24th Jul 2007 07:00
BHP Billiton PLC24 July 2007 24 July 2007Number 24/07 BHP BILLITON QUARTERLY REPORT ON EXPLORATION AND DEVELOPMENT ACTIVITIES QUARTER ENDED 30 JUNE 2007 This report covers the company's exploration and development activities for thequarter ended 30 June 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 In July, the Company announced the sanctioning of the Pyrenees Project, an oiland gas project off the west coast of Australia. Progress of Pyrenees will nowbe reported each quarter. PROJECT AND SHARE OF INITIAL PRODUCTION QUARTERLY PROGRESS OWNERSHIP APPROVED PRODUCTION CAPACITY CAPEX US$M TARGET DATE (100%) Petroleum Projects Genghis Khan 365 2H CY07 55,000 barrels On budget. Drilling of first 44% of oil per day well continued during the Oil/Gas Atlantis South (US) 1,500 2H CY07 200,000 Cost remains under review. 44% barrels of oil Seven development wells are nowOil/Gas and 180 complete and drilling has million cubic commenced on the eighth well. feet of gas The Balder installation vessel per day completed 3 flow lines. Commissioning of the production facilities continued. Neptune (US) 300 End CY07 50,000 barrels On schedule however drilling 35% of oil and 50 and construction costs continueOil/Gas million cubic to be under review. The hull feet gas per and topsides were successfully day installed, and flowlines and export lines connected. Four of seven wells have been drilled with one completed. Stybarrow (Australia) 380 Q1 CY08 80,000 barrels On schedule. Capital costs of oil per day increased to $380 million following completion of the 50% review. Three of five producing wells and three of four injector wells have Oil/Gas been drilled and completed. Mechanical completion and commissioning of the FPSO topsides and installation of subsea equipment continued during the quarter. North West 200 End CY08 800 million On schedule and budget. Shelf Angel cubic feet Topsides and jacket (Australia) gas per day fabrication progressing. 16.67% Last of 3 wells completed. Oil/Gas North West 300 Late CY08 LNG processing On schedule and revised Shelf Train 5 capacity of 4.2 budget as advised by the (Australia) million tpa Operator. All 17 module 16.67% shipments have been LNG received. Onsite construction and hookup progressing. Shenzi (US) 1,940 Mid CY09 100,000 barrels On schedule and budget. Hull44% of oil and 50 and topsides fabrication Oil/Gas million cubic continues. Drilled second of feet gas per six development wells to day total depth during the quarter. Minerals Projects Alumar - 725 Q2 CY09 2 million tpa On revised schedule andRefinery budget. Detailed engineeringExpansion is nearing completion, with (Brazil) procurement and construction 36% progressing.Alumina Koala 200 End CY07 3,300 tonnes On schedule and budget. Underground per day ore During the quarter, (Canada) processed underground tunnelling 80% completed for critical Diamonds access. Procurement is almost complete and engineering is complete with the exception of construction support. Ravensthorpe 2,200 Q1 CY08 Up to 50,000 On revised schedule and (Australia) tpa contained budget. Construction is 100% nickel in nearing completion. concentrate Pre-commissioning is more Nickel than 40% complete and wet commissioning is under way in the front end of the process plant. Process commissioning is in progress throughout the utilities areas. Yabulu 556 Q1 CY08 45,000 tpa On revised schedule and(Australia) nickel budget. The Yabulu Expansion100% is mechanically complete and commissioning will start Nickel ahead of delivery of feed from Ravensthorpe. Iron Ore 1,300 Q4 CY07 20 million tpa On schedule and budget. (Western Engineering and procurement Australia) activities are essentially RGP3 complete, with construction 85% activities now 65% complete. Initial commissioning Iron Ore activities have started. Iron Ore 1,850 1H CY10 26 million tpa On schedule and budget. (Western Engineering activities are Australia) proceeding to schedule, withRGP4 some early procurement 86.2% underway. Iron Ore Samarco Third 590 1H CY08 7.6 million tpa On schedule and budget.Pellet Plant Total project progress 75% (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 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 Zambia; 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 twelve months ended 30 June 2007, BHP Billiton spent US$410 million onminerals exploration of which US$288 million was expensed. Olympic Dam, NickelWest, Western Australia Iron Ore and Diamonds and Speciality Products (potashand diamonds exploration) accounted for much of the increase in explorationexpenditure over the previous year. Capitalised exploration included US$86million for the Olympic Dam Expansion. PETROLEUM EXPLORATION Exploration and appraisal wells drilled during the quarter or in the process of drilling as at 30 June 2007. WELL LOCATION BHP BILLITON EQUITY STATUS Shenzi-6 - Gulf of Mexico 44% BHP Billiton and Hydrocarbons encountered. Side Track 1 Green Canyon operator Temporarily plugged and Block 610 abandoned. Puma-3 Gulf of Mexico 29.805% BHP Billiton (BP Hydrocarbons encountered. Green Canyon operator) Temporarily plugged and Block 866 abandoned. Calliance-2 Browse Basin 20% BHP Billiton Hydrocarbons encountered. (Woodside operator) Additional appraisal Western Australia required. Plugged and WA-28-R abandoned. Crosby West -1 Exmouth sub-basin 71.43% BHP Billiton and Dry hole. Plugged and Western Australia operator abandoned. WA-12-R Snarf -1 Browse Basin 20% BHP Billiton Drilling suspended. Western Australia (Woodside operator) Waiting on rig to continue WA-275-P drilling. Further information on BHP Billiton can be found on our Internet site:www.bhpbilliton.com Australia 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] 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 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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