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BIL
BIBLT
BIL - BHP Billiton Plc - Quarterly Report On Exploration And Development
Activities Quarter Ended 31 March 2007
BHP Billiton Plc
Share code: BIL
ISIN: BG0000566504
24 April 2007
Number 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 the
quarter ended 31 March 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
During the quarter, the Company announced the sanctioning of the Rapid Growth
Project 4 (RGP4) at its Western Australia Iron Ore operations. RGP4`s progress
will now be reported each quarter.
Also during the quarter, the Company finalised the acquisition of the Genghis
Khan oil and gas development in the Gulf of Mexico. Genghis Khan`s progress
will now be reported each quarter.
PROJECT AND SHARE OF INITIAL PRODUCTION QUARTERLY PROGRESS
OWNERSHIP APPROVED PRODUCTION CAPACITY
CAPEX US$M TARGET (100%)
DATE
Petroleum
Projects
Genghis Khan 365 Mid CY07 55,000 Acquisition completed.
44% barrels of Rig to be mobilised by
Oil/Gas oil per May 2007 to complete the
day existing well.
Atlantis 1,500 Under 200,000 Seven development wells
South (US) review, barrels of have been drilled with
44% forecast oil and six of these wells having
Oil/Gas 2H CY07 180 been completed at the end
million of March. The Balder
cubic feet installation vessel has
of gas per recommenced installing
day flow lines.
Neptune (US) 300 End CY07 50,000 On schedule however
35% barrels of drilling and construction
Oil/Gas oil and 50 costs are under review.
million The subsea oil and gas
cubic feet export and all well flow
gas per lines have been
day installed. Four wells
have been drilled and
completions are
commencing.
Stybarrow 300 Q1 CY08 80,000 On schedule however
(Australia) barrels of drilling and construction
50% oil per day costs are under review.
Oil/Gas Two producing wells and
two 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 200 End CY08 800 million On budget and schedule.
Shelf Angel cubic feet Topsides and jacket
(Australia) gas per day fabrication progressing.
16.67%
Oil/Gas
North West 300 Late CY08 LNG On schedule and revised
Shelf Train 5 processing budget as advised by the
(Australia) capacity of Operator. 10 of 17 module
16.67% 4.2 million shipments have been
LNG tpa received. Last module
shipment is scheduled for
May 2007.
Shenzi (US) 1,940 Mid CY09 100,000 On budget and schedule.
44% barrels of Hull and topsides
Oil/Gas oil and 50 fabrication continues.
million
cubic feet
gas per day
Minerals
Projects
Alumar - 725 Q2 CY09 2 million On revised budget and
Refinery tpa schedule. Detailed
Expansion engineering is 60%
(Brazil) 36% complete, procurement is
Alumina 35% complete and
construction stands at
10% complete.
Koala 200 End CY07 3,300 On schedule and budget.
Underground tonnes per During the quarter,
(Canada) day ore underground tunnelling
80% processed continued and the mine
Diamonds ventilation facilities
were completed.
Procurement is well
advanced and engineering
is complete.
Ravensthorpe 2,200 Q1 CY08 Up to On revised schedule and
(Australia) 50,000 tpa budget. Construction has
100% contained passed 90% complete with
Nickel nickel in activities now focused on
concentrate 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 556 Q1 CY08 45,000 tpa The Yabulu Expansion is
(Australia) nickel mechanically complete and
100% commissioning will start
Nickel ahead of delivery of feed
from Ravensthorpe.
Iron Ore 1,300 Q4 CY07 20 million On schedule and budget.
(Western tpa Engineering and
Australia) procurement activities
RGP3 are essentially complete,
85% with construction
Iron Ore activities now 53%
complete.
Iron Ore 1,850 1H CY10 26 million The project was approved
(Western tpa on 23 March 2007 and work
Australia) has commenced.
RGP4
86.2%
Iron Ore
Samarco Third 590 1H CY08 7.6 On schedule and budget.
Pellet Plant million The pipeline is 75%
(Brazil) tpa complete with total
50% project progress being
Iron Ore 61% complete.
MINERALS EXPLORATION
BHP Billiton continued to pursue global exploration opportunities for key
commodities of interest utilising both in-house capabilities and the Junior
Alliance Programme.
Grassroots exploration continued on diamond targets in Angola, Canada and the
Democratic Republic of Congo (DRC), on copper targets in Australia, Chile,
Mongolia, the DRC and USA; and on nickel targets in Australia, Russia and
Africa. Exploration for iron ore, coal, potash and bauxite was undertaken in a
number of regions including Australia, Brazil, Canada and West Africa.
For the nine months ended 31 March 2007, BHP Billiton spent US$227 million on
minerals exploration of which US$166 million was expensed.
PETROLEUM EXPLORATION
Exploration and appraisal wells drilled during the quarter or in the process of
drilling as at 31 March 2007.
WELL LOCATION BHP BILLITON EQUITY STATUS
Shenzi-6 Gulf of Mexico 44% BHP Billiton Hydrocarbons
Green Canyon and operator encountered.
Block 609 Additional appraisal
required. Plugged
and abandoned.
Shenzi-6 - Gulf of Mexico 44% BHP Billiton Drilling ahead.
Side Track 1 Green Canyon and operator
Block 610
Puma-2 Gulf of Mexico 29.805% BHP Drilling suspended.
Green Canyon Billiton (BP Additional appraisal
Block 821 operator) required. Temporarily
plugged and
abandoned.
Puma-3 Gulf of Mexico 29.805% BHP Drilling ahead.
Green Canyon Billiton (BP
Block 866 operator)
Torosa-2 Browse Basin 8.33% BHP Billiton Hydrocarbons
Western (Woodside operator) encountered. Under
Australia evaluation.
WA-30-R Plugged and
abandoned.
Sculptor-2 Dampier Basin 16.67% BHP Billiton Hydrocarbons
Western (Woodside operator) encountered. Under
Australia evaluation. Plugged
WA-24-R and abandoned.
Sculptor-3 Dampier Basin 16.67% BHP Billiton Hydrocarbons
Western (Woodside operator) encountered. Under
Australia evaluation. Plugged
WA-24-R and abandoned.
Calliance-2 Browse Basin 20% BHP Billiton Drilling ahead.
Western (Woodside operator)
Australia
WA-28-R
Ruby-2 Trinidad and 25.5% BHP Billiton Dry hole. Plugged
Tobago Block 3 and operator and abandoned.
(a)
Petroleum exploration expenditure for the nine months ended 31 March 2007 was
US$265 million. The amount expensed was US$206 million which includes US$43
million of exploration expenditure previously capitalised.
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
Tel: +61 3 9609 3952 Mobile: +61 417 031 653
email: Jane.H.Belcher@bhpbilliton.com
United Kingdom
Mark Lidiard, Investor & Media Relations
Tel: +44 20 7802 4156 Mobile: +44 7769 934 942
email: Mark.Lidiard@bhpbilliton.com
Illtud Harri, Media Relations
Tel: +44 20 7802 4195 Mobile: +44 7920 237 246
email: Illtud.Harri@bhpbilliton.com
United States
Tracey Whitehead, Investor & Media 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
Date: 24/04/2007 09:39:01 Produced by the JSE SENS Department.
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