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2010 MID YEAR OUTLOOK – Total SA

Total SA · Sep 15, 2010 · 39 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. 2010 MID YEAR OUTLOOK – Total SA – slide 1
    2010 mid-year y outlook Investor Relations September 2010
  2. 2010 MID YEAR OUTLOOK – Total SA – slide 2
    Macro environment M i t for the oil & gas industry Investor Relations
  3. 2010 MID YEAR OUTLOOK – Total SA – slide 3
    Oil : spare capacity reduced by middle of the decade Oil demand d d growing i by b more than th Difficulty to increase oil production capacity 1% per year on average by 2020* (in Mb/d) (in Mb/d) 95 92 91 88 88 83 Countries…
  4. 2010 MID YEAR OUTLOOK – Total SA – slide 4
    Gas market to tighten progressively N th A North America i E Europe A i Asia (demand 2010-20(e) : +1.3% per year) (demand 2010-20(e) : +1.7% per year) (demand 2010-20(e) : +5.7% per year) Bcf/d Bcf/d Bcf/d 90 90 90 New LNG…
  5. 2010 MID YEAR OUTLOOK – Total SA – slide 5
    Strong need for new LNG projects to meet future demand growth Bcf/d 60 40 25 Bcf/d LNG supply : LNG demand : 20 0 P ifi projects Pacific j t Oth Other Other projects Asia Under construction Europe or committed…
  6. 2010 MID YEAR OUTLOOK – Total SA – slide 6
    Refining : evolution of markets to continue Estimated e excess cess refining capacit capacity at end end-2015(e)* 2015(e)* Gl b l demand Global d d by b product d t (in Mb/d) Mb/d Middle distillates 30 North America Europe…
  7. 2010 MID YEAR OUTLOOK – Total SA – slide 7
    Increasing challenges for the oil industry require size and skills Safety Responsibility Operational Environment Finance Acceptability excellence Challenges Responses Technological Social Geology gy Diversification l d…
  8. 2010 MID YEAR OUTLOOK – Total SA – slide 8
    Totals strategic objectives Grow Upstream p and develop p resource base through g exploration, partnerships and targeted asset deals St Strength th Focus Downstream and Chemicals on large platforms and growing markets…
  9. 2010 MID YEAR OUTLOOK – Total SA – slide 9
    Strength Investor Relations www.total.com 3C3329
  10. 2010 MID YEAR OUTLOOK – Total SA – slide 10
    Strong corporate culture based on skills, diversity and acceptability Skilled workforce Average number of training days Emphasis on training per employee per year* 21% of new hires at Group level have a masters degree and 55% in the…
  11. 2010 MID YEAR OUTLOOK – Total SA – slide 11
    Integrated and diversified portfolio of high-quality assets Norway Proved and probable reserves* Canada United Kingdom 0.5 Bboe : 13 countries Kazakhstan US < 0.5 0 5 Bboe Bb : 19 countries ti 7 world-class Downstream -…
  12. 2010 MID YEAR OUTLOOK – Total SA – slide 12
    Ability to capitalize on the integrated business model Abu Dhabi (E&P, Power, Chemicals) Responding Nigeria (E&P, Marketing, Power) to the needs Qatar ((E&P,, Refining, g, Chemicals)) of host countries Saudi Arabia (Refining,…
  13. 2010 MID YEAR OUTLOOK – Total SA – slide 13
    Leading operator with demonstrated expertise Technical costs* Diversified expertise (in /boe) Technology and innovation Shell Deep-offshore p : Pazflor : worlds first using g oil/gas /g subsea separation p 24 Chevron on a…
  14. 2010 MID YEAR OUTLOOK – Total SA – slide 14
