|
BIL
BIBLT
BIL - BHP Billiton Plc - Quarterly Report On Exploration And Development
Activities Quarter Ended 30 September 2007
BHP Billiton Plc
Share code: BIL
ISIN: GB0000566504
23 October 2007
Number 31/07
BHP BILLITON QUARTERLY REPORT ON EXPLORATION AND DEVELOPMENT ACTIVITIES
QUARTER ENDED 30 SEPTEMBER 2007
This report covers the company`s exploration and development activities for the
quarter ended 30 September 2007. This report together with the Production Report
represents the Interim Management Statement for the purposes of the UK Listing
Authority`s Disclosure and Transparency Rules. There have been no significant
changes in the financial position of the Group in the quarter ended 30 September
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 October, oil production commenced at the Genghis Khan and Atlantis fields in
the Gulf of Mexico. These projects will not be reported in future Exploration
and Development Reports.
PROJECT AND SHARE OF INITIAL PRODUCTION QUARTERLY PROGRESS
OWNERSHIP APPROVED PRODUCTIO CAPACITY
CAPEX N TARGET (100%)
US$M DATE
Petroleum
Projects
Genghis Khan 365 2H CY07 55,000 First well was completed
(US) barrels of during the quarter. First
44% oil per day oil announced, see
Oil/Gas News@BHPBilliton dated 8
October 2007.
Atlantis South 1,630 2H CY07 200,000 On schedule and on
(US) barrels of revised budget. Nine
44% oil and 180 production wells have
Oil/Gas million been drilled and seven
cubic feet completed. The first well
of gas per is online and the field
day will begin ramping up oil
and gas production
towards the end of this
calendar year.
Neptune (US) 405 Q1 CY08 50,000 On revised budget, and
35% barrels of schedule moved to Q1
Oil/Gas oil and 50 CY08. Offshore hookup and
million commissioning of
cubic feet pipelines and topsides
gas per day continued. Four of seven
wells have been drilled
with two completed.
Stybarrow 380 End CY07 80,000 On revised budget and
(Australia) barrels of schedule moved forward to
50% oil per day end CY07. Three of five
Oil/Gas producing wells and all
injector wells have been
drilled and completed.
FPSO now on location and
installation of subsea
equipment continued.
PROJECT AND SHARE OF INITIAL PRODUCTION QUARTERLY PROGRESS
OWNERSHIP APPROVED PRODUCTIO CAPACITY
CAPEX N TARGET (100%)
US$M DATE
Petroleum
Projects
North West 200 End CY08 800 million On schedule and budget.
Shelf Angel cubic feet Topsides fabrication
(Australia) gas per day continued. Jacket
16.67% completed and loaded out
Oil/Gas ready for sail away.
North West 350 Late CY08 LNG On schedule and revised
Shelf Train 5 processing budget as advised by the
(Australia) capacity of Operator. Onsite
16.67% 4.2 million construction and hookup
LNG tpa 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 The top section on the
cubic feet third of six development
gas per day wells was drilled.
Pyrenees 1,200 1H CY10 96,000 On schedule and budget.
(Australia) barrels of FPSO with 9 producing
71.43% oil and 60 wells and 4 injection
Oil/Gas million wells in 200m water
cubic feet depth. Contracts for
gas per day FPSO, subsea components
and installation signed.
Minerals
Projects
Alumar - 725 Q2 CY09 2 million On revised schedule and
Refinery tpa budget, project is 56%
Expansion complete. Detailed
(Brazil) engineering is nearing
36% completion, with
Alumina procurement and
construction progressing.
Pinto Valley 140 Q4 CY07 70,000 tpa On schedule and budget.
Restart (USA) Copper in Construction is 98%
100% concentrate complete. Commissioning
Copper of the concentrator has
commenced.
Koala 200 End CY07 3,300 First kimberlite
Underground tonnes per production blast during
(Canada) day ore October. Ahead of
80% processed schedule and within
Diamonds budget.
Ravensthorpe 2,200 Q1 CY08 Up to On revised schedule and
(Australia) 50,000 tpa budget. Construction and
100% contained pre-commissioning are
Nickel nickel in essentially complete with
concentrate only 10% wet
commissioning remaining.
