BIL 201702090007A
Mad Dog Phase 2 Project Investment Approval

BHP Billiton Plc
Registration number 3196209
Registered in England and Wales
Share code: BIL
ISIN: GB0000566504




NEWS RELEASE

Release Time       IMMEDIATE
Date               9 February 2017
Release Number     3/17




BHP BILLITON APPROVES INVESTMENT IN MAD DOG PHASE 2 PROJECT

BHP Billiton today announced that the Board has approved expenditure of
US$2.2 billion for its share of the development of the Mad Dog Phase 2 project in
the Gulf of Mexico.

BHP Billiton holds a 23.9 per cent participating interest in the Mad Dog field. BP, the
operator, holds a 60.5 per cent participating interest, and Union Oil Company of
California, an affiliate of Chevron U.S.A. Inc., holds the remaining 15.6 per cent
participating interest. During the fourth quarter of 2016, BP sanctioned the Mad Dog
Phase 2 project.

Mad Dog Phase 2, located in the Green Canyon area in the Deepwater Gulf of
Mexico, is a southern and southwestern extension of the existing Mad Dog field. The
project includes a new floating production facility with the capacity to produce up to
140,000 gross barrels of crude oil per day from up to 14 production wells. Production
is expected to begin in the 2022 financial year.

Steve Pastor, BHP Billiton President Operations Petroleum, said “Mad Dog Phase 2
is one of the largest, discovered and undeveloped resources in the Gulf of Mexico,
one of BHP Billiton’s preferred conventional deep-water basins. It offers an attractive
investment opportunity for BHP Billiton and aligns with our strategic objective to build
our conventional portfolio through the development of large, long-life, high-quality
resources”.

Further information on BHP Billiton can be found at: bhpbilliton.com

Sponsor: UBS South Africa (Pty) Limited


Media Relations                                   Investor Relations

Australia and Asia                                Australia and Asia

Matthew Martyn-Jones                              Tara Dines
Tel: +61 3 9609 2360 Mobile +61 419 418 394       Tel: +61 3 9609 2222 Mobile: +61 499 249 005
Email: Matthew.Martyn-Jones@bhpbilliton.com       Email: Tara.Dines@bhpbilliton.com

Paul Hitchins                                     Andrew Gunn
Tel: +61 3 9609 2592 Mobile +61 419 315 001       Tel: +61 3 9609 3575 Mobile: +61 402 087 354
Email: Paul.Hitchins@bhpbilliton.com              Email: Andrew.Gunn@bhpbilliton.com

Fiona Hadley                                      United Kingdom and South Africa
Tel: +61 3 9609 2211 Mobile +61 427 777 908
Email: Fiona.Hadley@bhpbilliton.com               Rob Clifford
                                                  Tel: +44 20 7802 4131 Mobile: +44 7788 308 844
Amanda Saunders                                   Email: Rob.Clifford@bhpbilliton.com
Tel: +61 3 9609 3985 Mobile +61 417 487 973
Email: Amanda.Saunders@bhpbilliton.com            Elisa Morniroli
                                                  Tel: +44 20 7802 7611 Mobile: +44 7825 926 646
United Kingdom and South Africa                   Email: Elisa.Morniroli@bhpbilliton.com

Ruban Yogarajah                                   Americas
Tel: +44 207 802 4033 Mobile +44 7827 082 022
Email: Ruban.Yogarajah@bhpbilliton.com            James Wear
                                                  Tel: +1 713 993 3737 Mobile: +1 347 882 3011
North America                                     Email: James.Wear@bhpbilliton.com

Bronwyn Wilkinson
Mobile: +1 604 340 8753
Email: Bronwyn.Wilkinson@bhpbilliton.com




BHP Billiton Limited ABN 49 004 028 077           BHP Billiton Plc Registration number 3196209
LEI WZE1WSENV6JSZFK0JC28                          LEI 549300C116EOWV835768
Registered in Australia                           Registered in England and Wales
Registered Office: Level 18, 171 Collins Street   Registered Office: Neathouse Place
Melbourne Victoria 3000 Australia                 London SW1V 1LH United Kingdom
Tel +61 1300 55 4757 Fax +61 3 9609 3015          Tel +44 20 7802 4000 Fax +44 20 7802 4111


Members of the BHP Billiton Group which is
headquartered in Australia

Follow us on social media

Date: 09/02/2017 08:29:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.