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BIL
BIBLT
BIL - BHP Billiton Quarterly Report On Exploration And Development Activities
Quarter Ended 30 September 2008
BHP Billiton Plc
Share code: BIL
ISIN: GB0000566504
22 October 2008
Number 35/08
BHP BILLITON QUARTERLY REPORT ON EXPLORATION AND DEVELOPMENT ACTIVITIES QUARTER
ENDED 30 SEPTEMBER 2008
This report covers the Group`s exploration and development activities for the
quarter ended 30 September 2008. 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 to the financial position of the Group in the quarter ended
30 September 2008. 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
First production was successfully achieved during the quarter at Neptune and
North West Shelf Train 5 (both petroleum). In addition, North West Shelf Angel
(petroleum) delivered first production on 3 October 2008. These projects will
not be reported in future Exploration and Development Reports.
During the quarter, we sanctioned two gas projects - Bass Strait Turrum and
Angostura Gas Phase II. Atlantis North is now also detailed in the report.
PROJECT AND SHARE OF INITIAL PRODUCTION QUARTERLY PROGRESS
OWNERSHIP APPROVED PRODUCTION CAPACITY
CAPEX TARGET (100%)
US$M DATE
Petroleum
Projects
Neptune (US) 405 Mid CY08 50,000 First production
35% barrels of announced, see News
Oil/Gas oil and 50 Release dated 6 July
million 2008.
cubic feet
gas per
day
North West 350 Late CY08 LNG Start-up achieved ahead
Shelf Train 5 processing of schedule and on
(Australia) capacity budget. See News Release
16.67% of 4.4 dated 1 September 2008.
LNG million
tpa
North West 200 End CY08 800 Start-up achieved ahead
Shelf Angel million of schedule and on
(Australia) cubic feet budget. See News Release
16.67% gas per dated 3 October 2008.
Oil/Gas day and
50,000 bpd
condensate
Shenzi (US) 1,940 Mid CY09 100,000 Ahead of schedule and on
44% barrels of budget. Subsea hook-up of
Oil/Gas oil and 50 wells and commissioning
million of topsides commenced.
cubic feet Two of five wells
gas per complete, with the third
day and fourth wells nearing
completion.
Atlantis North 185 H2 CY09 Tieback to On schedule and budget.
(US) Atlantis Flowlines installed and
44% South manifold fabrication
Oil/Gas continuing.
Pyrenees 1,200 H1 CY10 96,000 On schedule and budget.
(Australia) barrels of Floating Production
71.43% oil and 60 Storage and Offtake
Oil/Gas million (FPSO) conversion
cubic feet continues.
gas per
day
Angostura Gas 180 H1 CY11 280 On schedule and budget.
Phase II million The project was
(Trinidad and cubic feet sanctioned during the
Tobago) gas per quarter. See News Release
45% day dated 16 September 2008.
Gas
Bass Strait 500 CY11 10,000 bpd On schedule and budget.
Kipper condensate Line pipe delivered, with
(Australia) and engineering and
32.5% - 50% processing procurement progressing.
Gas/Gas capacity
Liquids of 80
million
cubic feet
gas per
day
Bass Strait 625 CY11 11,000 bpd On schedule and budget.
Turrum condensate The project was
(Australia) and sanctioned during the
50% processing quarter. See News Release
Gas/Gas capacity dated 25 July 2008.
Liquids of 200
million
cubic feet
gas per
day
North West 850 CY12 2,500 On schedule and budget.
Shelf North million Detailed engineering and
Rankin B Gas cubic feet procurement progressing.
Compression gas per
(Australia) day
16.67%
LNG
PROJECT AND SHARE OF INITIAL PRODUCTION QUARTERLY PROGRESS
OWNERSHIP APPROVED PRODUCTION CAPACITY
CAPEX TARGET (100%)
US$M DATE
Minerals
Projects
Alumar - 900 Q2 CY09 2 million On schedule with revised
Refinery tpa of budget. Budget revised
Expansion alumina due to foreign exchange
(Brazil) 36% and other industry cost
Alumina pressures which are in
line with other major
projects in Brazil.
Engineering is complete
and procurement well
advanced. Construction is
70% complete with the
project overall 85%
complete.
Worsley 1,900 H1 CY11 1.1 On schedule and budget.
Efficiency & million Major contracts for
Growth tpa of precipitation,
(Australia) alumina structural, mechanical
86% and piping awarded. Site
Alumina works commenced.
Iron Ore 1,850 H1 CY10 26 million On schedule and on budget
(Western tpa in local currency.
Australia) additional Engineering is now over
RGP4 iron ore 90% complete and
86.2% system construction is 48%
Iron Ore capacity complete.
Gemco 110 H1 CY09 1 million On schedule and budget in
(Australia) tpa of local currency. Project
60% additional civil construction is
Manganese manganese underway and procurement
concentrat activities progressing
e well. Project is 65%
complete.
Klipspruit 450 H2 CY09 Incrementa On schedule and budget.
(South Africa) l 1.8 Engineering significantly
100% million advanced with civil and
Energy Coal tpa export plant erection works
thermal progressing well. Project
coal is over 50% complete.
Incrementa
l 2.1
million
tpa
domestic
thermal
coal
Douglas- 975 Mid CY10 10 million On schedule and budget.
Middelburg tpa export Earthworks and civil
Optimisation thermal engineering are well
(South Africa) coal and advanced and steel
100% 8.5 fabrication is
Energy Coal million progressing as scheduled.
tpa All long lead time items
domestic ordered.
thermal
coal
(sustains
current
output)
Newcastle 390 CY10 Export On schedule and budget.
Third Port coal Project is over 20%
Project loading complete.
(Australia) facility
35.5% 30 million
Energy Coal tpa
MINERALS EXPLORATION
BHP Billiton remains committed to invest in our future through the pursuit of
global exploration opportunities for key commodities of interest utilising both
in-house capabilities and partnerships.
Grassroots exploration continued on copper targets in Australia, Chile,
Argentina and the Democratic Republic of Congo (DRC); on nickel targets in
Australia, Russia, Colombia and Africa and on diamond targets in the DRC and
Canada. Exploration for iron ore, coal, bauxite and manganese was undertaken in
a number of regions including Australia, South America, Russia and West Africa.
For the quarter ended 30 September 2008, BHP Billiton spent US$166 million on
minerals exploration, of which US$146 million was expensed.
PETROLEUM EXPLORATION
Exploration and appraisal wells drilled during the quarter or in the process of
drilling as at 30 September 2008.
WELL LOCATION BHP BILLITON EQUITY STATUS
Calliance-3 Browse Basin 20% BHP Billiton Hydrocarbons
Western (Woodside operator) encountered.
Australia Well suspended.
WA-28-R
Lambert-8 Dampier Sub- 16.67% BHP Billiton Drilling ahead.
Basin (Woodside operator)
Western
Australia
WA-16-L
Shenzi-81 Green Canyon 44% BHP Billiton Drilling ahead.
Gulf of Mexico operator
GC610
Petroleum exploration expenditure for the quarter ended 30 September 2008 was
US$148 million, of which US$107 million was expensed.
1 Shenzi-8 is the replacement well for Shenzi-7, which was plugged and
abandoned after encountering mechanical difficulties in the top-hole
section.
Further information on BHP Billiton can be found on our Internet site:
www.bhpbilliton.com
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BHP Billiton Limited ABN 49 004 028 077
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Registered Office:
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Telephone +61 1300 554 757
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Date: 22/10/2008 08:03:11 Produced by the JSE SENS Department.
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