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     2004 January: BHP Group plcBHP [BHP]
    (Suspended)
     Thu, 29 Jan 2004 Official Announcement [-] 
    BHP: Quarterly report on exploration & development
    • Atlantis Development
    BHP completed full capital allocation for the Atlantis project in Feb 03. BHP's share of total project expenditure is USD1.1bn. During the quarter, fabrication of the hull began with the cutting of first steel at the shipyard in South Korea.
    • Ohanet Development
    The Ohanet Development consists of the development of four gas-condensate reservoirs in the Illizi Basin in southern Algeria. A total of 28 new wells have been drilled and completed and 15 existing wells re-completed. The last four wells have been deferred to allow three to four years of production history to be gathered.
    • ROD Integrated Development
    The ROD Integrated Development consists of the development of six satellite oilfields in the Berkine Basin in eastern Algeria. The project will produce 80,000 barrels of Sahara Blend crude oil per day, with associated gas being reinjected into the reservoir together with water to provide pressure support to the reservoir. At the end of Dec 03, 22 new development wells had been completed and the 23rd was well advanced.
    • Minerva
    In Sep 03, BHP Billiton changed the contractual arrangements relating to the design and construction of the Minerva development. A new managing contractor was appointed in Oct 03 to complete the gas plant and engineering. Procurement and construction activities have resumed.
    • Caesar/Cleopatra Transportation Systems
    BHP acquired a 25% interest in the Caesar oil pipeline and a 22% interest in the Cleopatra gas pipeline, which will transport product from the Mad Dog and Atlantis fields to pipelines closer to shore.
    Click here for original article
     
     Thu, 29 Jan 2004 Official Announcement [-] 
    BHP: Production report for period ended 31 Dec 03
    • Total Petroleum Products
    Total production for the Dec 03 quarter was 30.2 million barrels of oil equivalent, 1% higher than the Dec 02 quarter and 6% lower than the Sep 03 quarter. Total production for the second half of calendar year 2003 was 6.3% higher than the first half, as the predicted decline in some of the group's legacy oil assets was more than offset by increased gas production and production from new assets.
    • Oil and Condensate
    Production for the Dec 03 quarter was 14.9 million barrels, 9% lower than the 16.4 million barrels produced in the Dec 02 quarter.
    • Natural Gas
    Production for the Dec 03 quarter was 77.6 billion cubic feet, 12% higher than the 69.4 billion cubic feet produced in the Dec 02 quarter.
    • Alumina
    Production for the December 2003 quarter was 1.1 million tonnes, 5% higher than the Dec 02 quarter, due to power disruptions at Worsley (Australia) and Paranam (Suriname) last year.
    Click here for original article
     
     Tue, 20 Jan 2004 Official Announcement [SML] 
    BHPBill appoints chairman of local operations
    BHP Billiton today (20 Jan 04) announced the appointment of Dr Vincent Maphai to the position of Chairman of its wholly owned subsidiary BHP Billiton South Africa Ltd. Dr Maphai will take up the position, to be based in Johannesburg, on 1 May 2004. The Chairman of BHP Billiton SA will be the most senior group executive located in Southern Africa and will report to BHP Billiton executive director Mike Salamon. The new role reflects BHP Billiton's commitment to the region and to playing a constructive role in the development of the countries in which it has an operating presence.
    Click here for original article
     
     Fri, 16 Jan 2004 Media Comment [SML] 
    BHPBill -- Ingwe workers planning strike action
    Workers at BHPBill's Ingwe collieries were organising a strike to protest against the planned retrenchment of 371 workers. The National Union of Mineworkers commented that Ingwe Coal had ignored the recent rise in the price of coal from USD23 a ton to USD40 a ton. BHPBill would hold further discussions with NUM on the retrenchments which, according to the group, would affect support roles and not mining positions. NUM has planned a national march on 21 Jan 04, to be followed by a 48 hour notice of the Unions intention to strike.
     
     Fri, 16 Jan 2004 Official Announcement [SML] 
    BHPBill -- court dismisses Ok Tedi Mining case
    BHPBill confirmed that the Supreme Court of Victoria has approved the dismissal of proceedings against BHPBill and Ok Tedi Mining Ltd on the basis of a settlement reached with the plaintiffs last month (Dec 03). BHPBill Chief Legal Counsel and Head of External Affairs, John Fast, said he was pleased with the outcome of the case, which confirms that the company has at all times complied with its obligations under the 1996 Ok Tedi Settlement Agreement. "Importantly, the settlement also confirms that there are no further unresolved or outstanding matters in relation to the original terms of the 1996 Settlement Agreement. This is consistent with the position taken by BHPBill at all times since 1996 and is the reason why we vigorously defended this action," Mr Fast said.

    BHPBill completed its withdrawal from the Ok Tedi Copper Mine in Papua New Guinea in Feb 2002 with the transfer of its 52% equity stake to the PNG Sustainable Development Program Ltd. The other current owners of the Ok Tedi Mine are the Government of Papua New Guinea and the Canadian Mining Company Inmet Mining Corporation.
    Click here for original article
     
     Wed, 14 Jan 2004 Official Announcement [-] 
    BHP settles 2004 fine iron ore prices
    BHP today (14 Jan 04) announced it had reached agreement with Nippon Steel on the price of its fine iron ores for the year commencing 1 Apr 04. Negotiations with other Japanese customers are continuing. The agreed price is: Mt Newman High Grade Fines US35.99c per dry metric tonne unit; an increase of 18.62%. Prices for BHP's other fine iron ore products will increase by similar percentages.
    Click here for original article
     
     Tue, 13 Jan 2004 Official Announcement [-] 
    BHP discovers oil at Puma well
    BHP Billiton today (13 Jan 04) announced that it had completed drilling the Puma-1 exploration in the deepwater Gulf of Mexico. The well encountered approximately 500 feet of net oil pay in Miocene sandstones, and two subsequent sidetrack bores also encountered oil in reservoir intervals of a similar age. Steve Bell, president, Exploration and Business Development said today: 'The drilling result is encouraging, however, the well was drilled in a structurally complex subsurface area and in a zone where seismic imaging data is of only moderate quality. Further seismic reprocessing and appraisal drilling will be necessary to evaluate the size and significance of the discovery'.
    Click here for original article
     
     
    < 2004 February 2004 Index 2003 December >
    Closing price data source: JSE Ltd. All other statistics calculated by ProfileData.
       

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