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BIL
BIBLT
BIL - BHP Billiton Plc - Quarterly report on exploration and development
activities quarter ended 30 June 2007
BHP Billiton Plc
Share code: BIL
ISIN: GB0000566504
24 July 2007
Number 24/07
BHP BILLITON QUARTERLY REPORT ON
EXPLORATION AND DEVELOPMENT ACTIVITIES
QUARTER ENDED 30 JUNE 2007
This report covers the company`s exploration and development activities for
the quarter ended 30 June 2007. Unless otherwise stated, BHP Billiton`s
interest in the projects referred to in this report is 100 per cent and
references to project schedules are based on calendar years.
DEVELOPMENT
In July, the Company announced the sanctioning of the Pyrenees Project, an
oil and gas project off the west coast of Australia. Progress of Pyrenees
will now be reported each quarter.
PROJECT AND SHARE OF INITIAL PRODUCTION QUARTERLY PROGRESS
OWNERSHIP APPROVED PRODUCTION CAPACITY
CAPEX US$M TARGET (100%)
DATE
Petroleum
Projects
Genghis Khan 365 2H CY07 55,000 On budget. Drilling of
44% barrels of first well continued
Oil/Gas oil per during the quarter.
day
Atlantis 1,500 2H CY07 200,000 Cost remains under
South (US) barrels of review. Seven development
44% oil and wells are now complete
Oil/Gas 180 and drilling has
million commenced on the eighth
cubic feet well. The Balder
of gas per installation vessel
day completed 3 flow lines.
Commissioning of the
production facilities
continued.
Neptune (US) 300 End CY07 50,000 On schedule however
35% barrels of drilling and construction
Oil/Gas oil and 50 costs continue to be
million under review. The hull
cubic feet and topsides were
gas per successfully installed,
day and flowlines and export
lines connected. Four of
seven wells have been
drilled with one
completed.
Stybarrow 380 Q1 CY08 80,000 On schedule. Capital
(Australia) barrels of costs increased to $380
50% oil per day million following
Oil/Gas completion of the
review. Three of five
producing wells and
three of four injector
wells have been drilled
and completed.
Mechanical completion
and commissioning of the
FPSO topsides and
installation of subsea
equipment continued
during the quarter.
North West 200 End CY08 800 million On schedule and budget.
Shelf Angel cubic feet Topsides and jacket
(Australia) gas per day fabrication progressing.
16.67% Last of 3 wells
Oil/Gas completed.
North West 300 Late CY08 LNG On schedule and revised
Shelf Train 5 processing budget as advised by the
(Australia) capacity of Operator. All 17 module
16.67% 4.2 million shipments have been
LNG tpa received. Onsite
construction and hookup
progressing.
Shenzi (US) 1,940 Mid CY09 100,000 On schedule and budget.
44% barrels of Hull and topsides
Oil/Gas oil and 50 fabrication continues.
million Drilled second of six
cubic feet development wells to
gas per day total depth during the
quarter.
Minerals
Projects
Alumar - 725 Q2 CY09 2 million On revised schedule and
Refinery tpa budget. Detailed
Expansion engineering is nearing
(Brazil) 36% completion, with
Alumina procurement and
construction
progressing.
Koala 200 End CY07 3,300 On schedule and budget.
Underground tonnes per During the quarter,
(Canada) day ore underground tunnelling
80% processed completed for critical
Diamonds access. Procurement is
almost complete and
engineering is complete
with the exception of
construction support.
Ravensthorpe 2,200 Q1 CY08 Up to On revised schedule and
(Australia) 50,000 tpa budget. Construction is
100% contained nearing completion. Pre-
Nickel nickel in commissioning is more
concentrate than 40% complete and
wet commissioning is
under way in the front
end of the process
plant. Process
commissioning is in
progress throughout the
utilities areas.
Yabulu 556 Q1 CY08 45,000 tpa On revised schedule and
(Australia) nickel budget. The Yabulu
100% Expansion is
Nickel mechanically complete
and commissioning will
start ahead of delivery
of feed from
Ravensthorpe.
Iron Ore 1,300 Q4 CY07 20 million On schedule and budget.
(Western tpa Engineering and
Australia) procurement activities
RGP3 are essentially complete,
85% with construction
Iron Ore activities now 65%
complete. Initial
commissioning activities
have started.
