BHP Billiton Acquires Exploration and Production Rights Offshore the Falkland Islands.HOUSTON -- BHP Billiton BHP Billiton is the world's largest mining company.[1] Its origin is in the 2001 merger of Australia's Broken Hill Proprietary Company (BHP) and the UK's Billiton, which has a South African background. The result is a dual-listed company. announced today that it has acquired an interest in 14 exploration and production licenses offshore the Falkland Islands Falkland Islands (fôk`lənd), Span. Islas Malvinas, officially Colony of the Falkland Islands, group of islands (2005 est. pop. 3,000), 4,618 sq mi (11,961 sq km), S Atlantic, c.300 mi (480 km) E of the Strait of Magellan. in the South Atlantic. The Company signed contracts with Falkland Oil and Gas Limited (FOGL FOGL Falkland Oil and Gas Limited (UK) FOGL Friends of the Green Line (Los Angeles, CA) FOGL Friends of Georgia Libraries (Athens, GA) ) for rights to explore and, if successful, eventually produce oil and gas from the East Falkland Basin located off the southern and eastern coast of the Falkland Islands. BHP Billiton holds a 40 per cent interest in the acreage and is the designated operator. Falkland Oil and Gas Limited holds the remaining 60 percent interest. The production licenses cover approximately 18 million acres and are located in water depths ranging from approximately 656 to 6,570 feet (approximately 200 to 2,000 meters). "We believe this substantial Falklands acreage will be a good addition to BHP Billiton Petroleum's global portfolio and we look forward to working with our partner to pursue this under explored area," said Steve O'Rourke Steve O'Rourke (September 1 1940- September 30 2003 (aged 63)) was born in Willesden, London, England. , President, Exploration, BHP Billiton Petroleum. "With our strong focus on growth, we now hold a significant interest in this high potential basin and will utilise the talent of our team to safely execute an exploration program in the Falkland Islands." About BHP Billiton BHP Billiton is the world's largest diversified diversified (di·verˑ·s resources company, with a portfolio of high-quality, long-life assets and a significant pipeline of growth projects. The Company employs approximately 39,000 people at more than 100 locations in more than 25 countries. BHP Billiton Petroleum is a substantial oil and gas exploration and production business. Its principal activities are oil and natural gas exploration, development, production and marketing. A license map of the area and further information can be found on our Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the site: http://www.bhpbilliton.com. |
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