Interim Results

Total S.A.
03 August 2006


           Total reports second quarter and first half 2006 results



Main results

•  Second quarter 2006 adjusted net income(1)-(2)   3.36 billion euros   +16%


                                                    4.23 billion dollars(3) +16%


                                                    1.45 euros per share    +18%


                                                    1.82 dollars per share  +18%

•  First half 2006 adjusted net income(4)           6.74 billion euros      +16%


                                                    8.28 billion dollars    +11%


                                                    2.89 euros per share    +18%


                                                   3.56 dollars per share   +13%



Recent highlights

•  Continued exploration success

  • Positive results in Algeria, Cameroon, the US Gulf of Mexico, Congo, Libya
    and Nigeria

  • New acreage in Australia, Nigeria and Indonesia

•  Entry into the Brass LNG project to accelerate the valorization of the
   Group's natural gas resources in Nigeria

•  Signature of 5.2 million tons per year of LNG purchase contracts with
   Qatargas 2 confirms Total's participation in the project

•  Agreement with Saudi Aramco to build and operate a refinery processing heavy
   crude at Jubail in Saudi Arabia

•  Start-up of the Normandy DHC project initiated

•  Successful spin-off of Arkema

•  Agreement with Santander to implement arbitration award provisions concerning
   Cepsa


Paris, August 3, 2006 --- Total's adjusted net income rose to 3,361 million
euros (M€) in the second quarter 2006, an increase of 16% compared to the second
quarter 2005. Commenting on the results, Chairman and CEO Thierry Desmarest
said:



 The petroleum industry continued to benefit from favorable market conditions in
the second quarter 2006.  Oil prices have continued to rise, driven by sustained
demand and persistent pressure on production capacity. Refining margins
recovered, reflecting mainly the strength of gasoline demand in the US. However,
the environment for the petrochemicals remained difficult due to an increase in
raw material prices.



In the first half of 2006, Total's adjusted net income rose to 8.3 billion
dollars, an increase of 11% compared to the first half of 2005, and the
profitability of the Group rose to 29% over the past twelve months. This
performance was achieved despite a decrease in hydrocarbon production that was
essentially due to the price effect on entitlement volumes, disruptions in
Nigeria and increased shutdowns for maintenance operations. The upcoming start
up of new fields, particularly the Dalia field in Angola later this year, sets
the stage for a return to production growth, which will then accelerate in 2007.



In addition to the continued success in exploration, new milestone events, such
as Total's entry into Brass LNG in Nigeria and the partnership with Saudi Aramco
to build a refinery in Jubail, have added to our confidence about the outlook
for long-term growth. Also, the spin-off of Arkema, which was achieved according
to plan, allowed us to rebalance the Group's Chemicals segment and represented
an additional and significant return of value for our shareholders.



• Key figures from the consolidated accounts of Total (5)



Under IFRS rules for discontinued operations, the historical statements of
income, with the exception of net income, have been restated to exclude the
contribution of Arkema. The impact of the restatement is summarized on page 17.


2Q06     1Q06     2Q05     2Q06  in millions of euros,                   1H06     1H05     1H06
                           vs    except earnings per share and number of                   vs
                           2Q05  shares                                                    1H05

40,909   38,103   31,609   +29%  Sales                                   79,012   61,987   +27%

 6,672   6,688    5,448    +22%  Adjusted operating income from business 13,360   10,812   +24%
                                 segments

3,369    3,240    2,836    +19%  Adjusted net operating income from      6,609    5,651    +17%
                                 business segments

2,391    2,400    1,887    +27%  =  Upstream                             4,791    3,695    +30%

  787      650      733     +7%  =  Downstream                           1,437    1,411     +2%

  191      190      216    -12%  =  Chemicals                              381      545    -30%

3,361    3,376    2,906    +16%  Adjusted net income                     6,737    5,825    +16%

 1.45     1.45     1.23    +18%  Adjusted fully-diluted earnings per      2.89     2.45    +18%
                                 share (euros)(6)

2,323.0  2,335.8  2,364.4  -2%   Fully-diluted weighted-average shares   2,329.4  2,374.5  -2%
                                 (millions)6

3,441  3,683  3,079  +12%  Net income (Group share)                        7,124    6,287 +13%


2,779  2,750  2,255  +23%  Investments                                     5,529    4,039 +37%

  624    397    377  +66%  Divestments (at selling price)                  1,021      590 +73%

4,046  4,839  2,697  +50%  Cash flow from operations                       8,885    6,734 +32%

4,678  4,287  4,546   +3%  Adjusted cash flow from operations              8,965    8,793  +2%


• Second quarter 2006 results

>  Operating income

In the second quarter 2006, the average Brent oil price rose to 69.6 $/b, an
increase of 35% compared to the second quarter 2005 and 13% compared to the
first quarter 2006. The TRCV European refining margin indicator was 38.3 $/t on
average for the quarter, a decrease of 15% compared to the second quarter 2005
but an increase of 48% compared to the first quarter 2006.

