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BIL - BHP Billiton Plc - Initial funding approved for Mad Dog Phase 2 BHP Billiton Plc Share code: BIL ISIN: GB0000566504 NEWS RELEASE Release IMMEDIATE Time Date 11 April, 2012 Number 09/12 INITIAL FUNDING APPROVED FOR MAD DOG PHASE 2 BHP Billiton today announced approval for US$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 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 calendar year 2013 with first production scheduled for calendar year 2018. BHP Billiton Petroleum Chief Executive Officer, J. Michael Yeager, said: "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." Mad Dog is a partnership between BP (operator, 60.5 percent share), BHP Billiton (23.9 percent) and Chevron (15.6 percent). Further information on BHP Billiton can be found at: www.bhpbilliton.com Sponsor: Absa Capital (the investment banking division of Absa Bank Limited, affiliated with Barclays Capital) Media Relations Investor Relations Australia Australia Antonios Papaspiropoulos James Agar Tel: +61 3 9609 3830 Tel: +61 3 9609 2222 Mobile: +61 477 325 803 Mobile: +61 467 807 064 email: email: James.Agar@bhpbilliton.com Antonios.Papaspiropoulos@bhpbilliton.com Andrew Gunn Kelly Quirke Tel: +61 3 9609 3575 Tel: +61 3 9609 2896 Mobile: +61 439 558 454 Mobile: +61 429 966 312 email: Andrew.Gunn@bhpbilliton.com email: Kelly.Quirke@bhpbilliton.com United Kingdom and South Africa
Fiona Martin Tel: +61 3 9609 2211 Brendan Harris Mobile: +61 427 777 908 Tel: +44 20 7802 4131 email: Fiona.Martin2@bhpbilliton.com Mobile: +44 7990 527 726 United Kingdom email: Brendan.Harris@bhpbilliton.com Ruban Yogarajah Tel: +44 20 7802 4033 Tara Dines Mobile: +44 7827 082 022 Tel : +44 20 7802 7113 email: Ruban.Yogarajah@bhpbilliton.com Mobile : +44 7825 342 232 Americas Email : Tara.Dines@bhpbilliton.com Jaryl Strong Tel: +1 713 499 5548 Americas Mobile: +1 281 222 6627 email: Jaryl.Strong@bhpbilliton.com Scott Espenshade Tel: +1 713 599 6431
Mobile: +1 713 208 8565 email: Scott.Espenshade@bhpbilliton.com
BHP Billiton Limited ABN 49 004 028 077 BHP Billiton Plc Registration Registered in Australia number 3196209 Registered Office: 180 Lonsdale Street Registered in England and Wales Melbourne Victoria 3000 Australia Registered Office: Neathouse Place Tel +61 1300 55 4757 Fax +61 3 9609 3015 London SW1V 1BH United Kingdom Tel +44 20 7802 4000 Fax +44 20 7802 4111
Members of the BHP Billiton Group which is headquartered in Australia Date: 11/04/2012 07:05:01 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.
