Pohol (equity affiliate). TOTAL also has a 5.54% interest in the Oman LNG facility (trains 1 and 2), and an indirect participation of 2.04% through OLNG in Qalhat LNG (train 3).
(h)
TOTAL has a direct interest of 2.00% in Block 53.
(i)
Operated by DEZPC, which is 50% owned by TOTAL and 50% owned by GPC. Following the extension of European Union sanctions against Syria on December 1, 2011, TOTAL has ceased its activities that contribute to oil and gas production in Syria. For further information on U.S. and European restrictions relevant to TOTALs activities in Syria, see Item 3. Key Information Risk Factors.
Africa
In 2011, TOTALs production in Africa was
659 kboe/d, representing 28% of the Groups overall production, compared to 756 kboe/d in 2010 and
749 kboe/d in 2009.
In Algeria, TOTALs production was 33 kboe/d in 2011, compared to 41 kboe/d in 2010 and 74 kboe/d in 2009.
This decline was due on the one hand to the termination of the Hamra contract in October 2009 and on the other hand to the divestment of TOTALs stake in CEPSA (48.83%), which was finalized in July 2011. The Groups production now comes entirely from the TFT field (Tin Fouyé Tabenkort, 35%). TOTAL also has 37.75% and 47% stakes in the Timimoun and Ahnet gas development projects respectively.
On the TFT field, plateau production was maintained at 185 kboe/d. A 3D seismic survey covering 1,380 km2 on the East and West portions of the field was completed in October 2011. The data is currently being processed and interpreted.
Launched in 2010 following approval of the development plan by the ALNAFT national agency, the basic engineering phase for the Timimoun project has been completed. Commercial gas production is scheduled to start up in 2016, with anticipated plateau production of 1.6 Bm3/y (160 Mcf/d).
Under the Ahnet project, the technical section of a development plan was submitted to the authorities in July 2011. Discussions are underway with the project partners and the authorities with regard to bringing the gas to market, with anticipated plateau production of 4 Bm3/y (400 Mcf/d).
In Angola, the Groups production was 135 kboe/d in 2011, compared to 163 kboe/d in 2010 and 191 kboe/d in 2009. Production comes mainly from Blocks 0, 14 and 17. Highlights of the period 2009 to 2011 included several discoveries on Blocks 15/06 and 17/06, and progress on the major Pazflor and CLOV projects.
Deep-offshore Block 17 (40%, operator) is TOTALs principal asset in Angola. It is composed of four major zones: Girassol, Dalia, Pazflor and CLOV.
On the Girassol hub, production from the Girassol, Jasmim and Rosa fields was 220 kb/d in 2011.
On the Dalia hub, production was nearly 240 kb/d in 2011.
Production on Pazflor, the third hub consisting of the Perpetua, Zinia, Hortensia and Acacia fields, started up in August 2011 and reached 170 kb/d at the end of 2011. The production capacity of the FPSO is 220 kb/d.
The development of CLOV, the fourth hub, started in 2010 and will result in the installation of a fourth FPSO with a capacity of 160 kb/d. Start-up of production is expected in 2014.
On Block 14 (20%), production on the Tombua-Landana field started in August 2009 and adds to production from the Benguela-Belize-Lobito-Tomboco and Kuito fields.
On ultra-deep offshore Block 32 (30%, operator), appraisal is continuing and pre-development studies for a first production zone in the central/southeastern portion of the block are underway (Kaombo project).
On Block 15/06 (15%), a first development hub including the discoveries located on the northwest portion of the block has been identified. The development plan for the hub has been submitted to the authorities.
TOTAL has operations on exploration Blocks 33 (55%, operator), 17/06 (30%, operator), 25 (35%, operator), 39 (15%) and 40 (50%, operator).
TOTAL is also developing in LNG through the Angola LNG project (13.6%), which includes a gas liquefaction plant near Soyo. The plant will be supplied in particular by the gas associated with production from Blocks 0, 14, 15, 17 and 18. Construction work is ongoing and start-up is expected in 2012.
In Cameroon, the Groups production was 3 kboe/d in 2011, compared to 9 kboe/d in 2010 and 12 kboe/d in 2009. In April 2011, TOTAL finalized the divestment of its stake in its upstream subsidiary Total E&P Cameroon, a Cameroonian company in which the Group had a 75.8% holding. Since that time, the Group no longer owns any exploration and production assets in the country.
In Côte dIvoire, TOTAL is operator of the Cl-100 exploration license, with a 60% stake. The 2,000 km2 license is located approximately 100 km southeast of Abidjan in water depths ranging from 1,500 to 3,100 m. Exploration work started with a 3D seismic survey of over 1,000 km2 at the end of 2011, which completed the 3D coverage of the entire block. Initial exploratory drilling is planned for the end of 2012.
In February 2012, TOTAL acquired interests in three ultra-deepwater exploration licenses : CI-514 (54%, operator), CI-515 (45%) and CI-516 (45%). For the two last blocks TOTAL will become the operator upon the first commercial discovery. The work program includes a 3D seismic survey of the whole acreage and one well to be drilled on each block during the initial three-year exploration period.
In Egypt, TOTAL signed a concession agreement in February 2010 and became operator of Block 4 (East El Burullus Offshore) with a 90% stake. The license, located in the Nile Basin where a number of gas discoveries have been made, covers a 4-year initial exploration period and includes a commitment to carrying out 3D seismic work and drilling exploration wells. Following the 3,374 km2 3D seismic survey shot in 2011, drilling is under preparation.
In Gabon, the Groups production was 58 kboe/d in 2011, compared to 67 kboe/d in 2010 and 71 kboe/d in 2009, due to the natural decline of fields. The Groups exploration and production activities in Gabon are mainly carried out
by Total Gabon(1), one of the Groups oldest subsidiaries in sub-Saharan Africa.
Under the Anguille field redevelopment project, the AGM N platform, from which twenty-one additional development wells are to be drilled, left the Fos-sur-Mer shipyard at the end of 2011 for Gabon. The drilling campaign is expected to start at the beginning of the second quarter of 2012.
On the deep-offshore Diaba license (Total Gabon 63.75%, operator), following the 2D seismic survey that was performed in 2008 and 2009, a 6,000 km2 3D seismic was shot in 2010. This new seismic survey has been processed and the results are currently being interpreted.
Total Gabon farmed into the onshore Mutamba-Iroru (50%), DE7 (30%) and Nziembou (20%) exploration licenses in 2010. Following negative exploratory drilling on license DE7, Total Gabon relinquished the license in 2011. Studies are underway to shoot a seismic survey on the Nziembou license and drill an exploration well on the Mutamba license in 2012.
In Kenya, TOTAL acquired in September 2011 a 40% stake in five offshore licenses in the Lamu Basin: L5, L7, L11a, L11b and L12. This transaction has been approved by the Kenyan authorities.
In Libya, the Groups production was 20 kb/d in 2011, compared to 55 kb/d in 2010 and 60 kb/d in 2009. Events in the country forced the entire industry to stop production and freeze development. Depending on the field, production was suspended from late February or early March 2011. The new EPSA IV contracts came into effect in 2010. At that time, the contract zones in which TOTAL is a partner were redefined: 15, 16 & 32 (formerly C 137, 75%(2)), 70 & 87 (formerly C 17, 75%(2)), 129 & 130 (formerly NC 115, 30%(2)) and 130 & 131 (formerly NC 186, 24%(2)).
In offshore zones 15, 16 and 32, production resumed in September 2011 and reached its former level within a few days. Exploration work is expected to restart in 2012.
In onshore zones 70 and 87, production resumed in January 2012. It will gradually be ramped back up to plateau level.