Petrochemical margins in the Atlantic Basin were at a level comparable to the
first quarter 2006 and to the second quarter 2005. However, in Asia margins
moved lower.

The euro/dollar exchange rate was 1.26 $/€ in the second quarter 2006, compared
to 1.26 $/€ in the second quarter 2005 and 1.20 $/€ in the first quarter 2006.



In this context, the adjusted operating income from the business segments
increased by 22% to 6,672 M€ in the second quarter 2006(7).



Adjusted net operating income from the business segments was 3,369 M€ compared
to 2,836 M€ in the second quarter 2005, an increase of 19%.



>  Net income

Adjusted net income increased by 16% to 3,361 M€ in the second quarter 2006 from
2,906 M€ in the second quarter 2005(8). This excludes the after-tax inventory
effect, special items, and the Group's equity share of amortization of
intangibles related to the Sanofi-Aventis merger.



The after-tax inventory effect (FIFO vs. replacement cost) had a positive impact
of 276 M€ in the second quarter 2006 compared to a positive impact of 277 M€ in
the second quarter 2005.

Special items had a negative impact on net income of 110 M€ in the second
quarter 2006 and were composed mainly of exceptional charges in Chemicals and
the equity share of special items recorded by Sanofi-Aventis. In the second
quarter 2005, special items had a negative impact on net income of 51 M€ and
were composed mainly of the equity share of special items recorded by
Sanofi-Aventis.

The Group's equity share of amortization of intangibles related to the
Sanofi-Aventis merger had a negative impact on net income of 86 M€ in the second
quarter 2006 and 53 M€ in the second quarter 2005.



Reported net income was 3,441 M€ compared to 3,079 M€ in the second quarter
2005.



The effective tax rate(9) for the Group increased to 55% in the second quarter
2006 from 53% in the second quarter 2005, mainly due to the proportionately
higher contribution to income from Upstream. The effective tax rate was 55% in
the first quarter 2006.



In the second quarter 2006, the Group bought back 20 million of its shares(10)
for 1,004 M€.



Adjusted fully-diluted earnings per share, based on 2,323.0 million
fully-diluted weighted-average shares, rose to 1.45 euros in the second quarter
2006 from 1.23 euros in the second quarter 2005, an increase of 18%, which is a
higher percentage increase than shown for the adjusted net income thanks to the
accretive effect of share buybacks.

>  Investments - divestments

Investments in the second quarter 2006 were 2,779 M€ compared to 2,255 M€ in the
second quarter 2005. Expressed in dollars, investments increased by 23% to 3.5
billion.



Divestments in the second quarter 2006 were 624 M€ and included the sale of gas
marketing assets in France as well as the reimbursement of carried investments
on Akpo in Nigeria.



>  Cash flow

Cash flow from operations increased by 50% to 4,046 M€ in the second quarter
2006 from 2,697 M€ in the second quarter 2005.

Adjusted cash flow (cash flow from operations before changes in working capital
at replacement cost) was 4,678 M€ in the second quarter 2006, an increase of 3%
compared to the second quarter 2005. The lower increase compared to the adjusted
net operating income is mainly due to effects related to the split between
current and deferred taxes.



Net cash flow(11) was 1,891 M€ compared to 819 M€ in the second quarter 2005.


• First half 2006 results

>  Operating income

Compared to the first half 2005, the oil market environment in the first half
2006 was marked by a sharp increase in oil prices (+32% for Brent to 65.7 $/b)
and a decrease in refining margins (-17% for the TRCV European refining margin
indicator to 32.0 $/t).

The environment for the Chemicals segment was generally less favorable due to
higher raw material prices.

The euro/dollar exchange rate was 1.23 $/€ compared to 1.28 $/€ in the first
half 2005.



In this context, the adjusted operating income from the business segments
increased to 13,360 M€, a 24% increase compared to the first half 2005.

Special items affecting operating income had a negative impact of 55 M€(12) in
the first half 2006 and 11 M€12 in the first half 2005.



Adjusted net operating income from the business segments increased by 17% to
6,609 M€ in the first half 2006 from 5,651 M€ in the first half 2005. The lower
percentage increase relative to the increase in operating income is a function
of the Upstream segment having a higher effective tax rate and representing a
larger proportion of the results in the first half 2006 compared to the first
half 2005.



>  Net income

Adjusted net income increased by 16% to 6,737 M€ from 5,825 M€ in the first half
2005. This excludes the after-tax inventory effect, special items, and the
Group's equity share of amortization of intangibles related to the
Sanofi-Aventis merger.



