KEYFACT Energy
Contacts
BHP Billiton Petroleum
BHP Billiton Centre
171 Collins Street
Melbourne Victoria 3000
Tel: (61) 1300 55 47 57
BHP
Description
BHP is among the world’s top producers of major commodities including iron ore, metallurgical coal, copper and uranium. We also have substantial interests in oil, gas and energy coal.
The company's Petroleum unit comprises conventional and unconventional oil and gas operations, and includes exploration, development and production activities.
BHP has owned oil and gas assets since the 1960s. The company have high-margin conventional assets located in the US Gulf of Mexico, Australia, Trinidad and Tobago, and Algeria, as well as appraisal and exploration options in Mexico, Deepwater Trinidad and Tobago, Western Gulf of Mexico, Eastern Canada and Barbados.
Conventional petroleum business includes exploration, appraisal, development and production activities.
Production
In the half year period ended 31 December 2019, total petroleum production decreased by nine per cent to 57 MMboe. Guidance for the 2020 financial year remains unchanged at between 110 and 116 MMboe, with volumes expected to be towards the lower end of the guidance range.
Crude oil, condensate and natural gas liquids production declined by nine per cent to 26 MMboe due to the impact of Tropical Storm Barry in the Gulf of Mexico and natural field decline across the portfolio. This decline was partially offset by higher uptime at Pyrenees following the 70 day dry dock maintenance program during the September 2018 quarter.
Natural gas production decreased by eight per cent to 189 bcf, reflecting a decrease in tax barrels at Trinidad and Tobago in accordance with the terms of our Production Sharing Contract, maintenance at North West Shelf, reduced domestic gas sales in Western Australia, and natural field decline across the portfolio.