Capital Expenditure Program
Total S.A.
16 September 2005
Total steps up capital expenditure program in France
Paris, September 16, 2005 - Total is stepping up its capital expenditure program
in response to developments over the last two years in the oil market, which has
seen very high utilization of world production and refining capacity.
From now through 2010, Total will be investing €2.8 billion in refining in
France, three times as much as in the first half of the decade. The main
investments consist of €500 million to increase diesel production at four
refineries, €400 million to improve energy efficiency and further reduce the
environmental footprint of refineries, and an estimated €800 million to build an
upgrader at the end of the period to convert surplus heavy fuel oil into
automotive fuel.
The new refining capacity will enable an additional 4 million metric tons of
diesel to be produced to meet increased demand.
x x x
Over the longer term, Total is committed to diversifying its energy supply and
to developing solutions that will help meet energy demand while contributing to
the combat against climate change.
In France, Total will be spending €500 million between now and 2010 on:
• Renewable energies: Most of the €250 million earmarked will be spent on wind
power projects and on developments in photovoltaic power,
• Biofuels: Total plans to double its ethanol purchases and triple its
vegetable oil methyl ester (biodiesel) purchases and is ready to form
partnerships to build new biodiesel units,
• New automotive fuel production processes: Around €100 million will be spent
on programs to develop new gas-to-liquids and biomass-to-liquids processes to
efficiently produce liquid hydrocarbons from gas or biomass. One particular
project could consist of building a unit to produce high-grade biodiesel from
a combination of vegetable oils and animal fat,
• Combating climate change: Total will invest €50 million to build a pilot CO2
capture and sequestration unit at Lacq and to develop other technologies to
reduce greenhouse gas emissions related to the use of fossil fuels,
• Around €100 million will be allocated to R&D partnerships covering new
automotive energy sources, such as fuel cells and hydrogen, as well as new,
more energy efficient industrial equipment and new technologies in the areas
of renewable energies and the reduction of greenhouse gas emissions.
Through these initiatives, Total is assertively demonstrating its commitment
to consolidating its role as a global energy operator in oil and gas as well
as new energies.
******
Total is the fourth largest oil and gas company in the world with operations in
more than 130 countries. Total's activities cover the whole energy chain of the
petroleum industry: exploration, oil and gas production, refining and marketing,
trading and power generation. The Group is also a major player in chemicals.
Total has more than 111,000 employees worldwide. More information can be found
on the company's website: www.total.com
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Isabelle CABROL
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Charles-Edouard ANFRAY
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Franklin BOITIER
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Philippe GATEAU
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TOTAL SA
Capital 6 214 875 300 euros
542 051 180 R.C.S. Nanterre
www.total.com
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