Profile: Total SA (TOT.N)
TOTAL S.A. (TOTAL), together with its subsidiaries and affiliates worldwide, is an integrated international oil and gas company. With operations in more than 130 countries, TOTAL engages in all aspects of the petroleum industry, including Upstream operations: oil and gas exploration, development and production, liquefied natural gas (LNG) and Downstream operations (refining, marketing and the trading and shipping of crude oil and petroleum products). It also produces base chemicals (petrochemicals and fertilizers) and specialty chemicals for the industrial and consumer markets. In addition, TOTAL has interests in the coal mining and power generation sectors, as well as a financial interest in Sanofi-Aventis. It is also active in solar-photovoltaic power, both in Upstream and Downstream activities. TOTAL’s worldwide operations are conducted through four business segments: Upstream, Downstream, Corporate and Chemicals. In April 2010, Jarden Corporation acquired the Mapa Spontex Baby Care and Home Care businesses of the Company. In April 2010, the Company announced that it held 100% interest in Elf Aquitaine.
In August 2008, Total E&P Canada Ltd. (Total Canada), a wholly owned subsidiary of TOTAL, had taken up approximately 94% interest in Synenco Energy Inc. In May 2008, TOTAL acquired a 50% participation in two offshore permits in the Vulcan basin, in partnership with Apache Corporation (operator, 50%), and a 100% interest in one permit in the Browse basin, north of Ichthys. The two permits AC/P 42 and AC/P 43 in the Vulcan basin cover 1,925 and 1,465 square kilometers, respectively. License WA-408P, wholly owned by Total S.A., covers 1,694 square kilometers and is located 45 kilometers north of Ichthys, in water depths ranging from 300 to 400 meters. In May 2008, TOTAL S.A. announced that its wholly owned subsidiary, Total E&P Malaysia, has signed a production sharing contract with national oil company Petronas. The contract covers Blocks PM303 and PM324, located around 100 kilometers offshore Peninsular Malaysia in 50 to 80 meters of water depth. Total E&P Malaysia will hold a 70% interest in and operate each block, alongside partner Petronas Carigali.
The Company’s Upstream segment includes Exploration & Production, and Gas & Power divisions. The Company has exploration and production activities in more than 40 countries and produces oil or gas in 30 countries. Its Gas & Power division conducts activities downstream from production related to natural gas, LNG and liquefied petroleum gas (LPG), as well as power generation and trading, and other activities. As of December 31, 2008, TOTAL’s combined proved reserves of crude oil and natural gas were 10,458 thousands of barrels of oil equivalent (Mboe) (50% of which were proved developed reserves). Liquids represented approximately 54% of these reserves and natural gas the remaining 46%. These reserves were located for the most part in Europe (Norway, the United Kingdom, The Netherlands, Italy and France), Africa (Nigeria, Angola, the Republic of Congo, Gabon, Libya, Algeria and Cameroon), Asia/Far East (Indonesia, Myanmar, Thailand and Brunei), North America (Canada and the United States), the Middle East (Qatar, United Arab Emirates, Yemen, Oman, Iran and Syria), South America (Venezuela, Argentina, Bolivia, Trinidad & Tobago and Colombia) and the Commonwealth of Independent States (CIS) (Kazakhstan, Azerbaijan and Russia).
During the year ended December 31, 2008, Liquids accounted for approximately 62% and natural gas accounted for approximately 38% of TOTAL’s combined liquids and natural gas production. The majority of TOTAL’s natural gas production is sold under long-term contracts. The Gas & Power division is focused on the optimization of the Group’s gas resources through marketing, trading, transport of natural gas and liquefied natural gas (LNG), LNG re-gasification and natural gas storage. The Gas & Power division also conducts research and development related to alternative energies as complementary energy resources to oil and gas.
The Downstream segment conducts TOTAL’s refining, marketing, trading and shipping divisions. As of December 31, 2008, the Company’s worldwide refining capacity was 2,604 thousand barrels per day (kb/d). As of December 31, 2008, TOTAL’s worldwide marketing network consisted of 16,425 retail stations, more than 50% of which are owned by the Company. In addition, TOTAL’s refineries allow the Company to produce a range of specialty products, such as lubricants, liquefied petroleum gas (LPG), jet fuel, special fluids, bitumen and petrochemical feedstock. As of December 31, 2008, TOTAL held interests in 25 refineries (including 12 that it operates), located in Europe, the United States, the French West Indies, Africa and China.
The Company’s refining capacity in Western Europe was 2,281 kb/d, during 2008, accounting for more than 85% of the Company’s overall refining capacity. It operates 11 refineries in Western Europe, and holds interests in the German refinery of Schwedt and in four Spanish refineries through its holding in CEPSA. In the United States, TOTAL operates the Port Arthur refinery in Texas, with a capacity of 174 kb/d. In Africa, TOTAL holds interests in six refineries. In China, TOTAL has held since 1997 a 22.4% interest in the WEPEC refinery, located in Dalian, in partnership with Sinochem and PetroChina.
The Trading & Shipping sector sells and markets the Company’s crude oil production; provides a supply of crude oil for its refineries, and imports and exports the appropriate petroleum products for TOTAL’s refineries to be able to adjust their production to the needs of local markets. TOTAL is a trader of crude oil and refined products. The Trading division operates on physical and derivatives markets, both organized and over the counter. The principal activity of the Shipping division is to arrange the transportation of crude oil and refined products necessary for the Company’s activities. The Shipping division provides a range of shipping services required by TOTAL to develop its activities and maintains a safety policy.
The Chemicals segment includes Base Chemicals and Specialty Chemicals divisions.
Base Chemicals encompasses the Company’s petrochemicals and fertilizers activities. Specialty Chemicals encompasses the Company’s rubber processing, resins, adhesives and electroplating activities. TOTAL’s main petrochemicals sites are located in Belgium (Antwerp, Feluy), France (Gonfreville, Carling, Lavera, Feyzin), the United States (Port Arthur, La Porte and Bayport in Texas and Carville in Louisiana), as well as in Singapore and China (Foshan). TOTAL’s Specialties division includes rubber processing (Hutchinson), resins (Cray Valley, Sartomer and Cook Composites & Polymers), adhesives (Bostik) and electroplating (Atotech). The division serves consumer and industrial markets, for which customer-oriented marketing and service, as well as innovation are key drivers. The Company markets specialty products in more than 55 countries. TOTAL produces and markets resins for adhesives, inks, paints, coatings and structural materials through three subsidiaries: Cray Valley, Sartomer, and Cook Composites & Polymers.
2 place Jean Millier, LA DEFENSE
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