The after-tax inventory effect (FIFO vs. replacement cost) had a positive impact
of 556 M€ in the first half 2006 and 773 M€ in the first half 2005.

Special items had no impact on net income in the first half 2006 and had a
negative impact of 176 M€ in first half 200512.

The Group's equity share of amortization of intangibles related to the
Sanofi-Aventis merger had a negative impact on net income of 169 M€ in the first
half 2006 and 135 M€ in the first half 2005.



Reported net income was 7,124 M€ compared to 6,287 M€ in the first half 2005.



The effective tax rate for the Group was 55% in the first half 2006 and 52% in
the first half 2005.



In the first half 2006, the Group bought back 42 million of its shares for 2,194
M€. As of June 30, 2006 there were 2,312.9 million shares compared to 2,333.7
million shares on March 31, 2006 and 2,357.2 million shares on June 30, 2005. In
July 2006, the Group bought back 5.22 million shares(13) for 267 M€.



Adjusted fully-diluted earnings per share, based on 2,329.4 million
fully-diluted weighted-average shares, rose to 2.89 euros from 2.45 euros in the
first half 2005, an increase of 18%, which is a higher percentage increase than
shown for the adjusted net income thanks to the accretive effect of share
buybacks.




>  Investments - divestments

Investments in the first half 2006 were 5,529 M€ compared to 4,039 M€ in the
first half 2005. Expressed in dollars, investments increased by 31% to 6.8
billion.



Divestments in the first half 2006 were 1,021 M€ compared to 590 M€ in the first
half 2005 and included the sale of Upstream assets in the US and in France as
well as the reimbursement of carried investments on Akpo in Nigeria.



>  Cash flow

Cash flow from operations in the first half 2006 was 8,885 M€, an increase of
32% compared to the first half 2005.

Adjusted cash flow (cash flow from operations before changes in working capital
at replacement cost) was 8,965 M€, an increase of 2%.



Net cash flow was 4,377 M€ compared to 3,285 M€ in the first half 2005.



The net-debt-to-equity ratio was 30% on June 30, 2006 compared to 26% on March
31, 2006 and 30% on June 30, 2005(14), in line with the target range of the
Group.




• Analysis of segments results

Upstream

>  Environment - liquids and gas price realizations*
2Q06   1Q06   2Q05   2Q06                                          1H06   1H05   1H06
                     vs                                                          vs
                     2Q05                                                        1H05

69.6   61.8   51.6   +35%   Brent ($/b)                            65.7   49.6   +32%

66.2   58.8   48.0   +38%   Average liquids price ($/b)            62.4   45.9   +36%

 5.75   6.16   4.39   +31%  Average gas price ($/Mbtu)              5.96   4.40   +35%

* consolidated subsidiaries, excluding fixed margin and buy-back contracts



Total's average liquids price increased by more than the benchmark Brent price
in both the second quarter and first half comparisons, mainly due to the lower
price differential between light and heavy crude oil.

Total's average gas price benefited in the first half from the lag effect but
showed a decrease in the second quarter 2006 versus the first quarter 2006 due
to lower spot prices in the North Sea.

Between the first half 2005 and the first half 2006, the gas price increased in
all producing regions.

>  Production
2Q06    1Q06    2Q05    2Q06   Hydrocarbon production                 1H06    1H05    1H06
                        vs                                                            vs
                        2Q05                                                          1H05

2,290   2,440   2,506   -9%    Combined production (kboe/d)           2,364   2,534   -7%
1,466   1,560   1,630   -10%   =  Liquids (kb/d)                      1,513   1,643   -8%
4,501   4,795   4,797   -6%   =  Gas (Mcfd)                           4,647   4,870   -5%



Hydrocarbon production was 2,290 thousand barrels of oil equivalent per day
(kboe/d) in the second quarter 2006 compared to 2,506 kboe/d in the second
quarter 2005, a decrease of 8.6%, which is due to the following items:

•         -2.5% due to the price effect(15),

•         -1.5% due to divestments and other portfolio effects,

•         -0.5% due to the remaining effects of hurricanes in the Gulf of
                Mexico,

•         -2% due to disruptions in Nigeria,

•         -2.5% due to maintenance programs (UK North Sea and Girassol in
                Angola)

Excluding these elements, the positive impact of new field start-ups more than
offset normal declines and unscheduled maintenance in Norway.



Production decreased by 6.1% from the first quarter 2006 to the second quarter
2006, mainly due to higher maintenance (Angola, North Sea) which represented
more than half of the decline. The price effect and a full-quarter impact of the
disruptions in Nigeria and other portfolio effects account for the balance of
the decrease.


