Date 22nd November 2000
Number 109/00
BHP'S UK KEITH OIL FIELD BEGINS PRODUCTION
BHP Limited (BHP) today announced production had begun from the Keith oil field
located north east of Aberdeen in UK North Sea block 9/8a.
The sub-sea development was finished on schedule less than a year after the
project gained government approval and was completed to budget with no major
safety incidents.
The development is driven by BHP's strategy to deliver value enhancements from
existing and new assets by exploiting near field potential.
The Keith field was developed by re-using a suspended appraisal well, 9/8a-14,
which was tied back seven kilometres to the Bruce Western Area Development
(WAD), and through this to the main Bruce production facility.
This single well will access around 15 million barrels of oil equivalent
(mmboe) of proved and probable reserves (4.8 mmboe net to BHP) for a total
capital expenditure of approximately A$62 million (A$19 million net BHP).
Initial daily production is approximately 15,000 barrels of oil and 15
million standard cubic feet of gas, with the average rate during the first
year expected to be about 8,000 barrels per day.
Further development of this geologically complex field will be assessed
following the acquisition of technical data during production. Future phases,
if justified, offer the potential for significant additional volumes of
hydrocarbons.
Keith is located 320 kilometres north east of Aberdeen and lies close to the
BP-operated Bruce field, in which BHP Petroleum has 16 per cent equity.
BHP holds a 31.83 per cent operated interest in the Keith field with its
partners in UK North Sea block 9/8a; BP Exploration (34.83%), TotalFinaElf
(25%) and Marubeni Oil and Gas (UK) (8.33%).
Further information can be found on our internet site: http://www.bhp.com
MEDIA RELATIONS
Mandy Frostick, Manager Media Relations
Ph: 61 3 9609 4157 Mob: 61 419 546 245
London Chris Huntley Ph: 44 20 7802 7331
INVESTOR RELATIONS
Robert Porter, Vice President Investor Relations
Ph: 61 3 9609 3540 Mob: 61 419 587 456
Candy Ramsey
BHP Investor Relations Houston
Ph: (713) 961-8640
