BHP Billiton has approved an increase in its capex share for Esso Australia’s Kipper and Turrum projects in the Gippsland basin, offshore southern Australia.
Offshore staff
MELBOURNE, Australia – BHP Billiton has approved an increase in its capex share for Esso Australia’s Kipper and Turrum projects in the Gippsland basin, offshore southern Australia.
BHP says its share of Kipper capex now is $900 million and that completion of the production facilities is expected in 2012. On Turrum, BHP’s share now is $1.35 billion and production is expected in 2013.
Kipper has confirmed resources of approximately 620 bcf of recoverable gas and 30 MMbbl of oil and gas liquids. Turrum is expected to recover approximately 1 tcf of natural gas and 110 MMbbl of oil and gas liquids, on a 100% basis.
The Kipper participants are Esso Australia Resources Pty Ltd (32.5 % and operator); BHP Billiton (32.5%); and Santos (35%).
Turrum is part of the Gippsland Basin Joint Venture in which BHP Billiton and Esso Australia Resources Pty Ltd (operator), each have a 50%.