Process commissioning of
the plant has commenced
and is progressing to
schedule.
Utilities are advanced
with beneficiation and
atmospheric leach in
early stages of
commissioning.
The first Pressure Acid
Leach circuit is ready to
commence process
commissioning.
PROJECT AND SHARE OF INITIAL PRODUCTION QUARTERLY PROGRESS
OWNERSHIP APPROVED PRODUCTION CAPACITY
CAPEX TARGET (100%)
US$M DATE
Minerals
Projects
Yabulu 556 Q1 CY08 45,000 tpa On revised schedule and
(Australia) nickel budget. The Yabulu
100% Expansion is mechanically
Nickel complete and
commissioned. Ramp up
will commence with the
delivery of feed from
Ravensthorpe.
Cliffs Nickel 139 1H CY08 360,000 On schedule and budget.
Project tpa nickel Total project progress
100% ore 15% complete. Major
Nickel activities in the current
quarter included work on
ventilation shafts,
underground development
and earthworks.
Iron Ore 1,300 Q4 CY07 20 million On schedule and budget.
(Western tpa Engineering and
Australia) procurement activities
RGP3 are complete, with
85% construction activities
Iron Ore now 85% complete.
Commissioning activities
have commenced.
Iron Ore 1,850 1H CY10 26 million On schedule and budget.
(Western tpa Engineering progress is
Australia) now over 50% complete
RGP4 with procurement work
86.2% continuing. Earthwork
Iron Ore contractors are mobilised
at all sites.
Samarco Third 590 1H CY08 7.6 On schedule and budget.
Pellet Plant million Total project progress is
(Brazil) tpa 86% 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 partnerships.
Grassroots exploration continued on diamond targets in Angola and the Democratic
Republic of Congo (DRC), on copper targets in Australia, Chile, Mongolia, the
DRC and Kazakhstan; and on nickel targets in Australia, Brazil and Africa,
including Burundi and Tanzania. Exploration for iron ore, coal, potash and
bauxite was undertaken in a number of regions including Australia, South
America, Canada and West Africa. Brownfield exploration continued around
existing operations.
For the three months ended 30 September 2007, BHP Billiton spent US$143 million
on minerals exploration of which US$109 million was expensed.
PETROLEUM EXPLORATION
Exploration and appraisal wells drilled during the quarter or in the process of
drilling as at 30 September 2007.
WELL LOCATION BHP BILLITON EQUITY STATUS
Big Foot North-1 Green Canyon 55% BHP Billiton Drilling suspended.
Gulf of Mexico and operator Waiting on rig to
GC-953 continue drilling.
Kugler-1 Trinidad & 25.5% BHP Billiton Hydrocarbons
Tobago (Anadarko operator) encountered. Plugged
Block 3(b) and abandoned.
Kairi Horst (KAI- Trinidad & 45% BHP Billiton Hydrocarbons
B12) Tobago and operator encountered.
Block 2(c) Well completed.
Thebe-1 Exmouth 100% BHP Billiton Encountered
Plateau and operator approximately 240
Western feet of gas column.
Australia Additional appraisal
WA-346-P required.
Plugged and
abandoned.
See News@BHPBilliton
dated 13 August 2007.
Torosa-4 Browse Basin 8.33% BHP Billiton Drilling suspended.
Western (Woodside operator) Waiting on rig to
Australia continue drilling.
WA-30-R
Snarf -1 Browse Basin 20% BHP Billiton Drilling suspended.
Western (Woodside operator) Waiting on rig to
Australia continue drilling.
WA-275-P
Lady Nora-1 Carnarvon 16.67% BHP Billiton Hydrocarbons
Basin (Woodside operator) encountered. Plugged
Western and abandoned.
Australia
WA-28-P
Glenridding-1 Exmouth sub- 50% BHP Billiton Dry hole. Plugged and
basin and operator abandoned.
Western
Australia
WA-32-L
Petroleum exploration expenditure for the three months ended 30 September 2007
was US$124 million of which US$72 million was expensed.
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
Andre Liebenberg, Investor Relations
Tel: +44 20 7802 4131 Mobile: +44 7920 236 974
email: Andre.Liebenberg@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: 23/10/2007 07:26:45 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS. |
|