>        Results


2Q06    1Q06    2Q05    2Q06   In millions of euros                   1H06     1H05    1H06
                        vs                                                             vs
                        2Q05                                                           1H05

5,376   5,601   4,212   +28%   Adjusted operating income*             10,977   8,222   +34%

2,391   2,400   1,887   +27%   Adjusted net operating income*         4,791    3,695   +30%

  155     143     98    +58%   •Income from equity affiliates           298      215    +39%


2,209   2,081   1,638   +35%   Investments                            4,290    3,001    +43%

  502     353     262   +92%   Divestments                              855      390   +119%

                               at selling price
 3,371   3,831   2,731   +23%  Cash flow                               7,202   4,919   +46%


* detail of adjustment items shown in business segment information



Adjusted net operating income for the Upstream segment increased by 27% to 2,391
 M€ in the second quarter 2006 from 1,887 M€ in the second quarter 2005.



This increase reflects the benefit of higher oil and gas prices, which was
slightly offset by a decrease in production volumes and an increase in costs.

Income from equity affiliates increased mainly due to the stronger oil market
environment and in particular includes the growing contribution from trains 4
and 5 at Nigeria LNG.



The average Upstream tax rate increased to 60% in the second quarter 2006 from
59% in the second quarter 2005, essentially due to higher oil and gas prices.
The rate remained stable in the first and second quarters of 2006.



Effective in the third quarter 2006, the UK will increase petroleum taxes
retroactively to January 1, 2006, following the recent vote at the Parliament.
In addition to the effect on third quarter operations, there will be a charge of
approximately 150 M€ related to the first half of 2006, and there will be a
special charge of approximately 100 M€ to adjust past deferred taxes.

The ongoing impact of the tax change on the Upstream segment will be an increase
in the average tax rate in the range of 1.5%.



Adjusted net operating income for the Upstream segment increased by 30% to 4,791
 M€ in the first half 2006 from 3,695 M€ in the first half 2005.

Expressed in dollars, adjusted net operating income for the Upstream segment
increased by 1.1 B$. The positive impact of the improvement in the oil and gas
environment, estimated at approximately 1.6 B$, was partially offset by negative
impacts estimated at 0.2 B$ for lower volumes, 0.1 B$ for portfolio effects, and
0.2 B$ for other elements including higher costs.



The return on average capital employed (ROACE(16)) for the Upstream segment for
the twelve months ended June 30, 2006 was 43% compared to 36% for the twelve
months ended June 30, 2005 and 40% for the full year 2005.



Downstream

>  Refinery throughput
2Q06   1Q06    2Q05    2Q06  Refinery throughput (kb/d)                 1H06   1H05    1H06
                       vs                                                              vs
                       2Q05                                                            1H05

2,432  2,421   2,219   +10%  Total refinery throughput*                 2,429  2,420   -

  888    899     831    +7%   =  France                                   894    939   -5%

1,214  1,217   1,055   +15%   =  Rest of Europe*                        1,216  1,152   +6%

  330    305     333    -1%   =  Rest of world                            319    329   -3%

* includes share of Cepsa



The refinery utilization rate was 86% in the second quarter 2006 compared to 82%
in the second quarter 2005 and 86% in the first quarter 2006.

The second quarter 2005 utilization rate reflected a large program of
turnarounds.

The utilization rate in the second quarter 2006 was affected by the completion
of a turnaround at the Provence refinery.



>  Results
2Q06   1Q06   2Q05   2Q06  In millions of euros                       1H06   1H05   1H06
                     vs    (except the TRCV refining margin index)                  vs
                     2Q05                                                           1H05

 38.3  25.8    45.0   -15%  TRCV - European refining                   32.0   38.4   -17%
                           margin indicator ($/t)


1,036   856     944   +10%  Adjusted operating income *               1,892  1,835    +3%

  787   650     733    +7%  Adjusted net operating income *           1,437  1,411    +2%

   81    61**    68   +19%  •Income from equity affiliates              142    140    +1%

  368   321     359    +3%   Investments                                689    576   +20%

   50    13      58   -14%  Divestments                                  63    103   -39%
                             at selling price

  984 1,201     (70)   ns   Cash flow                                 2,185  1,619   +35%

1,087   831     976   +11%  Adjusted cash flow                        1,918  1,724   +11%


* detail of adjustment items shown in business segment information

** disparity of (19) M€ compared to previous publication due to the inventory
effect on Cepsa



Adjusted net operating income for the Downstream segment was 787 M€ compared to
733 M€ in the second quarter 2005, an increase of 7%.

The increase reflects the stronger refining environment in the US and the
benefits of higher throughput and productivity programs, all of which was
partially offset by a slightly less favorable refining environment in Europe.



Adjusted net operating income for the Downstream segment in the first half 2006
was 1,437 M€ compared to 1,411 M€ in the first half 2005, an increase of 2%.

Expressed in dollars, the adjusted net operating income for the Downstream
segment was stable, with the impact of slightly less favorable market conditions
being offset by the benefits of growth and productivity.



