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BIL
BIBLT
BIL - BHP Billiton Plc - Initial funding approved for Mad Dog Phase 2
BHP Billiton Plc
Share code: BIL
ISIN: GB0000566504
NEWS RELEASE
Release IMMEDIATE
Time
Date 11 April, 2012
Number 09/12
INITIAL FUNDING APPROVED FOR MAD DOG PHASE 2
BHP Billiton today announced approval for US$708 million (BHP Billiton share)
in pre-commitment funding for the Mad Dog Phase 2 project in the deepwater
Gulf of Mexico. The funding will facilitate detailed engineering and the
procurement of long lead time items related to the hull, topsides and subsea
equipment.
The Mad Dog Phase 2 project is based on successful appraisal drilling which
confirmed significant hydrocarbons in the southern portion of the Mad Dog
field. The proposed project includes the development of a second spar
facility with all subsea production and injection wells. The new facility is
estimated to have a design capacity of approximately 130,000 barrels of oil
per day that will be exported via the Mardi Gras Pipelines under existing
agreements. A final investment decision is anticipated in calendar year 2013
with first production scheduled for calendar year 2018.
BHP Billiton Petroleum Chief Executive Officer, J. Michael Yeager, said: "Mad
Dog Phase 2 will join our extensive Gulf of Mexico portfolio that includes
Mad Dog and Atlantis as well as the Shenzi and Neptune platforms that we
operate. The extension of this field will underpin continued valuable liquids
production from the Gulf of Mexico and further enhance our growth profile."
Mad Dog is a partnership between BP (operator, 60.5 percent share), BHP
Billiton (23.9 percent) and Chevron (15.6 percent).
Further information on BHP Billiton can be found at: www.bhpbilliton.com
Sponsor: Absa Capital (the investment banking division of Absa Bank Limited,
affiliated with Barclays Capital)
Media Relations Investor Relations
Australia Australia
Antonios Papaspiropoulos James Agar
Tel: +61 3 9609 3830 Tel: +61 3 9609 2222
Mobile: +61 477 325 803 Mobile: +61 467 807 064
email: email: James.Agar@bhpbilliton.com
Antonios.Papaspiropoulos@bhpbilliton.com
Andrew Gunn
Kelly Quirke Tel: +61 3 9609 3575
Tel: +61 3 9609 2896 Mobile: +61 439 558 454
Mobile: +61 429 966 312 email: Andrew.Gunn@bhpbilliton.com
email: Kelly.Quirke@bhpbilliton.com
United Kingdom and South Africa
Fiona Martin
Tel: +61 3 9609 2211 Brendan Harris
Mobile: +61 427 777 908 Tel: +44 20 7802 4131
email: Fiona.Martin2@bhpbilliton.com Mobile: +44 7990 527 726
United Kingdom email:
Brendan.Harris@bhpbilliton.com
Ruban Yogarajah
Tel: +44 20 7802 4033 Tara Dines
Mobile: +44 7827 082 022 Tel : +44 20 7802 7113
email: Ruban.Yogarajah@bhpbilliton.com Mobile : +44 7825 342 232
Americas Email : Tara.Dines@bhpbilliton.com
Jaryl Strong
Tel: +1 713 499 5548 Americas
Mobile: +1 281 222 6627
email: Jaryl.Strong@bhpbilliton.com Scott Espenshade
Tel: +1 713 599 6431
Mobile: +1 713 208 8565
email:
Scott.Espenshade@bhpbilliton.com
BHP Billiton Limited ABN 49 004 028 077 BHP Billiton Plc Registration
Registered in Australia number 3196209
Registered Office: 180 Lonsdale Street Registered in England and Wales
Melbourne Victoria 3000 Australia Registered Office: Neathouse Place
Tel +61 1300 55 4757 Fax +61 3 9609 3015 London SW1V 1BH United Kingdom
Tel +44 20 7802 4000
Fax +44 20 7802 4111
Members of the BHP Billiton Group which is headquartered in Australia
Date: 11/04/2012 07:05:01 Produced by the JSE SENS Department.
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