23rd Oct 2007 07:00
BHP Billiton PLC23 October 2007 23 October 2007Number 31/07 BHP BILLITON QUARTERLY REPORT ON EXPLORATION AND DEVELOPMENT ACTIVITIES QUARTER ENDED 30 SEPTEMBER 2007 This report covers the company's exploration and development activities for thequarter ended 30 September 2007. This report together with the Production Reportrepresents the Interim Management Statement for the purposes of the UK ListingAuthority's Disclosure and Transparency Rules. There have been no significantchanges in the financial position of the Group in the quarter ended 30 September2007. Unless otherwise stated, BHP Billiton's interest in the projects referredto in this report is 100 per cent and references to project schedules are basedon calendar years. DEVELOPMENT In October, oil production commenced at the Genghis Khan and Atlantis fields inthe Gulf of Mexico. These projects will not be reported in future Explorationand Development Reports.+------------------+------------+-------------+-------------+------------------------------+|PROJECT AND |SHARE OF |INITIAL |PRODUCTION |QUARTERLY PROGRESS ||OWNERSHIP |APPROVED |PRODUCTION |CAPACITY | || |CAPEX US$M |TARGET DATE |(100%) | |+------------------+------------+-------------+-------------+------------------------------+|Petroleum Projects| | | | |+------------------+------------+-------------+-------------+------------------------------+|Genghis Khan(US) | 365|2H CY07 |55,000 |First well was completed ||44% | | |barrels of |during the quarter. First oil ||Oil/Gas | | |oil per day |announced, see || | | | |News@BHPBilliton dated 8 || | | | |October 2007. |+------------------+------------+-------------+-------------+------------------------------+|Atlantis South | 1,630|2H CY07 |200,000 |On schedule and on revised ||(US) | | |barrels of |budget. Nine production wells ||44% | | |oil and 180 |have been drilled and seven ||Oil/Gas | | |million cubic|completed. The first well is || | | |feet of gas |online and the field will || | | |per day |begin ramping up oil and gas || | | | |production towards the end of || | | | |this calendar year. || | | | | || | | | | |+------------------+------------+-------------+-------------+------------------------------+|Neptune (US) | 405|Q1 CY08 |50,000 |On revised budget, and ||35% | | |barrels of |schedule moved to Q1 CY08. ||Oil/Gas | | |oil and 50 |Offshore hookup and || | | |million cubic|commissioning of pipelines and|| | | |feet gas per |topsides continued. Four of || | | |day |seven wells have been drilled || | | | |with two completed. |+------------------+------------+-------------+-------------+------------------------------+|Stybarrow | 380|End CY07 |80,000 |On revised budget and schedule||(Australia) | | |barrels of |moved forward to end CY07. ||50% | | |oil per day |Three of five producing wells ||Oil/Gas | | | |and all injector wells have || | | | |been drilled and completed. || | | | |FPSO now on location and || | | | |installation of subsea || | | | |equipment continued. |+----------------+-+------------+-------------+-------------+------------------------------+|PROJECT AND |SHARE OF |INITIAL |PRODUCTION |QUARTERLY PROGRESS ||OWNERSHIP |APPROVED CAPEX|PRODUCTION |CAPACITY | || |US$M |TARGET DATE |(100%) | |+----------------+--------------+-------------+-------------+------------------------------+|Petroleum | | | | ||Projects | | | | |+----------------+--------------+-------------+-------------+------------------------------+|North West Shelf| 200|End CY08 |800 million |On schedule and budget. ||Angel | | |cubic feet |Topsides fabrication ||(Australia) | | |gas per day |continued. Jacket completed ||16.67% | | | |and loaded out ready for sail ||Oil/Gas | | | |away. |+----------------+--------------+-------------+-------------+------------------------------+|North West Shelf| 350|Late CY08 |LNG |On schedule and revised budget||Train 5 | | |processing |as advised by the Operator. ||(Australia) | | |capacity of |Onsite construction and hookup||16.67% | | |4.2 million |progressing. ||LNG | | |tpa | |+----------------+--------------+-------------+-------------+------------------------------+|Shenzi (US) | 1,940|Mid CY09 |100,000 |On schedule and budget. Hull ||44% | | |barrels of |and topsides fabrication ||Oil/Gas | | |oil and 50 |continues. The top section on || | | |million cubic|the third of six development || | | |feet gas per |wells was drilled. || | | |day | |+----------------+--------------+-------------+-------------+------------------------------+|Pyrenees | 1,200|1H CY10 |96,000 |On schedule and budget. FPSO ||(Australia) | | |barrels