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BIL
BIBLT
BIL - BHP Billiton exploration and development report for the quarter ended 30
September 2010
BHP Billiton Plc
Share code: BIL
ISIN: GB0000566504
20 October 2010
29/10
NEWS RELEASE
BHP BILLITON EXPLORATION AND DEVELOPMENT REPORT
FOR THE QUARTER ENDED 30 SEPTEMBER 2010
This report covers the Group`s exploration and development activities for the
quarter ended 30 September 2010. 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. 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 2010.
Development
During the quarter, the Douglas-Middelburg Optimisation Project (energy coal)
was completed and delivered first coal on schedule and budget. This project will
no longer be reported in future Exploration and Development Reports.
The approval of the Macedon Project (gas), offshore Western Australia was
announced on 24 September 2010
Project And Share Of Initial Production Quarterly Progress
Ownership Approved Production Capacity
Capex US$M Target Date (100%)
Petroleum Projects
Macedon 1,050 CY13 200 million Approval
(Australia) cubic feet gas announced, see
71.43% per day news release dated
Gas 24 September 2010.
Drilling campaign
commenced. The
overall project is
3% complete.
Angostura Gas Phase 180 H1 CY11 280 million On schedule and
II (Trinidad and cubic feet gas budget. Topsides
Tobago) per day fabrication
45% completed and en
Gas route to Trinidad.
Installation
campaign
progressing. The
overall project is
74% complete.
Bass Strait Kipper 500 CY11 10,000 bpd Schedule and
(Australia) condensate and budget under
32.5% - 50% processing review following
Gas/Gas Liquids capacity of 80 advice from the
million cubic operator.
feet gas per
day
Bass Strait Turrum 625 CY11 11,000 bpd Schedule and
(Australia) condensate and budget under
50% processing review following
Gas/Gas Liquids capacity of advice from the
200 million operator.
cubic feet gas
per day
North West Shelf 245 CY11 Replacement On schedule and
CWLH Life Extension vessel with budget. Floating
(Australia) capacity of Production Storage
16.67% 60,000 bpd oil and Offtake (FPSO)
Oil conversion
continues. The
overall project is
84% complete.
North West Shelf 850 CY12 2,500 million On schedule and
North Rankin B Gas cubic feet gas budget. Jacket
Compression per day fabrication
(Australia) continuing ahead
16.67% of schedule. The
LNG overall project is
56% complete.
Minerals Projects
Worsley Efficiency & 1,900 H1 CY11 1.1 million On schedule and
Growth (Australia) tpa of budget.
86% additional Construction is
Alumina alumina 38% complete. The
overall project is
53% complete.
Antamina Expansion 435 Q4 CY11 Increases ore On schedule and
(Peru) processing budget.
33.75% capacity to Engineering is 82%
Copper 130,000 tpd complete.
Construction is
21% complete. The
overall project is
27% complete.
Iron Ore (Western 4,800 H2 CY11 50 million tpa Engineering is 98%
Australia) additional complete.
RGP5 iron ore Construction is
85% system 77% complete. The
Iron Ore capacity overall project is
79% complete.
However, scope is
currently being
reviewed in order
to confirm car
dumping and ship
loading
requirements.
Douglas-Middelburg 975 Mid CY10 10 million tpa Project is
Optimisation (South export thermal complete. First
Africa) coal and 8.5 coal delivered on
100% million tpa schedule and
Energy Coal domestic budget.
thermal coal
(sustains
current
output)
MAC20 Project 260 H1 CY11 Increases On schedule and
(Australia)\ saleable budget.
100% thermal coal Engineering is
Energy Coal production by complete.
approximately Construction is
3.5 million 86% complete. The
tpa overall project is
92% complete.
Minerals Exploration
Grassroots exploration continued on copper targets in Chile and Zambia; nickel
targets in Australia; manganese targets in Gabon; and diamond targets in Canada.
Exploration for iron ore, coal, bauxite, potash and manganese was undertaken in
a number of regions including Australia, Canada, South America and Africa.
For the quarter ended 30 September 2010, BHP Billiton spent US$129 million on
minerals exploration, of which US$106 million was expensed.
Petroleum Exploration
Exploration and appraisal wells drilled during the quarter or in the process of
drilling as at 30 September 2010.
Well Location BHP Billiton Status
Equity
Deep Blue-1 Green Canyon Gulf of 31.875% Temporarily suspended
Mexico (Noble operator) Hydrocarbons
GC 723 encountered
Black Pearl- Exmouth Sub-basin 71.43% Plugged & abandoned
1 WA-42-L (operator) Hydrocarbons
encountered
Toroa-1 East Falkland Basin 51% Plugged & abandoned
PL015_02 (operator) Dry hole
Furness C-1 Exmouth Sub-basin 50% Plugged & abandoned
WA-255-P (operator) Dry hole
Petroleum exploration expenditure for the quarter ended 30 September 2010 was
US$74 million, of which US$56 million was expensed. Our guidance for petroleum
exploration expenditure for the June 2011 financial year is unchanged at
approximately US$900 million and is expected to be heavily weighted to the
second half.
****
Further information on BHP Billiton can be found on our Internet site:
www.bhpbilliton.com.
Australia
Brendan Harris, Investor Relations
Tel: +61 3 9609 4323 Mobile: +61 437 134 814
email: Brendan.Harris@bhpbilliton.com
Leng Lau, Investor Relations
Tel: +61 3 9609 4202 Mobile: +61 403 533 706
email: Leng.Y.Lau@bhpbilliton.com
Amanda Buckley, Media Relations
Tel: +61 3 9609 2209 Mobile: +61 419 801 349
email: Amanda.Buckley@bhpbilliton.com
Kelly Quirke, Media Relations
Tel: +61 3 9609 2896 Mobile: +61 429 966 312
Email: Kelly.Quirke@bhpbilliton.com
Fiona Martin, Media Relations
Tel: +61 3 9609 2211 Mobile: +61 427 777 908
email: Fiona.Martin2@bhpbilliton.com
United Kingdom & South Africa
Andre Liebenberg, Investor Relations
Tel: +44 20 7802 4131 Mobile: +44 7920 236 974
email: Andre.Liebenberg@bhpbilliton.com
United Kingdom & Americas
Ruban Yogarajah, Media Relations
Tel: +44 20 7802 4033
Mobile: UK +44 7827 082 022
email: Ruban.Yogarajah@bhpbilliton.com
Americas
Scott Espenshade, Investor Relations
Tel: +1 713 599 6431 Mobile: +1 713 208 8565
email: Scott.Espenshade@bhpbilliton.com
BHP Billiton Limited ABN 49 004 028 077
Registered in Australia
Registered Office: 180 Lonsdale Street
Melbourne Victoria 3000 Australia
Tel +61 1300 55 4757 Fax +61 3 9609 3015
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Members of the BHP Billiton group which is headquartered in Australia
Date: 20/10/2010 07:06:01 Produced by the JSE SENS Department.
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