Iron Ore 1,850 1H CY10 26 million On schedule and budget.
(Western tpa Engineering activities
Australia) are proceeding to
RGP4 schedule, with some early
86.2% procurement underway.
Iron Ore
Samarco Third 590 1H CY08 7.6 On schedule and budget.
Pellet Plant million Total project progress
(Brazil) tpa 75% complete.
50%
Iron Ore
MINERALS EXPLORATION
BHP Billiton continued to pursue global exploration opportunities for key
commodities of interest utilising both in-house capabilities and the Junior
Alliance Programme.
Grassroots exploration continued on diamond targets in Angola, Canada and
the Democratic Republic of Congo (DRC), on copper targets in Australia,
Chile, Mongolia, the DRC and Zambia; and on nickel targets in Australia,
Russia and Africa. Exploration for iron ore, coal, potash and bauxite was
undertaken in a number of regions including Australia, Brazil, Canada and
West Africa.
For the twelve months ended 30 June 2007, BHP Billiton spent US$410 million
on minerals exploration of which US$288 million was expensed. Olympic Dam,
Nickel West, Western Australia Iron Ore and Diamonds and Speciality
Products (potash and diamonds exploration) accounted for much of the
increase in exploration expenditure over the previous year. Capitalised
exploration included US$86 million for the Olympic Dam Expansion.
PETROLEUM EXPLORATION
Exploration and appraisal wells drilled during the quarter or in the
process of drilling as at 30 June 2007.
WELL LOCATION BHP BILLITON EQUITY STATUS
Shenzi-6 - Gulf of Mexico 44% BHP Billiton Hydrocarbons
Side Track 1 Green Canyon and operator encountered.
Block 610 Temporarily plugged
and abandoned.
Puma-3 Gulf of Mexico 29.805% BHP Hydrocarbons
Green Canyon Billiton (BP encountered.
Block 866 operator) Temporarily plugged
and abandoned.
Calliance-2 Browse Basin 20% BHP Billiton Hydrocarbons
Western (Woodside operator) encountered.
Australia Additional
WA-28-R appraisal required.
Plugged and
abandoned.
Crosby West -1 Exmouth sub- 71.43% BHP Billiton Dry hole. Plugged
basin and operator and abandoned.
Western
Australia
WA-12-R
Snarf -1 Browse Basin 20% BHP Billiton Drilling suspended.
Western (Woodside operator) Waiting on rig to
Australia continue drilling.
WA-275-P
Helvellyn -1 Exmouth sub- 39.99% BHP Billiton Hydrocarbons
basin and operator encountered.
Western Sub-commercial
Australia accumulation.
WA-155-P Plugged and
abandoned.
Torosa-4 Browse Basin 8.33% BHP Billiton, Drilling ahead.
Western Woodside operator
Australia
WA-30-R
Petroleum exploration expenditure for the twelve months ended 30 June 2007
was US$477 million. The amount expensed was US$334 million which includes
US$82 million of exploration expenditure capitalised in prior years.
Further information on BHP Billiton can be found on our Internet site:
www.bhpbilliton.com
Australia
Samantha Evans, Media Relations
Tel: +61 3 9609 2898 Mobile: +61 400 693 915
email: Samantha.Evans@bhpbilliton.com
Jane Belcher, Investor Relations
Tel: +61 3 9609 3952 Mobile: +61 417 031 653
email: Jane.H.Belcher@bhpbilliton.com
United Kingdom
Mark Lidiard, Investor & Media Relations
Tel: +44 20 7802 4156 Mobile: +44 7769 934 942
email: Mark.Lidiard@bhpbilliton.com
Illtud Harri, Media Relations
Tel: +44 20 7802 4195 Mobile: +44 7920 237 246
email: Illtud.Harri@bhpbilliton.com
United States
Tracey Whitehead, Investor & Media Relations
Tel: US +1 713 599 6100 or UK +44 20 7802 4031
Mobile: +44 7917 648 093
email: Tracey.Whitehead@bhpbilliton.com
South Africa
Alison Gilbert, Investor Relations
Tel: SA +27 11 376 2121 or UK +44 20 7802 4183
Mobile: +44 7769 936 227
email: Alison.Gilbert@bhpbilliton.com
Date: 24/07/2007 07:48:01 Produced by the JSE SENS Department. |
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