BHP BILLITON PLC
Share code: BIL
ISIN      : GB0000566504
BHP Billiton today announced that it has increased its acreage position
offshore Trinidad and Tobago, in an area that is becoming an increasingly
important exploration focus for the Group. It also announced results from a
recently drilled exploration well, Kiari-1, as well as encouraging
indications from a well currently being drilled, Canteen-1.
On 31 October 2001, Trinidad and Tobago's Ministry of Energy and Energy
Industries announced it had awarded exploration Block 3(a) to a consortium
that includes BHP Billiton, Talisman Energy, BG International, and
TotalFinaElf.  The award is subject to final negotiation and execution of a
Production Sharing Contract with the Government of Trinidad and Tobago.
Comprising about 150,000 acres (237 square miles), Block 3(a) is located 25
miles off the northeastern coast of Trinidad in 100 to 300 feet of water.
BHP Billiton is the designated operator and holds a 30 per cent working
interest.  Talisman Energy and BG International each hold a 30 per cent
interest and TotalFinaElf S.A. holds the remaining 10 per cent equity.
Block 3(a) will substantially enhance BHP Billiton's acreage position and is
located adjacent to Blocks 2(ab) and 2(c), where the Group has participated
in five exploration wells and announced three hydrocarbon discoveries in the
past two years.
The Angostura gas discovery ÝBlock 2(c)¨ made in 1999, tested natural gas at
a stabilised flowrate of 30 million standard cubic feet per day (mmscfd)
through a 56/64 inch choke. The Aripo gas discovery ÝBlock 2(c)¨ in 2000,
tested natural gas at a stabilised flow rate of        21.6 mmscfd through a
44/64 inch choke (maximum 46.3 mmscfd via a 80/64 inch choke).
Another exploration well in Block 2(c), Kairi-1, encountered both oil and
gas in a hydrocarbon column that included 322 feet of net gas pay and 235
feet of net oil pay, and tested 3,000 barrels of oil per day through a 38/64
inch choke from 14 feet of perforations.
BHP Billiton is currently drilling Canteen-1 well on Block 2(c), located one
mile to the north of Kiari-1, using the jack-up rig Global Marine Labrador 1
. The well was spudded on              23 October 2001 in a water depth of
164 feet and has encountered hydrocarbon bearing sands, further supporting
the oil and gas potential found in Kiari-1.
Drilling is expected to be completed in the next few weeks, and the final
results will be used to evaluate the size of the discovery and development
planning options. BHP Billiton holds a 45 per cent operating interest in
Block 2(c).
President and Chief Executive Officer BHP Billiton Petroleum Philip Aiken
said: "Trinidad is quickly becoming another core growth area for the Group.
Award of Block 3(a) and the results from drilling on Block 2(c) provide
significant encouragement for potential oil and gas production."
"We are creating shareholder value by our focussed exploration efforts and
by acquiring dominant acreage positions in targeted areas, thereby
leveraging proprietary knowledge and expertise in those plays."
Ongoing evaluation work, including appraisal drilling, is currently being
conducted to determine the size of the hydrocarbon resource discovered in
Block 2(c).  An exploratory drilling program will also be conducted in Block
3(a) as part of the minimum work requirement of the Production Sharing
Contract.
Further information about the BHP Billiton Group can be found at:
http://www.bhpbilliton.com or contact:
Australia                      United Kingdom
Dr. Robert Porter, Investor    Ariane Gentil, Manager
Relations                      Communications
Tel: + 61 3 9609 3540          Tel: +44 20 7747 3977 Mobile:
Mobile: +61 419 587 456        + 44 7881 518 715
email:                         email:
Robert.Porter@bhpbilliton.com  Ariane.Gentil@bhpbilliton.com
Michael Buzzard, Media         United States
Relations                      Francis McAllister, Investor
Tel: +61 3 9609 3709           Relations
Mobile: +61 417 914 103        Tel: +1 713 961 8625 Mobile:
email:                         +1 713 480 3699
Michael.Buzzard@bhpbilliton.c  email:Francis.R.McAllister@bhp
om                             billiton.com
South Africa
Michael Campbell, Investor &
Media Relations
Tel: +27 11 376 3360
Mobile: +27 82 458 2587
email:
Michael.J.Campbell@bhpbillito
n.com