The ROACE for the Downstream segment for the twelve months ended June 30, 2006
was 28% compared to 30% for the twelve months ended June 30, 2005 and 28% for
the full year 2005.


Chemicals

>  Results

Under IFRS rules for discontinued operations, the historical statements on
income, with the exception of net income, have been restated to exclude the
contribution of Arkema. The impact of the restatement is summarized on page 17.


2Q06   1Q06   2Q05   2Q06  In millions of euros                       1H06   1H05   1H06 vs
                     vs                                                             1H05
                     2Q05

4,965  4,689  4,272  +16%  Sales                                      9,654  8,429  +15%

3,122  2,863  2,615  +19%  =  Base chemicals                          5,985  5,202  +15%

1,843  1,826  1,659  +11%  =  Specialties                             3,669  3,227  +14%


260    231    292    -11%  Adjusted operating income*                 491    755    -35%

191    190    216    -12%  Adjusted net operating income*             381    545    -30%

 85     78    114   -25%  •   Base chemicals                          163    368    -56%

109    103    103    +6%  •   Specialties                             212    173    +23%

176    324     245    -28%  Investments                               500     403   +24%

67     28      8      x8,4  Divestments                                95      30  +217%
                            at selling price

 (7)    (37)    205    ns   Cash flow                                 (44)    287   ns

 255     305    350   -27%  Adjusted cash flow                         560    894  -37%


* detail of adjustment items shown in business segment information


Sales for the Chemicals segment increased by 16% to 4,965 M€ in the second
quarter 2006 from 4,272 M€ in the second quarter 2005.


Adjusted net operating income for the Chemicals segment was 191 M€, a decrease
of 12% compared to the second quarter 2005.

In a context of high raw material prices, petrochemical margins were comparable
to the level of the second quarter 2005 in the Atlantic basin, but margins were
substantially lower in Asia.

In addition, maintenance on crackers in the Atlantic basin reduced the
utilization rate.



Specialties continue to benefit from global economic growth and show a
significant increase in their results.



Adjusted net operating income for the Chemicals segment in the first half 2006
was 381 M€ compared to 545 M€ in the first half 2005, a decrease of 30%.

Expressed in dollars, the adjusted net operating income for the Chemicals
segment decreased by 0.2 B$, mainly due to the impact of lower petrochemical
margins.



After restating historical figures to exclude the contribution of Arkema(17),
the ROACE for the Chemicals segment for the twelve months ended June 30, 2006
was 11% compared to 15% for the twelve months ended June 30, 2005 and 15% for
the full year 2005.




• Cancellation of outstanding shares

The Board of Directors met on July 18, 2006 and approved the cancellation of
47,020,000 shares. The share capital has been adjusted to 6,062,233,950 euros
represented by 2,424,893,580 shares with a par value of 2.5 €.

• Total S.A. accounts

The parent company, Total S.A., reported net income of 2,593 M€ in the first
half 2006 compared to 2,444 M€ in the first half 2005.

• Summary and Outlook

For the twelve months ended June 30, 2006, the ROACE was 29% at the Group level
and 33% at the level of the business segments compared to 28% and 30%
respectively for the twelve months ended June 30, 2005(18).



The return on equity for the twelve months ended June 30, 2006 was 36%.



In line with its objectives, the Group maintains its net-debt-to-equity ratio
around 25% to 30%.



Since the beginning of the third quarter 2006, oil prices have remained at very
high levels and refining margins settled close to the level of the first half
2006.



The outlook for sustained growth in the coming years and over the longer term
has been strengthened by projects under development which are progressing as
planned, continued exploration success and the favorable pace of negotiations to
gain access to new major projects.





To listen to the conference call with CFO Robert Castaigne and financial
analysts today at 15:30 (Paris time), 14:30 (UK time) please call [phone]
0125 in Europe or [phone] in the US (access code : Total) or log on to
the company website www.total.com. For a replay, dial [phone] in
Europe or 1 954 334 0342 (code : 705 990).





The June 30, 2006 notes to the consolidated accounts are available on the Total
web site (www.total.com). This document may contain forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of 1995 with
respect to the financial condition, results of operations, business, strategy
and plans of Total. Such statements are based on a number of assumptions that
could ultimately prove inaccurate, and are subject to a number of risk factors,
including currency fluctuations, the price of petroleum products, the ability to
realize cost reductions and operating efficiencies without unduly disrupting
business operations, environmental regulatory considerations and general
economic and business conditions. Total does not assume any obligation to update
publicly any forward-looking statement, whether as a result of new information,
future events or otherwise. Further information on factors which could affect
the company's financial results is provided in documents filed by the Group and
its affiliates with the French Autorite des Marches Financiers and the US
Securities and Exchange Commission.



