24th Apr 2007 07:00
BHP Billiton PLC24 April 2007 24 April 2007Number 13/07 BHP BILLITON QUARTERLY REPORT ON EXPLORATION AND DEVELOPMENT ACTIVITIES QUARTER ENDED 31 MARCH 2007 This report covers the company's exploration and development activities for thequarter ended 31 March 2007. Unless otherwise stated, BHP Billiton's interest inthe projects referred to in this report is 100 per cent and references toproject schedules are based on calendar years. DEVELOPMENT During the quarter, the Company announced the sanctioning of the Rapid GrowthProject 4 (RGP4) at its Western Australia Iron Ore operations. RGP4's progresswill now be reported each quarter. Also during the quarter, the Company finalised the acquisition of the GenghisKhan oil and gas development in the Gulf of Mexico. Genghis Khan's progress willnow be reported each quarter. PROJECT AND SHARE OF INITIAL PRODUCTION PRODUCTION QUARTERLY PROGRESSOWNERSHIP APPROVED CAPEX TARGET DATE CAPACITY (100%) US$MPetroleum ProjectsGenghis Khan 365 Mid CY07 55,000 barrels of Acquisition completed. Rig to be44% oil per day mobilised by May 2007 to completeOil/Gas the existing well.Atlantis South (US) 1,500 Under review, 200,000 barrels of Seven development wells have been44% forecast 2H CY07 oil and 180 drilled with six of these wellsOil/Gas million cubic feet having been completed at the end of of gas per day March. The Balder installation vessel has recommenced installing flow lines.Neptune (US) 300 End CY07 50,000 barrels of On schedule however drilling and35% oil and 50 million construction costs are underOil/Gas cubic feet gas per review. The subsea oil and gas day export and all well flow lines have been installed. Four wells have been drilled and completions are commencing.Stybarrow 300 Q1 CY08 80,000 barrels of On schedule however drilling and(Australia) oil per day construction costs are under50% review. Two producing wells and twoOil/Gas injector wells have been drilled and completed. Drilling of the fourth producing well has commenced. The FPSO hull has been delivered and the integration of topside modules and the mooring turret are progressing. Offshore installation activities are underway.North West Shelf 200 End CY08 800 million cubic On budget and schedule. TopsidesAngel (Australia) feet gas per day and jacket fabrication progressing.16.67%Oil/GasNorth West Shelf 300 Late CY08 LNG processing On schedule and revised budget asTrain 5 capacity of 4.2 advised by the Operator. 10 of 17(Australia) million tpa module shipments have been16.67% received. Last module shipment isLNG scheduled for May 2007.Shenzi (US) 1,940 Mid CY09 100,000 barrels of On budget and schedule. Hull and44% oil and 50 million topsides fabrication continues.Oil/Gas cubic feet gas per dayMinerals ProjectsAlumar - Refinery 725 Q2 CY09 2 million tpa On revised budget and schedule.Expansion (Brazil) Detailed engineering is 60%36% complete, procurement is 35%Alumina complete and construction stands at 10% complete.Koala Underground 200 End CY07 3,300 tonnes per On schedule and budget. During the(Canada) day ore processed quarter, underground tunnelling80% continued and the mine ventilationDiamonds facilities were completed. Procurement is well advanced and engineering is complete.Ravensthorpe 2,200 Q1 CY08 Up to 50,000 tpa On revised schedule and budget.(Australia) contained nickel Construction has passed 90%100% in concentrate complete with activities nowNickel focused on piping completion and electrical and instrumentation installation. Pre-commissioning and commissioning of various areas including the Compressor Plant and Ore Preparation facilities is in progress. First ore was delivered during the quarter.Yabulu (Australia) 556 Q1 CY08 45,000 tpa nickel The Yabulu Expansion is100% mechanically complete andNickel commissioning will start ahead of delivery of feed from Ravensthorpe.Iron Ore (Western 1,300 Q4 CY07 20 million tpa On schedule and budget. EngineeringAustralia) and procurement activities areRGP3 essentially complete, with85% construction activities now 53%Iron Ore complete.Iron Ore (Western 1,850 1H CY10 26 million tpa The project was approved on 23Australia) March 2007 and work has commenced.RGP486.2%Iron OreSamarco Third Pellet 590 1H CY08 7.6 million tpa On schedule and budget. ThePlant (Brazil) pipeline is 75% complete with total50% project progress being 61%Iron Ore complete. MINERALS EXPLORATION BHP Billiton continued to pursue global exploration opportunities for keycommodities of interest utilising both in-house capabilities and the JuniorAlliance Programme. Grassroots exploration continued on diamond targets in Angola, Canada and theDemocratic Republic of Congo (DRC), on copper targets in Australia, Chile,Mongolia, the DRC and USA; and on nickel targets in Australia, Russia andAfrica. Exploration for iron ore, coal, potash and bauxite was undertaken in anumber of regions including Australia, Brazil, Canada and West Africa. For the nine months ended 31 March 2007, BHP Billiton spent US$227 million onminerals exploration of which US$166 million was expensed. PETROLEUM EXPLORATION Exploration and appraisal wells drilled during the quarter or in the process ofdrilling as at 31 March 2007. WELL LOCATION BHP BILLITON EQUITY STATUSShenzi-6 Gulf of Mexico 44% BHP Billiton and Hydrocarbons encountered. Green Canyon operator Additional appraisal Block 609 required. Plugged and abandoned.Shenzi-6 - Gulf of Mexico 44% BHP Billiton and Drilling ahead.Side Track 1 Green Canyon operator Block 610Puma-2 Gulf of Mexico 29.805% BHP Billiton (BP Drilling suspended. Green Canyon operator) Additional appraisal Block 821 required. Temporarily plugged and abandoned.Puma-3 Gulf of Mexico 29.805% BHP Billiton (BP Drilling ahead. Green Canyon operator) Block 866Torosa-2 Browse Basin 8.33% BHP Billiton Hydrocarbons encountered. Western Australia (Woodside operator) Under evaluation. WAR Plugged and abandoned.Sculptor-2 Dampier Basin 16.67% BHP Billiton Hydrocarbons encountered. Western Australia (Woodside operator) Under evaluation. Plugged WA-24-R and abandoned.Sculptor-3 Dampier Basin 16.67% BHP Billiton Hydrocarbons encountered. Western Australia (Woodside operator) Under evaluation. Plugged WA-24-R and abandoned.Calliance-2 Browse Basin 20% BHP Billiton (Woodside Drilling ahead. Western Australia operator) WA-28-RRuby-2 Trinidad and Tobago 25.5% BHP Billiton and Dry hole. Plugged and Block 3 (a) operator abandoned. Petroleum exploration expenditure for the nine months ended 31 March 2007 wasUS$265 million. The amount expensed was US$206 million which includes US$43million of exploration expenditure previously capitalised. Further information on BHP Billiton can be found on our Internet site:www.bhpbilliton.comAustralia United KingdomSamantha Evans, Media Relations Mark Lidiard, Investor & Media RelationsTel: +61 3 9609 2898 Mobile: +61 400 693 915 Tel: +44 20 7802 4156 Mobile: +44 7769 934 942email: [email protected] email: [email protected] Jane Belcher, Investor Relations Illtud Harri, Media RelationsTel: +61 3 9609 3952 Mobile: +61 417 031 653 Tel: +44 20 7802 4195 Mobile: +44 7920 237 246email: [email protected] email: [email protected] 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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