Sharenet Sites 
Sharenet Sites
Conventional petroleum update
BHP Group Plc
Registration number 3196209
Registered in England and Wales
Share code: BHP
ISIN: GB00BH0P3Z91
NEWS RELEASE
Release Time IMMEDIATE
Date 13 February 2019
Release Number 04/19
Conventional petroleum update
BHP approves Atlantis Phase 3 project
The BHP Board has today approved US$696 million (BHP share) in funding to
develop the Atlantis Phase 3 project in the US Gulf of Mexico. This follows sanction
by BP, as the Operator, of the Atlantis Phase 3 project, announced in January 2019.
Atlantis Phase 3 is located in the deepwater Gulf of Mexico, approximately 130 miles
(208 kilometres) off the coast of Louisiana. The Project is a subsea tie back of eight
new production wells that will be drilled and completed to access infill resource
opportunities. It will take advantage of existing infrastructure, production ullage and
marketing agreements. First production is expected in the 2020 calendar year and is
estimated to increase production by ~38,000 barrels of oil equivalent per day (boe/d)
gross at its peak.
BHP President Operations Petroleum, Steve Pastor, said: “The Atlantis Phase 3
project provides a competitive opportunity to deliver on our strategy to grow
resources in Tier 1 conventional deepwater assets. The project will further expand
the Atlantis field and will provide cost-efficient, near term volumes.”
BHP holds a 44 per cent interest in the Atlantis field. BP holds a 56 per cent interest.
BHP approves funding for additional Trion appraisal well
The BHP Board has today also approved US$256 million in funding to drill an
additional appraisal well (3DEL) and perform further studies in the Trion field in
Mexico, to further delineate the scale and characterisation of the resource.
The primary objectives of the 3DEL 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 development of the Trion field. The approved funds are within
the forecast BHP exploration and appraisal expenditure budget.
“A further appraisal well at Trion, following the recent encouraging results at the
2DEL appraisal well, reduces investment risk and adds value to this project. If Trion
is determined to be commercial, these funds will also provide an option to potentially
accelerate development of Trion” said Mr Pastor.
The 3DEL appraisal well is expected to be drilled in the second half of the 2019
calendar year.
BHP holds a 60 per cent interest (and operatorship) in Trion. PEMEX holds a 40 per
cent interest.
Further information on BHP can be found at bhp.com
Sponsor: UBS South Africa (Pty) Limited
Media Relations Investor Relations
Email: media.relations@bhp.com Email: investor.relations@bhp.com
Australia and Asia Australia and Asia
Gabrielle Notley Tara Dines
Tel: +61 3 9609 3830 Mobile: +61 4 1107 1715 Tel: +61 3 9609 2222 Mobile: + 61 499 249 005
United Kingdom and South Africa United Kingdom and South Africa
Neil Burrows Elisa Morniroli
Tel: +44 20 7802 7484 Mobile: +44 7786 661 683 Tel: +44 20 7802 7611 Mobile: +44 7825 926 646
North America Americas
Judy Dane James Wear
Tel: +1 713 961 8283 Mobile: +1 713 299 5342 Tel: +1 713 993 3737 Mobile: +1 347 882 3011
BHP Group Limited ABN 49 004 028 077 BHP Group Plc Registration number 3196209
LEI WZE1WSENV6JSZFK0JC28 LEI 549300C116EOWV835768
Registered in Australia Registered in England and Wales
Registered Office: Level 18, 171 Collins Street Registered Office: Nova South, 160 Victoria Street
Melbourne Victoria 3000 Australia London SW1E 5LB United Kingdom
Tel +61 1300 55 4757 Fax +61 3 9609 3015 Tel +44 20 7802 4000 Fax +44 20 7802 4111
Members of the BHP Group which is
headquartered in Australia
Follow us on social media
Date: 13/02/2019 07:39:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
