BHP BILLITON PLC - Submission of winning bid for Trion in Mexico

Submission of winning bid for Trion in Mexico

BHP Billiton Plc
Registration number 3196209
Registered in England and Wales
Share code: BIL
ISIN: GB0000566504



NEWS RELEASE

Release Time      IMMEDIATE
Date              5 December 2016
Release Number    27 /16



BHP BILLITON SUBMITS WINNING BID FOR TRION IN MEXICO’S FIRST
DEEPWATER BID ROUND

BHP Billiton today announced that it submitted the winning bid to acquire a 60 per
cent participating interest in and operatorship of blocks AE-0092 and AE-0093
containing the Trion discovery located in the deep-water Gulf of Mexico offshore
Mexico. PEMEX Exploration & Production Mexico (Pemex) will retain a 40 per cent
interest in the blocks. Pemex estimates the gross recoverable resource to be 485
MMboe. Subject to satisfaction of conditions (including the obtaining of government
approvals), it is anticipated that the relevant agreements would be finalised and
signed within 90 days.

BHP Billiton’s bid for Trion includes an upfront cash payment of US$62.4 million and
a commitment to a Minimum Work Program (estimated to be up to a maximum of
US$320 million).

Should BHP Billiton and Pemex agree to progress the project beyond the Minimum
Work Program, BHP Billiton would be required to invest the remainder of the
US$570 million Minimum Work Contribution (which includes the Minimum Work
Program spend) and a US$624 million cash contribution (which comprises the
upfront cash payment of US$62.4 million already paid and the balance of US$561.6
million as a future carry for Pemex). BHP Billiton’s bid also includes a commitment to
an additional royalty of 4%.

Steve Pastor, BHP Billiton President Operations Petroleum, said “We see attractive
potential in Trion and the Perdido trend, and we are pleased to have the opportunity
to further appraise and potentially develop this prospective frontier area of the deep-
water Gulf of Mexico.”

“This opportunity aligns with our strategy of owning and operating Tier-1 assets and
provides an opportunity for BHP Billiton to leverage its industry leading deep-water
drilling, development and operational expertise to create value in Mexico.”

Sponsor: UBS South Africa (Pty) Limited

Further information on BHP Billiton can be found at: bhpbilliton.com.


Media Relations                                   Investor Relations

Australia and Asia                                Australia and Asia

Matthew Martyn-Jones                              Tara Dines
Tel: +61 7 3227 5816 Mobile +61 419 418 394       Tel: +61 3 9609 2222 Mobile: +61 499 249 005
Email: Matthew.Martyn-Jones@bhpbilliton.com       Email: Tara.Dines@bhpbilliton.com

Paul Hitchins                                     Andrew Gunn
Tel: +61 3 9609 2592 Mobile +61 419 315 001       Tel: +61 3 9609 3575 Mobile: +61 402 087 354
Email: Paul.Hitchins@bhpbilliton.com              Email: Andrew.Gunn@bhpbilliton.com

Fiona Hadley                                      United Kingdom and South Africa
Tel: +61 3 9609 2211 Mobile +61 427 777 908
Email: Fiona.Hadley@bhpbilliton.com               Rob Clifford
                                                  Tel: +44 20 7802 4131 Mobile: +44 7788 308 844
Amanda Saunders                                   Email: Rob.Clifford@bhpbilliton.com
Tel: +61 3 9609 3935 Mobile +61 417 487 973
Email: Amanda.Saunders@bhpbilliton.com            Elisa Morniroli
                                                  Tel: +44 20 7802 7611 Mobile: +44 7825 926 646
United Kingdom and South Africa                   Email: Elisa.Morniroli@bhpbilliton.com

Ruban Yogarajah                                   Americas
Tel: +44 207 802 4033 Mobile +44 7827 082 022
Email: Ruban.Yogarajah@bhpbilliton.com            James Wear
                                                  Tel: +1 713 993 3737 Mobile: +1 347 882 3011
North America                                     Email: James.Wear@bhpbilliton.com

Bronwyn Wilkinson
Mobile: +1 604 340 8753
Email: Bronwyn.Wilkinson@bhpbilliton.com




BHP Billiton Limited ABN 49 004 028 077           BHP Billiton Plc Registration number 3196209
Registered in Australia                           Registered in England and Wales
Registered Office: Level 18, 171 Collins Street   Registered Office: Neathouse Place
Melbourne Victoria 3000 Australia                 London SW1V 1LH United Kingdom
Tel +61 1300 55 4757 Fax +61 3 9609 3015          Tel +44 20 7802 4000 Fax +44 20 7802 4111




Members of the BHP Billiton Group which is
headquartered in Australia

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