In addition, the Group expects to continue the development of the Dahra and Garian fields.
In onshore zones 129, 130 and 131, production resumed in October 2011. A return to plateau level
production is expected during 2012. The seismic campaign started before the events is expected to resume by the end of 2012.
In the onshore Murzuk Basin, following a successful appraisal well drilled on the discovery made on a portion of Block NC 191 (100%(2), operator), a development plan was submitted to the authorities in 2009. After the interruption related to the events, discussions with the authorities have resumed.
In Madagascar, TOTAL acquired in 2008 a 60% stake in the Bemolanga license (operator), to appraise the oil sand accumulations it contains. The appraisal phase did not confirm the feasibility of the mining development of the resources. However, the contract was extended by one year until June 2012 to assess the conventional exploration potential of the license.
In Mauritania, TOTAL has exploration operations on the Ta7 and Ta8 licenses (60%, operator), located in the Taoudenni Basin. In January 2012, TOTAL (90%, operator) acquired interests in two exploration licenses: Block C9 in ultra-deep offshore, and Block Ta29 onshore in the Taoudenni Basin.
On the Ta7 license, a 1,220 km 2D seismic survey was shot in 2011 and is being interpreted.
On the Ta8 license, drilling of the exploration well ended in 2010. Results from the well were disappointing.
On the C9 and Ta29 licenses, a seismic acquisition campaign is planned as the first phase of the exploration program.
In Nigeria, the Groups production was 287 kboe/d in 2011, compared to 301 kboe/d in 2010 and 235 kboe/d in 2009. TOTAL has been present in Nigeria since 1962. It operates seven production licenses (OML) out of the forty-four in which it has a stake, and two exploration licenses (OPL) out of the eight in which it has a stake. The Group is also active in LNG through Nigeria LNG and the Brass LNG project. With regard to recent changes in acreage:
In 2011, TOTAL (operator) increased its stake from 45.9% to 48.3% in Block 1 of the Joint Development Zone, administered jointly by Nigeria and São Tomé and Principe.
The divestment of 10% of the Groups stakes held through the joint venture operated by Shell Petroleum Development Company (SPDC) in Blocks OML 26 and 42 has been finalized.
(1)
Total Gabon is a Gabonese company whose shares are listed on Euronext Paris. TOTAL holds 58.28%, the Republic of Gabon holds 25% and the public float is 16.72%.
TOTAL owns 15% of the Nigeria LNG gas liquefaction plant, located on Bonny Island, with an overall LNG capacity of 22.7 Mt/y. In 2011, the plants operating rate continued to increase and reached 81%, compared to 72% in 2010 and 50% in 2009, mainly due to the increased reliability of gas deliveries from the other suppliers.
Preliminary work continued in 2011 prior to launching the Brass LNG gas liquefaction plant project (17%), which calls for the construction of two trains, each with a capacity of 5 Mt/y. Calls for tenders for the construction of the plant and loading facilities are underway.
TOTAL continues its efforts to strengthen its ability to supply gas to the LNG projects in which it owns a stake and to meet the growing domestic demand for gas:
On the OML 136 license (40%), the positive results for the Agge 3 appraisal well confirmed the development potential of the license. Development studies are underway.
As part of its joint venture with the Nigerian National Petroleum Company (NNPC), TOTAL is continuing with the project to increase the production capacity of the OML 58 license (40%, operator) from 370 Mcf/d to 550 Mcf/d of gas in 2012. A second phase of this project is expected to allow the development of other resources through these facilities.
On the OML 112/117 licenses (40%), TOTAL continued development studies in 2011 for the Ima gas field.
On the OML 102 license (40%, operator), TOTAL confirmed the launch of the Ofon phase 2 project in 2011 with the signing of the main construction contracts, with production start-up scheduled for 2014. In 2011 the Group also discovered Etisong North, located 15 km from the Ofon field, which is currently producing. This is the second exploration well on the Etisong hub after the Etisong Main discovery made in 2008. The exploration campaign is expected to continue with two additional wells in 2012.
On the OML 130 license (24%, operator), the Akpo field, which started up in March 2009, reached plateau production of 225 kboe/d in 2010. Production was limited between March and September 2011 by a technical issue on the engine of the gas reinjection compressor (liquids production of 160 kb/d instead of 190 kb/d). On this license, the Group is actively working on the Egina field, for which a development
plan has been approved by the Nigerian authorities. Calls for tender are underway and construction is expected to start in 2012.
On the OML 138 license (20%, operator), TOTAL finalized the development of the Usan offshore project (180 kb/d, production capacity) with the drilling of production wells, installation of sub-sea equipment and connection to the FPSO. Production started up in February 2012.
TOTAL also strengthened its deep offshore position with the ongoing development of the Bonga Northwest project on the OML 118 license (12.5%).
Due to the relative calm with regard to safety in the Niger Delta region in 2011, it has been possible to maintain oil production operated by the SPDC joint venture, in which TOTAL has a 10% stake, at close to 2010 levels. The SPDC joint ventures gas production was higher in 2011 as a result of the contribution of the Gbaran-Ubie project, which started up in 2010.
In Uganda, TOTAL finalized in February 2012 its farm-in for an interest of 33.33%, which covers the EA-1 and EA-2 licenses as well as the new Kanywataba license and the Kingfisher production license. All of these licenses are located in the Lake Albert region, where oil resources have already been discovered and a substantial potential remains to be explored.
TOTAL will be the operator of EA-1 and partner on the other licenses. TOTAL and its partners Tullow and CNOOC are embarking on an ambitious exploration and appraisal program from 2012 onwards. First priority will be given to the exploration of Kanywataba and EA-1 licenses west of the Nile.
In the Republic of the Congo, the Groups production was 123 kboe/d in 2011, compared to 120 kboe/d in 2010 and 106 kboe/d in 2009.
On the Moho Bilondo field (53.5%, operator), which started up in April 2008, drilling of development wells continued until 2010. The field reached plateau production of 90 kboe/d in June 2010.
Two positive appraisal wells (Bilondo Marine 2 & 3) drilled at year-end 2010 in the southern portion of the field confirmed an additional growth potential as an extension of existing facilities. Studies are underway for the development of these additional reserves.
The development of the resources in the northern portion of the field, the potential of which was bolstered by appraisal and exploration wells drilled in 2008 and 2009, is also being examined (Moho North project).
Production on Libondo (65%, operator), which is part of the Kombi-Likalala-Libondo operating license, started up in March 2011. Plateau production has reached 12 kb/d. A substantial portion of the equipment was sourced locally in Pointe-Noire through the redevelopment of a construction site that had been idle for several years.
In the Democratic Republic of the Congo, following the Presidential decree approving TOTALs entry as operator with a 60% interest in Block III of the Graben Albertine, the exploration permit was issued in January 2012 by the Minister of Hydrocarbons for a period of three years. This block is located in the Lake Albert region.
In the Republic of South Sudan, which became an independent state on July 9, 2011, TOTAL holds an interest in Block B and is preparing with state authorities the resumption of exploration activities on this block.
North America
In 2011, TOTALs production in North America was 67 kboe/d, representing 3% of the Groups overall production, compared to 65 kboe/d in 2010 and 24 kboe/d in 2009.