    Priority to safety and environment Total Recordable Injury Rate Maintaining the highest level of vigilance (per million man-hours worked) 15 Personal and process safety : general safety g y inspections p in all segments g 10…
  15. 2010 MID YEAR OUTLOOK – Total SA – slide 15
    Ability to develop new types of long-term partnerships Russia Canada Gazprom (Shtokman) Inpex (Joslyn) Novatek (Termokarstovoye) Sinopec (Northern Lights) Spain Iraq China IPIC (CEPSA) Petrochina (Halfaya) Petrochina (Sulige,…
  16. 2010 MID YEAR OUTLOOK – Total SA – slide 16
    Disciplined financial policy to maintain solid balance sheet and provide return to shareholders Net-debt-to-equity ratio at end of period Dividend % /share 35 2 30 25 1 20 2000 2002 2004 2006 2008 Jun-10 1999 2002 2005…
  17. 2010 MID YEAR OUTLOOK – Total SA – slide 17
    Delivery Investor Relations www.total.com 3C3329
  18. 2010 MID YEAR OUTLOOK – Total SA – slide 18
    Strong set of results and cash generation in first half 2010 2Q10 2Q09 % 1H10 1H09 % Cash flow allocation Average liquids price (/b) 74.8 54.8 +36 74.5 48.2 +55 Average gas price (/Mbtu) 4.82 4.71 +2 4.94 5.36 -8 16 B European…
  19. 2010 MID YEAR OUTLOOK – Total SA – slide 19
    First half 2010 production growth : +6.3% year on year Production Production growth** (1H10 vs. 1H09) Underlying growth Mboe/d +6 4% +6.4% % TOT XOM RDS CVX BP 2.39 6 2.25 -0.1% 3 Security in Nigeria Portfolio changes Gas…
  20. 2010 MID YEAR OUTLOOK – Total SA – slide 20
    Strong contribution from the five 2009 major start-ups Production from 2009 start-ups* Akpo (24%) kboe/d 200 Qatargas 2 T5 (16.7%) Plateau : 225 kboe/d 100 Tahiti (17%) Plateau : 290 kboe/d Yemen LNG (39.6%) 2009 1H10…
  21. 2010 MID YEAR OUTLOOK – Total SA – slide 21
    Total second-largest LNG player worldwide in 2010 LNG sales* LNG purchases Mt Mt Cargos +38% 6 6 60 Europe US and UK Africa spot markets 4 Continental Europe 4 40 Middle East 2 2 20 Asia Asia Diversions 1H09 1H10 Origin…
  22. 2010 MID YEAR OUTLOOK – Total SA – slide 22
    Launching new projects for 2014+ growth 2010 FIDs* FIDs 2011 Surmont Ph.2 Laggan/Tormore Islay CLOV Halfaya Ofon 2 GLNG Egina Jan. 2010 Mar. 2010 July 2010 Aug. 2010 L Laggan/Tormore /T (80% (80%, operator) t ) Expected…
  23. 2010 MID YEAR OUTLOOK – Total SA – slide 23
    Maintaining strong relative performance of Downstream - Chemicals Downstream - Chemicals ROACE % 2000-2009 average Priority to safety and reliability 25 1H10 annualized Reducing capacities to adapt to demand trends Refining :…
  24. 2010 MID YEAR OUTLOOK – Total SA – slide 24
    More active asset management to optimize portfolio Portfolio changes announced since the beginning of 2010 Laggan/Tormore Valhall/Hod F t Hills Fort Hill J l * Joslyn* Lindsey refinery UK marketing Amyris Mapa Spontex AE…
  25. 2010 MID YEAR OUTLOOK – Total SA – slide 25
    Visibility Investor Relations www.total.com 3C3329
  26. 2010 MID YEAR OUTLOOK – Total SA – slide 26
    Maintaining capital discipline Expected profitability for major Capital employed by segment Upstream 2010-15 start-ups IRR Sanofi Chemicals 100 /b 80 /b Downstream 60 /b Hurdle rate range depending on visibility, risks and…
  27. 2010 MID YEAR OUTLOOK – Total SA – slide 27
    Sustaining future production growth 2011-2014(e) Trinidad OML 58 Angola Bongkot Kashagan Laggan/ Islay Pazflor Usan Halfaya Ofon 2 Sulige CLOV GLNG main start-ups Block 2C upgrade LNG South Ph.1 Tormore P d ti * Production* P…
