On January 29, 2015, TOTAL acquired a 10% stake in the new ADCO concession in Abu Dhabi (United Arab Emirates) for a fortyyear period starting from January 1, 2015. It covers the fifteen main onshore fields in Abu Dhabi and represents more than half of the Emirate’s production. TOTAL has been appointed Asset Leader for the Bu Hasa field and the Southeast group of fields (covering Sahil, Asab, Shah, Qusahwira and Mender fields), which represent approximately two-thirds of ADCO’s production. In 2015, ADCO’s entire production is expected to be approximately 1.6 million barrels per day (Mb / d), with an objective to increase output to 1.8 Mb / d from 2017. As the first international company to enter the new ADCO concession in Abu Dhabi, TOTAL demonstrates its ability to access resources under good conditions and create strong partnerships in a strategic region with numerous development opportunities.
On February 2, 2015, TOTAL completed the sale of its adhesive subsidiary Bostik to Arkema. The accounting effects of this sale, which occurred after the close of the Consolidated Financial Statements for the year ended December 31, 2014 will be reflected in TOTAL S.A.’s intermediate Consolidated Financial Statements for the first quarter of 2015.
Except for the events mentioned above in the Management Report (chapter 3), in the Business overview (chapter 2), or in the description of legal and arbitration procedures (point 4. of chapter 4), no significant changes in the Group’s financial or commercial position have occurred since December 31, 2014, the end of the last fiscal year for which audited financial statements have been published by the Company.