Sharenet Sites 
Sharenet Sites
BHP Successful Bids - Offshore Orphan Basin
BHP Billiton Plc
Registration number 3196209
Registered in England and Wales
Share code: BIL
ISIN: GB0000566504
NEWS RELEASE
Release Time IMMEDIATE
Date 8 November 2018
Release Number 23 /18
BHP SUCCESSFUL IN BIDS FOR BLOCKS IN THE OFFSHORE ORPHAN BASIN IN
EASTERN CANADA
Today, the Canada Newfoundland and Labrador Offshore Petroleum Board announced that
BHP has been successful in its bids to acquire a 100% participating interest in, and
operatorship of, two exploration licences for blocks 8 and 12 in the offshore Orphan Basin in
Eastern Canada.
Steve Pastor, BHP President Operations Petroleum, said the successful bids are an exciting
opportunity for BHP to explore for world class conventional oil assets as an early mover in
this prospective region.
“This frontier opportunity has large oil resource potential which we identified through our
Global Petroleum Endowment Study in 2016 and is in a low risk country, with competitive
fiscal terms” Mr Pastor said.
“This opportunity delivers on our exploration focus in conventional petroleum and will
leverage our global deep-water development and operational expertise.”
BHP’s aggregate bid amount of US$625 million covers the drilling and seismic work required
by the exploration work programs under the licence agreements over the six year term.
BHP’s minimum commitment under the licence agreements is for US$157 million.
Should BHP decide to progress the exploration program beyond this initial phase, a decision
in relation to further capital expenditure to drill the first appraisal well is expected to be made
in FY2022.
BHP’s initial planned capital expenditure on the exploration work programs for blocks 8 and
12 is US$140 million up to FY2021, and is within BHP’s current exploration budget.
Subject to satisfaction of conditions outlined by the Canada Newfoundland and Labrador
Offshore Petroleum Board, it is anticipated that the licence agreements would be issued in
December 2018 and would be effective in January 2019.
Further information on BHP can be found at www.bhp.com.
Sponsor: UBS South Africa (Pty) Limited
Media Relations Investor Relations
Email: media.relations@bhpbilliton.com Email: investor.relations@bhpbilliton.com
Australia and Asia Australia and Asia
Gabrielle Notley Tara Dines
Tel: +61 3 9609 3830 Mobile: +61 4 1107 1715 Tel: +61 3 9609 2222 Mobile: + 61 499 249 005
United Kingdom and South Africa United Kingdom and South Africa
Neil Burrows Elisa Morniroli
Tel: +44 20 7802 7484 Mobile: +44 7786 661 683 Tel: +44 20 7802 7611 Mobile: +44 7825 926 646
North America Americas
Judy Dane James Wear
Tel: +1 713 961 8283 Mobile: +1 713 299 5342 Tel: +1 713 993 3737 Mobile: +1 347 882 3011
BHP Billiton Limited ABN 49 004 028 077 BHP Billiton Plc Registration number 3196209
LEI WZE1WSENV6JSZFK0JC28 LEI 549300C116EOWV835768
Registered in Australia Registered in England and Wales
Registered Office: Level 18, 171 Collins Street Registered Office: Nova South, 160 Victoria Street
Melbourne Victoria 3000 Australia London SW1E 5LB 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 Group which is
headquartered in Australia
Follow us on social media
Date: 08/11/2018 07:10:00 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.
