Stmt re Normandy Refinery

RNS Number:3303K
Total Fina Elf.
24 April 2003



            TotalFinaElf Finalises Review of a Euro500-Mllllon Investment 
           to Increase the Conversion Capacity of Its Normandy Refinery

Paris - April 24, 2003 - TotalFinaElf will shortly be inviting companies to
submit bids for engineering, procurement & construction works (EPC) for a
distillate hydrocracker and a steam methane reformer at its Normandy refinery
near Le Havre.

The operation of the hydrocracker unit, which will have a capacity of 2.4
million metric tons a year, will require the simultaneous construction of a
steam methane reformer to supply hydrogen for the new hydrocracker unit.

The two units represent a total investment of approximately Euro500 million.

The hydrocracker will enable the Normandy refinery to reduce its production of
heavy fuel oil and enhance its supply flexibility for diesel, jet fuel and
heating oil. The unit will also produce high quality bases for lubricants and
speciality fluids.

This review confirms TotalFinaElf's strategy of responding to demand in the
distillates market, particularly diesel and jet fuel, and at the same time
bolstering the competitiveness of its Normandy refinery.

The EPC tender will be launched before the end of April. The final decision to
implement the project will be made during the Summer of 2003, once the results
of the bidding process are known and local tax and environmental issues have
been clarified. Actual construction, which will involve up to 1,000 people,
could begin in early 2004, with start-up scheduled for the Summer of 2006.


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