BHP Billiton gets initial funding approved Mad Dog Phase 2

BHP Billiton gets initial funding approved for Mad Dog Phase 2

11:30 AM, 11th April 2012
BHP Billiton gets initial funding approved for Mad Dog Phase 2
J Michael Yeager, CEO, BHP Billiton Petroleum.

MELBOURNE, AUSTRALIA: BHP Billiton gets approval for $708 million (BHP Billiton share) in pre commitment funding for the Mad Dog Phase 2 project in the deepwater Gulf of Mexico. The funding will facilitate detailed engineering and the procurement of long lead time items related to the hull, topsides and subsea equipment. The Mad Dog Phase 2 project, a partnership between BP (60.5 per cent), BHP Billiton (23.9 per cent) and Chevron (15.6 per cent), is based on successful appraisal drilling which confirmed significant hydrocarbons in the southern portion of the Mad Dog field.

The proposed project includes the development of a second spar facility with all subsea production and injection wells. The new facility is estimated to have a design capacity of approximately 130,000 barrels of oil per day that will be exported via the Mardi Gras pipelines under existing agreements. A final investment decision is anticipated in 2013.

“Mad Dog Phase 2 will join our extensive Gulf of Mexico portfolio that includes Mad Dog and Atlantis as well as the Shenzi and Neptune platforms that we operate. The extension of this field will underpin continued valuable liquids production from the Gulf of Mexico and further enhance our growth profile,” said J Michael Yeager, CEO, BHP Billiton Petroleum.

© WOC News



Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News

Fluor bags BASF’s contract in North America

IRVING, US: BASF has chosen Fluor Corporation as its engineering partner for chemicals capital projects across North America. BASF has awarded Fluor a ...

Read more
Massive earthquake - magnitude 8.7, off Indonesia

SINGAPORE: A magnitude 8.7 earthquake has struck off the West coast of Northern Sumatra and a tsunami warning is in place, said Indonesia’s Geop ...

Read more
Chinese University develops genetically modified longer fibre cotton

SHANGHAI, CHINA: Scientists at Fudan University have developed China’s own genetically modified cotton which has longer fibres and is hoped to h ...

Read more
BMA plans to cease production at Norwich park mine

MELBOURNE, AUSTRALIA: BHP Billiton Mitsubishi Alliance (BMA), a 50:50 joint venture of BHP Billiton and Mitsubishi, plan to cease production at Norwic ...

Read more
BASF improves concrete characteristics with life cycle analyzer

LUDWIGSHAFEN, GERMANY: With the newly developed ‘life cycle analyzer’ BASF helps to improve concrete characteristics. The special software ...

Read more
Showa Shell, GS Caltex and Taiyo Oil to build paraxylene plant in Korea

SEOUL, SOUTH KOREA: Showa Shell Sekiyu KK, GS Caltex and Taiyo Oil signed a memorandum of understanding for new paraxylene (PX) project at GS Caltex h ...

Read more uses cookies to ensure that we give you the best experience on our website. By using this site, you agree to our Privacy Policy and our Terms of Use. X