The business segment information is presented in accordance with the Group
internal reporting system used by the Chief operating decision maker to measure
performance and allocate resources internally. Due to their particular nature or
significance, certain transactions qualified as 'special items' are excluded
from the business segment figures. In general, special items relate to
transactions that are significant, infrequent or unusual. However, in certain
instances, certain transactions such as restructuring costs or assets disposals,
which are not considered to be representative of normal course of business, may
be qualified as special items although they may have occurred within prior years
or are likely to recur within following years.

In accordance with IAS 2, the Group values inventories of crude oil and
petroleum products in the financial statements in accordance with the FIFO
(First in, First out) method and other inventories using the weighted-average
cost method. However, in the note setting forth information by business segment,
the Group continues to present the results for the Downstream segment according
to the replacement cost method and those of the Chemicals segment according to
the LIFO (Last in, First out) method in order to ensure the comparability of the
Group's results with those of its main competitors, notably from North America.
The inventory valuation effect is the difference between the results according
to the FIFO method and the results according to the replacement cost or LIFO
method.

In this framework, performance measures such as adjusted operating income,
adjusted net operating income and adjusted net income are defined as incomes
using replacement cost, adjusted for special items and excluding Total's equity
share of the amortization of intangibles related to the Sanofi-Aventis merger.
They are meant to facilitate the analysis of the financial performance and the
comparison of income between periods.


   Operating information by segment      Second quarter and first half 2006



• Upstream


2Q06    1Q06    2Q05    2Q06  Combined liquids and gas production by      1H06    1H05    1H06
                        vs    region (kboe/d)                                             vs
                        2Q05                                                              1H05

708     778     793     -11%  Europe                                      743     812     -8%

692     742     790     -12%  Africa                                      717     797     -10%

  7      13      57     -88%  North America                                10      47     -79%

250     253     234     +7%   Far East                                    251     245      +2%

402     411     380     +6%   Middle East                                 406     387      +5%

225     236     243     -7%   South America                               230     237      -3%

  6       7       9    -33%  Rest of world                                  7       9     -22%

2,290  2,440  2,506    -9%   Total production                           2,364   2,534      -7%





2Q06    1Q06    2Q05    2Q06  Liquids production by region (kb/d)         1H06    1H05    1H06
                        vs                                                                vs
                        2Q05                                                              1H05

358     378     397     -10%  Europe                                      368     406     -9%

604     656     706     -14%  Africa                                      630     714     -12%

  1       2      16     -94%  North America                                 1      11     -91%

 29      29      29     -     Far East                                     29      29      -

350     357     332     +5%   Middle East                                 354     335     +6%

118     131     141    -16%   South America                               124     140     -11%

  6       7       9    -33%   Rest of world                                 7       8     -13%

1,466  1,560   1,630   -10%  Total production                           1,513   1,643      -8%


2Q06    1Q06    2Q05    2Q06  Gas production by region (Mcfd)             1H06    1H05    1H06
                        vs                                                                vs
                        2Q05                                                              1H05

1,900   2,172   2,154   -12%  Europe                                      2,035   2,206   -8%

  469     457     451    +4%  Africa                                        463     451   +3%

   31      63     218   -86%  North America                                  47     191  -75%

1,231   1,238   1,145    +8%  Far East                                    1,235   1,200   +3%

  279     284     256    +9%  Middle East                                   281     276   +2%

  589     579     571    +3%  South America                                 584     544   +7%

    2       2       2     -   Rest of world                                   2       2    -

4,501   4,795   4,797   -6%   Total production                            4,647   4,870   -5%


• Downstream


2Q06    1Q06    2Q05    2Q06  Refined product sales by region (kb/d)*     1H06    1H05    1H06
                        vs                                                                vs
                        2Q05                                                              1H05

2,658   2,689   2,412   +10%   Europe                                     2,674   2,605   +3%
 
  318     319     339    -6%   Africa                                       318     329   -3%

  603     626     612    -1%   Americas                                     614     601   +2%

  198     230     258   -23%   Rest of world                                214     240  -11%

3,777   3,864   3,621    +4%   Total                                      3,820   3,774   +1%


* includes trading and equity share of Cepsa






                                Adjustment items



• Adjustments to operating income from business segments

2Q06   1Q06   2Q05   in millions of euros                                     1H06   1H05

(50)   (5)    (11)   Special items affecting operating income from business   (55)   (11)
                     segments

(23)   -      -      = Restructuring charges                                  (23)   -

-      -      (11)   = Impairments                                            -      (11)

(27)   (5)    -      = Other                                                  (32)   -

 383    373    391   Pre-tax inventory effect : FIFO vs. replacement cost      756    1,113

 333    368    380   Total adjustments affecting operating income from         701    1,102
                     business segments


