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BHP BILLITON Plc - BHP BILLITON ANNOUNCES OIL FIND WITH SHENZI-2 APPRAISAL WELL
IN THE GULF OF MEXICO
BHP BILLITON Plc
JSE Code: BIL
Issuer Code: BIBLT
ISIN: GB0000566504
NEWS RELEASE
BHP BILLITON ANNOUNCES OIL FIND WITH SHENZI-2 APPRAISAL WELL IN THE GULF OF
MEXICO
BHP Billiton today announced the results of its first appraisal well on the
Shenzi field, discovered last year in the deepwater Gulf of Mexico.
Shenzi-2 began drilling on September 22, 2003, on Green Canyon Block 653 with
the BHP Billiton operated drillship CR Luigs. The well is located in water
depths of 4,238 feet and was drilled to a total depth of 25,500 feet;
encountering approximately 500 feet of net oil pay in a 1,250 foot gross
hydrocarbon column of lower Miocene reservoir sandstones.
Phil Aiken, CEO of BHP Billiton Petroleum said today, "We have drilled a
successful appraisal well on one of our operated discoveries, and this well
result, with excellent quality reservoirs that were appreciably thicker than
those encountered in the first Shenzi well, has significantly extended the scale
of the oil accumulation discovered by Shenzi-1. The discovery is located along
the same geologic trend as our Mad Dog, Atlantis and Neptune fields, and whilst
further appraisal drilling will be required to fully define the reserve size, we
will be working with our partners to begin studying possible development
options."
Following well logging operations and other data collection activities, the
partners are planning to drill a sidetrack out of the existing well bore.
BHP Billiton is the designated operator at Shenzi and holds a 44 percent
interest in the field. Amerada Hess (NYSE: AHC) and BP each hold 28 percent
interest. Shenzi-2 is located approximately two miles southwest of the
discovery well Shenzi-1, which encountered a gross hydrocarbon column of 465
feet with 140 feet of net pay.
BHP Billiton"s exploration and development portfolio in the Gulf of Mexico
includes the development of the Mad Dog (BHP Billiton share 23.9%) and Atlantis
(BHP Billiton share 44%) fields that are due to start production in 2005 and
2006 respectively, and a full appraisal programme on its operated discoveries at
Neptune, Vortex, Cascade, and Chinook. BHP Billiton is among the top
leaseholders in the deepwater Gulf with interests in more than 400 blocks.
****
Further information on BHP Billiton can be found on our Internet site:
http://www.bhpbilliton.com
Australia United Kingdom
Andrew Nairn, Investor Mark Lidiard, Investor &
Relations Media Relations
Tel: +61 3 9609 3952 Mobile: Tel: +44 20 7802 4156
+61 408 313 259 email:
email: Mark.Lidiard@bhpbilliton.com
Andrew.W.Nairn@bhpbilliton.co
m
Tania Price, Media Relations Ariane Gentil, Media
Tel: +61 3 9609 3815 Mobile: Relations
+61 419 152 780 Tel: +44 20 7802 4177
email: email:
Tania.Price@bhpbilliton.com Ariane.Gentil@bhpbilliton.co
m
United States
Francis McAllister, Investor South Africa
Relations Michael Campbell, Investor &
Tel: +1 713 961 8625 Mobile: Media Relations
+1 713 480 3699 Tel: +27 11 376 3360
email: Mobile: +27 82 458 2587
Francis.R.McAllister@bhpbilli email:
ton.com Michael.J.Campbell@bhpbillit
on.com
Date: 12/11/2003 07:43:17 AM Supplied by www.sharenet.co.za
Produced by the JSE SENS Department
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