In Canada, TOTAL signed in December 2010 a strategic partnership with Suncor related to the Fort Hills and Joslyn mining projects and the Voyageur upgrader. The partnership was finalized in March 2011 and allows TOTAL to reorganize around two major hubs the different oil sands assets that it has acquired over the last few years: on the one hand, a Steam Assisted Gravity Drainage (SAGD) hub focused on Surmonts (50%) ongoing development and, on the other hand, a mining and upgrading hub, which includes the TOTAL-operated Joslyn (38.25%) and Suncor-operated Fort Hills (39.2%) mining projects and the Suncor-operated Voyageur upgrader (49%) project. The Group also has a 50% stake in the Northern Lights mining project (operator) and 100% of a number of oil sands leases acquired through several auction sales. In 2011, the Groups production was 11 kb/d, compared to 10 kb/d in 2010 and 8 kb/d in 2009.
On the Surmont lease, commercial production in SAGD mode of the first development phase, which started up in late 2007, is now producing around 25 kb/d of bitumen from thirty-five well pairs. The operator plans to drill additional wells in 2012 and to continue to convert the activation method on the existing wells from gas lift to electric submersible pump (ESP) in order to improve production.
In early 2010, the partners of the project decided to launch the construction of the second development
phase. The goal of production start-up from Surmont Phase 2 has been set for 2015 and overall production capacity from the field is expected to increase to 130 kb/d. In April 2011, the authorities issued a license permitting production (phases 1 and 2) of up to 136 kb/d.
The Joslyn lease is expected to be developed through mining, with a first development phase having an anticipated capacity of 100 kb/d.
The basic engineering for the Joslyn North Mine started in March 2010. To take into account changes to the project following the partnership with Suncor, the revision of the basic engineering is expected to be finalized in 2012. A decision to launch the project is planned for 2013.
Public hearings that are necessary for the project to be approved by the Canadian authorities were held in autumn 2010. The project was recommended as being in the public interest in January 2011, and approval from the Alberta authorities (Order in Council, OIC) was obtained in April 2011. The provincial authorizations from the Energy Resources Conservation Board (ERCB) and Alberta Environment were also obtained in May and September 2011, respectively. The project received federal approval (Federal OIC and approval from the Canadian Ministry of the Environment) at the end of 2011. As a result, preliminary site preparation work began in early 2012 and production is scheduled to start in 2018.
TOTAL closed in September 2010 the acquisition of UTS and its main asset: a 20% stake in the Fort Hills lease. In December 2010, as part of their partnership, TOTAL acquired from Suncor an additional 19.2% stake in the lease, thereby increasing its stake to 39.2%. Basic engineering and site preparation work are underway. Start-up of the Fort Hills mining project, which has already been approved by the relevant authorities for a first development phase with a capacity of 160 kb/d, is expected in 2016.
TOTAL had also acquired in late December 2010 a 49% stake in Suncors Voyageur upgrader project. This Voyageur upgrader project, which Suncor mothballed at year-end 2008, resumed in 2011 and is expected to start up concurrently with the Fort Hills project. As a consequence, the Group has abandoned its upgrader project in Edmonton.
In 2008, the Group closed the acquisition of Synenco, the two principal assets of which are a 60% stake in the Northern Lights project and 100% of the adjacent McClelland lease. In early 2009, the Group sold to
Sinopec, the other partner in the project, a 10% stake in the Northern Lights project and a 50% stake in the McClelland lease, reducing its equity stake in each of the assets to 50%. The Northern Lights project is expected to be developed through mining.
In the United States, the Groups production was 56 kboe/d in 2011, compared to 55 kboe/d in 2010 and 16 kboe/d in 2009.
In the Gulf of Mexico:
The deep-offshore Tahiti oil field (17%) started producing in 2009 and reached production of 135 kboe/d. Phase 2, which was launched in September 2010, comprises drilling four injection wells and two producing wells. Water injection started in February 2012. This phase should partly offset the production decline seen on wells currently in production.
Development of the first phase of the deep-offshore Chinook project (33.33%) is ongoing. The production test is scheduled to start in mid-2012 after sub-sea work carried out following an incident on one of the risers.
In 2009, TOTAL and Cobalt had signed an agreement related to the merger of their deep offshore acreage, with Cobalt operating the exploration phase. The TOTAL (40%) Cobalt (60%, operator) alliances exploratory drilling campaign was launched in 2009 and the drilling of the first three wells produced disappointing results. This campaign was disrupted due to the U.S. governments moratorium on offshore drilling operations from May to October 2010 and resumed at the beginning of 2012 with the start of drilling of the Ligurian 2 well.
In April 2010, the Group disposed of its equity stakes in the Matterhorn and Virgo operated fields.
Following the signature of an agreement in late 2009, a joint venture was set up with Chesapeake to produce shale gas in the Barnett Shale Basin, Texas. Under this joint venture, TOTAL owns 25% of Chesapeakes portfolio in the area. In 2011, approximately 300 additional wells were drilled, enabling gas production reaching 1.4 Bcf/d in 100% at the end of 2011. Engineers from TOTAL are assigned to the teams led by Chesapeake.
At the end of 2011, TOTAL signed an agreement with Chesapeake and EnerVest to enter into a joint venture. Pursuant to the agreement, TOTAL acquired a 25% share in Chesapeakes and EnerVests liquid-rich area
of the Utica shale play (Ohio). At the end of 2011, thirteen wells have been drilled across the acreage with very promising results seen from each well in terms of productivity and liquid content.
In 2009, the Group closed the acquisition of a 50% stake in American Shale Oil LLC (AMSO) to develop shale oil technology. The pilot to develop this technology is underway in Colorado.
In Mexico, TOTAL is conducting various studies with state-owned PEMEX under a general technical cooperation agreement renewed in July 2011 for a period of five years.
South America
In 2011, TOTALs production in South America was 188 kboe/d, representing 8% of the Groups overall production, compared to 179 kboe/d in 2010 and 182 kboe/d in 2009.
In Argentina, where TOTAL has been present since 1978, the Group operates 30%(1) of the countrys gas production. The Groups production was 86 kboe/d in 2011, compared to 83 kboe/d in 2010 and 80 kboe/d in 2009.
In Tierra del Fuego, the Group notably operates the Carina and Aries offshore fields (37.5%). The award of the contracts to build the offshore facilities for the development of the Vega Pleyade gas and condensates field is scheduled for 2012. The project is scheduled to start production in 2014 and should make it possible to maintain the production operated by the Group in Tierra del Fuego at around 615 Mcf/d.
In the Neuquén Basin, TOTAL started a drilling campaign in 2011 on its operated licenses in order to assess their shale gas potential. The campaign, which started on the Aguada Pichana (27.3%, operator) and San Roque (24.7%, operator) fields, will be extended subsequently to the Rincon la Ceniza and La Escalonada licenses acquired in 2010 (85%, operator) and to the four fields acquired in 2011: Aguada de Castro (42.5%, operator), Pampa de la Yeguas II (42.5%, operator), Cerro Las Minas (40%) and Cerro Partido (45%).
The connection of satellite discoveries on the edge of the main Aguada Pichana field, particularly in the Las Carceles canyons area, and the increase in compression capacity at San Roque, have extended plateau production of the mature fields in these two blocks.
In Bolivia, the Groups production, primarily gas, amounted to 25 kboe/d in 2011, compared to 20 kboe/d
(1)
Source: Argentinean Ministry of Federal Planning, Public Investment and Services Energy Secretary.
in 2010 and 2009. TOTAL has stakes in six licenses: three producing licenses San Alberto and San Antonio (15%) and Block XX Tarija Oeste (41%), and three licenses in the exploration or appraisal phase Aquio and Ipati (80%, operator) and Rio Hondo (50%).
Production started up in February 2011 on the gas and condensates Itaú field located on Block XX Tarija Oeste; it is routed to the existing facilities of the neighboring San Alberto field. A development plan for a second phase at Itaú was approved by the local authorities in June 2011. In early 2011, TOTAL decreased its stake in Block XX Tarija Oeste to 41% after divesting 34% and is no longer the operator.
