In 2001, Group oil and gas production rose 3.4% to 2.20 millions of boe/d, while proven reserves rose 2% to 10.98 billions of boe. Several major highly technical projects were brought on stream: production started at Elgin-Franklin in the UK, Girassol in Angola, Sincor in Venezuela, and South Pars in Iran.

Exploration & Production

Europe
In the UK, the Elgin-Franklin oil and gas fields operated by TotalFinaElf (46.2%) came on stream. At a depth of approximately 5,500 meters, they are the deepest ever developed in the North Sea and constitute the oil industry's largest high-temperature/high-pressure undertaking worldwide. Combined production at Elgin and Franklin will plateau at 220,000 boe per day. The Nuggets gas fields operated by TotalFinaElf (100%) came on stream and development began on the Otter fields operated by TotalFinaElf (54.3%) ... In the Netherlands, K4BE gas production began ... In Norway, the Huldra gas and condensate fields in the Norwegian North Sea came on stream (TotalFinaElf 24.3%).

Africa
In Angola, production started at the Girassol field operated by TotalFinaElf (40%) 150 km off the coast. At a depth of 1,350 m, Girassol is the world's largest deep-sea development and deploys innovative techniques. Production is expected to level off at 200 kboe/d ... Discovery of Tombua on Block 14 (TotalFinaElf 20%) ... In Gabon, the Atora oil field operated by Elf Gabon (40%) came on stream ... In Libya, discoveries on NC 186 (TotalFinaElf 24%) and start of development of structure B on Block C 137 operated by TotalFinaElf (37.5%) ... In Nigeria, major discovery on Bonga South West (TotalFinaElf 12.5%) and positive appraisal at Akpo 1 (TotalFinaElf 24%) on the OPL 246 deep-water permit.

North America
In the Gulf of Mexico, development of Matterhorn was launched. This field, wholly owned and operated by TotalFinaElf E&P USA, is about 170 kilometers southeast of New Orleans at a depth of 850 meters.

Middle East
In Saudi Arabia, the government awarded the "Core Venture 3" contract to a consortium in which TotalFinaElf holds a 30% stake. The project involves developing gas reserves in the Shaybah area to supply a petrochemical plant and a power generation and desalination plant on the Arabo Persian Gulf coast ... In Iran, the Sirri A-E project operated by TotalFinaElf (60% interest in the consortium) was completed and work on the giant gas field of South Pars was finalized. Production is due to start in the first quarter of 2002 ... In Qatar, an agreement was signed to export natural gas from Qatar to the United Arab Emirates as part of the Dolphin project. TotalFinaElf (24.5%) will be the upstream project operator. Dolphin's first development phase is estimated at $3.5 billion.

Far East
In Indonesia, TotalFinaElf won the Donggala deep-sea block 75 kilometers from the Tunu production facilities. A 3D seismic survey has already been carried out on this block, which is operated by TotalFinaElf (50%).

South America
In Argentina, development of the Carina and Aries gas fields began. Both fields, off the coast of Tierra del Fuego, should come on stream in 2004 and reach plateau gas production of 420 Mcf per day. TotalFinaElf is the operator of the Cuenca Marina Austral-1 consortium (Total Austral 37.5%), which is in charge of development ... In Bolivia, San Alberto came on stream (TotalFinaElf 15%) and a new gas discovery was made on Block XX operated by TotalFinaElf 41%) ... In Venezuela, the Sincor project facilities started up. Production will plateau at 180,000 barrels/day of Zuata Sweet, a high-quality, low-sulfur, 32° API synthetic crude produced from extra-heavy oil (8° to 8.5° API) from the Orinoco Belt. The first shipment of synthetic oil took place in March 2002. The Sincor project came in on time at a total of $4.2 billion over a period of 40 months. This is the biggest industrial investment ever made in Venezuela. TotalFinaElf has a 47% interest, making it the principal shareholder of the company in charge of the project ... A 69.5% stake was acquired in a consortium on the Yucal Placer North and Yucal Placer South Blocks. Their development will position the Group as a leader on the Venezuelan gas market as it opens up to the private sector... In Trinidad and Tobago, two deep-water oil discoveries were made on Block 2c (TotalFinaElf 30%): Kairi-1 and Canteen 1.

Commonwealth of Independent States (CIS)
In Kazakhstan, the Group increased its stake in Kashagan by increasing its stake in the OKIOC consortium from 14.28% to 16.67% ... The results of the first exploratory and test wells at Kashagan indicate a huge discovery, confirming the northern Caspian Sea's ranking as a major oil district.

Gas & Power

The Group pursued its integration strategy in the gas & power sector by acquiring interests and strengthening its positions in electric power plants and gas pipeline networks in Latin America and Europe, and by participating in projects in the Middle East and Asia.

Downstream gas
In France, development of a high-pressure gas network in the southwest and the Group was involved in the launching of PowerNext, the first French power exchange market ... In Spain, a trading company was created through a joint venture with Cepsa, and the Group was involved in a series of studies for the Medgaz project, a gas pipeline that is expected to provide a direct link between Algeria and Spain ... In Latin America, final agreements were signed to acquire interests in various natural gas transport assets in Argentina, Chile and Brazil from TransCanada Pipelines Limited (TCPL). These assets consist of an integrated gas pipeline system of 6,400 Km supplying the Argentine and Brazilian markets from the Neuquen and northwestern production basins in Argentina.

Electricity and Cogeneration
In Great Britain, the Group increased its stake to 40% in British company Humber Power Ltd., owner of the cogeneration power plant of South Humber Bank in Lincolnshire with a capacity of 1,260 MW .... In Argentina, 63.9% of Central Puerto SA and 70% of Hidroneuquen were acquired. Central Puerto SA owns and operates gas-fired power plants in Buenos Aires and in the Neuquen province and has a total capacity of 2,165 MW; Hidroneuquen holds 59% of Piedra del Aguila, a 1,400 MW hydroelectric dam in the Neuquen province ... In the United Arab Emirates, work progressed on Taweelah A1, one of the world's largest cogeneration projects ... In Thailand, construction work continued on the gas-fired cogeneration power plant in Bang Bo with a capacity of 350 MW.

Coal
In 2001, TESA, TotalFinaElf's South African subsidiary, sold 6 million metric tons of coal to European and Asian buyers. An additional 2 million metric tons of steam coal were marketed in Asia.

Renewable Energy
A license application was submitted to install five wind turbines with a total capacity of 12 MW at the Flandres refinery site in France ... In association with Belgian partners, the Photovoltech company was created. Photovoltech will build a plant to produce photovoltaic cells and modules in Tienen, Belgium. The planned annual capacity is more than 6 MW peak.