UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
|
BHP BILLITON LIMITED (ABN 49 004 028 077) (Exact name of Registrant as specified in its charter)
VICTORIA, AUSTRALIA (Jurisdiction of incorporation or organisation)
180 LONSDALE STREET, MELBOURNE, VICTORIA 3000 AUSTRALIA (Address of principal executive offices) |
BHP BILLITON PLC (REG. NO. 3196209) (Exact name of Registrant as specified in its charter)
ENGLAND AND WALES (Jurisdiction of incorporation or organisation)
NEATHOUSE PLACE, VICTORIA, LONDON, UNITED KINGDOM (Address of principal executive offices) |
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23 October 2007
Number 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 the quarter ended 30 September 2007. This report together with the Production Report represents the Interim Management Statement for the purposes of the UK Listing Authority's Disclosure and Transparency Rules. There have been no significant changes in the financial position of the Group in the quarter ended 30 September 2007. Unless otherwise stated, BHP Billiton's interest in the projects referred to in this report is 100 per cent and references to project schedules are based on calendar years.
DEVELOPMENT
In October, oil production commenced at the Genghis Khan and Atlantis fields in the Gulf of Mexico. These projects will not be reported in future Exploration and Development Reports.
|
PROJECT AND OWNERSHIP |
SHARE OF APPROVED CAPEX US$M |
INITIAL PRODUCTION TARGET DATE |
PRODUCTION CAPACITY (100%) |
QUARTERLY PROGRESS |
|
|
Petroleum Projects |
|||||
|
Genghis Khan(US) Oil/Gas |
365 |
2H CY07 |
55,000 barrels of oil per day |
First well was completed during the quarter. First oil announced, see News@BHPBilliton dated 8 October 2007. |
|
|
Atlantis South (US) Oil/Gas
|
1,630 |
2H CY07 |
200,000 barrels of oil and 180 million cubic feet of gas per day |
On schedule and on revised budget. Nine production wells have been drilled and seven completed. The first well is online and the field will begin ramping up oil and gas production towards the end of this calendar year. |
|
|
Neptune (US) Oil/Gas |
405 |
Q1 CY08 |
50,000 barrels of oil and 50 million cubic feet gas per day |
On revised budget, and schedule moved to Q1 CY08. Offshore hookup and commissioning of pipelines and topsides continued. Four of seven wells have been drilled with two completed. |
|
|
Stybarrow Oil/Gas
|
380 |
End CY07 |
80,000 barrels of oil per day |
On revised budget and schedule moved forward to end CY07. Three of five producing wells and all injector wells have been drilled and completed. FPSO now on location and installation of subsea equipment continued. |
|
|
PROJECT AND OWNERSHIP |
SHARE OF APPROVED CAPEX US$M |
INITIAL PRODUCTION TARGET DATE |
PRODUCTION CAPACITY (100%) |
QUARTERLY PROGRESS |
|
|
Petroleum Projects |
|||||
|
North West Shelf Angel (Australia) Oil/Gas |
200 |
End CY08 |
800 million cubic feet gas per day |
On schedule and budget. Topsides fabrication continued. Jacket completed and loaded out ready for sail away. |
|
|
North West Shelf Train 5 LNG |
350 |
Late CY08 |
LNG processing capacity of 4.2 million tpa |
On schedule and revised budget as advised by the Operator. Onsite construction and hookup progressing. |
|
|
Shenzi (US) Oil/Gas |
1,940 |
Mid CY09 |
100,000 barrels of oil and 50 million cubic feet gas per day |
On schedule and budget. Hull and topsides fabrication continues. The top section on the third of six development wells was drilled. |
|
|
Pyrenees Oil/Gas |
1,200 |
1H CY10 |
96,000 barrels of oil and 60 million cubic feet gas per day |
On schedule and budget. FPSO with 9 producing wells and 4 injection wells in 200m water depth. Contracts for FPSO, subsea components and installation signed. |
|
|
Minerals Projects |
|||||
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Alumar - Refinery Expansion (Brazil) Alumina |
725 |
Q2 CY09 |
2 million tpa |
On revised schedule and budget, project is 56% complete. Detailed engineering is nearing completion, with procurement and construction progressing. |
|
|
Pinto Valley Restart (USA)100% Copper |
140 |
Q4 CY07 |
70,000 tpa Copper in concentrate |
On schedule and budget. Construction is 98% complete. Commissioning of the concentrator has commenced. |
|
|
Koala Underground (Canada) Diamonds |
200 |
End CY07 |
3,300 tonnes per day ore processed |
First kimberlite production blast during October. Ahead of schedule and within budget. |
|
|
Ravensthorpe (Australia) Nickel |
2,200 |
Q1 CY08 |
Up to 50,000 tpa contained nickel in concentrate |
On revised schedule and budget. Construction and pre-commissioning are 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 OWNERSHIP |
SHARE OF APPROVED CAPEX US$M |
INITIAL PRODUCTION TARGET DATE |
PRODUCTION CAPACITY (100%) |
QUARTERLY PROGRESS |
|
Minerals Projects |
||||
|
Yabulu (Australia) Nickel |
556 |
Q1 CY08 |
45,000 tpa nickel |
On revised schedule and budget. The Yabulu Expansion is mechanically complete and commissioned. Ramp up will commence with the delivery of feed from Ravensthorpe. |
|
Cliffs Nickel Project Nickel |
139 |
1H CY08 |
360,000 tpa nickel ore |
On schedule and budget. Total project progress 15% complete. Major activities in the current quarter included work on ventilation shafts, underground development and earthworks. |
|
Iron Ore (Western Australia) Iron Ore |
1,300 |
Q4 CY07 |
20 million tpa |
On schedule and budget. Engineering and procurement activities are complete, with construction activities now 85% complete. Commissioning activities have commenced. |
|
Iron Ore (Western Australia) Iron Ore |
1,850 |
1H CY10 |
26 million tpa |
On schedule and budget. Engineering progress is now over 50% complete with procurement work continuing. Earthwork contractors are mobilised at all sites. |
|
Samarco Third Pellet Plant (Brazil) Iron Ore |
590
|
1H CY08 |
7.6 million tpa |
On schedule and budget. Total project progress is 86% complete. |
MINERALS EXPLORATION
BHP Billiton continued to pursue global exploration opportunities for key commodities of interest utilising both in-house capabilities and partnerships.
