Total: Bolivia: start-up of production from Itaú Phase 2

  Total:Bolivia: start-up of production from Itaú Phase 2

Business Wire

PARIS -- January 31, 2014

Regulatory News:

Total (Paris:FP) (LSE:TTA) (NYSE:TOT) announces the start-up of production
from Phase2ofthe Itaú gas and condensate field located in Block XX (Tarija
Oeste) in the AndeanCordillera foothills of Bolivia.

Building on the first phase of Itaú, which commenced production in February
2011, Phase2 triples production capacity to 5million cubic meters of gas per
day (35,000barrels of oil equivalent per day). The entire gas production of
Itaú’s two phases 1 and 2 will be processed in a dedicated new unit on the
same site as the facilities for the neighboring San Alberto field. As with
Phase1 production, Phase2 production will be exported mainly to Argentina.

“Lifting Itaú's production capacity allows us to keep pace with the region’s
growing gas demand,” explained Ladislas Paszkiewicz, Senior Vice President,
Total E&P Americas. “The start-up of Itau Phase 2 demonstrates Total’s
long-term commitment to Bolivia, where we are also actively pursuing the
development of the Incahuasi field.”

Total E&P Bolivie discovered the Itaú field in 1999. The participation of
Total E&PBolivie represents 41% besides Petrobras (operator with 30%), BG
Bolivia (25%) and YPFB Chaco (4%).

Total Exploration-Production in Bolivia

Present in Bolivia since 1996, Total E&P Bolivie (TEPBo) operates the Aquio
and Ipatiblocks, where Phase1 development of the Incahuasi field began in
September 2013. TEPBo has a 60% interest in the blocks, alongside Tecpetrol de
Bolivia (20%) and Gazprom (20%).

Total also operates the Azero exploration license with a 50% interest and
holds a 15%interest in the San Alberto and San Antonio blocks, which supply
Brazil with natural gas.

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Total is one of the largest integrated oil and gas companies in the world,
with activities in more than 130countries. The Group is also a first rank
player in chemicals. Its 97,000employees put their expertise to work in every
part of the industry – exploration and production of oil and natural gas,
refining and marketing, new energies, trading, and chemicals. Total is working
to help satisfy the global demand for energy, both today and tomorrow.


Tel. : (33) 1 47 44 58 53
Fax : (33) 1 47 44 58 24
Robert HAMMOND (U.S.)
Tel. : (1) 713-483-5070
Fax: (1) 713-483-5629
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