2013 Results and outlook February 2014 2013 Results & outlook www.total.com 1
Results ZONE DIMAGE 2013 Results & outlook www.total.com 2
Returns and acceptability key to sustainability RESULTS ACCEPTABILITY 2013 adjusted net income: 14.3 B Total Recordable Injury Rate: -14% vs 2012 Return on equity: 15% Gas flaring: -40% vs 2005 Gearing: 23% Local content: 9 M…
Competitive 2013 results in a challenging context Adjusted net income Production and adjusted net income B % change 2013 versus 2012 for Total and peers* 14.3 B Production Adjusted net income -20% Upstream Refining &…
2013-14 production profile Production Mboe/d 2.3 Mboe/d +4% Adco 0.14 2013 production stable despite one-offs Decline rate of 3-4% New Adco licence under negotiation 150 kboe/d from start-ups and ramp-ups Start-ups…
Adding giant projects for the long term Fort Hills Yamal Oil sands mining Giant onshore LNG 180 kb/d capacity 16.5 Mt/y capacity First oil 2017 First LNG 2017 2013 FID New resources Libra Egina Moho Nord…
Leveraging strong position in LNG Expanding Totals LNG capacity* Sanctioning a highly competitive project in 2013 Mt LNG projects under development** Capacity Mt 20 Trains 2&3 Yamal Yamal 20 Train 1 Ichthys GLNG Angola…
An industry leader in deep offshore Deep offshore production Mboe/d, Totals share 0.5 Kaombo High tech, high return projects Egina 8 FPSOs operated in 2017, Moho Nord Laggan first among Majors CLOV Finalizing Kaombo 0.2…
Strong 2013 reserve replacement rate of 119% Proved reserves Reserve replacement rate Bboe at year end 3-year average 11.5 130% 11.4 Portfolio 110% changes Production Additions Organic reserve replacement rate of…
Downstream restructuring delivering results Downstream adjusted net operating income Downstream adjusted net operating income B 2011-13 change compared to peers* M&S Additional 3 contribution 50% R&C +1.1 B 2 1 2009…
Successfully executing R&C strategy in 2013 Adjusted net operating income B Above target synergies and efficiencies, 1.9 B 250 M achieved vs 200 M planned Focusing on major integrated platforms Starting-up Satorp in Jubail,…
M&S accelerating growth in 2013 Adjusted net operating income B 1.5 B Expanding in high-growth markets Africa and Middle East stations +250 Asia lubricant sales +6% Adapting in Europe Retail market share +1% 600 Total…
On track to achieve asset sale target 2012-14 asset sale program* B Target 15-20 B Integrating asset sales Exits into Group strategy Usan Strategic Block Potential to exceed target partnerships 15/06 13 B Downstream Focusing…
2013 cash flow allocation Cash flow allocation B 31 B Change in net debt 28 B peak organic investment Net asset sales in line with budget Organic investment 2.4 B net asset sales* not including 3.2 B Usan & Block 15/06…
Committed to growing shareholder value 2013 total shareholder returns* 10-year dividend evolution %, based per share 2.38 20% x2 1.18 2003 2013 Highest dividend yield and 50% payout ratio in 2013, share price…
Outlook ZONE DIMAGE 2013 Results & outlook www.total.com 17
Oil & gas demand growing over the long term Oil supply-demand LNG supply-demand Mb/d Mt/y Oil demand LNG +0.6% 500 demand CAGR 100 +5% Potential CAGR projects 250 Sanctioned projects Decline 55 Mb/d of incremental…
Major projects on track CLOV FPSO on site on Block 17, following Status of major projects contributing to 2017 production integration of locally built modules Post-2013 start-ups, % EPC progress 0% 50% 100% Start-up CLOV 2Q 2014…
Confirming production growth targets Production Mboe/d 3 Mboe/d 2.6 2017 production from start-ups Mboe/d 65% operated projects 2.3 Start-ups 45% OECD countries Mboe/d 0.7 Mboe/d 70% liquids or oil-indexed gas 50 /boe cash…
High-potential 2014 exploration program 2014 big cat and elephant wells Stable 2014 exploration budget at 2.8 B with 60 wells Russia South Tambey Iraq Kurdistan Libya Block B137 Malaysia Qatar Pelangi Block BC…
R&C on track to achieve 2015 ROACE target 2011-2013 2014 2015 Synergies Efficiencies +2.5% 13% Portfolio changes +2.5% 11.5% Major projects Specialty on main chemicals in 2014 platforms 10% +0.5% in 2013 +1.5% 6% Port…
Delivering growth and profitability in M&S M&S adjusted net operating income B 2 B Adapting in Europe and growing in Africa and Middle East Developing high-return lubricants business worldwide Developing less capital…
Mobilizing all teams on cost reduction E&P 4 B Capex reduction on Kaombo Cost discipline vital for sustainable investments No progress without behavioral change Controlling project costs Focusing on pre-sanction process…
Confirming peak organic Capex in 2013 Group organic Capex B 30 28 B 26 B Growth Transitioning out of 2012-14 intensive investment period 15 Capex trend in line with post-2017 Base* lower growth from a larger base Capped…
On track to deliver free cash flow growth Free cash flow* B 15 Growing cash flow from operations Strong production growth 10 Cash accretive Upstream start-ups 2013 Increasing contribution of Downstream dividend 5…
Company-wide commitment to value creation Anticipating the future of energy through innovation and social responsibility Implementing our strategy Executing Upstream development projects and preparing for post-2017 Strengthening…
Appendix ZONE DIMAGE 2013 Results & outlook www.total.com 28
Portfolio of major projects Capacity Project Country Project (kboe/d) Share Op Status Production Mboe/d Brent price 100/b 2014 CLOV Angola Deep off. liquids 160 40% P Dev. West Franklin Ph.2 UK Gas/cond. 40 46.2% P Dev.…
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