Kharyaga Arbitration Process

Total S.A. 07 December 2005 Russia: End of the Kharyaga Arbitration Process uParis, December 7, 2005 - Total is pleased to announce the resolution, out of court and as a result of constructive negotiations with representatives of the Russian Federal Government and Administration of the Nenets Autonomous Region, of all issues in regards to the Kharyaga Production Sharing Contract which were the subject of an international arbitration in Stockholm. Within this framework the Production Sharing Agreement Joint Committee, the managing body of the Kharyaga project consisting of representatives of the Federal Government, Nenets Autonomous Region Administration and partnered companies approved the relevant past annual work programs as well as past budgets and past cost recovery. As a result, the Russian Tax Authorities have revoked their tax claims. Total is the operator of the field with a 50% participating interest along side Norsk Hydro also with a 40% interest, and the Nenets Oil Company with a 10% interest. * * * * * * * 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 This information is provided by RNS The company news service from the London Stock Exchange
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