Acquisition

Total Fina Elf. 27 March 2003 TotalFinaElf Acquires Interest In Bolivia's Ipati Block Paris, March 27, 2003 - Through local subsidiary Total Exploration Production Bolivia, TotalFinaElf has acquired an 80% interest in and operatorship of the Ipati license in southern Bolivia from Argentina's Tecpetrol. TotalFinaElf is also selling Tecpetrol a 20% interest in the adjoining Aquio Block. Under the terms of the agreement, TotalFinaElf operates the two blocks with an 80% interest and Tecpetrol holds a 20% interest in each. Covering approximately 615 square kilometers, the Ipati Block is located around 200 kilometers north of the West XX Block operated by TotalFinaElf. TotalFinaElf owns a 15% interest in the San Alberto field, which came on stream in early 2001, and in the San Antonio field, currently in the development phase. This information is provided by RNS The company news service from the London Stock Exchange
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