Total CEO Christophe de Margerie is to be charged with complicity in the graft, while former interior minister Charles Pasqua, accused of influence peddling, is among a number of French right-wing politicians on the charge sheet.
Under French law Total, which is the world’s third-largest oil company, can be declared a legal entity and prosecuted.
The company denies the charges.
A previous attempt to bring the case to trial have failed on procedural grounds but a trial is now certain to take place in Paris in 2012.
The programme allowed the country, then ruled by Saddam Hussein, to sell limited amounts of its oil in exchange for vital supplies to relieve the effects of a UN embargo imposed after the first Gulf War in 1991.
Individuals involved are said to have received “coupons” which they sold to oil companies, with France’s 1991-1995 UN representative, Jean-Bernard Mérimée, reportedly confessing to have converted a house in Morocco with the proceeds.