Re Agreement

Total Fina Elf.
12 June 2002


TotalFinaElf joins the BTC Pipeline Project Sponsor Group

Paris, June 12, 2002 - TotalFinaElf announces that it has signed an agreement
with the Sponsor Group of the BTC Pipeline Project which links Baku in
Azerbaijan to Ceyhan in Turkey. This agreement gives it the right to acquire a
5% share in the Pipeline Company at project sanction.

TotalFinaElf is involved in large exploration and production projects in the
Caspian Sea area where hydrocarbon transportation is a key business driver for
the oil and gas activities. The Group has consistently made clear its support of
the development of multiple export routes for the crude oil produced in the
Caspian area in order to increase security of export, stimulate competitiveness
and provide access to a variety of markets.

The decision to join the Sponsor Group of the BTC is thus part of this strategy
and would give TotalFinaElf access, once the project is sanctioned, to export
capacity for part of its future production from the Caspian Area, notably
Kazakhstan.

The BTC pipeline will be the second major export pipeline following the recent
start of the CPC (Caspian Pipeline Consortium) operations in the northern part
of the region. TotalFinaElf believes that other major export lines will also be
necessary notably toward the Arab-Persian Gulf in order to provide access to the
Asian markets.




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