Grassroots exploration continued on diamond targets in Angola and the Democratic Republic of Congo (DRC), on copper targets in Australia, Chile, Mongolia, the DRC and Kazakhstan; and on nickel targets in Australia, Brazil and Africa, including Burundi and Tanzania. Exploration for iron ore, coal, potash and bauxite 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 million on minerals exploration of which US$109 million was expensed.
PETROLEUM EXPLORATION
Exploration and appraisal wells drilled during the quarter or in the process of drilling as at 30 September 2007.
|
WELL |
LOCATION |
BHP BILLITON EQUITY |
STATUS |
|
Big Foot North-1 |
Green Canyon |
55% BHP Billiton and operator |
Drilling suspended. Waiting on rig to continue drilling. |
|
Kugler-1 |
Trinidad & Tobago |
25.5% BHP Billiton (Anadarko operator) |
Hydrocarbons encountered. Plugged and abandoned. |
|
Kairi Horst (KAI-B12) |
Trinidad & Tobago |
45% BHP Billiton and operator |
Hydrocarbons encountered. Well completed. |
|
Thebe-1
|
Exmouth Plateau |
100% BHP Billiton and operator |
Encountered approximately 240 feet of gas column. Additional appraisal required. Plugged and abandoned. See News@BHPBilliton dated 13 August 2007. |
|
Torosa-4 |
Browse Basin |
8.33% BHP Billiton |
Drilling suspended. Waiting on rig to continue drilling. |
|
Snarf -1 |
Browse Basin |
20% BHP Billiton (Woodside operator) |
Drilling suspended. Waiting on rig to continue drilling. |
|
Lady Nora-1 |
Carnarvon Basin |
16.67% BHP Billiton(Woodside operator) |
Hydrocarbons encountered. Plugged and abandoned. |
|
Glenridding-1 |
Exmouth sub-basin |
50% BHP Billiton and operator |
Dry hole. Plugged and abandoned. |
Petroleum exploration expenditure for the three months ended 30 September 2007 was US$124 million of which US$72 million was expensed.
Further information on BHP Billiton can be found on our
Internet site: www.bhpbilliton.com
|
Australia Samantha Evans, Media Relations Tel: +61 3 9609 2898 Mobile: +61 400 693 915 email: Samantha.Evans@bhpbilliton.com Jane Belcher, Investor Relations |
United Kingdom Andre Liebenberg, Investor Relations Tel: +44 20 7802 4131 Mobile: +44 7920 236 974 email: Andre.Liebenberg@bhpbilliton.com Illtud Harri, Media Relations |
|
United States Tracey Whitehead, Investor Relations Tel: US +1 713 599 6100 or UK +44 20 7802 4031 Mobile: +44 7917 648 093 email: Tracey.Whitehead@bhpbilliton.com |
South Africa Alison Gilbert, Investor Relations Tel SA: +27 11 376 2121 or UK: +44 20 7802 4183 Mobile: +44 7769 936 227 email: Alison.Gilbert@bhpbilliton.com |
| BHP Billiton Limited ABN
49 004 028 077 Registered in Australia Registered Office: Level 27, 180 Lonsdale Street Melbourne Victoria 3000 Telephone +61 1300 554 757 Facsimile +61 3 9609 3015 |
BHP Billiton Plc
Registration number 3196209 Registered in England and Wales Registered Office: Neathouse Place London SW1V 1BH United Kingdom Telephone +44 20 7802 4000 Facsimile +44 20 7802 4111 |
The BHP Billiton Group is headquartered in Australia
| Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. |
| BHP Billiton Limited and BHP Billiton Plc | ||
| Date: 23 October 2007 | By: |
Jane McAloon |
| Name: | Jane McAloon | |
| Title: | Group Company Secretary |