TOTAL Presentation | Business Forum Paris 2013

GAS DEVELOPMENT IN AZERBAIJAN Kevin Boyne Technical Advisor to Senior Vice President for Continental Europe and Central Asia, Total Exploration Production TEAS Business Forum, Paris, March 14th, 2013

AZERBAIJAN OIL FIRSTS •!First oil well in the world was drilled (not hand dug) in 1846 in Baku in Bibi Heybat oil field •!In 1900 Azerbaijan produced more than 50% of world’s oil - 11.4 million tons •!In 1897-1907 the 1st largest oil pipeline in the world was built from Baku to Batumi - 883 km •!About 80% of oil production during 2nd world war in former USSR was made in Baku (peak production – 23,5 million tons in 1941) •!First offshore oil production in the world started in Azerbaijan (1924 – Bibi Heybat beach, 1947 – Oily Rocks - in open sea)

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TEAS Business Forum, Paris, 14/03/2013

AZERBAIJAN : CURRENT POTENTIAL MAINLY OFFSHORE Yalama1 & 2

Discovery Uncommercial discovery Shows Dry

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TEAS Business Forum, Paris, 14/03/2013

TPAO

TOTAL E&P IN AZERBAIJAN SCPco:10 %

Gas Export to SCP

SHAH DENIZ:10 %

BTCco: 5 %

Operated

Condensate Export to BTC

Non Operated

TEAS Business Forum, Paris, 14/03/2013

ABSHERON : 40 % 4

4000

ABSHERON : THE ABX-2 WELL

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ABX-1A

ABX-2.T1

N HC columns proven by ABX-2.T1 and ABX-1 Additional HC column that could be proven by a Side-track to the N

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Undiscovered potential 5000

Structural spill point to the N

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Possible « delineation » side-track

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BAL VI-VII BAL VIII

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TD=6874 m/RT BalVII IBC Below NKP

Additional deep prospectivity in Kalinsky

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TEAS Business Forum, Paris, 14/03/2013

NKP

FAS E

BAL IX BAL X FAS B FAS D

Azerbaidjan - Gas Export

Nabucco West (OMV (34,76%), FGSZ MOL (13,1%), Transgaz, Bulgargaz, BOTAS : 17,38% each !! NW route and delivery points unchanged !!’10’ bcma capacity scalable

!! Estimated Capex 4 G! (48’’)

TAP (AXPO (ex EGL) 42.5%, Statoil 42.5%, E.ON 15%) !!10 bcma capacity (+ expansion to 20 bcma) !!Estimated Capex 3,5 G! !!AXPO and Statoil ready to dilute. !!Funding Agreement and Option Agreement with BP, SOCAR and Total signed !!Probable participations following exercise of options : SOCAR 20%, BP 20%, Statoil 20%, Total 10%, AXPO 15%, E.ON 15%.

TEAS Business Forum, Paris, 14/03/2013

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TANAP (Azerbaijan 80% Turkey 20%) !!Likely participations : SOCAR 51% + 29% offered to BP/ SH/Total (Total 5%) TPAO 15% + BOTAS 5% !!Mainly 56” with minimum 16 bcma initial capacity (scalable to 32 bcma and more) !!‘Estimated’ Capex of USD 7 billion !!SOCAR is the operator of the project (operator)