BHP Petroleum sees Q107 volumes in line with Q406admin
World number one miner BHP Billiton said on Thursday it expected petroleum volumes in the first quarter of 2007 to be in line with the fourth quarter of 2006.
BHP also said in a slide presentation on its website that first production at its Atlantis South oil project was seen in the first-half of 2007, according to estimates from the development’s operator.
BHP said in July that fiscal 2007 petroleum output would be in line with fiscal 2006, assuming the Atlantis South oil project starts output in the first quarter of calendar 2007.
The company has been experiencing cost pressures with Atlantis South, in the Gulf of Mexico, running at more than 30 percent above its approved budgets.