  28. 2010 MID YEAR OUTLOOK – Total SA – slide 28
    Diversified portfolio of major Upstream projects Projects Country Capacity (kboe/d) Share Op* Status Projects to sanction by year-end 2011 2018(e) NLNG T7 Nigeria LNG 250 15% FEED Brass LNG Nigeria LNG 300 17% FEED Joslyn North Mine…
  29. 2010 MID YEAR OUTLOOK – Total SA – slide 29
    Access to new resources through exploration and business development p Increasing exploration risked potential Access to resources* at a competitive cost Discovery cost Acquisition cost Bboe /boe 4 6 Under study 2 3…
  30. 2010 MID YEAR OUTLOOK – Total SA – slide 30
    Reshaping exploration portfolio New resources accessed since beginning 2010* Denmark Expand frontier exploration : Mauritania, French Guiana, Indonesia Kazakhstan France Reach new deeper targets in prolific basins and/or…
  31. 2010 MID YEAR OUTLOOK – Total SA – slide 31
    Building on leadership position in deep offshore Deep offshore Deep-offshore positions Deep-offshore production** Projects under development Projects operated by Total on schedule Mboe/d to start up between 2011 and 2014 Total to…
  32. 2010 MID YEAR OUTLOOK – Total SA – slide 32
    Optimizing heavy oil portfolio Heavy oil Heavy oil portfolio Heavy oil production**/*** Surmont Ph.2 (50%) Mboe/d Reserves* : 1.5 Bb Capacity Ph.1+2 Ph 1+2 : 110 kb/d Start-up Ph.2 : 2015(e) 0.25 Fort Hills (20%)** Petrocedeo…
  33. 2010 MID YEAR OUTLOOK – Total SA – slide 33
    Developing expertise in unconventional gas Unconventional gas Areas of expertise Unconventional gas production**/*** Shale Gas Barnett Shale JV with Chesapeake in the US (25%) Mboe/d Reserves* : 9.5 Tcf of gas (1.6 Bboe) Production…
  34. 2010 MID YEAR OUTLOOK – Total SA – slide 34
    Positioning for future growth in LNG demand GLNG (20%) LNG production** LNG Reserves* : 9 Tcf of gas (1.5 Bboe) Capacity : 7.2 Mt (150 kboe/d) Mboe/d FID : end-2010(e) ; start-up : 2014(e) Ichthys (24%) Reserves* : 12.8 Tcf of…
  35. 2010 MID YEAR OUTLOOK – Total SA – slide 35
    Improving Downstream - Chemicals profitability in a challenging g g environment Downstream - Chemicals ROACE 13%* 3% Developing projects in emerging markets 9.5% Reducing refining capacity in Europe 5.5% Tightening controls…
  36. 2010 MID YEAR OUTLOOK – Total SA – slide 36
    Developing Downstream - Chemicals in growing markets Leader in Marketing Jubail refinery Petrochemicals Wepec refinery Petrochemicals Marketing Specialty in Africa in Saudi Arabia in Qatar in China Korean JV in Asia Chemicals in…
  37. 2010 MID YEAR OUTLOOK – Total SA – slide 37
    Focus on key refining projects and major integrated platforms Port Arthur Normandy refinery Jubail deep conversion adaptation refinery Start-up 1H2011(e) Completion 2012(e) Start-up 2013(e) Improving competitiveness : Adjusting…
  38. 2010 MID YEAR OUTLOOK – Total SA – slide 38
    Accelerating development in new energies and seeking technological differentiation Solar : Integrate along the photovoltaic chain, get critical size and develop expertise on new technologies Manufacturing Energy solutions…
  39. 2010 MID YEAR OUTLOOK – Total SA – slide 39
    Strong business model to deliver value Portfolio of high-quality assets Strength Strong balance sheet Skills and discipline Production growth Delivery New projects launched Adapting Downstream - Chemicals 20 years of proved…

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