of |with 9 producing wells and 4 ||71.43% | | |oil and 60 |injection wells in 200m water ||Oil/Gas | | |million cubic|depth. Contracts for FPSO, || | | |feet gas per |subsea components and || | | |day |installation signed. |+----------------+--------------+-------------+-------------+------------------------------+|Minerals | | | | ||Projects | | | | |+----------------+--------------+-------------+-------------+------------------------------+|Alumar - | 725|Q2 CY09 |2 million tpa|On revised schedule and ||Refinery | | | |budget, project is 56% ||Expansion | | | |complete. Detailed engineering||(Brazil) | | | |is nearing completion, with ||36% | | | |procurement and construction ||Alumina | | | |progressing. |+----------------+--------------+-------------+-------------+------------------------------+|Pinto Valley | 140|Q4 CY07 |70,000 tpa |On schedule and budget. ||Restart (USA) | | |Copper in |Construction is 98% complete. ||100% | | |concentrate |Commissioning of the ||Copper | | | |concentrator has commenced. |+----------------+--------------+-------------+-------------+------------------------------+|Koala | 200|End CY07 |3,300 tonnes |First kimberlite production ||Underground | | |per day ore |blast during October. Ahead of||(Canada) | | |processed |schedule and within budget. ||80% | | | | ||Diamonds | | | | |+----------------+--------------+-------------+-------------+------------------------------+|Ravensthorpe | 2,200|Q1 CY08 |Up to 50,000 |On revised schedule and ||(Australia) | | |tpa contained|budget. Construction and ||100% | | |nickel in |pre-commissioning are ||Nickel | | |concentrate |essentially complete with only|| | | | |10% wet commissioning || | | | |remaining. Process || | | | |commissioning of the plant has|| | | | |commenced and is progressing || | | | |to schedule. || | | | | || | | | |Utilities are advanced with || | | | |beneficiation and atmospheric || | | | |leach in early stages of || | | | |commissioning. || | | | | || | | | |The first Pressure Acid Leach || | | | |circuit is ready to commence || | | | |process commissioning. |+----------------+-+------------+-------------+-------------+------------------------------++----------------+-+------------+-------------+-------------+------------------------------+ +-----------------+-------------+-------------+-------------+------------------------------+|PROJECT AND |SHARE OF |INITIAL |PRODUCTION |QUARTERLY PROGRESS ||OWNERSHIP |APPROVED |PRODUCTION |CAPACITY | || |CAPEX US$M |TARGET DATE |(100%) | |+-----------------+-------------+-------------+-------------+------------------------------+|Minerals Projects| | | | |+-----------------+-------------+-------------+-------------+------------------------------+|Yabulu | 556|Q1 CY08 |45,000 tpa |On revised schedule and ||(Australia) | | |nickel |budget. The Yabulu Expansion ||100% | | | |is mechanically complete and ||Nickel | | | |commissioned. Ramp up will || | | | |commence with the delivery of || | | | |feed from Ravensthorpe. |+-----------------+-------------+-------------+-------------+------------------------------+|Cliffs Nickel | 139|1H CY08 |360,000 tpa |On schedule and budget. Total ||Project | | |nickel ore |project progress 15% complete.||100% | | | |Major activities in the ||Nickel | | | |current quarter included work || | | | |on ventilation shafts, || | | | |underground development and || | | | |earthworks. |+-----------------+-------------+-------------+-------------+------------------------------+|Iron Ore (Western| 1,300|Q4 CY07 |20 million |On schedule and budget. ||Australia) | | |tpa |Engineering and procurement ||RGP3 | | | |activities are complete, with ||85% | | | |construction activities now ||Iron Ore | | | |85% complete. Commissioning || | | | |activities have commenced. |+-----------------+-------------+-------------+-------------+------------------------------+|Iron Ore (Western| 1,850|1H CY10 |26 million |On schedule and budget. ||Australia) | | |tpa |Engineering progress is now ||RGP4 | | | |over 50% complete with ||86.2% | | | |procurement work continuing. ||Iron Ore | | | |Earthwork contractors are || | | | |mobilised at all sites. |+-----------------+-------------+-------------+-------------+------------------------------+|Samarco Third | 590|1H CY08 |7.6 million |On schedule and budget. Total ||Pellet Plant | | |tpa |project progress is 86% ||(Brazil) | | | |complete. ||50% | | | | ||Iron Ore | | | | |+-----------------+-------------+-------------+-------------+------------------------------+ MINERALS EXPLORATION BHP Billiton continued to pursue global