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BIL
BIBLT
BIL - BHP Billiton Quarterly Report On Exploration And Development Activities
Quarter Ended 31 March 2008
BHP Billiton Plc
Share code: BIL
ISIN: GB0000566504
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 SHARE OF INITIAL PRODUCTION QUARTERLY PROGRESS
OWNERSHIP APPROVED PRODUCTION CAPACITY
CAPEX TARGET (100%)
US$M DATE
Petroleum
Projects
Neptune (US) 405 Mid CY08 50,000 Revised schedule due to
35% barrels of structural anomalies in
Oil/Gas oil and 50 the hull. See News
million Release dated 25 March
cubic feet 2008. Offshore hookup
gas per day and commissioning
completed. Drilling of
the sixth well in
progress with five of
the seven wells
completed.
North West 200 End CY08 800 million On schedule and budget.
Shelf Angel cubic feet Topsides successfully
(Australia) gas per day installed.
16.67% and 50,000
Oil/Gas bpd
condensate
North West 350 Late CY08 LNG On schedule and budget.
Shelf Train 5 processing On-site construction and
(Australia) capacity of hookup continued.
16.67% 4.2 million
LNG tpa
Shenzi (US) 1,940 Mid CY09 100,000 On schedule and budget.
44% barrels of Hull arrived in Gulf of
Oil/Gas oil and 50 Mexico. Export
million pipelines and infield
cubic feet flowlines installed.
gas per day Drilling of third well
in progress with two
wells completed.
PROJECT AND SHARE OF INITIAL PRODUCTION QUARTERLY PROGRESS
OWNERSHIP APPROVED PRODUCTION CAPACITY
CAPEX TARGET (100%)
US$M DATE
Pyrenees 1,200 1H CY10 96,000 On schedule and budget.
(Australia) barrels of Floating Production
71.43% oil and 60 Storage and Offtake
Oil/Gas million (FPSO) conversion
cubic feet continued. Topside
gas per day module construction
commenced.
Bass Strait 500 CY11 10,000 bpd On schedule and budget.
Kipper condensate Contracts executed for
(Australia) and subsea equipment and
32.5% - 50% processing umbilicals.
Gas/Gas capacity of
Liquids 80 million
cubic feet
gas per day
North West 850 CY12 2,500 New gas compression
Shelf North million platform to be
Rankin B Gas cubic feet constructed adjacent to
Compression gas per day the existing North
(Australia) Rankin A platform.
16.67% Approval announced, see
LNG News Release dated 31
March 2008.
Minerals
Projects
Alumar - 725 Q2 CY09 2 million On revised schedule and
Refinery tpa of budget. Engineering has
Expansion alumina been completed,
(Brazil) 36% procurement is well
Alumina advanced and
construction is nearing
50% completion.
Yabulu 556 Q1 CY08 45,000 tpa Project was completed
(Australia) nickel and first production
100% achieved during the
Nickel quarter.
Cliffs 139 1H CY08 360,000 tpa On schedule and budget.
(Australia) nickel ore Total project progress
100% is 58% complete.
Nickel
Iron Ore 1,850 1H CY10 26 million On schedule and budget
(Western tpa in local currency.
Australia) additional Engineering progress is
RGP4 iron ore now over 80% complete
86.2% system and construction
Iron Ore capacity progress over 20%
complete.
Samarco Third 590 1H CY08 7.6 million On schedule and budget
Pellet Plant tpa in local currency.
(Brazil) additional Commissioning activities
50% iron ore have commenced.
Iron Ore capacity
Gemco 110 1H CY09 Additional On schedule and budget.
(Australia) 1 million Project civil
60% tpa construction is underway
Manganese manganese and procurement
concentrate activities progressing
well.
Newcastle 390 End CY10 Export coal On schedule and budget.
Third Port loading Project sanctioned
Project facility 30 during quarter. See News
(Australia) million tpa Release dated 22 January
35.5% 2008. Earthworks
Energy Coal contractors have
been mobilised and
dredging has commenced.
PROJECT AND SHARE OF INITIAL PRODUCTION QUARTERLY PROGRESS
OWNERSHIP APPROVED PRODUCTION CAPACITY
CAPEX TARGET (100%)
US$M DATE
Klipspruit 450 2H CY09 Incremental On schedule and budget.
(South Africa) 1.8 million All main contracts
100% tpa export placed, with
Energy Coal coal construction underway
Incremental across the site.
2.1 million
tpa
domestic
Douglas- 975 Mid CY10 10 million The project was
Middelburg tpa export sanctioned during the
Optimisation thermal quarter. See News
(South Africa) coal and Release dated 29
100% 8.5 million February 2008.
Energy Coal tpa
domestic
thermal
coal.
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.
PETROLEUM EXPLORATION
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 Drilling ahead.
Western and operator
Australia
WA-346-P
Snarf-1 Browse Basin 20% BHP Billiton Waiting on rig to
Western (Woodside operator) continue drilling.
Australia
WA-275-P
Warrabkook-1 Browse Basin 25% BHP Billiton Dry hole.
Western and operator Plugged and
Australia abandoned.
WA-303-P
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
Leng Lau, Investor Relations
Tel: +61 3 9609 4202 Mobile: +61 403 533 706
email: Leng.Y.Lau@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
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
Date: 23/04/2008 09:28:00 Produced by the JSE SENS Department.
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