Drilling Report

Total Fina Elf.
17 December 2001


Libya : A New Oil Discovery on Block NC 186

Paris, December 17, 2001 - TotalFinaElf and partners Repsol YPF (operator), OMV 
and Saga have just made a fourth oil discovery on Libya's Block NC 186. Well D1 
was drilled in the Murzuq Basin, 800 kilometres south of Tripoli, and 
encountered a significant oil column in the Hawaz sandstone formation.

During production tests the well flowed at a rate of 2,286 barrels per day of 
41o API crude oil on a 16/64-inch choke.

Development studies have already been carried out for two of the three other 
discoveries on Block NC 186 and a development plan submitted to state-owned NOC.

All of the discoveries are located close to the El Sharara fields in Block 
NC 115, which produce around 165,000 barrels per day of light (44o API), sweet 
crude oil and in which TotalFinaElf has a 30% working interest in the foreign 
consortium. The El Sharara production facilities have sufficient capacity to 
process and export additional oil output.

This latest find strengthens TotalFinaElf's position in Libya, where the Group 
also operates the Mabruk field, in the western part of the Sirte Basin, which 
produces 18,000 barrels per day of light crude oil (35o API). In addition, the 
Group is carrying out exploration activity elsewhere in the Murzuq Basin and in 
the Sirte Basin. Early this year, TotalFinaElf also launched the development of 
Block 137 offshore Libya.