exploration opportunities for keycommodities of interest utilising both in-house capabilities and partnerships. Grassroots exploration continued on diamond targets in Angola and the DemocraticRepublic of Congo (DRC), on copper targets in Australia, Chile, Mongolia, theDRC and Kazakhstan; and on nickel targets in Australia, Brazil and Africa,including Burundi and Tanzania. Exploration for iron ore, coal, potash andbauxite was undertaken in a number of regions including Australia, South America, Canada and West Africa. Brownfield exploration continued around existing operations. For the three months ended 30 September 2007, BHP Billiton spent US$143 millionon minerals exploration of which US$109 million was expensed. PETROLEUM EXPLORATION Exploration and appraisal wells drilled during the quarter or in the process ofdrilling as at 30 September 2007.+-------------------+-------------------+------------------------+-------------------------+|WELL |LOCATION |BHP BILLITON EQUITY |STATUS |+-------------------+-------------------+------------------------+-------------------------+|Big Foot North-1 |Green Canyon |55% BHP Billiton and |Drilling suspended. || |Gulf of Mexico |operator |Waiting on rig to || |GC-953 | |continue drilling. |+-------------------+-------------------+------------------------+-------------------------+|Kugler-1 |Trinidad & Tobago |25.5% BHP Billiton |Hydrocarbons encountered.|| |Block 3(b) |(Anadarko operator) |Plugged and abandoned. |+-------------------+-------------------+------------------------+-------------------------+|Kairi Horst |Trinidad & Tobago |45% BHP Billiton and |Hydrocarbons encountered.||(KAI-B12) |Block 2(c) |operator | || | | |Well completed. |+-------------------+-------------------+------------------------+-------------------------+|Thebe-1 |Exmouth Plateau |100% BHP Billiton and |Encountered approximately|| |Western Australia |operator |240 feet of gas column. || |WA-346-P | | || | | |Additional appraisal || | | |required. || | | | || | | |Plugged and abandoned. || | | | || | | |See News@BHPBilliton || | | |dated 13 August 2007. |+-------------------+-------------------+------------------------+-------------------------+|Torosa-4 |Browse Basin |8.33% BHP Billiton |Drilling suspended. || |Western Australia |(Woodside operator) |Waiting on rig to || |WAR | |continue drilling. |+-------------------+-------------------+------------------------+-------------------------+|Snarf -1 |Browse Basin |20% BHP Billiton |Drilling suspended. || |Western Australia |(Woodside operator) |Waiting on rig to || |WA-275-P | |continue drilling. |+-------------------+-------------------+------------------------+-------------------------+|Lady Nora-1 |Carnarvon Basin |16.67% BHP Billiton |Hydrocarbons encountered.|| |Western Australia |(Woodside operator) |Plugged and abandoned. || |WA-28-P | | |+-------------------+-------------------+------------------------+-------------------------+|Glenridding-1 |Exmouth sub-basin |50% BHP Billiton and |Dry hole. Plugged and || |Western Australia |operator |abandoned. || |WA-32-L | | |+-------------------+-------------------+------------------------+-------------------------+ Petroleum exploration expenditure for the three months ended 30 September 2007was US$124 million of which US$72 million was expensed. Further information on BHP Billiton can be found on our website:www.bhpbilliton.com Australia United Kingdom Samantha Evans, Andre Liebenberg, Media Relations Investor Relations Tel: +61 3 9609 2898 Tel: +44 20 7802 4131 Mobile: +61 400 693 915 Mobile: +44 7920 236 974 email: [email protected] email: [email protected] Jane Belcher, Illtud Harri, Investor Relations Media Relations Tel: +61 3 9609 3952 Tel: +44 20 7802 4195 Mobile: +61 417 031 653 Mobile: +44 7920 237 246 email: [email protected] email: [email protected] United States South Africa Tracey Whitehead, Alison Gilbert, Investor & Media Relations Investor Relations Tel: US +1 713 599 6100 or Tel: SA +27 11 376 2121 or UK +44 20 7802 4031 UK +44 20 7802 4183 Mobile: +44 7917 648 093 Mobile: +44 7769 936 227 email: [email protected] Email: [email protected] BHP Billiton Limited BHP Billiton Plc Registration number 3196209 ABN 49 004 028 077 Registered in England and Wales Registered in Australia Registered Office: Registered Office: Neathouse Place Level 27, London 180 Lonsdale Street SW1V 1BH Melbourne Victoria 3000 United Kingdom Telephone +61 1300 554 757 Telephone +44 20 7802 4000 Facsimile +61 3 9609 3015 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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