Re Agreement

Total Fina Elf.
27 March 2002


TotalFinaElf signs an agreement to study a gas liquefaction project in Angola

Paris, March 27,  2002 - TotalFinaElf has signed a participation agreement 
alongside Norsk Hydro, BP and Esso Angola Gas Limited, with Angola's state oil 
company Sonangol and ChevronTexaco to study a project to construct a Liquefied 
Natural Gas (LNG) plant in Angola.

The four companies each take a 12% interest in the project; Sonangol has 
retained 20% and ChevronTexaco, 32%.

The project is based upon a one-train design with a throughput of four million 
tonnes of LNG per year. New optimisation studies will now be carried out by all 
of the partners in the project.

TotalFinaElf is an established actor in the LNG market, with global sales of 
close to 6 million tonnes per year in 2001. The Group holds interests in five 
LNG plants around the world, located in the Middle East, Indonesia and in 
Nigeria. It is also a major oil operator in Angola, holding interests in 14 
exploration and production licences, with an operated production of over 300,000 
barrels per day.
 

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