2014 Financial TransparencyExample of Total in Nigeria(2013 data)

COMMITED TO BETTER ENERGY

Financial Transparency Example of Total in Nigeria

The contractual framework of Total’s operations in Nigeria Total has been present in Nigeria since 1962. Its upstream subsidiaries Total E&P Nigeria Limited and Total Upstream Nigeria Limited have participating interests in a number of the licenses allocated by the Federal Government. Total is also present through Total LNG Nigeria Limited which owns 15% in Nigeria LNG Ltd and Brass Holdings Company Limited which currently owns 17% in Brass LNG Ltd. The other upstream Total subsidiaries in Nigeria are:

– Total Exploration Nigeria Ltd; – Total Petroleum Nigeria Ltd; and – Total E & P Nigeria Deepwater A through H Ltd.

Nigeria grants two types of petroleum titles namely (i) the Oil Prospecting License (“OPL”), and (ii) the Oil Mining Lease (“OML”). The OML is granted upon application by a holder of an OPL who satisfies the relevant criteria for such grant, including discovery of hydrocarbons in commercial quantities.

Total’s acreage in Nigeria as of 31st December 2013

License Type of contract Total’s role Interests

(%) Entry date

OMLs 11 -13 -16 - 17 - 18 - 20 - 21 - 22 - 23 - 24 - 25 - 27 - 28 - 29 - 31 - 32 - 33

- 35 - 36 – 43 - 45 - 46

Concession (JV) Partner 10.00 August 1, 1989

OML 58 Concession (JV) Operator 40.00 Initial: June 14, 1967 Renewed: June 3, 1998

OMLs 71 - 72 - 74 - 77 - 79

Concession (JV) Partner 10.00 December 1, 1988

OMLs 99 - 100 - 102 Concession (JV) Operator 40.00 December 4, 1986 Renewed: May, 2013

OML 130 (part of ex-OPL 246)

PSA* Operator 24.00 February 24, 2005

OML 118 PSC** Partner 12.50 December 1, 2005

OMLs 112 - 117 Concession Partner +

Technical Adviser 40.00 August 13, 2005

OML 135 PSC Partner 12.50 July 17, 2006

OML 136

Concession

Partner + Technical Adviser

40.00

May 4, 2007

OML 138 (part of ex-OPL 222)

PSC Operator 20.00 October 24, 2006

OPL 223 PSC Operator 18.00 July 18, 2005

OPL 257

PSC

Partner + Technical Adviser

40.00

July 20, 2007

OPL 285 PSC Partner 60.00 May 23, 2007

OPL 297 (OPL 246 W) PSA Partner 24.00 25 septembre 1998

* PSA: Production Sharing Agreement (private agreement relating to production sharing between international oil companies and local companies) ** PSC: Production Sharing Contract

Financial Transparency Example of Total in Nigeria

Total’s production and projects in Nigeria(1)

Total’s SEC* Production

Year Total Liquids Natural gas

kboe/d kb/d Mcf/d

2011 287 179 534

2012 279 173 521

2013 261 158 511

* SEC : Securities and Exchange Commission

In Nigeria, Group production in 2013 was 261 kboe/d compared to 279 kboe/d in 2012 and 287 kboe/d in 2011. These declines are primarily due to the sharp increase in oil bunkering and in 2013 the blockade of Nigeria LNG export cargos. Despite such factors negatively affecting production, Nigeria remained the largest contributor to the Group’s production.

TOTAL, which has been present in the country since 1962, operates six production licenses (OML) out of the thirty-eight in which it has a stake, and one out of the four exploration licenses (OPL) in which it is present.

(1)

The information stated in above paragraph is extracted from 2013 Registration Document submitted to the Financial Market

Authority (AMF) on the 27th of March 2014.

Financial Transparency Example of Total in Nigeria

Regarding variations in TOTAL’s licenses:

– In September 2013, TOTAL was granted approval by the authorities to increase its stake in Exploration license OPL 285 from 26.67% to 60%. In May 2013, TOTAL obtained the approval of the authorities for the renewal of licenses OML 99, 100 and 102 for a period of twenty years.

