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BIL
BIBLT
BIL - BHP Billiton Plc - Approves funding for North West Shelf
North Rankin gas compression project
BHP Billiton Plc
Share code: BIL
ISIN: GB0000566504
Date: 31 March 2008
Number: 11/08
BHP BILLITON APPROVES FUNDING FOR NORTH WEST SHELF
NORTH RANKIN GAS COMPRESSION PROJECT
BHP Billiton today announced approval for the North West Shelf`s North Rankin
Gas Compression project which is designed to recover remaining lower pressure
gas from the North Rankin and Perseus gas fields. BHP Billiton has approved
expenditure of US$850 million (BHP Billiton share) on the project.
The project comprises a new gas compression platform, North Rankin B (NRB), to
be constructed adjacent to the existing North Rankin A platform, which will
itself require significant brownfield work including the installation of new
equipment. The two platforms will be connected by a 100-metre bridge and
operate as a single facility.
The NRB platform is a major offshore facility with a topsides weight of about
23,600 tonnes. NRB is expected to start-up in 2012, with-steady state production
scheduled for early 2013.
BHP Billiton Petroleum Chief Executive J. Michael Yeager said the North Rankin B
project would deliver high-value gas supply from the North West Shelf for
another 25 years.
"The North Rankin B project is part of BHP Billiton`s continued commitment to
developing Australia`s major resources. This extension of the North West Shelf
project follows our approval of the fifth LNG train which significantly expanded
the LNG facility as well as the Angel gas and condensate field which are under
development," he said.
"These investments in this long-life, world-class asset underpin a significant
extension of BHP Billiton`s long-term production profile."
North Rankin is located in 125 metres of water (410 feet), approximately 135
kilometres (80 miles) offshore from Karratha on the North West coast of Western
Australia. Production from the North Rankin and Perseus fields started in 1984
and mid-1990`s respectively.
The six equal participants in the North West Shelf project are: Woodside Energy
Ltd. (16.67 per cent and operator); BHP Billiton Petroleum (North West Shelf)
Pty Ltd 16.67 per cent; BP Developments Australia Pty Ltd (16.67 per cent);
Chevron Australia Pty Ltd (16.67 per cent); Japan Australia LNG (MIMI) Pty Ltd
(16.67 per cent); and Shell Development (Australia) Pty Ltd (16.67 per cent).
CNOOC NWS Private Limited is also a member of the North West Shelf Venture but
does not have an interest in North West Shelf Venture infrastructure.
urther information on BHP Billiton can be found on our Internet site:
www.bhpbilliton.com
Australia United Kingdom
Samantha Evans, Media Relations Andre Liebenberg, Investor Relations
Tel: +61 3 9609 2898 Mobile: +61 400 Tel: +44 20 7802 4131 Mobile: +44
693 915 7920 236 974
Email:Samantha.Evans@bhpbilliton.com Email:Andre.Liebenberg@bhpbilliton.com
Don Carroll, Investor Relations Illtud Harri, Media Relations
Tel: +61 3 9609 2686 Mobile: +61 417 Tel: +44 20 7802 4195 Mobile: +44
591 938 7920 237 246
Email:Don.A.Carroll@bhpbilliton.com Email: Illtud.Harri@bhpbilliton.com
South Africa
United States Tracey Whitehead, Alison Gilbert, Investor Relations
Investor & Media Relations Tel: SA +27 11 376 2121 or UK +44 20
Tel: US +1 713 599 6100 or UK +44 20 7802 4183Mobile: +44 7769 936
7802 4031Mobile: +44 7917 648 093 227Email:
Email:Tracey.Whitehead@bhpbilliton.com Alison.Gilbert@bhpbilliton.com
Date: 31/03/2008 07:11:01 Produced by the JSE SENS Department.
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