BHP Group Greenlights $952 Million Funding for Oil, Gas Projects
13 Fevereiro 2019 - 05:49AM
Dow Jones News
By Oliver Griffin
BHP Group PLC (BHP.LN) said Wednesday that it has approved total
funding of $952 million to develop the Atlantis Phase 3 project in
the U.S. Gulf of Mexico and to drill an appraisal well in Mexico's
Trion field.
The Anglo-Australian mining giant said it has approved funding
of $696 million for the Atlantis Phase 3 development. The deepwater
project will take advantage of existing infrastructure, production
ullage and marketing agreements.
First production from Atlantis Phase 3 is expected in 2020. It
is forecast to increase production by 38,000 barrels of oil
equivalent a day, BHP said.
BHP holds a 44% interest in the Atlantis field while U.K. oil
company BP PLC (BP.LN) holds 56%.
The company also approved $256 million in funding to drill an
additional appraisal well and perform further studies in the Trion
field in Mexico.
BHP said the primary objectives of the appraisal well and
studies are to confirm the volume and composition of hydrocarbons
near the crest of the Trion structure, and study the viability of
developing the field.
The appraisal well is expected to be drilled in the second half
of 2019, BHP said.
BHP holds a 60% interest in the Trion field. The remaining 40%
is held by Petroleos Mexicanos, Mexico's state-owned oil company,
which is also known as Pemex.
Write to Oliver Griffin at oliver.griffin@dowjones.com;
@OliGGriffin
(END) Dow Jones Newswires
February 13, 2019 02:34 ET (07:34 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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