19th Dec 2007 07:00
BHP Billiton PLC19 December 2007 19 December 2007Number 40/07 BHP BILLITON APPROVES KIPPER GAS FIELD DEVELOPMENT OFFSHORE VICTORIA BHP Billiton today announced that participants in the Kipper Gas FieldDevelopment have approved the first phase of development of the Gippsland Basinfield located offshore Victoria to produce new supplies of natural gas andliquids through new and existing Bass Strait facilities. The first phase of the project includes two new subsea wells, three newpipelines and platform modifications. Gas and liquids will be processed via Essoand BHP Billiton's Gippsland Joint Venture facilities. The Kipper field islocated approximately 45 kilometres from shore in about 100 metres of water, andhas a confirmed resource of approximately 620 billion cubic feet of recoverablegas and 30 million barrels of condensate/LPG. Estimated field life is 15 years. First production is expected in calendar year 2011. Costs for this phase of the development of the Kipper gas field and relatedGippsland Basin infrastructure are approximately US$1.1 billion, of which BHPBilliton's share is 45 per cent (approximately US$500 million). BHP Billiton Chief Executive Petroleum, J. Michael Yeager, said the Kipperdevelopment is a welcome expansion to BHP Billiton's producing assets in BassStrait. "After over 30 years of production, our Gippsland Basin holdings continue toprovide significant development opportunities and Kipper is the latest addition.Also, Kipper will be an important part of our Eastern Australia gas supplyportfolio and will allow us to meet expected South Eastern Australia gasdemand." The Kipper Unit Joint Venture (KUJV) production will be the first gas to use theEsso-BHP Billiton Gippsland Basin joint venture facility that has third-partyownership. The KUJV participants are: Esso Australia (32.5% and operator); BHP Billiton(32.5%); and Santos (35%). The Gippsland Joint Venture participants are: EssoAustralia (50% and operator); BHP Billiton (50%). Further information on BHP Billiton can be found on our Internet site:www.bhpbilliton.com Australia United KingdomSamantha Evans, Media Relations Andre Liebenberg, Investor RelationsTel: +61 3 9609 2898 Mobile: +61 400 693 915 Tel: +44 20 7802 4131 Mobile: +44 7920 236 974email: [email protected] email: [email protected] Don Carroll, Investor Relations Illtud Harri, Media RelationsTel: +61 3 9609 2686 Mobile: +61 417 591 938 Tel: +44 20 7802 4195 Mobile: +44 7920 237 246email: [email protected] email: [email protected] United States South AfricaTracey Whitehead, Investor & Media Relations Alison Gilbert, Investor RelationsTel: US +1 713 599 6100 or UK +44 20 7802 4031 Tel: SA +27 11 376 2121 or UK +44 20 7802 4183Mobile: +44 7917 648 093 Mobile: +44 7769 936 227email: [email protected] Email: [email protected] BHP Billiton Limited ABN 49 004 028 077 BHP Billiton Plc Registration number 3196209Registered in Australia Registered in England and WalesRegistered Office: Level 27, 180 Lonsdale Street Melbourne Registered Office: Neathouse Place London SW1V 1BH UnitedVictoria 3000 KingdomTelephone +61 1300 554 757 Facsimile +61 3 9609 3015 Telephone +44 20 7802 4000 Facsimile +44 20 7802 4111 The BHP Billiton Group is headquartered in Australia This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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