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 April 2008
Number 15/08
BHP BILLITON QUARTERLY REPORT ON
EXPLORATION AND DEVELOPMENT ACTIVITIES
QUARTER ENDED 31 MARCH 2008
This report covers the Company's exploration and development activities for the quarter ended 31 March 2008. 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 to the financial position of the Group in the quarter ended 31 March 2008. 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
First production was successfully achieved at Yabulu during the quarter ended 31 March 2008. This project will not be reported in future Exploration and Development Reports.
During the quarter Newcastle Third Port Project (energy coal), Douglas-Middelburg Optimisation (energy coal) and North West Shelf North Rankin B (petroleum) were sanctioned.
|
PROJECT AND OWNERSHIP |
SHARE OF APPROVED CAPEX US$M |
INITIAL PRODUCTION TARGET DATE |
PRODUCTION CAPACITY (100%) |
QUARTERLY PROGRESS |
|
Petroleum Projects |
||||
|
Neptune (US) Oil/Gas
|
405 |
Mid CY08 |
50,000 barrels of oil and 50 million cubic feet gas per day |
Revised schedule due to structural anomalies in the hull. See News Release dated 25 March 2008. Offshore hookup and commissioning completed. Drilling of the sixth well in progress with five of the seven wells completed. |
|
North West Shelf Angel (Australia)| Oil/Gas |
200 |
End CY08 |
800 million cubic feet gas per day and 50,000 bpd condensate |
On schedule and budget. Topsides successfully installed. |
|
North West Shelf Train 5 LNG |
350 |
Late CY08 |
LNG processing capacity of 4.2 million tpa |
On schedule and budget. On-site construction and hookup continued. |
|
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 arrived in Gulf of Mexico. Export pipelines and infield flowlines installed. Drilling of third well in progress with two wells completed. |
|
Pyrenees Oil/Gas |
1,200 |
1H CY10 |
96,000 barrels of oil and 60 million cubic feet gas per day |
On schedule and budget. Floating Production Storage and Offtake (FPSO) conversion continued. Topside module construction commenced. |
|
Bass Strait Kipper (Australia) Gas/Gas Liquids |
500 |
CY11 |
10,000 bpd condensate and processing capacity of 80 million cubic feet gas per day |
On schedule and budget. Contracts executed for subsea equipment and umbilicals. |
|
North West Shelf North Rankin B Gas Compression (Australia) LNG |
850 |
CY12 |
2,500 million cubic feet gas per day |
New gas compression platform to be constructed adjacent to the existing North Rankin A platform. Approval announced, see News Release dated 31 March 2008. |
|
Minerals Projects |
||||
|
Alumar - Refinery Expansion (Brazil) 36% Alumina |
725 |
Q2 CY09 |
2 million tpa of alumina |
On revised schedule and budget. Engineering has been completed, procurement is well advanced and construction is nearing 50% completion. |
|
Yabulu (Australia) Nickel |
556 |
Q1 CY08 |
45,000 tpa nickel |
Project was completed and first production achieved during the quarter. |
|
Cliffs (Australia) Nickel |
139 |
1H CY08 |
360,000 tpa nickel ore |
On schedule and budget. Total project progress is 58% complete. |
|
Iron Ore (Western Australia) Iron Ore |
1,850 |
1H CY10 |
26 million tpa additional iron ore system capacity |
|
|
Samarco Third Pellet Plant (Brazil) Iron Ore |
590
|
1H CY08 |
7.6 million tpa additional iron ore capacity |
On schedule and budget in local currency. Commissioning activities have commenced. |
|
Gemco (Australia) Manganese |
110
|
1H CY09 |
Additional 1 million tpa manganese concentrate |
On schedule and budget. Project civil construction is underway and procurement activities progressing well. |
|
Newcastle Third Port Project (Australia) Energy Coal |
390
|
End CY10 |
Export coal loading facility 30 million tpa |
On schedule and budget. Project sanctioned during quarter. See News Release dated 22 January 2008. Earthworks contractors have been mobilised and dredging has commenced. |
|
Klipspruit (South Africa) Energy Coal |
450
|
2H CY09 |
Incremental 1.8 million tpa export coal Incremental 2.1 million tpa domestic |
On schedule and budget. All main contracts placed, with construction underway across the site. |
|
Douglas-Middelburg Optimisation (South Africa) Energy Coal |
975 |
Mid CY10 |
10 million tpa export thermal coal and 8.5 million tpa domestic thermal coal. |
The project was sanctioned during the quarter. See News Release dated 29 February 2008. |
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, Russia, Brazil and Africa. Exploration for iron ore, coal and bauxite was undertaken in a number of regions including Australia, South America, Russia and West Africa.
For the nine months ended 31 March 2008, BHP Billiton spent US$437 million on minerals exploration of which US$353 million was expensed.
Exploration and appraisal wells drilled during the quarter or in the process of drilling as at 31 March 2008.
|
WELL |
LOCATION |
BHP BILLITON EQUITY |
STATUS |
|
Thebe-2 |
Exmouth Plateau |
100% BHP Billiton and operator |
Drilling ahead. |
|
Snarf-1 |
Browse Basin |
20% BHP Billiton (Woodside operator) |
Waiting on rig to continue drilling. |
|
Warrabkook-1 |
Browse Basin |
25% BHP Billiton and operator |
Dry hole. |
Petroleum exploration expenditure for the nine months ended 31 March 2008 was US$479 million of which US$240 million was expensed.
Further information on BHP Billiton can be found on our Internet site:
www.bhpbilliton.com
|
Australia Emma Meade, Media Relations Tel: +61 3 9609 2896 Mobile: +61 409 199 236 Email: Emma.Meade@bhpbilliton.com |
United
Kingdom & South Africa Andre Liebenberg, Investor Relations Tel: +44 20 7802 4131 Mobile: +44 7920 236 974 Email: Andre.Liebenberg@bhpbilliton.com |
| Leng Lau,
Investor Relations Tel: +61 3 9609 4202 Mobile: +61 403 533 706 Email: Leng.Y.Lau@bhpbilliton.com United States Tel: US +1 713 599 6100 or UK +44 20 7802 4031 Mobile: +44 7917 648 093 Email: Tracey.Whitehead@bhpbilliton.com |
Illtud Harri,
Media Relations Tel: +44 20 7802 4195 Mobile: +44 7920 237 246 Email: Illtud.Harri@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 April 2008 | By: |
Jane McAloon |
| Name: | Jane McAloon | |
| Title: | Group Company Secretary |