In 2004, TOTAL discovered the Incahuasi gas field on the Ipati Block. Following the interpretation of the 3D seismic shot in 2008, an appraisal well was drilled on the adjacent Aquio Block and the extension of the discovery to the north was confirmed in 2011.
Due to the positive results from the well, TOTAL filed a declaration of commerciality for the Aquio and Ipati Blocks, which was approved by the local authorities in April 2011. Additional appraisal work is underway, notably with the drilling of a second well on the Ipati Block in 2012.
In 2010, TOTAL signed an agreement to dispose of 20% in the Aquio and Ipati licenses to Gazprom. Following approval of the agreement by the Bolivian authorities, TOTAL will have a 60% stake in the licenses.
In Brazil, TOTAL has equity stakes in three exploration blocks: Blocks BC-2 (41.2%) and BM-C-14 (50%) in the Campos Basin, and Block BM-S-54 (20%) in the Santos Basin.
The Xerelete field is mainly located on Block BC2, with an extension on Block BM-C-14. A unitization agreement was finalized by the partners on both blocks and submitted to the authorities for approval in April 2011.
In 2012, pending the authorities approval, TOTAL is expected to become operator of the unitized Xerelete field. After seismic reprocessing, a pre-salt prospect was found under the Xerelete discovery made in 2001 at a water depth of 2,400 m. TOTAL is planning to resume drilling activities on the block in 2012.
On Block BM-S-54, a first well was drilled in the pre-salt at the end of 2010 on the Gato do Mato structure, and a significant oil column was found. The appraisal plan approved by the authorities in October 2011 includes testing the Gato do Mato well and, if
that test is successful, drilling a second well on the structure in 2012. As the Gato do Mato structure extends beyond the boundaries of Block BM-S-54 into a free zone, a draft unitization agreement has been submitted to the authorities.
At the end of 2011, a second structure (Epitonium) identified on Block BM-S-54 was drilled. The results of the well are under analysis.
In Colombia, where TOTAL has had operations since 1973, the Groups production was 11 kboe/d in 2011, compared to 18 kboe/d in 2010 and 23 kboe/d in 2009. The decline in production in 2011 was mainly due to the divestment of TOTALs stake in CEPSA, which was finalized in July 2011.
On the Cusiana field (11.6%), production from the project to extract 6 kb/d of LPG started at the end of 2011.
Following the discovery of Huron-1 in 2009 on the Niscota (50%) exploration license and a 3D seismic survey in 2010, the first appraisal well has been underway since mid-2011. A second appraisal well is expected in 2012.
In 2011, TOTAL sold 10% of its stake in the Ocensa oil pipeline, reducing its holding to 5.2%.
In February 2012, TOTAL signed an agreement to sell TEPMA BV. This wholly-owned affiliate of TOTAL holds the working interest in the Cusiana field as well as a participation in OAM and ODC pipelines in Colombia. This transaction is subject to approval by the relevant authorities.
In French Guiana, TOTAL owns a 25% stake in the Guyane Maritime license. The license, located about 150 km off the coast, covers an area of approximately 26,000 km2 in water depths ranging from 200 to 3,000 m.
Located around 170 km northeast off Cayenne, drilling of the GM-ES-1 well on the Zaedyus prospect took place in 2011. The well was drilled at water depths of over 2,000 m and reached a vertical depth of 5,908 m below sea level. It revealed two hydrocarbon columns in gravelly reservoirs.
This discovery follows on from the shooting of a 3D seismic survey covering 2,500 km2 on the eastern zone of the Guyane Maritime license.
An extensive drilling campaign and a further 3D seismic survey are planned on the license starting in 2012.
In Trinidad & Tobago, where TOTAL has had operations since 1996, the Groups production was 12 kboe/d in 2011, compared to 3 kboe/d in 2010 and 5 kboe/d in 2009. TOTAL holds a 30% stake in the offshore Angostura
field located on Block 2C. Production started up in May 2011 on Phase 2, which corresponds to the gas reserves development phase. A drilling campaign on three wells started in mid-2011 in order to increase oil production. An exploration well was also drilled in 2011 and revealed additional gas resources.
In Venezuela, where TOTAL has had operations since 1980, the Groups production was 54 kboe/d in 2011, compared to 55 kboe/d in 2010 and 54 kboe/d in 2009. TOTAL has equity stakes in PetroCedeño (30.323%), which produces and upgrades extra heavy oil in the Orinoco Belt, in Yucal Placer (69.5%), which produces gas dedicated to the domestic market, and in the offshore exploration Block 4, located in the Plataforma Deltana (49%).
The development phase of the southern portion of the PetroCedeño field was launched in the second half of 2011.
An additional development phase on the Yucal Placer field to increase production capacity from 100 Mcf/d to 300 Mcf/d is under discussion with the authorities.
Asia-Pacific
In 2011, TOTALs production in Asia-Pacific was 231 kboe/d, representing 10% of the Groups overall production, compared to 248 kboe/d in 2010 and 251 kboe/d in 2009.
In Australia, where TOTAL has held leasehold rights since 2005, the Group owns 24% of the Ichthys project, 27.5% of the GLNG project and nine offshore exploration licenses, including four that it operates, off the northwest coast in the Browse, Vulcan and Bonaparte Basins. In 2011, the Group produced 4 kboe/d due to its stake in GLNG, compared to 1 kboe/d in 2010.
The Ichthys LNG project is aimed at the development of the Ichthys gas and condensates field, located in the Browse Basin. This development includes a floating platform designed for gas production, treatment and export, an FPSO to stabilize and export condensates, an 889 km gas pipeline and an onshore liquefaction plant located in Darwin. The project was launched in early 2012 following completion of the engineering studies, calls for tender and subcontractor selection. The LNG has already been sold under long-term contracts mainly to Asian buyers.
Production capacity is expected to be 8.4 Mt/y of LNG and nearly 1.6 Mt/y of LPG as well as a production of 100 kb/d of condensates at peak. Production start-up is expected at year-end 2016.
In late 2010, TOTAL acquired a 20% stake in the GLNG project, followed by an additional 7.5% stake in
March 2011. This integrated gas production, transport and liquefaction project is based on the development of coal gas from the Fairview, Roma, Scotia and Arcadia fields. The final investment decision was made in January 2011 and start-up is expected in 2015. LNG production is expected to eventually reach 7.2 Mt/y. The preliminary project development and engineering work are continuing. The 420 km pipeline for transporting the gas has received environmental approval. Off the coast near Gladstone, on Curtis Island, site preparations have started with civil engineering, dredging and construction of the initial jetty and the residential compound.
Following extensive seismic surveying in 2008 and interpretation of the data in 2009, a drilling campaign on two wells started in early 2011 on license WA-403 (60%, operator). As one well demonstrated the presence of hydrocarbons, additional appraisal work will take place on this block (3D seismic).
Three new exploration wells are planned for 2012/2013 on license WA-408 (100%, operator).
In Brunei, where TOTAL has been present since 1986, the Group operates the offshore Maharaja Lela Jamalulalam gas and condensates field located on Block B (37.5%). The Groups production was 13 kboe/d in 2011, compared to 14 kboe/d in 2010 and 12 kboe/d in 2009. The gas is delivered to the Brunei LNG liquefaction plant.
On Block B, the drilling campaign that started in 2009 continued in 2010 and 2011. Production on the first well started in 2010. The next two wells, which were exploratory, revealed new reserves in the southern portion of the field, for which development studies are underway. A fourth well drilled in 2011 in the southern portion of the field was connected to the production facilities at the end of the year. A ten-year extension of the mining rights period was recently granted by the Brunei government.