– On the OML 138 license (20%), TOTAL started production in the Usan offshore field in 2012 (180

kb/d, FPSO capacity), which reached the level of 130 kboe/d in 2013. Since February 2014, TOTAL is no longer the operator of the OML 138 license. In 2012, TOTAL signed an agreement for the sale of its 20% stake in Block OML 138. The disposal is currently being finalized.

– TOTAL decided not to continue its exploration activities in JDZ Block 1 (48.6%, operator) following

the analysis of the results of wells drilled in 2012. Block was relinquished in September 2013. Also, the Block OPL 221 was relinquished in November 2013.

– TOTAL sold its 10% stake in Blocks OML 26 and 42 in 2011 and in Blocks OML 30, 34 and 40 in 2012. These interests had previously been indirectly controlled via the joint venture Shell Petroleum Development Company (SPDC).

TOTAL continues, with its developments, to meet the growing domestic demand for gas and to strengthen its ability to supply gas to the LNG projects in which it owns a stake:

– As part of its joint venture with the Nigerian National Petroleum Company (NNPC), TOTAL is pursuing the project to increase the gas production capacity of the OML 58 license (40%, operator) from 370 Mcf/d to 550 Mcf/d.

– On the OML 102 license (40%, operator), TOTAL is continuing to develop the Ofon phase 2 project, which was launched in 2011, with an expected capacity of 70 kboe/d and production start-up is scheduled for the end of 2014. In 2011, the Group also discovered Etisong North, located 15 km from the currently-producing Ofon field. The exploration campaign continued in 2012 with the drilling of the Eben well, which is also south of Ofon. The positive results produced by this well further enhance the interest of the future Etisong-Eben development hub as a satellite of the Ofon field.

– On the OML 130 license (24%, operator), the development of the Egina field (capacity of 200 kboe/d)

was launched in June 2013 and contracts have been awarded. Production start-up is expected at year-end 2017.

– On the OML 99 license (40%, operator), engineering work is underway to develop the Ikike field,

where production is expected to start in 2017 (estimated capacity of 55 kboe/d). – On the OML 112/117 licenses (40%), development studies have been suspended waiting for the

resolution of contractual issues that arose in 2013.

– TOTAL is also active in the LNG sector with a 15% holding in the company Nigeria LNG, which possesses a liquefaction plant of a total capacity of 22 Mt/y. In addition, TOTAL holds a 17% stake in Brass LNG, which is continuing to study the project for a gas liquefaction plant with two LNG trains of a capacity of 5 Mt/y each.

The production that is not operated by the Group in Nigeria comes mainly from the SPDC joint venture, in which TOTAL holds a 10% stake. The sharp increase of oil bunkering in 2013 had an impact on onshore production, as well as on the integrity of the facilities and the local environment.

In addition, TOTAL also holds a 12.5% stake in the OML 118 deep-offshore license. In connection with this license, the Bonga field contributed 15 kboe/d to Group production in 2013. The partners continued

Financial Transparency Example of Total in Nigeria

the development of the Bonga Northwest project in 2013. On the OML 118 license, a pre-unitization agreement relating to the Bonga South West discovery has been signed in December 2013.

Taxes and other payments The Federal Government, through its agencies, received from Total in Nigeria (Exploration & Production segment), the following taxes as detailed within table below:

Millions US$ 2013 2012

Petroleum Profit Tax 698 1,053

Royalty – OIL 624 796

Royalty - GAS 37 35

Other taxes 334 322

Total 1,693 2,206

In addition to the above royalties and taxes, the Federal Government also received 5,268 million Naira in 2013 as Niger Delta Development Commission contributions.

EITI (Extractive Industries Transparency Initiative) in Nigeria Nigeria was accepted as an EITI Candidate country on September 27, 2007 and submitted its final Validation report to the EITI Board on June 29, 2010. The EITI Board designated Nigeria as EITI Compliant on March 1, 2011. NEITI published the audit reports for 2009, 2010 and 2011 on January 31, 2013. The firm Sada Idris and Co has conducted these financial audits that will be followed by physical and process audits. Nigeria must be revalidated by February 29, 2016.

(For further information: http://eiti.org/Nigeria)