• Adjustments to net income (Group share)

2Q06    1Q06   2Q05   in millions of euros                                     1H06    1H05

(110)   110    (51)   Special items affecting net income (Group share)         -       (176)

(35)    2      (36)   = Equity share of special items recorded by              (33)    (78)
                      Sanofi-Aventis

-       130    -      = Gain on asset sales                                    130     -

(44)    (15)   (7)    = Restructuring charges                                  (59)    (90)

-       -      (8)    = Impairments                                            -        (8)

(31)    (7)    -      = Other                                                  (38)      -

(86)    (83)   (53)   Adjustment related to the Sanofi-Aventis merger*         (169)  (135)
                              (share of amortization of intangible assets)

276     280    277    After-tax inventory effect : FIFO vs. replacement cost   556      773

80      307    173    Total adjustments to net income                          387      462

* based on 13% participation in Sanofi-Aventis at 6/30/2005, 3/31/2006 and 6/30/
2006


                            Net-debt-to-equity ratio




in millions of euros                                               6/30/2006         3/31/2006           6/30/2005

Current borrowings                                                  13,707            12,618              13,805

Net current financial instruments                                       45              (95)               (883)

Non-current financial debt                                          13,256            13,491              12,392

Hedging instruments of non-current debt                              (588)             (453)               (907)

Cash and cash equivalents                                          (14,602)         (14,816)            (13,577)

Net debt                                                            11,818            10,745              10,830

Shareholders equity                                                 40,272            43,170              36,609

Accrued dividend payable based on shares                            (1,860)           (2,941)             (1,582)

at the close of the period*

Minority interests                                                     783               913                 708

Equity                                                              39,195            41,142              35,735

Net-debt-to-equity ratio                                             30.2%             26.1%               30.3%


* As of June 30, 2006, this represents a distribution of a dividend of 1.62 €/
share for each 2.5 € par value share


                              2006 Sensitivities*




                         Scenario    Change       Impact on operating          Impact on net
                                                  income (e)               operating income (e)
€/$                      1.20 $/€    +0.1 € per $ +1.6 B€                  +0.8 B€



Brent                    40-50 $/b   +1 $/b       +0.41 B€                 +0.17 B€

TRCV - European refining 25 $/t      +1 $/t       +0.09 B€                 +0.06 B€
margin indicator

* sensitivities revised once per year upon publication of the previous year
fourth quarter results




                       Return on average capital employed



l For the 12 months ended June 30, 2006


in millions of euros           Upstream   Downstream       Chemicals**           Segments                   Group

Adjusted net operating income    9,125       2,942             803                12,870                    13,603

Capital employed                19,595       9,934            6,978               36,507                    43,539
at June 30, 2005*
Capital employed                23,139      11,335            7,147               41,601                    49,798
at June 30, 2006*

ROACE                            42.7%       27.7%            11.4%               33.0%                     29.1%


* at replacement cost (excluding after-tax inventory effect)

** capital employed for Chemicals reduced by 2,321 M€ for Arkema at June 30,
2005 and for the Toulouse-AZF provision of 59 M€ pre-tax at June 30, 2005 and
113 M€ pre-tax at June 30, 2006



• For the 12 months ended June 30, 2005


in millions of euros             Upstream    Downstream    Chemicals **    Segments         Group
Adjusted net operating income      6,639        2,773          1,026        10,438          11,150
Capital employed                  17,478        8,590          6,866        32,934          37,456
at June 30, 2004*
Capital employed                  19,595        9,934          6,978        36,507          43,539
at June 30, 2005*
ROACE                              35.8%        29.9%          14.8%         30.1%          27.5%

* at replacement cost (excluding after-tax inventory effect)

** capital employed for Chemicals reduced by 2,457 M€ for Arkema at June 30,
2004 and 2,321 M€ at June 30, 2005 and for the Toulouse-AZF provision of 204 M€
pre-tax at June 30, 2004 and 59 M€ pre-tax at June 30, 2005


•  For the full year 2005


in millions of euros           Upstream   Downstream       Chemicals**           Segments                   Group
Adjusted net operating income    8,029       2,916             967                11,912                    12,586
Capital employed                16,280       9,654            6,205               32,139                    38,314
at December 31, 2004*
Capital employed                23,522      11,421            6,885               41,828                    49,341
at December 31, 2005*
ROACE                            40.3%       27.7%            14.8%               32.2%                     28.7%

* at replacement cost (excluding after-tax inventory effect)

** capital employed for Chemicals reduced by 2,058 M€ for Arkema at December 31,
2004 and 2,235 M€ at December 31, 2005 and for the Toulouse-AZF provision of 110
M€ pre-tax at December 31, 2004 and 133 M€ pre-tax at December 31, 2005