On deep-offshore exploration Block CA1 (54%, operator), formerly Block J, exploration operations that had been suspended since May 2003 due to a border dispute between Brunei and Malaysia resumed in September 2010. A seismic survey started before the summer of 2011 and an initial campaign of three drillings started in October 2011.
In China, the Group has had operations since 2006 on the South Sulige Block, located in the Ordos Basin in the Inner Mongolia province. Following appraisal work by TOTAL, China National Petroleum Corporation (CNPC) and TOTAL agreed in November 2010 to submit to the authorities for approval a development plan under which CNPC is the operator and provides the benefit of its experience in
developing Great Sulige. TOTAL has a 49% stake and provides support in its areas of expertise.
The authorities gave the operator permission to undertake preliminary development work in the spring of 2011. Drilling operations started and additional 3D seismic data was shot in 2011 in preparation for the upcoming drilling campaigns. Start-up of production is expected in 2012.
In Indonesia, where TOTAL has had operations since 1968, the Groups production was 158 kboe/d in 2011, compared to 178 kboe/d in 2010 and 190 kboe/d in 2009.
TOTALs operations in Indonesia are primarily concentrated on the Mahakam permit (50%, operator), which covers in particular the Peciko and Tunu gas fields. TOTAL also has a stake in the Sisi-Nubi gas field (47.9%, operator). TOTAL delivers most of its natural gas production to the Bontang LNG plant operated by the Indonesian company PT Badak. The overall capacity of the eight liquefaction trains of the Bontang plant is 22 Mt/y.
In 2011, gas production operated by TOTAL amounted to 2,227 Mcf/d. The gas operated and delivered by TOTAL accounted for nearly 80% of Bontang LNGs supply. In addition to gas production, operated condensates and oil production from the Handil and Bekapai fields amounted to 59 kb/d and 23 kb/d, respectively.
On the Mahakam permit:
In 2011, the scheduled drilling of additional wells in the main reservoir of the Tunu field continued with increasing density. The second phase of drilling development wells to discover shallow gas reservoirs has started.
On the Peciko field, Phase 7 drilling, which started in 2009, is continuing.
The development of South Mahakam, which includes the Stupa, West Stupa and East Mandu fields, is ongoing. Start-up of production is expected in early 2013.
On the Sisi-Nubi field, which began production in 2007, drilling operations continue within the framework of a second phase of development. The gas from Sisi-Nubi is produced through Tunus processing facilities.
In October 2010, TOTAL closed the acquisition of a 15% stake in the Sebuku permit, where the gas field Ruby was discovered. Development of the field, with the aim of producing 100 Mcf/d of natural gas, started in February 2011. Production start-up is scheduled for the end of 2013.
On the Southeast Mahakam exploration block (50%, operator), the first exploration well (Trekulu 1) completed at the end of 2010 produced negative results.
In May 2010, the Group acquired a 24.5% stake in two exploration blocks Arafura and Amborip VI located in the Arafura Sea. Two wells were drilled on these blocks in late 2010/early 2011. The results were negative.
In September 2011, TOTAL signed an agreement to acquire a stake in three exploration blocks located in the southern Makassar Strait (Sageri, 50%, South Sageri, 35% and Sadang, 20%). A first well was drilled on the Sageri block at the end of 2011.
In September 2011, TOTAL also signed an agreement to acquire a stake in an exploration block located in the southern Makassar Strait (South Mandar, 33%). Under the agreement, the Group acquired additional 10% stakes in the South Sageri and Sadang blocks.
In May 2011, TOTAL acquired a 100% stake in the South West Birds Head exploration block. The block is located onshore and offshore in the Salawati Basin, in the province of West Papua.
The Group signed a production sharing agreement in March 2011, for a 50% stake in a coal bed methane (CBM) field on the Kutai Timur Block in East Kalimantan province.
In the autumn of 2010, the Group signed an agreement with the consortium Nusantara Regas (Pertamina-PGN) for the delivery of 11.75 Mt of LNG over the period 2012-2022 to a re-gasification terminal located near Jakarta. The first deliveries are expected in the second quarter of 2012.
In Malaysia, TOTAL signed a production sharing agreement in 2008 with state-owned Petronas for the offshore exploration Blocks PM303 and PM324. Following the seismic studies performed in 2009 and 2010, TOTAL withdrew from offshore exploration Block PM303 in early 2011. Exploration work continued on Block PM324 (50%, operator); initial drilling in high pressure/high temperature conditions started in October 2011 and continues in 2012.
TOTAL also signed in November 2010 a new production sharing agreement with Petronas for the deep offshore exploration Block SK 317 B (85%, operator) located off the state of Sarawak. 3D seismic surveys have been carried out on the zone. The results should be available shortly.
In Myanmar, the Groups production was 15 kboe/d in 2011, compared to 14 kboe/d in 2010 and 13 kboe/d in 2009. TOTAL operates the Yadana field (31.2%), located on offshore Blocks M5 and M6, which produces gas that is delivered primarily to PTT (the Thai state-owned company) to be used in Thai power plants. The Yadana field also supplies the domestic market via a land pipeline and, since June 2010, via a sub-sea pipeline built and operated by Myanmars state-owned company MOGE.
In Thailand, the Groups production was 41 kboe/d in 2011 and 2010, compared to and 36 kboe/d in 2009. This comes from the Bongkot (33.33%) offshore gas and condensates field. PTT purchases all of the natural gas and condensates production.
On the northern portion of the Bongkot field, the 3H (three wellhead platforms) development phase came onstream in early 2011. New investments are being made to meet gas demand and maintain plateau production:
phase 3J (two well platforms) was launched in late 2010 with start-up scheduled for 2012;
phase 3K (two well platforms) was approved in September 2011 with start-up scheduled for 2013; and
the second low-pressure compressor installation phase to increase gas production was completed in the first quarter of 2012.
The southern portion of the field (Greater Bongkot South) is also being developed in several phases. This development is designed to include a processing platform, a residential platform and thirteen production platforms. Construction of the facilities started in 2009 and accelerated in 2011 with the installation of the residential and gas processing platforms in August. Production is expected to start in the spring of 2012, with a capacity of 350 Mcf/d.
In Vietnam, TOTAL holds a 35% stake in the production sharing agreement for the offshore 15-1/05 exploration block following an agreement signed in 2007 with PetroVietnam. Two oil discoveries were made on the southern portion of the block, one in November 2009 and the other in October 2010. The results from the additional wells drilled on these discoveries between November 2010 and October 2011 are being assessed.
In 2009, TOTAL and PetroVietnam signed a production sharing agreement for Blocks DBSCL-02 and DBSCL-03. The onshore blocks, located in the Mekong Delta region, are held by TOTAL (75%, operator) and PetroVietnam (25%). Based on the seismic information obtained in 2009 and 2010, the partners have decided not to continue the exploration work.
Commonwealth of Independent States (CIS)
In 2011, TOTALs production in the CIS was 119 kboe/d, representing 5% of the Groups overall production, compared to 23 kboe/d in 2010 and 24 kboe/d in 2009.
In Azerbaijan, where TOTAL has had operations since 1996, production was 14 kboe/d in 2011, compared to
13 kboe/d in 2010 and 12 kboe/d in 2009. The Groups production comes from the Shah Deniz field (10%). TOTAL also holds a 10% stake in South Caucasus Pipeline Company, owner of the South Caucasus Pipeline (SCP) gas pipeline that transports the gas produced in Shah Deniz to the Turkish and Georgian markets. TOTAL also holds a 5% stake in BTC Co., owner of the Baku-Tbilisi-Ceyhan (BTC) oil pipeline, which connects Baku and the Mediterranean Sea. In 2009, TOTAL and state-owned SOCAR signed an exploration, development and production sharing agreement for a license located on the Absheron block in the Caspian Sea. TOTAL (40%) is the operator during the exploration phase and a joint operating company will manage operations during the development phase. Drilling of an exploratory well started in early 2011. In September 2011, the well showed the existence of a substantial gas accumulation. The well will be tested in 2012.
