Re Agreement

Total Fina Elf.
22 May 2002


                     Russia: TotalFinaElf signs an Agreement with 
             Anglo Siberian Oil Company to enter into the Vankor Permit 


Paris, May 22, 2002 - TotalFinaElf has signed an agreement with Anglo Siberian
Oil Company to enter into the Vankor permit in Siberia, with an option to take
an interest in the contiguous North Vankor permit. 


Under the terms of this agreement, for which the coming into force is subject to
the satisfaction of certain preconditions, TotalFinaElf will acquire 52% of the
59% interest previously held by Anglo Siberian Oil Company in the Vankor permit
and takeover as operator. 


TotalFinaElf has also an option to take a 60% interest and become operator of
the North Vankor permit, currently 100%-owned by Anglo Siberian Oil Company. 


The Vankor field is located in the Krasnoyarsk province of northern Siberia and
covers area of 1,625 square kilometres. The adjacent North Vankor permit is
located in the Tamyr province and covers 1,163 square kilometres. 


This agreement strengthens the presence of TotalFinaElf in Russia, where the
Group is already developing the Khariaga field in the Timan Pechora basin, and
where it will also undertake exploration activity in the Black Sea. 


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