                    Presentation of historical accounts and

                         profitability excluding Arkema



      Sales - Group                                           Sales - Chemicals


In M€          1Q06     2Q05     3Q05     4Q05       In M€         1Q06     2Q05     3Q05     4Q05
Published     39,605   33,073   38,414   39,942      Published    6,191    5,736    5,401    5,671
data                                                 data
Arkema       (1,502)  (1,464)  (1,358)  (1,377)      Arkema      (1,502)  (1,464)  (1,358)  (1,377)
impact                                               impact
New data      38,103   31,609   37,056   38,565      New data     4,689    4,272    4,043    4,294



Adjusted operating income                                Adjusted operating income
   Business segments                                             Chemicals


In M€           1Q06    2Q05    3Q05    4Q05       In M€         1Q06    2Q05    3Q05    4Q05
Published data  6,767   5,537   6,346   6,330      Published      310     381     166     247
                                                   data
Arkema impact   (79)    (89)    (58)     34        Arkema        (79)    (89)    (58)     34
                                                   impact
New data        6,688   5,448   6,288   6,364      New data       231     292     108     281



Adjusted net operating income                           Adjusted net operating income
   Business segments                                              Chemicals


In M€           1Q06    2Q05    3Q05    4Q05       In M€         1Q06    2Q05    3Q05    4Q05
Published data  3,269   2,886   3,044   3,095      Published      219     266     136     164
                                                   data
Arkema impact   (29)    (50)    (36)     158       Arkema        (29)    (50)    (36)     158
                                                   impact
New data        3,240   2,836   3,008   3,253      New data       190     216     100     322



ROACE - business segments*                                    ROACE - Chemicals*


                1Q06    2Q05    3Q05    4Q05                     1Q06    2Q05    3Q05    4Q05
Published data  30.9%   28.5%   29.8%   30.4%      Published     8.5%    12.6%   12.0%   11.0%
                                                   data
Arkema impact    +2%    +1.6%   +1.5%   +1.8%      Arkema        +3.5%   +2.2%   +1.5%   +3.8%
                                                   impact
New data        32.9%   30.1%   31.3%   32.2%      New data      12.0%   14.8%   13.5%   14.8%

* ROACE calculated on based on rolling twelve months at end of quarter



ROACE - Group*
                 1Q06    2Q05    3Q05    4Q05
Published data   27.7%   26.3%   27.8%   27.4%
Arkema impact    +1.5%   +1.2%   +1.2%   +1.3%
New data         29.2%   27.5%   29.0%   28.7%

* ROACE calculated on based on rolling twelve months at end of quarter



--------------------------


(1) adjusted net income = net income using replacement cost (Group share)
adjusted for special items and excluding Total's share of amortization of
intangibles related to the Sanofi-Aventis merger


(2) percent changes are relative to the second quarter 2005


(3) dollar amounts represent euro amounts converted at the average €/$ exchange
rate for the period (1.2582 $/€ in the second quarter 2006, 1.2594 $/€ in the
second quarter 2005, 1.2023 $/€ in the first quarter 2006, 1.2296 $/€ in the
first half  2006 and 1.2847 $/€ in the first half 2005)


(4) percent changes are relative to the first half 2005


(5) adjusted income is defined as income using replacement cost, adjusted for
special items and excluding Total's equity share of amortization of intangibles
related to the Sanofi-Aventis merger.  Adjusted cash flow from operations is
defined as cash flow from operations before changes in working capital at
replacement cost. Adjustment items are listed on page 14


(6) adjusted retroactively to take into account the 4-for-1 stock split
completed on May 18, 2006


(7) special items affecting operating income in the second quarter 2006 included
a charge of 50 M€ in the Chemicals segment ; in the second quarter 2005, special
items included impairments of 11 M€


(8) excluding the contribution of Arkema in the second quarter 2005 (43 M€), the
increase of the second quarter 2006 adjusted net income was 17%


(9) defined as : (tax on net adjusted operating income) / (net adjusted
operating income - income from equity affiliates, dividends received from
investments and impairments of acquisition goodwill + tax on adjusted net
operating income)


(10) share buybacks prior to the 4-for-1 stock split completed on May 18, 2006
have been multiplied by four


(11) net cash flow = cash flow from operations + divestments - investments


(12) calculations detailed on page 14


(13) including 2.30 million shares which are reserved for share grants as per
decision of the Board on July 18, 2006


(14) calculations detailed on page 15


(15) impact of hydrocarbon prices on entitlement volumes from production sharing
and buy-back contracts


(16) calculated based on adjusted net operating income and average capital
employed, using replacement cost, as shown on page 16


(17) see reconciliation tables on page 17


(18) recalculated after restating historical figures to exclude the contribution
of Arkema ; see reconciliation tables on page 17


                      This information is provided by RNS
            The company news service from the London Stock Exchange