Gas deliveries to Turkey and Georgia from the Shah Deniz field continued throughout 2011, at a lower pace for Turkey due to weaker demand than initially forecast. Conversely, SOCAR took greater quantities of gas than provided for by the agreement.
Development studies and business negotiations for the sale of additional gas needed to launch a second development phase in Shah Deniz continued in 2011. In October 2011, SOCAR and Botas, a Turkish state-owned company, signed an agreement on the sale of additional gas volumes and the transfer conditions for volumes intended for the European market. The agreement is expected to enable the start of FEED studies for this second phase in the first quarter of 2012, although some of the commercial provisions of the agreement have yet to be finalized.
In Kazakhstan, TOTAL has owned since 1992 a stake in the North Caspian license, which covers the Kashagan field in particular.
The Kashagan project is expected to be developed in several phases. The development plan for the first phase (300 kb/d) was approved in February 2004 by the Kazakh authorities, allowing work to begin on the field. The consortium continues to target first production by year-end 2012.
In October 2008, the members of the North Caspian Sea Production Sharing Agreement (NCSPSA) consortium and the Kazakh authorities signed agreements to end the disagreement that began in August 2007. Their implementation led to a reduction of TOTALs share in NCSPSA from 18.52% to 16.81%. The operating structure was reconfigured and the North Caspian Operating Company (NCOC), a joint operating company, was entrusted with the operatorship in January 2009. NCOC supervises and coordinates NCSPSAs operations.
In Russia, where TOTAL has had operations through its subsidiary since 1991, the Groups production was 105 kboe/d in 2011, compared to 10 kboe/d in 2010 and 12 kboe/d in 2009. This comes from the Kharyaga field (40%, operator) and TOTALs stake in Novatek.
In 2007, TOTAL and Gazprom signed an agreement for the first phase of development on the giant Shtokman gas and condensates field, located in the Barents Sea. Under this agreement, Shtokman Development AG (TOTAL, 25%) was created in 2008 to design, build, finance and operate this first development phase, with estimated overall production capacity of 23.7 Bm3/y (0.4 Mboe/d). Engineering studies are underway for the portion of the project that will allow the transport of gas by pipeline through the Gazprom network (offshore development, gas pipeline and onshore gas and condensates processing facilities on the Teriberka site) and for the LNG part of the project, which will allow the export of 7.5 Mt/y of LNG from a new harbor located in Teriberka, representing approximately half of the gas produced by the first development phase.
In late 2009, TOTAL closed the acquisition from Novatek of a 49% stake in Terneftegas, which holds a development and production license on the onshore Termokarstovoye field. An appraisal well was drilled in 2010. The results of this well and of the pre-project studies allowed for the final investment decision to be made at year-end 2011.
On the Kharyaga field, work related to the development plan of phase 3 is ongoing. This development plan is intended to maintain plateau production at the 30 kboe/d (in 100%) level reached in late 2009. TOTAL sold 10% of the field to state-owned Zarubezhneft in January 2010, thereby decreasing its interest to 40%.
In the autumn of 2009, TOTAL signed an agreement setting forth the principles of a partnership with KazMunaiGas (KMG) for the development of the Khvalynskoye gas and condensates field, located offshore in the Caspian Sea on the border between Kazakhstan and Russia, under Russian jurisdiction. Gas production is expected to be transported to Russia. Pursuant to this agreement, TOTAL is planning to acquire 17% of KMGs share.
In March 2011, TOTAL and the Russian listed company Novatek signed a strategic partnership agreement pursuant to which TOTAL acquired a 12.09% stake in Novatek in April 2011, with the intention of both parties for TOTAL to increase its
holding to 15% within 12 months and 19.40% within three years. In December 2011, TOTAL increased its stake in Novatek by 2% to 14.09%.
In October 2011, TOTAL and Novatek signed the final agreements for the joint development of the Yamal LNG project. With a 20% stake, TOTAL has become Novateks main international partner in the gas liquefaction project. Novatek, which will retain a 51% stake, intends to dispose of the remaining 29% to other partners. The Yamal LNG project covers the development of the South Tambey gas and condensates field, located on the Yamal Peninsula in the Arctic.
Europe
In 2011, TOTALs production in Europe was 512 kboe/d, representing 22% of the Groups overall production, compared to 580 kboe/d in 2010 and 613 kboe/d in 2009.
In Denmark, TOTAL has owned since June 2010 an 80% stake in and the operatorship for licenses 1/10 (Nordjylland) and 2/10 (Nordsjaelland, formerly Frederoskilde). These onshore licenses, the shale gas potential of which has yet to be assessed, cover areas of 3,000 km2 and 2,300 km2, respectively. Following geoscience surveys on license 1/10 in 2011, the decision was made to drill a well during the second half of 2012. Geoscience surveys are ongoing on license 2/10.
In France, the Groups production was 18 kboe/d in 2011, compared to 21 kboe/d in 2010 and 24 kboe/d in 2009. TOTALs major assets are the Lacq (100%) and Meillon (100%) gas fields, located in the southwest part of the country.
On the Lacq field, operated since 1957, a carbon capture and storage pilot was commissioned in January 2010, and carbon injection is expected to continue until 2013. In connection with this project, a boiler has been modified to operate in an oxy-fuel combustion environment and the carbon dioxide emitted is captured and re-injected in the depleted Rousse field. As part of TOTALs sustainable development policy, this project will allow the Group to assess one of the technological possibilities for reducing carbon dioxide emissions.
Agreements were signed in December 2011 for the sale of the Itteville, Vert-le-Grand, Vert-le-Petit, La Croix Blanche, Dommartin Lettrée and Vic-Bilh assets. Operatorship and production rights for these assets were transferred in January 2012.
The Montélimar exclusive exploration license, awarded to TOTAL in March 2010 (100%) to assess, in particular, the
shale gas potential of the area, was revoked by the government in October 2011. This revocation stemmed from the law of July 13, 2011, prohibiting the exploration and extraction of hydrocarbons by drilling followed by hydraulic fracturing. The Group had, however, submitted the required report to the government, in which it undertook not to use hydraulic fracturing in light of the current prohibition. An appeal has therefore been filed in December 2011 with the administrative court requesting that the judge cancel the revocation of the license.
In Italy, the Tempa Rossa field (75%, operator), discovered in 1989 and located on the unitized Gorgoglione concession (Basilicate region), is one of TOTALs principal assets in the country.
In 2011, Total Italia acquired an additional 25% in the Tempa Rossa field, bringing its stake to 75%, as well as shares in two exploration licenses.
Site preparation work started in early August 2008, but the proceedings initiated by the Prosecutor of the Potenza Court against Total Italia led to a freeze in the preparation work (for additional information, see Item 8. Financial Information Legal or arbitration proceedings Italy). New calls for tenders were launched related to certain contracts that had been cancelled. Drilling of the Gorgoglione 2 appraisal well that started in June 2010 reached its final depth, confirming the results of the other wells. It is expected to be tested in 2012. The extension plan for the Tarente refinery export system, needed for the development of the Tempa Rossa field, was submitted to the Italian authorities in May 2010 and approved at the end of 2011. Site preparation work began and start-up of production is expected in 2015 with a capacity of 55 kboe/d.
