Re Contract

Total Fina Elf.
23 April 2003



       Gabon: TotalFinaElf Announces the Signature of the Extension of the
                    Rabi-Kounga License with Gabonese Republic 


Paris, April 23, 2003 - TotalFinaElf announces the signature of an
exploration and production sharing contract (ESPC) with the Gabonese Republic
covering the onshore Rabi-Kounga oil field located in the Gamba region. 


Until now, the facility was being developed under a concession license that
was due to expire in 2007. The EPSC takes effect on January 1, 2003 for an
initial ten-year period and is followed by two additional five-year terms. 


This new contract will enable investments of approximately $150 million to
improve oil recovery at Rabi-Kounga. Today, the field produces roughly 55,000
barrels of oil per day. 

Through the company's subsidiaries Elf Gabon and Elf Aquitaine, TotalFinaElf
holds a consolidated share of 47.5% for the block, along with Amerada Hess
Production Gabon (10%) and Shell Gabon (42.5%. operator). 


With this contract, TotalFinaElf once again demonstrates its commitment to
developing Gabon's economy and oil industry. 



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