In Norway, where the Group has had operations since the mid-1960s, TOTAL has equity stakes in eighty production licenses on the Norwegian continental shelf, seventeen of which it operates. Norway is the largest single-country contributor to the Groups production, with volumes of 287 kboe/d in 2011, compared to 310 kboe/d in 2010 and 327 kboe/d in 2009.
In the Norwegian North Sea, where numerous development projects have recently been launched, the Groups production was 205 kboe/d in 2011. The most substantial contribution to production, for the most part non-operated, comes from the Greater Ekofisk Area (Ekofisk, Eldfisk, Embla, etc.).
Several projects are underway on the Greater Ekofisk Area, located in the south. The Group owns a 39.9% stake in the Ekofisk and Eldfisk
fields. The Ekofisk South and Eldfisk 2 projects were launched in June 2011 following approval of the development and operation plans by the authorities. The project relating to the construction and installation of the new Ekofisk living quarters and utilities platform is now in its second year.
On the Greater Hild Area, located in the north and in which the Group has a 51% stake (operator), the Hild development scheme was selected at the end of 2010. The development and operation plan has been submitted to the authorities in early 2012. Approval is expected in 2012, with production start-up scheduled for 2016.
A number of successful exploration and appraisal activities were carried out in the North Sea in the 2009-2011 period. These activities have led to the launch of several development projects, which are already underway or for which approval by the authorities is expected in 2012:
¡
In the central section of the North Sea, on license PL102C (40%, operator), a fast-track development project has been launched for the Atla field (formerly known as David), which was discovered in 2010. Start-up of gas production is expected in late 2012.
¡
Gas production on the Beta West field (a satellite of Sleipner, 10%), located in the central section of the North Sea, started in April 2011.
¡
In the Visund area of the Nordic North Sea on license PL120 (7.7%), the Visund South fast-track development project for the Pan/Pandora discoveries is underway. Start-up of production is expected in 2012.
¡
The Stjerne project was launched in 2011 to develop the Katla structure discovered in 2009, located on license PL104 (10%) south of Oseberg in the Nordic North Sea. Start-up of oil production is expected in 2013.
¡
The fast-track development project for the Vigdis North East structure (PL089, 5.6%), discovered in 2009 and located south of Snorre, was launched in 2011. It will also allow for enhanced hydrocarbon recovery from the nearby Vigdis East field. Start-up of oil production is expected in late 2012.
¡
A positive appraisal well was drilled in 2010 on the southern slope of the Dagny-Ermintrude structure (6.54%) north of Sleipner. Approval of the development project is expected at the end of 2012 and production is scheduled to start in late 2016.
In the Norwegian Sea, the Haltenbanken area includes the Tyrihans (23.2%), Mikkel (7.7%) and Kristin (6%) fields as well as the Åsgard (7.7%) field and its satellites Yttergryta (24.5%) and Morvin (6%). Morvin started up in August 2010 as planned, with two producing wells. In 2011, the Groups production in the Haltenbanken area was 63 kboe/d.
The partners decided to go ahead with the Åsgard sub-sea compression project, which will increase hydrocarbon recovery on the Åsgard and Mikkel fields, and the development and operation plan has been submitted to the authorities.
In 2011, TOTAL successfully drilled an exploration well on the Alve North structure on license PL127 (50%, operator) near the Norne field.
In the Barents Sea, LNG production on Snøhvit (18.4%) started in 2007. This project includes development of the Snøhvit, Albatross and Askeladd natural gas fields, as well as the construction of the associated liquefaction facilities. Due to design problems, the plant experienced reduced capacity during the start-up phase. A number of maintenance turnarounds were scheduled to address the issue and the plant is now operating at its design capacity (4.2 Mt/y). In 2011, the Groups production was 19 kboe/d.
In 2011, TOTAL drilled a positive exploration well on the Norvarg structure in the Barents Sea on license PL535 (40%, operator), which was awarded during the twentieth licensing round.
The Group improved its asset portfolio in Norway by obtaining new licenses and divesting a number of non-strategic assets:
In 2011, TOTAL obtained four new exploration licenses during licensing round APA 2010 (Awards in Predefined Areas), including one as operator. The Group also acquired in 2011 a 40% stake and the role of operator of license PL554, north of Visund. Drilling of an exploration well is expected on the license in 2012. At the beginning of 2012, during licensing round APA 2011, TOTAL obtained eight new licences, including five as operator.
In 2010, the Group divested its stake in the Valhall/Hod fields.
In June 2011, TOTAL announced that it had signed an agreement for the planned sale of its entire stake in Gassled (6.4%) and the associated entities. The sale was effective at the end of 2011.
In the Netherlands, TOTAL has had natural gas exploration and production operations since 1964 and
currently owns twenty-four offshore production licenses, including twenty that it operates, and two offshore exploration licenses, E17c (16.92%) and K1c (30%). In 2011, the Groups production was 38 kboe/d, compared to 42 kboe/d in 2010 and 45 kboe/d in 2009.
The K5CU development project (49%, operator) was launched in 2009 and production started up in early 2011. This development includes four wells supported by a platform that was installed in 2010 and connected to the K5A platform by a 15 km gas pipeline.
The K4Z development project (50%, operator) began in 2011. This development is comprised of two sub-sea wells connected to the existing production and transport facilities. Start-up of production is expected in early 2013.
In late 2010, TOTAL disposed of 18.19% of its equity stake in the NOGAT gas pipeline and decreased its stake to 5%.
In Poland, at the end of March 2011, TOTAL signed an agreement to acquire a 49% stake in the Chelm and Werbkowice exploration concessions in order to assess their shale gas potential. On the Chelm license, drilling has taken place, the well has been tested and the results from the well are being examined.
In the United Kingdom, where TOTAL has had operations since 1962, the Groups production was 169 kboe/d in 2011, compared to 207 kboe/d in 2010 and 217 kboe/d in 2009. Around 90% of this production comes from operated fields located in two major zones: the Alwyn zone in the northern North Sea, and the Elgin/Franklin zone in the Central Graben.
On the Alwyn zone, start-up of satellite fields or new reservoir compartments allowed production to be maintained. The N52 well drilled on Alwyn (100%) in a new compartment of the Statfjord reservoir came onstream in February 2010 with initial production of 15 kboe/d (gas and condensates). The N53 well was also drilled on Alwyn on the same type of reservoir in 2011 and came onstream in September 2011 with initial production of 4 kboe/d (gas and condensates).
The development project for Islay (100%), a gas and condensates discovery made in 2008 located south of Alwyn, was approved in July 2010. Development is underway and production start-up is expected in the first half of 2012 with a production capacity of 15 kboe/d.
In 2010, TOTAL signed an agreement to divest its stake in the Otter field; its holding fell from 81% to 50% in 2011 and was completely disposed of in February 2012.
In the Central Graben, the development of the Elgin (46.2%, operator) and Franklin (46.2%, operator) fields, in production since 2001, contributed substantially to the Groups presence in the United Kingdom. At the end of 2011, TOTAL acquired the remaining 22.5% of Elgin Franklin Oil & Gas (EFOG), a company through which it holds a stake in the Elgin and Franklin fields. On the Elgin field, a first infill well came onstream in October 2009 with production of 18 kboe/d. A second infill well started up in May 2010 with production of 12 kboe/d.
Following a gas leak on the Elgin field on March 25, 2012, the production on the Elgin, Franklin and West Franklin fields was stopped and the personnel of the site were evacuated. Investigations are ongoing to determine the causes and the remediation of the gas leak. The Group is actively monitoring the situation (situation as of March 26, 2012).
Additional development of West Franklin through a second phase (drilling of three additional wells and installation of a new platform connected to Elgin) was approved in November 2010. Start-up of production is expected at year-end 2013. The decision was made in 2011 to install a new well platform on the Elgin field. This new platform will be installed in parallel with the West Franklin project and will enable the drilling of new wells on the Elgin field as of 2014.
In addition to Alwyn and the Central Graben, a third area, West of Shetland, is undergoing development. TOTAL increased its equity stake to 80% in the Laggan and Tormore fields in early 2010.
The decision to develop the Laggan/Tormore fields was made in March 2010 and production is scheduled to start in 2014 with an expected capacity of 90 kboe/d. The joint development scheme selected by TOTAL and its partner includes sub-sea production facilities and off-gas treatment (gas and condensates) at a plant located near the Sullom Voe terminal in the Shetland Islands. The gas would then be exported to the Saint-Fergus terminal via a new pipeline connected to the Frigg gas pipeline (FUKA).
In 2010, the Groups stake in the P967 license (operator), which includes the Tobermory gas discovery, increased to 50% from 43.75%. This license is located north of Laggan/Tormore.
In early 2011, a gas and condensate discovery was made on the Edradour license (75%, operator), near Laggan and Tormore. The development of Edradour using the infrastructures in place is being examined.
TOTAL has stakes in ten assets operated by third parties, the most important in terms of reserves being the Bruce (43.25%) and Alba (12.65%) fields. The Group disposed of its stake in the Nelson field (11.5%) in 2010.
Middle East
In 2011, TOTALs production in the Middle East was 570 kboe/d, representing 24% of the Groups overall production, compared to 527 kboe/d in 2010 and 438 kboe/d in 2009.
In the United Arab Emirates, where TOTAL has had operations since 1939, the Groups production was 240 kboe/d in 2011, compared to 222 kboe/d in 2010 and 214 kboe/d in 2009. The increase in production in 2011 was mainly due to higher production by Abu Dhabi Company for Onshore Oil Operations (ADCO) and Abu Dhabi Marine (ADMA).
In Abu Dhabi, TOTAL holds a 75% stake in the Abu Al Bu Khoosh field (operator), a 9.5% stake in ADCO, which operates the five major onshore fields in Abu Dhabi, and a 13.3% stake in ADMA, which operates two offshore fields. TOTAL also has a 15% stake in Abu Dhabi Gas Industries (GASCO), which produces LPG and condensates from the associated gas produced by ADCO, and a 5% stake in Abu Dhabi Gas Liquefaction Company (ADGAS), which produces LNG, LPG and condensates.
In early 2009, TOTAL signed agreements for a 20-year extension of its stake in the GASCO joint venture starting on October 1, 2008.
In early 2011, TOTAL and IPIC, a government-owned entity in Abu Dhabi, signed a Memorandum of Understanding with a view to developing projects of common interest in the upstream oil and gas sectors.
The Group has a 24.5% stake in Dolphin Energy Ltd. alongside Mubadala, a company owned by the government of the Abu Dhabi Emirate, to market gas produced primarily in Qatar to the United Arab Emirates.
The Group also owns 33.33% of Ruwais Fertilizer Industries (FERTIL), which produces urea. FERTIL 2, a new project, was launched in 2009 to build a new granulated urea unit with a capacity of 3,500 t/d (1.2 Mt/y). This project is expected to allow FERTIL to more than double production so as to reach nearly 2 Mt/y in January 2013.
In Iraq, TOTAL bid in 2009 and 2010 on the three calls for tenders launched by the Iraqi Ministry of Oil. The PetroChina-led consortium that includes TOTAL (18.75%) was awarded the development and production contract for the Halfaya field during the second call for tenders held in December 2009. This field is located in the
province of Missan, north of Basra. The agreement became effective in March 2010 and the preliminary development plan was approved by the Iraqi authorities in September 2010. Development operations started with the shooting of the 3D seismic survey, drilling and the construction of surface facilities. A production level of 70 kb/d of oil is expected to be reached in 2012.
In Iran, the Groups production under buy back agreements was zero in 2011, having been 2 kb/d in 2010 and 8 kb/d in 2009. For additional information on TOTALs operations in Iran, see Other Matters Business Activities in Cuba, Iran, Sudan and Syria.
In Oman, the Groups production was 36 kboe/d in 2011, stable compared to 2010 and 2009. TOTAL produces oil mainly on Block 6 as well as on Block 53 and liquefied natural gas through its stakes in the Oman LNG (5.54%)/Qalhat LNG (2.04%(1)) liquefaction plant, which has a capacity of 10.5 Mt/y.
In Qatar, where TOTAL has had operations since 1936, the Group has equity stakes in the Al Khalij field (100%), the NFB Block (20%) in the North field, the Qatargas 1 liquefaction plant (10%), Dolphin (24.5%) and train 5 of Qatargas 2 (16.7%). The Groups production was 155 kboe/d in 2011, compared to 164 kboe/d in 2010 and 141 kboe/d in 2009.
The production contract for Dolphin, signed in 2001 with state-owned Qatar Petroleum, provides for the sale of 2 Bcf/d of gas from the North Field for a 25-year period. The gas is processed in the Dolphin plant in Ras Laffan and exported to the United Arab Emirates through a 360 km gas pipeline.
Production from train 5 of Qatargas 2, which started in September 2009, reached its full capacity (7.8 Mt/y) at year-end 2009. TOTAL has owned an equity stake in this train since 2006. In addition, TOTAL takes part of the LNG produced in compliance with the contracts signed in 2006, which provide for the purchase of 5.2 Mt/y of LNG from Qatargas 2 by the Group.
The Group also has a 10% stake in Laffan Refinery, a condensate splitter with a capacity of 146 kb/d that started up in September 2009. Finally, since May 2011 the Group has been a partner (25%) in the offshore BC exploration license.
In Syria, TOTAL is present on the Deir Ez Zor license (100%, operated by DEZPC, 50% of which is owned by TOTAL) and through the Tabiyeh contract that became effective in October 2009. The Groups production from these two assets was 53 kboe/d in 2011, compared to 39 kboe/d in 2010 and 20 kboe/d in 2009. In early December 2011, TOTAL ceased its activities that contribute to oil and gas production in Syria.
For additional information on TOTALs operations in Syria, see Other Matters Business Activities in Cuba, Iran, Sudan and Syria.
In Yemen, where TOTAL has had operations since 1987, the Groups production was 86 kboe/d in 2011, compared to 66 kboe/d in 2010 and 21 kboe/d in 2009.
TOTAL has an equity stake in the Yemen LNG project (39.62%). As part of this project, the Balhaf liquefaction plant on the southern coast of Yemen is supplied with the gas produced on Block 18, located near Marib in the center of the country, through a 320 km gas pipeline. The two liquefaction trains were commissioned in October 2009 and April 2010, respectively. The plant has a nominal capacity of 6.7 Mt/y of LNG.
TOTAL also has stakes in the countrys two oil basins, as the operator of Block 10 (Masila Basin, East Shabwa license, 28.57%) and as a partner on Block 5 (Marib Basin, Jannah license, 15%).
TOTAL owns stakes in four onshore exploration licenses: 40% in Blocks 69 and 71, 50.1% in Block 70 (operated by TOTAL since July 2010), and 36% in Block 72 (operated by TOTAL since October 2011).
In March 2012, TOTAL acquired a 40% interest in the Block 3 exploration license, which it will operate. The acquisition is subject to the approval of Yemens Ministry of Oil and Mineral Resources.
(1)
TOTALs indirect stake in Qalhat LNG through its stake in Oman LNG.